Application of Cash. Subject to Section 7.3, ARTICLE XI and any Interest Designation, any Free Cash Flows of each Series after (i) repayment of any amounts outstanding under Operating Expenses Reimbursement Obligations including any accrued interest as there may be and (ii) the creation of such reserves as the Managing Member deems necessary, in its sole discretion, to meet future Operating Expenses, shall be applied and distributed, 100% by way of distribution to the Members of such Series (pro rata to their Interests and which, for the avoidance of doubt, may include the Managing Member or its Affiliates).
Appears in 9 contracts
Samples: Limited Liability Company Agreement (Tirios Propco Series LLC), Limited Liability Company Agreement (Tirios Propco Series LLC), Series Limited Liability Company Agreement (Mansion Collection I LLC)
Application of Cash. Subject to Section 7.37.03, ARTICLE Article XI and any Interest Designation, any Free Cash Flows of each Series after (ia) repayment of any amounts outstanding under Operating Expenses Reimbursement Obligations including any accrued interest as there may be and (iib) the creation of such reserves as the Managing Member deems necessary, in its sole discretion, to meet future Operating Expenses, shall be applied and distributed, 100% distributed by way of distribution to the Members of such Series (pro rata to their Interests and which, for the avoidance of doubt, may include the Managing Member or its Affiliates).
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Otis Collection LLC), Limited Liability Company Agreement (Otis Gallery LLC)
Application of Cash. Subject to Section 7.3, ARTICLE XI and any Interest Designation, any Free Cash Flows of each Series after (i) repayment of any amounts outstanding under Operating Expenses Reimbursement Obligations including any accrued interest as there may be and (ii) the creation of such reserves as the Managing Member Manager deems necessary, in its sole discretion, to meet future Operating Expenses, shall be applied and distributed, 100% by way of distribution to the Members of such Series (pro rata to their Interests and which, for the avoidance of doubt, may include the Managing Member or its Affiliates).
Appears in 2 contracts
Samples: Property Management Agreement (Whimsy Properties LLC), Series Limited Liability Company Agreement (Whimsy Properties LLC)
Application of Cash. Subject to Section 7.3, ARTICLE XI and any Interest Designation, any Free Cash Flows of each Series after (i) repayment of any amounts outstanding under Operating Expenses Reimbursement Obligations Obligations, including any accrued interest as there may be be, and (ii) the creation of such reserves as the Managing Member deems necessary, in its sole discretion, to meet future Operating Expenses, shall be applied and distributed, 100% by way of distribution to the Members of such Series (pro rata to their Interests and which, for the avoidance of doubt, may include the Managing Member or its Affiliates).
Appears in 1 contract
Samples: Series Limited Liability Company Agreement (Ysmd, LLC)
