Distributions of Distributable Cash. Each distribution of Distributable Cash shall be made to the Members as follows: (A) first, sixty percent (60%) to the Initial Member and forty percent (40%) to the Private Owner, until the time at which the Incentive Threshold Event occurs; and (B) thereafter, seventy percent (70%) to the Initial Member and thirty percent (30%) to the Private Owner. For the avoidance of doubt, distributions to the Members occurring on the Distribution Date on which the Incentive Threshold Event occurs shall, (x) with respect to all distributions up to the amount required for reaching such Incentive Threshold Event, be allocated without regard to the occurrence of such Incentive Threshold Event, and (y) with respect to all remaining distributions on such Distribution Date, be allocated taking into account the occurrence of such Incentive Threshold Event.
Appears in 3 contracts
Samples: Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement
Distributions of Distributable Cash. Each distribution of Distributable Cash shall be made to the Members as follows:
(A) first, sixty percent (60%) 80% to the Initial Member and forty percent (40%) 20% to the Private Owner, until the time at which the Incentive Threshold Event occurs; and
(B) thereafter, seventy percent (70%) 60% to the Initial Member and thirty percent (30%) 40% to the Private Owner. For the avoidance of doubt, distributions to the Members occurring on the Distribution Date on which the Incentive Threshold Event occurs shall, (x) with respect to all distributions up to the amount required for reaching such Incentive Threshold Event, be allocated without regard to the occurrence of such Incentive Threshold Event, and (y) with respect to all remaining distributions on such Distribution Date, be allocated taking into account the occurrence of such Incentive Threshold Event.
Appears in 2 contracts
Samples: Limited Liability Company Operating Agreement, Private Owner Interest Sale and Assignment Agreement
Distributions of Distributable Cash. Each distribution of Distributable Cash shall be made to the Members as follows:
(A) first, sixty percent (60%) to the Initial Member and forty percent (40%) to the Private Owner, until the time at which the Incentive Threshold Event occurs; and
(B) thereafter, seventy sixty-five percent (7065%) to the Initial Member and thirty thirty-five percent (3035%) to the Private Owner. For the avoidance of doubt, distributions to the Members occurring on the Distribution Date on which the Incentive Threshold Event occurs shall, (x) with respect to all distributions up to the amount required for reaching such the Incentive Threshold Event, be allocated without regard to the occurrence of such the Incentive Threshold Event, and (y) with respect to all remaining distributions on such Distribution Date, be allocated taking into account the occurrence of such the Incentive Threshold Event.
Appears in 2 contracts
Samples: Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement