First Priority Return definition

First Priority Return means the receipt by Cogentrix GP and Cogentrix LP of cash distributions from Net Distributable Cash in an aggregate amount sufficient to provide each of Cogentrix GP and Cogentrix LP, as the case may be, with an Internal Rate of Return on its respective Cogentrix Investment hereunder of [information omitted and subject to request for confidential treatment]% calculated in accordance with Schedule 1.1(a) (it being understood that any amounts which are part of Cogentrix Investment pursuant to subsection (b) of the definition of Cogentrix Investment shall only be entitled to such return from the date they are actually paid or made).
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First Priority Return means, as of any calculation date, a nine percent (9%) cumulative annual return, compounded annually, on each Partner’s Unreturned Capital Account balance (computed from time to time to reflect additions to or reductions of such Unreturned Capital Account balance). Any existing Partner increasing its Commitment and any additional Limited Partner admitted on a Subsequent Closing Date shall be entitled to a First Priority Return on the amount of any Capital Contribution made (but not on the amount of any Subsequent Closing Interest paid) pursuant to Section 6.2.7(b) of this Agreement, calculated from the date each portion of such Capital Contribution would have been made if such Limited Partner had been admitted or such existing Partner had increased its Commitment on the Initial Closing. For purposes of calculating the First Priority Return with respect to non-defaulting Partners (taking into account cure periods), the date on which a Capital Contribution is due pursuant to a notice given by the General Partner pursuant to Section 6.3.1(a) of this Agreement shall be deemed to be the date on which a given Capital Contribution has been made.
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First Priority Return means an annual non-cumulative amount --------------------- retained by Owner out of certain portions of Operating Profit, as set forth in Section 5.02 hereof, equal to ten percent (10%) of the Capital Contributions for each Fiscal Year.
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Examples of First Priority Return in a sentence

  • First Priority Return Percentage shall have the meaning set forth in Section 11(c).

  • Notwithstanding anything in the Guaranty to the contrary, for purposes of Section 8.01 of the Guaranty, the principal amount of this Progeny Facility shall equal the outstanding Unrecovered Capital of the Limited Partner plus all accrued and undistributed First Priority Return to be distributed to the Limited Partner in accordance with Section 4.01(a) of the Castle Partnership Agreement plus all other amounts then due and payable to the Limited Partner.

  • If and to the extent that the General Partner estimates that the amount of taxable income allocable to the Class A Limited Partner for such Fiscal Quarter exceeds the First Priority Return allocated to the Class A Limited Partner for such Fiscal Quarter, the General Partner shall, within two Business Days after making such estimate, cause the Partnership to make cash distributions to the Class A Limited Partner in an amount equal to 45% of such excess.

  • The Borrower further acknowledges that the Lender's receipt of any of the Contingent Returns is contingent on the availability of profit and the payment of the Borrower's First Priority Return and the Borrower's Second Priority Return, as applicable.

  • The General Partner shall cause the Partnership to make cash distributions to the Class A Limited Partner on each Distribution Date until the Class A Limited Partner has been distributed an amount equal to the remainder, if any, of (a) the Cumulative First Priority Return from the Closing Date to such Distribution Date, minus (b) all cash distributions in respect of the First Priority Return previously made to the Class A Limited Partner pursuant to this Section 5.01.

  • The indemnification provided pursuant to this Section 6.05(a) shall not guarantee the payment of the First Priority Return, any Class A Limited Partner Guaranteed Payment in lieu thereof, the return of any of the Capital Contributions of the Class A Limited Partner or the retirement or purchase of the Interest of the Class A Limited Partner (whether through the exercise of the Purchase Option or otherwise).

  • The General Partner shall also have the authority to adjust allocations as necessary in order to realize the intended economic arrangement among the Partners, including allocations of gross income for distributions of the First Priority Return and Second Priority Return.

  • To the extent pre-existing Partners have received the amounts distributed pursuant to Section 6.2.7(c) of this Agreement, such pre-existing Partners will not be entitled to the First Priority Return or the Second Priority Return with respect to the portion of capital returned to them under this Section 6.2.7(d).

  • Within ten Business Days after the end of each Fiscal Quarter, the General Partner shall make a good faith estimate of the First Priority Return and the taxable income for United States federal income tax purposes of the Partnership for such Fiscal Quarter.

  • Second, Lessee shall retain the remaining balance of Operating Profit until Lessee has received (to the extent of Operating Profit in that Fiscal Year) its First Priority Return (which shall be prorated among the Accounting Periods within any given Fiscal Year).


