Distributions of Distributable Funds. Subject to the provisions of Sections 6.1and 6.2, on the fifteenth (15th) day of each month (or the next Business Day if such fifteenth (15th) day is not a Business Day), the Manager shall distribute all Distributable Funds with respect to such month to the Members as follows: (a) First, to the Members, pari passu, until each Member has received a return on its Unreturned Capital Contributions calculated at the Hurdle Return Rate; (b) Second, to the Members, pari passu, until each Member has received its Unreturned Capital Contributions; and (c) Third, (i) 88% to Bluerock and (ii) 12% to ArchCo.
Appears in 2 contracts
Samples: Limited Liability Company Agreement, Limited Liability Company Agreement (Bluerock Residential Growth REIT, Inc.)
Distributions of Distributable Funds. Subject to the provisions of Sections 6.1and 6.1 and 6.2, on the fifteenth (15th) day of each month (or the next Business Day if such fifteenth (15th) day is not a Business Day), the Manager shall distribute all Distributable Funds with respect to such month to the Members as follows:
(a) First, to the Members, pari passuin proportion to their Unreturned Capital Contributions, until each Member has received a return on its Unreturned Capital Contributions calculated at the Hurdle Return Rate;
(b) Second, to the Members, pari passu, until each Member has received its Unreturned Capital Contributions; and
(c) Third, (i) 88% to Bluerock and (ii) 12% to ArchCo.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Bluerock Residential Growth REIT, Inc.)
Distributions of Distributable Funds. Subject to the provisions of Sections 6.1and 6.1 and 6.2, on the fifteenth (15th) day of each month (or the next Business Day if such fifteenth (15th) day is not a Business Day), the Manager shall distribute all Distributable Funds with respect to such month to the Members as follows:
(a) First, to the Members, pari passu, until each Member has received a return on its Unreturned Capital Contributions calculated at the Hurdle Return Rate;
(b) Second, to the Members, pari passu, until each Member has received its Unreturned Capital Contributions; and
(c) Third, (i) 88% to Bluerock and (ii) 12% to ArchCo.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Bluerock Residential Growth REIT, Inc.)
