Preferred Return Shortfall definition

Preferred Return Shortfall means, for any holder of Non-Managing Member Units and as of any date, the amount (if any) by which (i) the Preferred Return Per Unit with respect to all Non-Managing Member Units held by such holder exceeds (ii) the aggregate amount previously distributed with respect to such Non-Managing Member Units pursuant to Section 5.1.A(1), Section 5.6.A(1) or Section 5.6.B(1) hereof, together with cumulative simple interest accruing thereon at the Prime Rate from the applicable LLC Distribution Date to the date of distribution.
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Preferred Return Shortfall means, for any Partnership Common Unit, and as of any specified date, the amount (if any) by which (i) the Preferred Return with respect to such Partnership Common Unit as of such specified date, exceeds (ii) the aggregate amount distributed with respect to such Partnership Common Unit after the Amendment Date and prior to such specified date pursuant to Section 5.1A, but excluding any Elective Dividend Cash Payment.
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Preferred Return Shortfall means, for any holder of Partnership Units, the amount (if any) by which (i) the Preferred Return Per Unit with respect to all Partnership Units held by such holder exceeds (ii) the aggregate amount previously distributed with respect to such Partnership Units pursuant to (a) Section 5.1(a) and Section 5.4(a) hereof with respect to the Class A Partnership Units, or (b) Section 5.1(b) and Section 5.4(b) hereof with respect to the Class B Partnership Units.
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Examples of Preferred Return Shortfall in a sentence

  • In the event there is a Preferred Return Shortfall with respect to more than one (1) Nonmanaging Member, then the Managing Member shall make such payments on account thereof pro rata to their relative Percentage Interests (as determined on the date distributions were made pursuant to Section 5.2(a)(v)), subject to the limitation set forth in the preceding sentence of this Section 5.2(c).

  • In the event that on the LLC Distribution Date most recently preceding the Specified Exchange Date there shall have been a Preferred Return Shortfall remaining in respect of the Tendered Units following the payments made on such LLC Distribution Date pursuant to Section 5.1 hereof, the Managing Member shall pay the Tendering Party in cash on the Specified Exchange Date the amount of such Preferred Return Shortfall remaining on such LLC Distribution Date in respect of the Tendered Units.

  • In addition, the Managing Member shall cause the Company to pay the Tendering Party the amount of any Preferred Return Shortfall outstanding as of the Specified Exchange Date with respect to the Tendered Units.

  • The Cash Amount and any such Preferred Return Shortfall shall be delivered at the option of the Tendering Party by wire transferred funds or as a certified check payable to the Tendering Party.

  • The undersigned has accepted possession and entered into occupancy of the Premises.

  • In addition, subject to Section 18.607 of the Act, the Managing Member shall cause the Company to pay the Tendering Party the amount of any Preferred Return Shortfall outstanding as of the Specified Exchange Date with respect to the Tendered Units.

  • The parties agree that in the event of such offset, they will not issue additional documents in relation to the offset.

  • The Preferred Return Shortfall (as defined in the Partnership LPA) with respect to all Partnership Common Units held by all holders thereof is zero.


More Definitions of Preferred Return Shortfall

Preferred Return Shortfall means, for any holder of LLC Units (other than the Managing Member), the excess (if any) of (i) the Preferred Return Per Unit with respect to all LLC Units held by such holder over (ii) the aggregate amount previously distributed with respect to such LLC Units pursuant to Section 5.1 hereof together with cumulative interest accruing thereon at the Prime Rate from the applicable LLC Record Date to the date of distribution pursuant to Section 5.1.A.
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Preferred Return Shortfall means, for any holder of Non-Managing Member Units, the amount (if any) by which (i) the Preferred Return Per Unit with respect to all Non-Managing Member Units held by such holder exceeds (ii) the aggregate amount previously distributed with respect to such Non-Managing Member Units pursuant to Section 5.1.A(1) or Section 5.6A(1) hereof, together with cumulative interest accruing thereon at the Prime Rate from the applicable LLC Record Date to the date of distribution.
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Preferred Return Shortfall means, with respect to each Preferred Limited Partner, the excess of the Preferred Return of that Preferred Limited Partner as of the date in question over the amount of Net Income previously allocated to such Preferred Limited Partner pursuant to Section 9.6.
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Preferred Return Shortfall means, for any holder of LLC Units (other than the Managing Member), the excess (if any) of (i) the cumulative Preferred Return with respect to all LLC Units held by such holder over (ii) the aggregate amount previously distributed with respect to such LLC Units pursuant to clauses (1) and (2) of Section 5.1.A hereof, excluding any Preferred Return for the month in which the Preferred Return Shortfall is calculated. "Prime Rate" means on any date, a rate equal to the annual rate on such date announced by LaSalle National Bank in Chicago, Illinois to be its prime, base or reference rate for 90- day unsecured loans to its corporate borrowers of the highest credit standing but in no event greater than the maximum rate then permitted under applicable law. If LaSalle National Bank discontinues its use of such prime, base or reference rate or ceases to exist, the Managing Member shall designate the prime, base or reference rate of another state or federally chartered bank based in Chicago, Illinois to be used for the purpose of calculating the Prime Rate hereunder (which rate shall be subject to limitation by all applicable usury laws).
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Preferred Return Shortfall means, for any holder of Class A Units or Class B Units, and as of any date, the amount (if any) by which (i) the Preferred Return Per Unit with respect to all Class A Units or Class B Units held by such holder exceeds (ii) the aggregate amount previously distributed with respect to such Class A Units pursuant to Section 5.1(a) (in the case of Class A Units) or Section 5.1(b) (in the case of Class B Units), or pursuant to Section 13.2(a) (in the case of Class A Units or Class B Units).
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Preferred Return Shortfall means, for any holder of Non-Managing Member Units and as of any date, the amount (if any) by which (i) the Preferred Return Per Unit with respect to all issued and outstanding Non-Managing Member Units held by such holder exceeds (ii) the aggregate amount previously distributed with respect to such issued and outstanding Non-Managing Member Units pursuant to Section 5.1.A(1), Section 5.6.A(1) or Section 5.6.B(1) hereof, together with cumulative simple interest accruing thereon at the Prime Rate from the applicable LLC Distribution Date to the date of distribution.
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Related to Preferred Return Shortfall

  • Preferred Return has the meaning specified in the Company LLC Agreement.

  • Class A-P Collection Shortfall With respect to the Cash Liquidation or REO Disposition of a Discount Mortgage Loan and any Distribution Date, the excess of the amount described in Section 4.02(b)(i)(C)(1) over the amount described in Section 4.02(b)(i)(C)(2).

  • Accumulation Shortfall shall initially mean zero and shall thereafter mean, with respect to any Monthly Period during the Controlled Accumulation Period, the excess, if any, of the Controlled Deposit Amount for the previous Monthly Period over the amount deposited into the Principal Funding Account pursuant to subsection 4.9(c)(i) with respect to the Certificates for the previous Monthly Period.

  • Class B Interest Shortfall shall have the meaning specified in subsection 4.02(b).

  • Note Interest Shortfall means, for a Class and a Payment Date, an amount equal to the excess, if any, of the Accrued Note Interest for the prior Payment Date for the Class over the amount of interest that was paid to the Noteholders of that Class on the prior Payment Date, together with interest on the excess amount, to the extent lawful, at the Note Interest Rate for the Class for that Interest Period.