Common use of Cash Participation Rights Clause in Contracts

Cash Participation Rights. Subject to the conditions described herein, commencing in calendar year 2021, holders of INX Tokens (other than the Company or its subsidiaries) shall be entitled to receive a Pro Rata Portion (as defined below) of an aggregate amount which equals 40% of the Company’s cumulative Adjusted Operating Cash Flow, net of cash flows which have already formed a basis for a prior distribution (such amount, the “Distributable Amount”).

Cash Participation Rights. Subject to the conditions described herein, commencing in calendar year 2021, holders of each INX Tokens (Token held by parties other than the Company (or its subsidiariesanother company forming part of the INX group) shall be entitled entitle its holder to receive a Pro Rata Portion (as defined below) pro rata portion of an aggregate amount which equals 4020% of the Company’s cumulative annual Adjusted Operating Cash FlowFlow for the calendar year prior to the year the distribution is made, net of cash flows which have already formed a basis for a prior distribution (such amount, the “Distributable Amount”)as defined below.