Preference Return Sample Clauses

Preference Return. “Preference Return” shall mean a return at a rate equal to eight percent (8.0%) per annum on the amount of each Member’s Outstanding Capital Contribution existing from time to time. To the extent that the Company has Company Available Cash Flow, the Preference Return shall be paid quarterly in cash. To the extent that the Company does not have Company Available Cash Flow sufficient to pay the Preference Return when due, the Preference Return shall compound annually at eight percent (8.0%) per annum and shall accumulate (the “Accumulated Preference Return”).
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Preference Return. Westinghouse acknowledges that it received a ----------------- preference in the amount of $363,060 (the "Preference Amount") which shall be recovered as set forth in paragraph 5 below. The NTC Allowed Claim shall be increased by the Preference Amount. Westinghouse shall fund repayment of the Preference Amount solely from the proceeds of the liquidation of the collateral held by it as set forth in paragraph 5 below. The preference recovery has been taken into account in determining the amount of the Allowed Claims in paragraph 1 by increasing the NTC Allowed Claim, but not the Bent▇▇ ▇▇▇owed Claim.
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Preference Return. In the case of Partners, a preference return on the respective Accumulated Capital Bases of the Partners computed at a rate of 7.72% per annum, compounded monthly to equal an annual rate of 8.0%; and in the case of Tenant, a preference return on the Tenant Advances remaining unpaid from time to time computed at a rate of 7.72% per annum, compounded monthly to equal an annual rate of 8% (such monthly compounding will be effected on the last day of each calendar month in arrears).
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Preference Return. (i) Holders of Preferred Units are entitled to receive, when, as and if authorized by the Managing Member, and declared by the Company, out of funds legally available for payment of distributions, cumulative preferential cash distributions at an annual rate equal to the applicable Preference Return for such period applied to the applicable Base Preference Amount for such period. Such distributions shall accumulate on a daily basis. (ii) No distributions on Preferred Units shall be authorized by the Managing Member or paid or set apart for payment by the Company at any time when the terms and provisions of any agreement of the Company, including any agreement relating to any indebtedness of the Company, prohibits such authorization, payment or setting apart for payment thereof or provides that the authorization, payment or setting apart for payment thereof would constitute a breach of the agreement or a default under the agreement, or if the authorization, payment or setting apart for payment shall be restricted or prohibited by law, or if the Company is insolvent or would be made insolvent by making such distribution or payment. (iii) Notwithstanding anything to the contrary contained herein, distributions on the Preferred Units will accumulate whether or not the terms and provisions of any laws or agreements referred to in this Section 4.9(b)(iii) hereof at any time prohibit the current payment of distributions, whether or not the Company has earnings, whether or not there are funds legally available for the payment of such distributions and whether or not such distributions are authorized or declared. No interest, or sum in lieu of interest, will be payable in respect of any distribution on the Preferred Units which may be in arrears, and holders of the Preferred Units will not be entitled to any distributions in excess of full cumulative distributions described in Section 4.9(b)(i) hereof (other than pursuant to Section 5.2(a)(ii) upon a liquidation or winding up of the Company or upon a Deemed Liquidation). Any distribution made on the Preferred Units will first be credited against the earliest accumulated but unpaid distribution due with respect to the Preferred Units.
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Related to Preference Return

  • Preference Issues If any Senior Secured Party is required in any Insolvency or Liquidation Proceeding or otherwise to disgorge, turn over or otherwise pay any amount to the estate of the Company or any other Grantor (or any trustee, receiver or similar Person therefor), because the payment of such amount was declared to be fraudulent or preferential in any respect or for any other reason, any amount (a “Recovery”), whether received as proceeds of security, enforcement of any right of setoff or otherwise, then the Senior Obligations shall be reinstated to the extent of such Recovery and deemed to be outstanding as if such payment had not occurred and the Senior Secured Parties shall be entitled to the benefits of this Agreement until a Discharge of Senior Obligations with respect to all such recovered amounts. If this Agreement shall have been terminated prior to such Recovery, this Agreement shall be reinstated in full force and effect, and such prior termination shall not diminish, release, discharge, impair or otherwise affect the obligations of the parties hereto. Each Second Priority Representative, for itself and on behalf of each Second Priority Debt Party under its Second Priority Debt Facility, hereby agrees that none of them shall be entitled to benefit from any avoidance action affecting or otherwise relating to any distribution or allocation made in accordance with this Agreement, whether by preference or otherwise, it being understood and agreed that the benefit of such avoidance action otherwise allocable to them shall instead be allocated and turned over for application in accordance with the priorities set forth in this Agreement.

