Distribution Calculations. In applying the terms of Section 8.1 and Section 8.2, (a) references to relative Percentage Interests or relative Capital Contributions will be those in effect at the time of the distribution, (b) until a particular priority has been satisfied in full, no amounts will be distributable under any junior priority, and (c) all amounts distributable under a particular priority will be prorated among the Members in the manner specified within that priority, and the method of proration applied to each dollar distributable in that priority will be the same until that priority is satisfied in full.
Appears in 4 contracts
Samples: Limited Liability Company Agreement (CNL Healthcare Properties, Inc.), Limited Liability Company Agreement (CNL Healthcare Properties, Inc.), Limited Liability Company Agreement (CNL Healthcare Properties, Inc.)
Distribution Calculations. In applying the terms of Section Sections 8.1 and Section 8.2, (a) references to relative Percentage Interests or relative Capital Contributions will be those in effect at the time of the distribution, (b) until a particular priority has been satisfied in full, no amounts will be distributable under any junior priority, and (c) all amounts distributable under a particular priority will be prorated among the Members in the manner specified within that priority, and the method of proration applied to each dollar distributable in that priority will be the same until that priority is satisfied in full.
Appears in 1 contract
Samples: Limited Liability Company Agreement (CNL Lifestyle Properties Inc)
