Operating Distributions After Certain Events Sample Clauses

Operating Distributions After Certain Events. Notwithstanding Section 6.4(a) or anything to the contrary contained herein, (x) from and after the Exit Date (if the Redemption Amount shall not have been paid in full to Preferred Member on or prior to such applicable date or if a Qualified Public Offering has not occurred on or prior to such applicable date), (y) from and after the occurrence of a Trigger Event or (z) during the continuance of a Delaware Law Payment Grace Period, all Net Cash Flow and Broad Street Gross Receipts shall be distributed to the Members as follows on each Distribution Date: (i) First, to pay Preferred Member Expenses; (ii) Second, to pay all accrued and unpaid Preferred Return at the Priority Return Rate; (iii) Third, to Preferred Member until it receives payment in full of the Redemption Amount; and (iv) Fourth, thereafter, the balance to Common Member.