Net Portfolio Receipts Sample Clauses
The Net Portfolio Receipts clause defines how the total income generated from a portfolio of assets, after deducting certain expenses or costs, is calculated and distributed among relevant parties. In practice, this clause specifies which types of receipts are included (such as royalties, licensing fees, or sales proceeds) and outlines allowable deductions like management fees, taxes, or operational costs before determining the net amount. Its core function is to ensure transparency and fairness in the allocation of net income, preventing disputes by clearly establishing what constitutes distributable receipts and how they are shared.
Net Portfolio Receipts. Subject to Sections 5.3, 7.2, 14, 15 and any legal or contractual restrictions on the Company's ability to make distributions to the Members, the Manager shall make distributions by wire transfer of any Net Portfolio Receipts as promptly as it determines to be appropriate (but not less frequently than quarterly) as follows:
7.1.2.1 First, to all of the Members (Class A and Class B) in proportion to their respective Contribution Percentages until (i) the amount that has been distributed pursuant to this Section 7.1.2.1 (including so much of Sections 7.2 and 7.3 as relate to this Section 7.1.
2.1) for all fiscal years and other accounting periods equals (ii) the sum of the Members' Capital Contributions less the sum of the amounts that have been returned to the Members pursuant to Section 5.4;
7.1.2.2 Second, 90% to all of the Members (Class A and Class B) in proportion to their respective Contribution Percentages, and 10% to the Class B Member, until (i) the amount that has been distributed to the Class A Members pursuant to this Section 7.1.2 (including so much of Sections 7.2 and 7.3 as related to this Section 7.1.2) for all fiscal years and other accounting periods equals (ii) (a) 1.8 times (b) the sum of the Class A Members' Capital Contributions less the sum of the amounts that have been returned to the Class A Members pursuant to Section 5.4;
7.1.2.3 Third, 80% to all of the Members (Class A and Class B) in proportion to their respective Contribution Percentages, and 20% to the Class B Member, until (i) the amount that has been distributed to the Class A Members pursuant to this Section 7.1.2 (including so much of Sections 7.2 and 7.3 as relate to this Section 7.1.2) for all fiscal years and other accounting periods equals (ii) (a) 2.3 times (b) the sum of the Class A Members' Capital Contributions less the sum of the amounts that have been returned to the Class A Members pursuant to Section 5.4; and
7.1.2.4 Fourth, thereafter, 70% to all of the Members (Class A and Class B) in proportion to their respective Contribution Percentages, and 30% to the Class B Member.
Net Portfolio Receipts. Subject to Sections 7.2, 7.5, 7.6, 8.1.4, 8.3, 14, 15 and any legal or contractual restrictions on the Company’s ability to make distributions to the Members, the Manager shall make distributions by wire transfer of any Net Portfolio Receipts (and any other available cash, other than amounts contributed by the Members, the Company may have) as promptly as it determines to be appropriate (but not less frequently than quarterly) as follows: 85% to the Class A Member and 15% to the Class B Member.