Common use of Distribution of Fees Clause in Contracts

Distribution of Fees. a. Manager will distribute, annually, the Net Revenues for the preceding year in the following order of priority: i. to pay the Interest Amount, plus any other accrued and unpaid interest on the Note; and ii. to pay the Owner's Return, including any cumulative amount of the Owner's Return not paid in prior years. b. Thereafter, Manager will distribute, annually, the Net Revenue less the amounts set forth in Section 3.1.a., payable in the year in the following order of priority: