Distributions of Net Cash Receipts. Except as otherwise provided in ¶ 10.3, Net Cash Receipts, if any, shall be distributed to the Members in accordance with their respective Sharing Ratios at the discretion of the Members.
Distributions of Net Cash Receipts. Except as otherwise provided in Paragraph 10.03, Net Cash Receipts, if any, shall be distributed within thirty (30) days after the end of each fiscal year, in the following order and priority:
(a) First, to the Members, an amount equal to the accrued but unpaid Preferred Distribution; and
(b) The balance, if any, to the Members in accordance with the Sharing Ratio.
Distributions of Net Cash Receipts. Subject to the provisions of Section 10.2 hereof (governing the application of Dissolution Proceeds), the Company's Net Cash Receipts shall be distributed to the Members in proportion to their respective Distribution Percentages at such times as the Board shall determine in its sole and absolute discretion on the following basis:
(a) first, used to repay the principal and interest on the Member Loans on a dollar for dollar basis until the GBC Member Loan is repaid in full;
(b) then, to the Member holding Class A Membership Units and to repay the principal and interest on the NN Member Loan on a dollar for dollar basis; and
(c) when both of the Member Loans have been repaid in full, Net Cash Receipts shall be distributed to the holders of the Class A Membership Units and Class B Membership Units according to their respective Distribution Percentages.
Distributions of Net Cash Receipts. Subject to the rights of creditors, Net Cash Receipts will be distributed at such time and in such amounts as the Partners may unanimously agree subject to the conditions that: (i) all distributions shall be made in accordance with the Partners' respective Percentage Interests; and (ii) unless otherwise agreed by persons holding Percentage Interests aggregating more than 75%, all of the Net Cash Receipts for a Partnership fiscal year shall be distributed not later than reasonably soon after the end of such fiscal year.
Distributions of Net Cash Receipts. Except as otherwise provided with respect to Tax Distributions or Final Distributions, all of the Company’s liquid funds in excess of the amount set aside for reserves (“Net Cash Receipts”), if any, shall be distributed at the discretion of the Manager to the Members in accordance with their respective Sharing Ratios.
Distributions of Net Cash Receipts. Subject to the provisions of section 9.2 [governing the application of Dissolution Proceeds (defined hereafter)] and Section 8.4 [relating to tax distributions] the Company's Net Cash Receipts (defined hereafter) shall be distributed at such times as the Managing Member shall determine in its reasonable discretion to the Members in proportion to their respective Membership Interests. "Net Cash Receipts" shall mean, for the applicable period, the gross receipts of the Company during such period plus any reductions in funded reserves arising out of the reversal of such reserves, less the following: (1) cash operating expenses paid during such period; (2) interest and principal paid during such period on indebtedness of the Company, including all interest and principal on any and all Cost Overrun Loans (it being agreed and understood by the Members that all outstanding principal and interest on any and all outstanding Cost Overrun Loans shall be paid, in full, before any distributions will be made to the Members pursuant to this Section 8.3); (3) expenditures for capital improvements and other capital items paid during such periods; and (4) additions to funded reserves made during such period. For purposes of the foregoing, (a) gross receipts of the Company shall not include Dissolution Proceeds (defined hereafter), or any amount entering into the calculation thereof, and shall not include capital contributions or loans by the Members, including Cost Overrun Loans; (b) additions to funded reserves and reserves for anticipated or contingent liabilities and working capital shall be established for the Company in such amounts as are reasonably determined by the affirmative vote of a Supermajority Vote of the Members; and (c) no deductions from gross receipts of the Company shall be made for amounts paid out of funded reserves.
Distributions of Net Cash Receipts. Except as otherwise provided in Section 10.03, available Net Cash Receipts, if any, as determined by the Manager may be distributed by the Manager in a non-liquidating distribution in the discretion of the Manager (subject, however, to priority tax distributions described in section 4.03), and any distributions shall be from this source first, unless otherwise specified by the Manager.
Distributions of Net Cash Receipts. Net Cash Receipts for each fiscal year (or fractional portion thereof), if any, shall be distributed among the Members within twenty (20) days after the close of each calendar quarter, or more frequently in the Manager's sole discretion, in the following order of priority:
(a) First, as interest to Members having outstanding Member Loans, in proportion to the amount of interest owed to each Member, until the Members shall have received amounts equal to the total amounts of accrued and unpaid interest owed on such Member Loans;
(b) Second, as principal to Members having outstanding Member Loans, in proportion to the amount of principal owed to each Member, until the Members shall have received amounts equal to the total principal balances owed on such Member Loans; and
(c) Thereafter, the balance thereof to the Members in proportion to their respective Percentage Interests.
Distributions of Net Cash Receipts. Net Cash Receipts for each fiscal year (or fractional portion thereof), if any, which the Managing Member determines in its sole discretion to distribute, shall be distributed semi-annually within [seventy-five (75)] days after the close of each semi-annual calendar period, or more frequently in the Managing Member’s sole discretion. Subject to Sections 4.8 and 4.10, all such distributions shall be made among Holders in the following order of priority:
(a) First, 100% to the Investor Holders in proportion to, and to the extent of, the Unpaid Cumulative Preferred Returns of the Investor Holders, until the Unpaid Cumulative Preferred Return of each Investor Holder has been reduced to zero;
(b) Second, 100% to the payment to Holders having outstanding Member Loans, in proportion to the amount of accrued and unpaid interest and principal thereon owed to each Holder, until the Holders shall have received amounts equal to the total amounts of accrued and unpaid interest and principal owed on such Member Loans;
(c) Third, 100% to the Managing Member until the Managing Member shall have received cumulative distributions pursuant to this Section 4.4(c) and/or Section 4.5(c) equal to the Development Carry Amount;1 and
(d) Thereafter, the balance thereof in the ratio of 30% to the Managing Member and 70% to the Investor Holders.
Distributions of Net Cash Receipts. Within 90 days after the end of each fiscal year of the Company, Net Cash Receipts, if any, shall be distributed among the Members in accordance with their respective Interests in the Company.
