Priority Return Amount definition

Priority Return Amount means, for each Distribution Period, for each Partner holding any class or series of Preferred Units, the Priority Return Percentage times the Liquidation Preference times the number of Preferred Units held by such Partner as set forth on Exhibit A hereto (or otherwise set forth in an amendment to this Agreement). In the case of any Preferred Units issued during a Distribution Period, the Priority Return Amount attributable to such Preferred Units for such Distribution Period shall be prorated to reflect the portion of such Distribution Period during which such Preferred Units were outstanding.

Priority Return Amount. For each Distribution Period, an amount equal to 1.625% of that portion of the Capital Contribution of the Preferred Limited Partner allocable to each Preferred Unit.

Priority Return Amount. With respect to each Class B Unit, (i) for the Initial Distribution Period, the pro rata portion of the amount referred to in clause (ii) of this definition, computed in accordance with the last sentence of Section 5.3(A) hereof, and (ii) for each Distribution Period thereafter, an amount equal to 2.1875% of that portion of the Capital Contribution of the Class B Limited Partner allocable to each such unit. Priority Return Amounts on each Class B Unit that are not distributed as provided in Section 5.3(A) shall be cumulative from the Deemed Original Issue Date of such unit.

Examples of Priority Return Amount in a sentence

• Upon the effective date of any such conversion, each Preferred Unit which is the subject of such conversion shall be converted, without necessity of any further action by the General Partner, into that number of Partnership Units the Limited Partner is entitled to receive on such conversion equal to the applicable Conversion Factor plus an amount of cash equal to the accrued Priority Return Amount in respect of such Preferred Unit.

• Upon the effective date of any such conversion, the Preferred Units which are the subject of such conversion shall be converted, without necessity of any further action by the General Partner, into Units of Limited Partner Interest on the basis of 3.5714 Units of Limited Partner Interest for each Preferred Unit being converted plus an amount in cash equal to the accrued Priority Return Amount in respect of such Preferred Units.

• Upon the effective date of any such conversion, the Preferred Units which are the subject of such conversion shall be converted, without necessity of any further action by the General Partner, into Partnership Units of Limited Partner Interest on the basis of 3.5714 Partnership Units of Limited Partner Interest for each Preferred Unit being converted plus an amount in cash equal to the accrued Priority Return Amount in respect of such Preferred Units.

• Subject to the satisfaction of the Xxxxxxxxx Priority Return Amount (as such term is defined in Section 9.1(g)), the percentage interest ("Percentage of Membership Interest") of each Member in the total capital of the Company shall initially be fifty percent (50%), as the same may be adjusted from time to time in accordance with this Agreement.

• Upon the effective date of any such conversion, the Preferred Units which are the subject of such conversion shall be converted, without necessity of any further action by the General Partner, into that number of Partnership Units the Limited Partner is entitled to receive on such conversion plus an amount of cash equal to the accrued Priority Return Amount in respect of such Preferred Units.

• In any case in which there is an unpaid Priority Return Amount with respect to a Preferred Unit that is converted pursuant to paragraph (A) of this Section, the converting Partner shall continue to have the right to distributions (and allocations) under Article V and Section 10.2 of this Agreement as if the converting Partner continued to hold the converted Preferred Unit until the unpaid distributions (and related allocations) have been paid (or allocated).

• Subject to the satisfaction of the Hollinger Priority Return Amount (as such term is defined in Section 0.0(x)), the percentage interest ("Percentage of Membership Interest") of each Member in the total capital of the Company shall initially be fifty percent (50%), as the same may be adjusted from time to time in accordance with this Agreement.

More Definitions of Priority Return Amount

Priority Return Amount means, with respect to each Limited Partner for each Performance Period, the sum of the daily amounts, determined for each day during such Performance Period, obtained by multiplying (1) the Base Amount with respect to such Limited Partner for such day by (2) the Applicable Rate for such day. "Prime Rate" means the interest rate that is publicly announced from time to time by the Chase Manhattan Bank, N.A. as its prime rate or, if no such interest rate is announced by the Chase Manhattan Bank, N.A., then the prime rate shall be that announced by another major New York City money center bank selected by the General Partner.

Priority Return Amount. With respect to any Partner and at any time, an amount which, if distributed to such Partner at such time, would cause the aggregate amount of distributions made by the Partnership to such Partner and such Partner's predecessors in interest from the inception of the Partnership through such time (other than those distributions necessary to satisfy the requirements of Section 4.3(ii)) to equal but not exceed that portion of such Partner's Capital Contribution that, at or prior to the time of determination, is reflected in the Partnership's books as having been used by the Partnership:

Priority Return Amount means (i) with respect to the Xxxxxxx Group, $5,000,000, plus the aggregate amount of any Additional Capital Contributions made by the Xxxxxxx Group, (ii) with respect to Mill Road, $5,000,000, plus the aggregate amount of any Additional Capital Contributions made by Mill Road, and (iii) with respect to any other Class A Unitholder, the amount of such holder’s Capital Contribution.

Priority Return Amount. For each Distribution Period, for each Partner holding any class or series of Preferred Units, the Priority Return Percentage times the Liquidation Preference times the number of Preferred Units held by such Partner as set forth on the Addendum to EXHIBIT 1 (or otherwise set forth in an amendment to this Agreement). In the case of any Preferred Units issued during a Distribution Period, the Priority Return Amount attributable to such Preferred Units for such Distribution Period shall be pro rated to reflect the portion of such Distribution Period during which such Preferred Units were outstanding.

Priority Return Amount. For each Distribution Period, an amount equal to (i) for each Partner holding Initial Preferred Units, 1.625% times the number of Initial Preferred Units held by such Partner times $25.00, (ii) for each Partner holding Series A Preferred Units, 1.375% times the number of Series A Preferred Units held by such Partner times $25.00 and (iii) for each Partner holding a class of Preferred Units issued after the date hereof, such amount as determined by the General Partner in accordance with Section 4.2(A) or (B), whichever is applicable. For all purposes of this Agreement, the holders of Initial Preferred Units, the Series A Preferred Units and any future classes or series of Preferred Units shall be entitled to allocations and distributions with respect to Priority Return Amounts on a pari passu basis. In the case of any Preferred Units issued during a Distribution Period, the Priority Return Amount attributable to such Preferred Units for such Distribution Period shall be pro rated to reflect the portion of such Distribution Period during which such Preferred Units were outstanding.

Priority Return Amount means, with respect to any Member and at any time, an amount which, if distributed to such Member at such time, would cause the aggregate amount of distributions made by the Company to such Member and such Member's predecessors in interest from the inception of the Company through such time pursuant to Section 10.02(b) to equal but not exceed that portion of such Member's Contribution that, at or prior to the time of determination, is reflected in the Company's books as having been used by the Company to acquire any Portfolio Securities that, as of such time, are Disposed Investments (including any investments that are subject to a Net Write Down as provided for in clause (e) in the definition of "Disposed Investment"), but only to the extent amounts used by the Company to acquire Portfolio Securities that are Disposed Investments have not previously been applied to reduce the Unallocated Amount. For purposes of the foregoing, the amount deemed applied to reduce the Unallocated Amount shall equal the actual amount applied against the Unallocated Amount pursuant to Section 10.03(a)(ii) divided by .20. Solely with respect to the Class A Member and for purposes of this definition, the Contribution of the Class A Member treated as having been used by the Company to acquire Portfolio Securities shall include the aggregate amount of the Contributed Securities Interest, apportioned among the Contributed Securities in the manner set forth on SCHEDULE D. In no event shall the Members' aggregate Priority Return Amounts exceed, at any time, their aggregate Contributions at such time.