Cash from Operations. Except as otherwise provided in Section 13, and subject to the Manager’s discretion pursuant to Section 5.2 and Section 5.3, Cash From Operations with respect to each calendar year shall be distributed as follows: 5.1.1 First, 100% to the Members in proportion to their accrued but undistributed Preferred Return until the Members have been distributed an amount equal to their accrued but undistributed Preferred Return; 5.1.2 Thereafter, 25% to the Members in proportion to their Units and 75% to the Members.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Vivakor, Inc.), Limited Liability Company Agreement (Vivakor, Inc.)
Cash from Operations. Except as otherwise provided in Section 13, 13 and subject to the Manager’s discretion pursuant to Section 5.2 and Section 5.35.2, Cash From Operations with respect to each calendar year shall be distributed as follows:
5.1.1 First, 100% to the Members Members, in proportion to their accrued but undistributed Preferred Return Return, until the Members have been distributed an amount equal to their accrued but undistributed Preferred Return;
5.1.2 Thereafter, 25% . Members may elect to have Cash From Operations: (1) distributed quarterly; (2) reinvested in the Members in proportion to their Units and 75% to the Members.Fund; or
Appears in 1 contract
Samples: Operating Agreement
Cash from Operations. Except as otherwise provided in Section 13, and subject to the Manager’s discretion pursuant to Section 5.2 and Section 5.3, Cash From Operations with respect to each calendar year shall be distributed as follows:
5.1.1 First, 100% to the Members in proportion to their accrued but undistributed 8% Preferred Return Return, until the Members have been distributed an amount equal to their accrued but undistributed 8% Preferred Return;
5.1.2 Thereafter, 25% to the Members in proportion to their Units and 75% to the Members.; 5
Appears in 1 contract
Samples: Limited Liability Company Agreement (Cottonwood Multifamily Reit Ii, Inc.)
