Series B Preferred Return shall have the meaning provided in Section 5(a).
Series B Preferred Return means, for each Series B Preferred Unit, a cumulative, non-compounded rate of return equal to $0.74 per annum; provided, that the amount payable for any Series B Distribution Period shall be computed by dividing the Series B Preferred Return by twelve, and the amount of distributions payable for any period shorter or longer than a full Series B Distribution Period shall be computed on the basis of twelve 30-day months and a 360-day year.
Series B Preferred Return means, with respect to any outstanding Series B Preferred Unit as of the relevant time of reference thereto, a cumulative non-compounding preferred return computed at an annual rate of eight percent (8%), on the Unreturned Capital Contribution with respect to such Series B Preferred Unit. The Series B Preferred Return with respect to each Series B Preferred Unit shall continue to accrue day to day with respect to each Capital Contribution in respect of each Series B Preferred Unit on the Unreturned portion of each Capital Contribution from time to time until the earlier of (i) the date on which the full amount of such Capital Contribution has been returned and (ii) the date on which such Series B Preferred Unit is otherwise no longer outstanding.
Examples of Series B Preferred Return in a sentence
No interest or additional distributions shall be payable in respect of any accrued and unpaid Series B Preferred Return.
Any distribution made on the Series B Preferred Units shall first be credited against the earliest accrued but unpaid Series B Preferred Return which remains payable.
Holders of Series B Preferred Units shall not be entitled to any distribution, whether payable in cash, property or units of the Partnership, in excess of the Series B Preferred Return on the Series B Preferred Units as provided above.
The General Partner may from time to time establish such repurchase rights and/or other requirements with respect to the Partners’ GP-Related Partner Interests relating to GP-Related BTO IV Investments as the General Partner may determine.
The Series B Preferred Return shall be payable quarterly, in equal amounts, on or about the 15th day of January, April, July and October of each year (or, if not a business day, the next succeeding business day, each a “Series B Preferred Unit Distribution Payment Date’’) for the period ending on such Series B Preferred Unit Distribution Payment Date, commencing on July 15, 2014.
More Definitions of Series B Preferred Return
Series B Preferred Return means, as of any date of determination, with respect to a holder of Series B Preferred Shares, an amount equal to the Series B Preferred Rate, cumulative and compounded semi-annually, on the amount of the holder's Series B Invested Capital, from the date of the initial Capital Contribution in respect of such Series B Shares to the date of determination (taking into account, as appropriate, payments pursuant to Section 6.2(c) with respect to such Series B Preferred Return).
Series B Preferred Return means an amount per Series B Preferred Unit equal to the greater of (i) an annual distribution of $1.84 or (ii) the regular cash distributions on the Common Units, or portion thereof, into which a Series B Preferred Unit is convertible. The Series B Preferred Return will be based on the General Partner's Capital Contribution in respect of the Series B Preferred Units for which the Series B Preferred Return is being determined as provided in the definition of Series B Preferred Units below (taking into account any reduction of such Capital Contribution by any redemptions or conversions of such Series B Preferred Units), commencing on the first date such Series B Preferred Units are issued to the General Partner. It is intended that the Series B Preferred Return will be equal to the dividends and any additional amounts payable on the Series B Preferred Shares to the holders thereof so that the General Partner will receive a Series B Preferred Return in an amount sufficient for the General Partner to make all payments in respect of the Series B Preferred Shares.
Series B Preferred Return means, with respect to the Series B Interest, a return, calculated in the nature of interest, at a rate equal to the Series B Preferred Return Rate on the Series B Unreturned Preferred Capital. For any partial quarterly period, the amount of the Series B Preferred Return shall be prorated and computed on the basis of a 360-day year consisting of twelve 30-day months.
Series B Preferred Return shall have the meaning provided in Section 14.04(a).
Series B Preferred Return means an annualized amount equal to $2.1875 per Series B Preferred Unit.
Series B Preferred Return means (i) for the period prior to December 31, 2005, a fixed per annum rate per Series B Preferred Partnership Unit of 12.50% of the Series B Preference Value per Unit and (ii) for the period beginning on January 1, 2006, as follows for each Series B Preferred Partnership Unit: (A) a fixed quarterly rate of 3.625% of the Series B Preference Value per Unit xxx xxx xxxxxxx xxxxxx Xxxxx 00, 0000, (X) x xixed quarterly rate of 4.125% of the Series B Preference Value per Unit for the quarter ending June 30, 2006, (C) a fixed quarterly rate of 4.625% of the Series B Preference Value per Unit for the quarter ending September 30, 2006, and (D) a fixed quarterly rate of 5.125% of the Series B Preference Value per Unit for the quarter ending December 31, 2006 and thereafter. The Series B Preferred Return will be increased by 0.625% per quarter of the Series B Preference Value per Unit per Series B Preferred Partnership Unit (or 2.50% per annum of the Series B Preference Value per Unit per Series B Preferred Partnership Unit) in the event that and for so long as the Company's Consolidated Total Indebtedness (as defined in the Articles of Amendment) exceed 60% of its Total Asset Value (as defined in the Articles of Amendment). The General Partner's Series B Preferred Return (i) shall be cumulative, (ii) if unpaid, shall accrue interest at an annual rate equal to the distribution rate referred to above in effect from time to time (annualized to the extent that such rate is stated as a quarterly rate), and (iii) shall be prorated for any partial calendar quarter.
Series B Preferred Return means a cumulative amount accruing (or deemed to accrue) daily in cash on the amount of the Series B Contribution Account (as defined below) of each Innocrin Series B Share from and after the date of the Spin-Off, at the rate of eight percent (8.0%) per annum, computed on the basis of a three hundred sixty-five (365) day year. “Series B Contribution Account” means an account maintained with respect to each Innocrin Series B Share equal to the difference between (a) $0.60 less (b) the cumulative distributions made in respect of such Innocrin Series B Share. The accrued unpaid Series B Preferred Return will include a portion of the return that accrued on the Viamet Series B Shares prior to the Spin-Off, which will be allocated to reflect the separation of the businesses. Notwithstanding the above, any accrued amount of the Series B Preferred Return will be relinquished in the event of any optional or mandatory conversion.