Examples of Series B Preferred Capital in a sentence
For purposes of determining such return, Series B Preferred Distributions (other than Series B Preferred Distributions on any Special Series B Preferred Capital) shall be prorated between the amount of Series B Preferred Capital then being purchased and the amount of Series B Preferred Capital not then being purchased (other than any Special Series B Preferred Capital).
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As of the date of such transfer, the transferee shall succeed to the Capital Account, Common Capital Contribution, Preferred Capital Contribution, Series A Preferred Capital Contribution and Series B Preferred Capital Contribution of the transferor Partner, to the extent that the transferor's Capital Account, Common Capital Contribution, Preferred Capital Contribution, Series A Preferred Capital Contribution and Series B Preferred Capital Contribution relate to the transferred interest.
In the event that GMAC-CM is permitted under the terms of Section 19(f) to exercise its redemption option and it elects to do so, GMAC-CM shall give the Company and the other Members notice of such election not less than seventy-five (75) days prior to the applicable anniversary date specifying the amount of outstanding Series B Preferred Capital to be redeemed and the applicable redemption price therefor.
If there is neither Senior Preferred Capital nor Series B Preferred Capital outstanding and FUR Subsidiary has not exercised its call option pursuant to either or both Section 19(c) and/or Section 19(d), then FUR Subsidiary may elect to convert all of its outstanding Series A Preferred Capital to Class B Common Capital within five (5) business days of the expiration of FUR Subsidiary's call options under said Sections 19(c) and 19(d).
Except as agreed to by the Partners in accordance with Section 3.2 hereof, there shall be no further assessments for additional Common Capital Contributions, Series A Preferred Capital Contributions, Series B Preferred Capital Contributions or Series C Preferred Capital Contributions by the Partners to the Partnership.
The redemption price of such Series B Preferred Capital shall be equal to 100% of the face amount being purchased plus such additional amount, if any, as would provide GMAC-CM with a 15.75% per annum internal rate of return, compounded monthly, on the amount purchased, after giving recognition to the amount and timing of Series B Preferred Distributions (other than Series B Preferred Distributions on any Special Series B Preferred Capital).
The purchase price for such Special Series B Preferred Capital shall be equal to (i) the sum of two times the Series B Accumulated Preferred Distribution, if any, thereon plus (ii) two times the accrued and unpaid Series B Preferred Distribution thereon plus (iii) the aggregate amount of all Series B Preferred Distributions made thereon and (iv) $100, all determined after giving effect to the 10% per annum rate provided for in the definition of Series B Preferred Distribution.
Any Special Series B Preferred Capital acquired by FUR Subsidiary hereunder shall be automatically converted without any action by the Company into an equal amount of Series A Preferred Capital.
Any Series B Preferred Capital acquired by FUR Subsidiary hereunder shall be automatically converted without any action by the Company on the Option Closing Date into an equal amount of Series A Preferred Capital.