  • Interest on and Return of Capital Contributions No Member shall be entitled to interest on its Capital Contribution or to return of its Capital Contribution, except as otherwise specifically provided for herein.

  • Preference Claims (a) In the event that the Trust Collateral Agent has received a certified copy of an order of the appropriate court that any Scheduled Payment (as defined in the Note Policy) paid on a Note has been avoided in whole or in part as a preference payment under applicable bankruptcy law, the Trust Collateral Agent shall so notify the Insurer, shall comply with the provisions of the Note Policy to obtain payment by the Insurer of such avoided payment, and shall, at the time it provides notice to the Insurer, notify Holders of the Notes by mail that, in the event that any Noteholder's payment is so recoverable, such Noteholder will be entitled to payment pursuant to the terms of the Note Policy. The Trust Collateral Agent shall furnish to the Insurer its records evidencing the payments of principal of and interest on Notes, if any, which have been made by the Trust Collateral Agent and subsequently recovered from Noteholders, and the dates on which such payments were made. Pursuant to the terms of the Note Policy, the Insurer will make such payment on behalf of the Noteholder to the receiver, conservator, debtor-in-possession or trustee in bankruptcy named in the Order (as defined in the Note Policy) and not to the Trust Collateral Agent or any Noteholder directly (unless a Noteholder has previously paid such payment to the receiver, conservator, debtor-in-possession or trustee in bankruptcy, in which case the Insurer will make such payment to the Trust Collateral Agent for distribution to such Noteholder upon proof of such payment reasonably satisfactory to the Insurer). (b) The Trust Collateral Agent shall promptly notify the Insurer of any proceeding or the institution of any action (of which a Responsible Officer of the Trust Collateral Agent has actual knowledge) seeking the avoidance as a preferential transfer under applicable bankruptcy, insolvency, receivership, rehabilitation or similar law (a "Note Preference Claim") of any distribution made with respect to the Notes. Each Holder, by its purchase of Notes, and the Trust Collateral Agent hereby agree that so long as an Insurer Default shall not have occurred and be continuing, the Insurer may at any time during the continuation of any proceeding relating to a Preference Claim direct all matters relating to such Preference Claim, including, without limitation, (i) the direction of any appeal of any order relating to any Preference Claim and (ii) the posting of any surety, supersedes as or performance bond pending any such appeal at the expense of the Insurer, but subject to reimbursement as provided in the Insurance Agreement. In addition, and without limitation of the foregoing, as set forth in Section 6.1(c), the Insurer shall be subrogated to, and each Noteholder and the Trust Collateral Agent hereby delegate and assign, to the fullest extent permitted by law, the rights of the trustee and each Noteholder in the conduct of any proceeding with respect to a Preference Claim, including, without limitation, all rights of any party to an adversary proceeding action with respect to any court order issued in connection with any such Preference Claim.

  • Priority and Return of Capital No Member shall have priority over any other Member, either as to the return of Capital Contributions or as to Net Profits, Net Losses or Distributions. This Section shall not apply to loans (as distinguished from Capital Contributions), which a Member has made to the Company.

  • Liquidating Dividends If the Company declares or pays a dividend upon the Common Stock payable otherwise than in cash out of earnings or earned surplus (determined in accordance with generally accepted accounting principles, consistently applied) except for a stock dividend payable in shares of Common Stock (a “Liquidating Dividend”), then the Company shall pay to the Registered Holder of this Warrant at the time of payment thereof the Liquidating Dividend which would have been paid to such Registered Holder on the Warrant Stock had this Warrant been fully exercised immediately prior to the date on which a record is taken for such Liquidating Dividend, or, if no record is taken, the date as of which the record holders of Common Stock entitled to such dividends are to be determined.