Distribution Rate

Distribution Rate. Means, for each Preferred Unit, an amount equal to (a) the Premium Preferred Distribution, multiplied by (b) the number of Common Units into which the Preferred Unit is convertible on the applicable Record Date.

Distribution Rate. A rate of 6.25% per annum of the Liquidation Amount (subject to proportionate adjustment in the event of a unit split, unit distribution, combination or other proportionate reduction or increase to the Series A Preferred Units); provided, however, if the Series A Preferred Units has not been redeemed or repurchased in full on or prior to the Fifth Anniversary Date, such Distribution Rate shall increase at the rate of 0.75% per annum of the Liquidation Amount for the initial year after the Fifth... Anniversary Date, and shall increase an additional 0.75% per annum of the Liquidation Amount each year thereafter to a maximum of 9.0% per annum of the Liquidation Amount until the tenth anniversary of the First Issuance Date, at which time the Distribution Rate shall increase 0.75% per annum of the Liquidation Amount each year thereafter until the Series A Preferred Units are redeemed or repurchased in full. View More