Common use of Distributions after Return of Initial Capital Contributions Clause in Contracts

Distributions after Return of Initial Capital Contributions. Upon a sale or pay off a loan, cash distributions will be made as follows and in the following order to the extent there is available cash to distribute and so long as the Manager elects to NOT reinvest proceeds: · In order to settle expenses and debts of the Company and, if deemed necessary by the Manager, in Manager’s sole and absolute discretion, to establish a reserve to fund post-closing contingencies and/or liabilities; · To the Class A Members, in an amount equal to 100% of that portion of each Preferred Member's capital account allocated to the property involved in the sale, based upon the original principal balance of the loan (“Loan Cost Basis”) or Property (“Property Basis”); · To the Class A Members, in accordance with their Percentage Interests, Class A Members have received total distributions resulting in eight percent (8.0%) per annum return on their aggregate Capital Contributions; · To the Class A Members, in an amount equal to thirty (30%) of the cash available. · To the Class B Members, in an amount equal to seventy (70%) of the cash available.

Appears in 3 contracts

Samples: Company Agreement (Paradyme Equities, LLC), Company Agreement (Paradyme Equities, LLC), Company Agreement (Paradyme Equities, LLC)

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Distributions after Return of Initial Capital Contributions. Upon a sale or pay off a loan, cash distributions will be made as follows and in the following order to the extent there is available cash to distribute and so long as the Manager elects to NOT reinvest proceeds: · In order to settle expenses and debts of the Company and, if deemed necessary by the Manager, in Manager’s sole and absolute discretion, to establish a reserve to fund post-closing contingencies and/or liabilities; · To the Class A Members, in an amount equal to 100% of that portion of each Preferred Member's ’s capital account allocated to the property involved in the sale, based upon the original principal balance of the loan (“Loan Cost Basis”) or Property (“Property Basis”); · To the Class A Members, in accordance with their Percentage Interests, Class A Members have received total distributions resulting in eight and a half percent (8.08.5%) per annum return on their aggregate Capital Contributions; · To the Class A Members, in an amount equal to thirty twenty-five (3025%) from the disposition of the cash availableloan. · To the Class B Members, in an amount equal to seventy seventy-five (7075%) from the disposition of the cash availableloan.

Appears in 2 contracts

Samples: Company Agreement (Paradyme Equities, LLC), Company Agreement (Paradyme Equities, LLC)

Distributions after Return of Initial Capital Contributions. Upon a sale or pay off a loan, cash distributions will be made as follows and in the following order to the extent there is available cash to distribute and so long as the Manager elects to NOT reinvest proceeds: · In order to settle expenses and debts of the Company and, if deemed necessary by the Manager, in Manager’s sole and absolute discretion, to establish a reserve to fund post-closing contingencies and/or liabilities; · To the Class A Members, in an amount equal to 100% of that portion of each Preferred Member's capital account allocated to the property involved in the sale, based upon the original principal balance of the loan (“Loan Cost Basis”) or Property (“Property Basis”); · To the Class A Members, in accordance with their Percentage Interests, Class A Members have received total distributions resulting in eight percent (8.08%) per annum return on their aggregate Capital Contributions; · To the Class A Members, in an amount equal to thirty (30%) of the cash available. · To the Class B Members, in an amount equal to seventy (70%) all remaining proceeds from the disposition of the cash availableloan.

Appears in 1 contract

Samples: Company Agreement (111 Crowdfunding LLC)

Distributions after Return of Initial Capital Contributions. Upon a sale or pay off a loan, cash distributions will be made as follows and in the following order to the extent there is available cash to distribute and so long as the Manager elects to NOT reinvest proceeds: · In order to settle expenses and debts of the Company and, if deemed necessary by the Manager, in Manager’s sole and absolute discretion, to establish a reserve to fund post-closing contingencies and/or liabilities; · To the Class A Members, in an amount equal to 100% of that portion of each Preferred Member's capital account allocated to the property involved in the sale, based upon the original principal balance of the loan (“Loan Cost Basis”) or Property (“Property Basis”); · To the Class A Members, in accordance with their Percentage Interests, Class A Members have received total distributions resulting in eight five percent (8.05.0%) per annum return on their aggregate Capital Contributions; Contributions; To the Class A Members, in an amount equal to fifty · To the Class A Members, in an amount equal to thirty fifty (3050%) of the cash available. · To the Class B Members, in an amount equal to seventy fifty (7050%) of the cash available.

Appears in 1 contract

Samples: Company Agreement (Paradyme Equities, LLC)

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Distributions after Return of Initial Capital Contributions. Upon a sale or pay off a loan, cash distributions will be made as follows and in the following order to the extent there is available cash to distribute and so long as the Manager elects to NOT reinvest proceeds: Paradyme Equities, LLC Company Agreement · In order to settle expenses and debts of the Company and, if deemed necessary by the Manager, in Manager’s sole and absolute discretion, to establish a reserve to fund post-closing contingencies and/or liabilities; · To the Class A Members, in an amount equal to 100% of that portion of each Preferred Member's ’s capital account allocated to the property involved in the sale, based upon the original principal balance of the loan (“Loan Cost Basis”) or Property (“Property Basis”); · To the Class A Members, in accordance with their Percentage Interests, Class A Members have received total distributions resulting in eight percent (8.0%) per annum return on their aggregate Capital Contributions; · To the Class A Members, in an amount equal to thirty (30%) of the cash available. · To the Class B Members, in an amount equal to seventy (70%) of the cash available.

Appears in 1 contract

Samples: Company Agreement (Paradyme Equities, LLC)

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