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.
Notwithstanding anything to the contrary contained herein, the Series B Preferred Return will accrue whether or not distributions are authorized by the General Partner or declared by the Partnership.
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.
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.
The Wayne County Inspections Department is responsible for issuing building permits and inspection of all new construction including residential and non-residential buildings, renovations, and re-inspections of vacant buildings in the County’s jurisdiction and all of the towns except Mount Olive and the City of Goldsboro.
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, 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 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 shall have the meaning provided in Section 14.04(a).
Series B Preferred Return means an annualized amount equal to $2.00 per Series B Preferred Unit.
Series B Preferred Return means a return calculated to provide a cumulative, semi- annually compounded return in an amount equal to ten percent (10%) per annum determined on the basis of a year of 365 or 366 days, as the case may be, for the actual number of days occurring in the period for which the Series B Preferred Return is being determined, of the average daily balance of the sum of (a) the Series B Unreturned Preferred Limited Partner Balance outstanding, if any, from time to time during the period to which the Preferred Return relates, plus (b) the Unallocated Series B Preferred Return outstanding, if any, from time to time during the period to which the Preferred Return relates (excluding from such calculation, however, the Preferred Return for the period for which such calculation is being made), commencing on the date on which the applicable Series B Preferred Limited Partner Capital Contribution was made by the contributing Preferred Limited Partner. The Series B Preferred Return shall be calculated for each semi-annual period as of June 30 and December 31 and, to the extent not paid for any such period, the Series B Preferred Return shall cumulate on each June 30 and December 31 as provided herein and the amounts which so cumulate shall be added to the Series B Preferred Return as described above.
Series B Preferred Return means an amount per Series B Preferred Share equal to the (a) the amount identified as the “Series B Preferred Return” of each holder on Schedule B hereto, which reflects the Series B Preferred Return as of October 14, 2014 plus (b) the cumulative amount accruing (or deemed to accrue) daily in cash on the amount of the Series B Contribution Account of each Series B Preferred Share from and after such date, at the rate of eight percent (8.0%) per annum, computed on the basis of a three hundred sixty-five (365) day year; provided, that the Series B Preferred Return shall only be payable (i) when, as and if declared by the Board, (ii) upon a Deemed Liquidation Event, (iii) upon a redemption pursuant to Article 9, or (iv) on the date such Series B Preferred Share is otherwise acquired by the Company. Notwithstanding the above, any accrued amount of the Series B Preferred Return shall be relinquished in the event of any optional or mandatory conversion of such Shares pursuant to the terms hereof.