Common use of First Level Clause in Contracts

First Level. The first available Net Receipts shall be distributed equally (50/50) to Mxxxxxx Partners and to Carlyle until each of them has received a cumulative amount of Net Receipts under this SECTION 2.06(b)(i) and Disposition Proceeds under SECTION 2.06(c)(i) to provide each Member with a 25% internal rate of return, calculated on an annual basis, on the Supplemental Contribution made by such Member from the date of the making of the Supplemental Contribution through the date such return is calculated with the first distributions being treated as return on capital. The foregoing amount is referred to herein as the "SUPPLEMENTAL CONTRIBUTION PREFERRED RETURN". For purposes hereof, the internal rate of return on the Supplemental Contributions shall be calculated by the Company's accountants, which calculations shall be final and conclusive, if made in good faith and without manifest arithmetic error.