Common use of Distributions of Net Operating Cash Flow Clause in Contracts

Distributions of Net Operating Cash Flow. Net Operating Cash Flow distributed shall be reasonably adjusted within 30 days after the end of the last calendar quarter of each Company Year (and to the extent necessary the Members agree to make appropriate adjustments among themselves) to ensure that the amount distributable to each of the Members for the entire Company Year is equal to the amounts each of the Members would have received under Section 8.1 if the Net Operating Cash Flow was determined for the entire Company Year and was distributed in a single disbursement as of the end of each Company Year (such adjustments, for example, shall take into account any increased yield a Member receives as a result of receiving distributions quarterly instead of annually). Distributions of Net Operating Cash Flow shall be made to the Members within thirty (30) days after the close of each calendar quarter (unless (x) such distribution is not in compliance with law or (y) such distribution would result in a breach of any covenants or undertakings provided by the Company (including covenants or undertakings provided for third party financing) or would, in the opinion of the Members, acting reasonably, be likely to do so during the following twelve (12) months), in the following order of priority: (a) For the first through seventh Company Years: (i) First, to CHT, until CHT has received an 11% Cumulative Return, compounded annually, on CHT’s Total Capital Contribution; (ii) Second, to Sunrise, until Sunrise has received an 11% Cumulative Return, compounded annually, on Sunrise’s Total Capital Contribution; (iii) Thereafter, the balance, if any, to the Members pro-rata in accordance with their respective Percentage Interests. (b) Following the seventh Company Year, to the Members pro-rata in accordance with their respective Percentage Interests.

Distributions of Net Operating Cash Flow. Net Operating Cash Flow distributed shall be reasonably adjusted within 30 days after the end of the last calendar quarter of each Company Year (and to the extent necessary the Members agree to make appropriate adjustments among themselves) to ensure that the amount distributable to each of the Members for the entire Company Year is equal to the amounts each of the Members would have received under Section 8.1 if the Net Operating Cash Flow was determined for the entire Company Year and was distributed in a single disbursement as of the end of each Company Year (such adjustments, for example, shall take into account any increased yield a Member receives as a result of receiving distributions quarterly instead of annually). Distributions of Net Operating Cash Flow shall be made to the Members within thirty (30) days after the close of each calendar quarter (unless (x) such distribution is not in compliance with law or (y) such distribution would result in a breach of any covenants or undertakings provided by the Company (including covenants or undertakings provided for third party financing) or would, in the opinion of the Members, acting reasonably, be likely to do so during the following twelve (12) months), in the following order of priority: (a) For the first through seventh Company Years: (i) First, to CHTCHP, until CHT CHP has received an 11% Cumulative Return, compounded annually, on CHTCHP’s Total Capital Contribution; (iib) Second, to SunriseGCI, until Sunrise GCI has received an 11% Cumulative Return, compounded annually, on SunriseGCI’s Total Capital Contribution;; and (iiic) Thereafter, the balance, if any, 75% to the Members pro-rata in accordance with their respective Percentage InterestsCHP and 25% to GCI. (b) Following the seventh Company Year, to the Members pro-rata in accordance with their respective Percentage Interests.

Distributions of Net Operating Cash Flow. Net Operating Cash Flow distributed shall be reasonably adjusted within 30 days after the end of the last calendar quarter of each Company Year (and to the extent necessary the Members agree to make appropriate adjustments among themselves) to ensure that the amount distributable to each of the Members for the entire Company Year is equal to the amounts each of the Members would have received under Section 8.1 if the Net Operating Cash Flow was determined for the entire Company Year and was distributed in a single disbursement as of the end of each Company Year (such adjustments, for example, shall take into account any increased yield a Member receives as a result of receiving distributions quarterly instead of annually). Distributions of Net Operating Cash Flow shall be made to the Members within thirty (30) days after the close of each calendar quarter (unless (x) such distribution is not in compliance with law or (y) such distribution would result in a breach of any covenants or undertakings provided by the Company (including covenants or undertakings provided for third party financing) or would, in the opinion of the Members, acting reasonably, be likely to do so during the following twelve (12) months), in the following order of priority: (a) For the first through seventh Company Years: (i) First, to CHT, until CHT has received an 11% Cumulative Return, compounded annually, on CHT’s Total Capital Contribution; (iib) Second, to SunriseGCI, until Sunrise GCI has received an 11% Cumulative Return, compounded annually, on SunriseGCI’s Total Capital Contribution;; and (iiic) Thereafter, the balance, if any, 75% to the Members pro-rata in accordance with their respective Percentage InterestsCHT and 25% to GCI. (b) Following the seventh Company Year, to the Members pro-rata in accordance with their respective Percentage Interests.

Distributions of Net Operating Cash Flow. Net Operating Cash Flow distributed shall be reasonably adjusted within 30 days after the end of the last calendar quarter of each Company Year (and to the extent necessary the Members agree to make appropriate adjustments among themselves) to ensure that the amount distributable to each of the Members for the entire Company Year is equal to the amounts each of the Members would have received under Section 8.1 if the Net Operating Cash Flow was determined for the entire Company Year and was distributed in a single disbursement as of the end of each Company Year (such adjustments, for example, shall take into account any increased yield a Member receives as a result of receiving distributions quarterly instead of annually). Distributions of Net Operating Cash Flow shall be made to the Members within thirty (30) days after the close of each calendar quarter (unless (x) such distribution is not in compliance with law or (y) such distribution would result in a breach of any covenants or undertakings provided by the Company (including covenants or undertakings provided for third party financing) or would, in the opinion of the Members, acting reasonably, be likely to do so during the following twelve (12) months), in the following order of priority: (a) For the first through seventh Company YearsYear: (i) First, to CHTCNL, until CHT CNL has received an 1113% Cumulative Return, compounded annually, on CHT’s the CNL Total Capital Contribution; (ii) Second, to Sunrise, until Sunrise has received an 11a 13% Cumulative Return, compounded annually, Return on Sunrise’s the Sunrise Total Capital Contribution; (iii) Thereafter, the balance, if any, to the Members pro-rata in accordance with their respective Percentage Interests. (b) For the second Company Year: (i) First, to CNL, until CNL has received an 12% Cumulative Return, compounded annually, on the CNL Total Capital Contribution; (ii) Second, to Sunrise, until Sunrise has received a 12% Return on the Sunrise Total Capital Contribution; (iii) Thereafter, the balance, if any, to the Members pro-rata in accordance with their respective Percentage Interests. (c) For the third through sixth Company Years: (i) First, to CNL, until CNL has received a 11.5% Cumulative Return, compounded annually, on the CNL Total Capital Contribution; (ii) Second, to Sunrise, until Sunrise has received a 11.5% Return on the Sunrise Total Capital Contribution; (iii) Thereafter, the balance, if any, to the Members pro-rata in accordance with their then current respective Percentage Interests. (d) Following the seventh sixth Company Year, to the Members pro-rata in accordance with their respective Percentage Interests.