More Definitions of First Priority Return

First Priority Return. As of any date, the Unreturned Capital Contribution of a Participant or its Affiliate in a particular Investment Entity multiplied by 12.75% per annum (calculated on a cumulative, compounded annual basis on the Unreturned Capital Contribution of such Participant or its Affiliate in such Investment Entity, as adjusted from time to time, from the date capital contributions are received by such Investment Entity to the date of payment).
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First Priority Return means $1,080,149.
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First Priority Return means, with respect to the Non-managing Member, for each Fiscal Quarter of the Company from inception through the end of the Fiscal Quarter in which Crossover occurs, an amount equal to 5% per annum, non-compounded, on the Non-managing Member's Unrecovered Capital for such Fiscal Quarter (properly adjusted to reflect fluctuations in the amount of such Unrecovered Capital on each day of such Fiscal Quarter). Once Crossover is reached, the First Priority Return shall cease and to the extent permitted by law, shall not be returnable under Section 7.4 or otherwise.
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First Priority Return means an annual non-cumulative amount retained --------------------- by Lessee out of certain portions of Operating Profit, as set forth in Section 5.02 hereof, equal to $75,000 plus ten percent (10%) of the balance, from time to time, of (i) the Capital Contributions, plus (ii) any Additional Inn Investments made after the Execution Date; provided, however, that upon the Termination of this Agreement with respect to a given Inn or Inns (whether in connection with the Sale of the Inn or Inns, or pursuant to other applicable provisions of this Agreement), the
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First Priority Return means, for each Current Period, an amount equal to (a) the First Priority Return Rate for such Current Period multiplied by (b) the sum of (i) (A) the Original Capital Contribution of the Class A Limited Partner described in Section 3.02 plus (B) all Additional Capital Contributions made by the Class A Limited Partner pursuant to Section 3.03(a), adjusted for the timing of any Additional Capital Contributions made during such Current Period, and (ii) (A) the Cumulative First Priority Return as of the immediately preceding Distribution Date minus (B) the cumulative distributions made to the Class A Limited Partner pursuant to Section 5.01 during the period commencing on the Closing Date and ending on the immediately preceding Distribution Date. All computations referred to in this definition shall be determined on the basis of the actual number of days elapsed in a 360-day year (including the first day but excluding the last day) occurring in the period for which the First Priority Return is being calculated.
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First Priority Return. [Confidential material has been omitted pursuant to a request for confidential treatment filed with the Commission under Rule 24b-2(b) and has been filed separately with the Commission.]
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Related to First Priority Return

  • First Priority Secured Parties means, with respect to each Type of Common Collateral, the First Priority Representative and the holders of the First Priority Obligations.

  • Permitted First Priority Refinancing Debt means any secured Indebtedness incurred by the Borrower in the form of one or more series of senior secured notes or senior secured loans; provided that (i) such Indebtedness is secured by the Collateral on a pari passu basis with the Obligations and is not secured by any property or assets of Holdings and its Subsidiaries other than the Collateral, (ii) such Indebtedness constitutes Credit Agreement Refinancing Indebtedness in respect of Term Loans, (iii) such Indebtedness does not mature prior to the Maturity Date of the Refinanced Debt and such Indebtedness shall have a Weighted Average Life to Maturity that is not shorter than the Refinanced Debt, (iv) to the extent applicable, the security agreements relating to such Indebtedness are substantially the same as the Security Documents (with such differences as are reasonably satisfactory to the Administrative Agent), (v) no Restricted Subsidiary guarantees such Indebtedness unless it is a Subsidiary Guarantor (or becomes a Subsidiary Guarantor substantially concurrently with the incurrence of such Indebtedness); provided that, if, at any time, such Restricted Subsidiary ceases to be a Guarantor, it shall not guarantee such Indebtedness, (vi) the other terms and conditions of such Indebtedness (excluding pricing, fees, rate floors, premiums, optional prepayment or optional redemption provisions) reflect market terms and conditions at the time of incurrence and issuance; provided, that, to the extent such terms and documentation are not substantially identical to the Indebtedness being refinanced, (x) such terms (taken as a whole) shall be less favorable to the providers of such Permitted First Priority Refinancing Debt than those applicable to the Indebtedness being refinanced, except, in each case, for financial or other covenants or other provisions contained in such Indebtedness that are applicable only after the then Latest Maturity Date, or (y) such documentation shall be reasonably acceptable to the Administrative Agent and (vii) a Senior Representative acting on behalf of the holders of such Indebtedness shall have become party to a Pari Passu Intercreditor Agreement and the Administrative Agent shall have become a party to the Pari Passu Intercreditor Agreement (or any then-existing Pari Passu Intercreditor Agreement shall have been amended or replaced in a manner reasonably acceptable to the Administrative Agent, which results in such Senior Representative having rights to share in the Collateral as provided in clause (i) above). Permitted First Priority Refinancing Debt will include any Registered Equivalent Notes issued in exchange therefor.

  • First Priority Principal Distribution Amount means, with respect to any Payment Date, an amount equal to the excess, if any, of (a) the Class A Note Balance as of such Payment Date (before giving effect to any principal payments made on the Class A Notes on such Payment Date), over (b) the related Adjusted Pool Balance; provided, however, that (i) the First Priority Principal Distribution Amount on the Class A-1 Final Scheduled Payment Date shall not be less than the amount that is necessary to reduce the outstanding principal amount of the Class A-1 Notes to zero; (ii) the First Priority Principal Distribution Amount on the Class A-2a Final Scheduled Payment Date shall not be less than the amount that is necessary to reduce the outstanding principal amount of the Class A-2a Notes to zero; (iii) the First Priority Principal Distribution Amount on the Class A-2b Final Scheduled Payment Date shall not be less than the amount that is necessary to reduce the outstanding principal amount of the Class A-2b Notes to zero; (iv) the First Priority Principal Distribution Amount on the Class A-3 Final Scheduled Payment Date shall not be less than the amount that is necessary to reduce the outstanding principal amount of the Class A-3 Notes to zero; and (v) the First Priority Principal Distribution Amount on the Class A-4 Final Scheduled Payment Date shall not be less than the amount that is necessary to reduce the outstanding principal amount of the Class A-4 Notes to zero.

  • Lowest Priority As of any date of determination, the Class of Subordinate Certificates then outstanding with the latest priority for payments pursuant to Section 4.02(a), in the following order: Class B-3, Class B-2, Class B-1, Class M-3, Class M-2 and Class M-1 Certificates.

  • First Priority Principal Payment means, for a Payment Date, the greater of: