Common use of Distributions of Distributable Cash Clause in Contracts

Distributions of Distributable Cash. Each distribution of Distributable Cash shall be made to the Members as follows: (A) first, sixty percent to the Initial Member and forty percent to the Private Owner, until the time at which the First Incentive Threshold Event occurs; and (B) thereafter, sixty-five percent to the Initial Member and thirty-five percent to the Private Owner, until the time at which the Second Incentive Threshold Event occurs; and (C) thereafter, seventy percent to the Initial Member and thirty percent to the Private Owner. For the avoidance of doubt, distributions to the Members occurring on the Distribution Date on which any of the First Incentive Threshold Event or the Second Incentive Threshold Event occurs shall, (x) with respect to all distributions up to the amount required for reaching such First Incentive Threshold Event or Second Incentive Threshold Event, as applicable, be allocated without regard to the occurrence of such First Incentive Threshold Event or Second Incentive Threshold Event, as applicable, and (y) with respect to all remaining distributions on such Distribution Date, be allocated taking into account the occurrence of such First Incentive Threshold Event or Second Incentive Threshold Event, as applicable.