Common use of Distribution of Net Agreement Result Clause in Contracts

Distribution of Net Agreement Result. (a) The Members shall receive hire for their respective Member Vessels (based upon the Revenue Sharing Key for each of their respective Member Vessels) by monthly or semi-monthly installments in arrears. Such hire shall be based upon the Agreement Revenue and Agreement Expenses for the previous month according to the most recent monthly statement prepared in accordance with clause 6.3(b) and shall be further adjusted for each Member Vessel in accordance with the provisions of the relevant Charterparty. The Manager shall determine the amount of the Net Agreement Result to be paid out by way of hire each month having regard to cash available and to the amounts required to be retained according to the most recent cash flow projection prepared in accordance with clause 6.3(b ).

Distribution of Net Agreement Result. (a) The Members shall receive hire for their respective Member Vessels (based upon the Revenue Sharing Key for each of their respective Member Vessels) by monthly or semi-monthly installments in arrears. Such hire shall be based upon the Agreement Revenue and Agreement Expenses for the previous month according to the most recent monthly statement prepared in accordance with clause 6.3(b) and shall be further adjusted for each Member Vessel in accordance with the provisions of the relevant Charterparty. , The Manager shall determine the amount of the Net Agreement Result to be paid out by way of hire each month having regard to cash available and to the amounts required to be retained according to the most recent cash flow projection prepared in accordance with clause 6.3(b ).