Series B Distribution Rate definition

Series B Distribution Rate means an annual rate equal to (i) during the Series B Fixed Rate Period, 7.625% of the Series B Liquidation Preference and (ii) during the Series B Floating Rate Period, a percentage of the Series B Liquidation Preference equal to the sum of (a) the Series B Three-Month LIBOR, as calculated on each applicable Series B LIBOR Determination Date, and (b) 5.643%.

Series B Distribution Rate means 6.375%.

Series B Distribution Rate means a rate equal to 8.50% per annum of the Stated Series B Liquidation Preference per Series B Preferred Unit.

Examples of Series B Distribution Rate in a sentence

• Distributions shall accumulate in each Series B Distribution Period from and including the preceding Series B Distribution Payment Date (other than the initial Series B Distribution Period, which shall commence on and include the Series B Original Issue Date), to but excluding the next Series B Distribution Payment Date for such Series B Distribution Period, and distributions shall accrue on accumulated Series B Distributions at the Series B Distribution Rate.

• If the distribution rate per annum on the Series B Preferred Shares issued by the Issuer shall increase pursuant to Section 14.5 of the Issuer LLC Agreement, then the Series B Distribution Rate shall increase by the same amount beginning on the same date as set forth in Article XIV of the Issuer LLC Agreement.

• Distributions shall accumulate in each Series B Distribution Period from and including the preceding Series B Distribution Payment Date (other than the initial Series B Distribution Period, which shall commence on and include the Series B Original Issue Date), to but excluding the next Series B Distribution Payment Date for such Series B Distribution Period and distributions shall accrue on accumulated Series B Distributions at the Series B Distribution Rate.

• Distributions shall accumulate in each Series B Distribution Period from and including the preceding Series B Distribution Payment Date (other than the initial Series B Distribution Period, which shall commence on and include the Series B Original Issue Date), to but excluding the next Series B Distribution Payment Date for such Series B Distribution Period; provided that distributions shall accrue on accumulated but unpaid Series B Distributions at the Series B Distribution Rate.

• Series B Holders shall be entitled to receive Series B Distributions from time to time out of any assets of the Partnership legally available for the payment of distributions at the Series B Distribution Rate per Series B Preference Unit when, as, and if declared by the Board of Directors.

More Definitions of Series B Distribution Rate

Series B Distribution Rate means a rate equal to 3.40% per annum of the Original Series B Purchase Price per Series B Preferred Unit.

Series B Distribution Rate means (i) until and including April 15, 2018, a rate equal to 8.00% per annum of the Series B Issue Price and (ii) after April 15, 2018, a rate equal to the greater of (a) 8.00% per annum of the Series B Issue Price and (b) the amount equal to the distributions that would be payable on the Partnership’s Common Units issuable upon conversion of one Series B Preferred Unit, based on the distributions declared by the General Partner to be paid in that month under Section 6.3, if such Series B Preferred Unit was converted into Common Units at the Series B Conversion Ratio on the Record Date selected by the General Partner pursuant to Section 6.3; provided, however, that if the General Partner makes a distribution with respect to the Common Units in that month as a quarterly distribution under Section 6.3(a)(i) instead of a monthly distribution under Section 6.3(a)(ii) and if the difference between (A) the amount of the quarterly distribution that would be payable on the Partnership’s Common Units issuable upon conversion of one Series B Preferred Unit, based on the distributions declared by the General Partner to be paid for that Quarter under Section 6.3(a)(i), if such Series B Preferred Unit was converted into Common Units at the Series B Conversion Ratio on the Record Date selected by the General Partner pursuant to Section 6.3, minus (B) three times the amount of the monthly distribution on one Series B Preferred Unit calculated at a rate equal to 8% per annum of the Series B Issue Price is positive, the amount in the preceding clause (b) for the month of the quarterly distribution shall be equal to the result of (x) the distributions that would be payable on the Common Units issuable upon conversion of one Series B Preferred Unit, based on the distributions declared by the General Partner to be paid for that Quarter under Section 6.3 minus (y) (2) two times the amount of the monthly distribution on one Series B Preferred Unit calculated at a rate equal to 8% per annum of the Series B Issue Price; provided further that, in the event there is an Event of Noncompliance, the Series B Distribution Rate shall increase by 2.00%, effective as of the date of the first Event of Noncompliance until the first Series B Distribution Payment Date on which no Event of Noncompliance exists and provided further that, if an Event of Noncompliance exists on the seventh Series B Distribution Payment Date following the occurrence of the Event of Noncompliance, the Series B Dis...

Series B Distribution Rate means an annual rate equal to 9.50% of the Series B Stated Liquidation Preference per Series B Preferred Unit.

Series B Distribution Rate means a fixed rate per Quarter equal to 2.0625% multiplied by the weighted-average Series B Liquidation Value during such Quarter; provided, however, that with respect to the period commencing on the Series B Issuance Date and ending on the last day of the Quarter in which the Series B Issuance Date occurs, “Series B Distribution Rate” shall mean a fixed rate equal to 2.0625% multiplied by the weighted-average Series B Liquidation Value during such Quarter multiplied by a fraction of which the numerator is the number of days in such period and the denominator is the number of days in the Quarter in which the Series B Issuance Date occurs; provided, further, however, for each Quarter ending after the third anniversary of the Series B Issuance Date, “Series B Distribution Rate” shall mean a fixed rate per Quarter equal to (A) the greater of (1) 8.25% and (2) the LIBOR Rate plus 750 basis points, divided by (B) four, and multiplied by (C) the weighted-average Series B Liquidation Value during such Quarter.

Series B Distribution Rate means a fixed rate equal to 2.0625% multiplied by the weighted-average Series B Liquidation Value during such Quarter multiplied by a fraction of which the numerator is the number of days in such period and the denominator is the number of days in the Quarter in which the Series B Issuance Date occurs; provided, further, however, for each Quarter ending after the third anniversary of the Series B Issuance Date, “Series B Distribution Rate” shall mean a fixed rate per Quarter equal to (A) the greater of (1) 8.25% and (2) the LIBOR Rate plus 750 basis points, divided by (B) four, and multiplied by (C) the weighted-average Series B Liquidation Value during such Quarter.

Series B Distribution Rate means a fixed rate per Quarter equal to (A) the greater of (1) 8.25% and (2) the LIBOR Rate plus 750 basis points, divided by (B) four, and multiplied by (C) the weighted-average Series B Liquidation Value during such Quarter.

Series B Distribution Rate means 6.550%. “Series B Holder” means a Record Holder of Series B Preferred Units. “Series B Liquidation Preference” means $25.00 per Series B Preferred Unit. “Series B Liquidation Value” means the sum of the Series B Liquidation Preference and declared and unpaid distributions, if any, to, but excluding, the date of the Dissolution Event on the Series B Preferred Units. “Series B Preferred Unit” means a 6.550% Series B Preferred Unit having the designations, rights, powers and preferences set forth in Article II of this Unit Designation. “Series B Record Date” means, with respect to any Distribution Payment Date, the March 1, June 1, September 1 or December 1, as the case may be, immediately preceding the relevant March 15, June 15, September 15 or December 15 Distribution Payment Date, respectively. These Series B Record Dates shall apply regardless of whether a particular Series B Record Date is a Business Day. The Series B Record Dates shall constitute Record Dates with respect to the Series B Preferred Units for the purpose of distributions on the Series B Preferred Units.