Distribution of Distributable Cash. In the discretion of the Members, Distributable Cash may be distributed to the Members in proportion to the respective amounts of net income previously allocated to each pursuant to the provisions of Section 5.1 but not yet distributed to such Member, starting with the earliest year for which there is undistributed net income.
Appears in 42 contracts
Samples: Company Operating Agreement (Town Sports International Inc), Company Operating Agreement (Town Sports International Inc), Limited Liability Company Operating Agreement (Town Sports International Inc)