Distributions of Net Income. (a) Subject to Section 6.1(b) below, the Company shall distribute Net Income received with respect to the assets to the relevant Class A Members, subject to any Reserves or Company expenses as reasonably determined by the Managing Member. The Company shall make all such distributions of Net Income to the Class A Members and Class B Members in the following order of priority, and among them in accordance with their respective Class Percentages:
Appears in 4 contracts
Samples: Limited Liability Company Operating Agreement (Secured Real Estate Income Strategies, LLC), Limited Liability Company Operating Agreement (Secured Real Estate Income Fund II, LLC), Limited Liability Company Operating Agreement (Secured Real Estate Income Fund II, LLC)
Distributions of Net Income. (a) Subject to Section 6.1(b) below, the Company shall distribute Net Income received with respect to the assets to the relevant Class A Members, subject to any Reserves or Company expenses as reasonably determined by the Managing Member. The Company shall make all such distributions of Net Income to the Class A Members and Class B Members in the following order of priority, and among them in accordance with their respective Class Percentages:
Appears in 1 contract
Samples: Limited Liability Company Operating Agreement (Secured Real Estate Fund II, LLC)
