Common use of Distribution of Net Operating Income Clause in Contracts

Distribution of Net Operating Income. Except as otherwise provided, Net Operating Income for each fiscal year shall be distributed within seventy-five (75) days following each calendar year and shall be applied in the following order of priority: (a) to pay the Deferred Management Fee, if any; (b) to pay the current Asset Management Fee and then to pay any accrued Asset Management Fees which have not been paid in full from previous years; (c) to pay the Development Fee; (d) to pay the Operating Loans, if any, as referenced in Section 6.3 of this Agreement, limited to 50% of the Net Operating Income remaining after reduction for the payments made pursuant to subsections (a) through (c) of this Section 11.1;

Distribution of Net Operating Income. Except as otherwise provided, Net Operating Income for each fiscal year shall be distributed within seventy-five (75) days following each calendar year and shall be applied in the following order of priority: (a) to pay the Deferred Management Fee, if any; (b) to pay the current Asset Management Reporting Fee and then to pay any accrued Asset Management Reporting Fees which have not been paid in full from previous years; (cb) to pay the Development Fee; ; (dc) to pay the Operating Loans, if any, as referenced in Section 6.3 of this Agreement, limited to 50% of the Net Operating Income remaining after reduction for the payments made pursuant to subsections (a) through (c) of this Section 11.1; (d) to pay the Incentive Management Fee; (e) to pay the Tax Credit Compliance Fee; and (f) the balance, 30% to the Investor Member and 70% to the Managing Member.

Distribution of Net Operating Income. Except as otherwise provided, Net Operating Income for each fiscal year shall be distributed within seventy-five (75) days following each calendar year and shall be applied in the following order of priority: (a) to pay the Deferred Management Fee, if any; (b) to pay the current Asset Management Reporting Fee and then to pay any accrued Asset Management Reporting Fees which have not been paid in full from previous years; (cb) to pay the Development Fee; ; (dc) to pay the Operating Loans, if any, as referenced in Section 6.3 6.2(b) of this Agreement, limited to 50% of from the Net Operating Income remaining after reduction for the payments made pursuant to subsections (a) through and (cb) of this Section 11.1; (d) to pay the Incentive Management Fee;

Distribution of Net Operating Income. Except as otherwise provided, Net Operating Income for each fiscal year shall be distributed within seventy-five (75) days following each calendar year and shall be applied in the following order of priority: (a) to pay the Deferred Management Fee, if any; (b) to pay the current Asset Management Reporting Fee and then to pay any accrued Asset Management Reporting Fees which have not been paid in full from previous years; (cb) to pay the Development Fee; ; (dc) to pay the Operating Loans, if any, as referenced in Section 6.3 of this Agreement, limited to 50% of the Net Operating Income remaining after reduction for the payments made pursuant to subsections (a) through (c) of this Section 11.1;