Common use of First Tier Profits Clause in Contracts

First Tier Profits. First, to the Members in proportion to, and to the extent of, the negative balance, if any, standing in each such Member’s Capital Account at the end of such Fiscal Year (or part thereof); and

Appears in 3 contracts

Samples: Operating Agreement, Operating Agreement (KBS Real Estate Investment Trust, Inc.), Operating Agreement (KBS Real Estate Investment Trust, Inc.)

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First Tier Profits. First, to the Members in proportion to, and to the extent of, the negative balance, if any, standing in each such Member’s Capital Account at the end of such Fiscal Year (or part thereof)Account; and

Appears in 1 contract

Samples: Limited Liability Company Agreement (Tejon Ranch Co)

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