Priorities for Distribution of Aggregate Gross Revenues. Aggregate Gross Revenues shall be distributed in the following order of priority: (1) First, to pay Aggregate Facility Expenses (which shall not include the Aggregate Base Fee). (2) Second, to Manager, to pay the Aggregate Base Fee and any interest that may have accrued pursuant to Section 3.02. (3) Third, to TRSes, in an amount equal to the Aggregate TRS Priority Return. (4) Fourth, to Manager, to reimburse it for payment of any Manager Shortfall Advance, plus applicable interest calculated at the Interest Rate, subject to Section 5.01. (5) Fifth, of the balance, twenty percent (20%) to Manager and eighty percent (80%) to TRSes.
Appears in 9 contracts
Samples: Pooling Agreement (Five Star Senior Living Inc.), Pooling Agreement (Senior Housing Properties Trust), Pooling Agreement (Senior Housing Properties Trust)
Priorities for Distribution of Aggregate Gross Revenues. Aggregate Gross Revenues shall be distributed in the following order of priority:
(1) First, to pay Aggregate Facility Expenses (which shall not include the Aggregate Base Fee).
(2) Second, to Manager, to pay the Aggregate Base Fee and any interest that may have accrued pursuant to Section 3.02.
(3) Third, to TRSes, in an amount equal to the Aggregate TRS Priority Return.
(4) Fourth, to Manager, to reimburse it for payment of any Manager Shortfall Advance, plus applicable interest calculated at the Interest Rate, subject to Section 5.01.
(5) Fifth, of the balance, twenty thirty-five percent (2035%) to Manager and eighty sixty-five percent (8065%) to TRSes.
Appears in 7 contracts
Samples: Pooling Agreement (Senior Housing Properties Trust), Pooling Agreement (Senior Housing Properties Trust), Pooling Agreement (Five Star Quality Care Inc)
Priorities for Distribution of Aggregate Gross Revenues. Aggregate Gross Revenues shall be distributed in the following order of priority:
(1) First, to pay Aggregate Facility Expenses (which shall not include the Aggregate Base Fee).
(2) Second, to Manager, to pay the Aggregate Base Fee and any interest that may have accrued pursuant to Section 3.02.
(3) Third, to TRSes, in an amount equal to the Aggregate TRS Priority Return.
(4) Fourth, to Manager, to reimburse it for payment of any Manager Shortfall Advance, plus applicable interest calculated at the Interest Rate, subject to Section 5.01.
(5) Fifth, of the balance, eighty percent (80%) to Manager and twenty percent (20%) to Manager and eighty percent (80%) to TRSes.
Appears in 3 contracts
Samples: Pooling Agreement (Senior Housing Properties Trust), Pooling Agreement (Five Star Senior Living Inc.), Transaction Agreement (Five Star Senior Living Inc.)
