Series M Priority Return definition
Series M Priority Return means an amount equal to 6 3/4% per annum on an amount equal to $25 per Series M Preferred Unit then outstanding (equivalent to $1.6875 per annum). Such amount shall be determined on a daily basis computed on the basis of a 360-day year of twelve 30-day months (or actual days for any month which is shorter than a full monthly period), cumulative from November 25, 2003 to the extent not distributed for any given distribution period pursuant to Sections 5.1 and 21.3 hereof. Notwithstanding the foregoing, distributions on the Series M Preferred Units will accrue whether or not the terms and provisions of any agreement of the Partnership at any time prohibit the current payment of distributions, whether or not the Partnership has earnings, whether or not there are funds legally available for the payment of such distributions and whether or not such distributions are authorized. Accrued but unpaid distributions on the Series M Preferred Units will accumulate as of the Preferred Unit Distribution Payment Date on which they first become payable.
Series M Priority Return means an amount equal to 6 3/4% per annum on an amount equal to $25 per Series M Preferred Unit then outstanding (equivalent to