Common use of Priorities for Distribution of Aggregate Gross Revenues Clause in Contracts

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 TRS in an amount equal to the Aggregate TRS Priority Return and any interest that may have accrued pursuant to Section 3.02. (4) Fourth, to Manager to reimburse it for payment of any Manager Shortfall Advance, plus applicable interest calculated at the Interest Rate. (5) Fifth, to Manager, in an amount equal to the Aggregate Incentive Fee. (6) Sixth, to TRS, in an amount equal to the Aggregate TRS Residual Payment.

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 Community 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 TRS Owners in an amount equal to the Aggregate TRS Owner Priority Return and any interest that may have accrued pursuant to Section 3.02. (4) Fourth, to Manager to reimburse it for payment of any Manager Shortfall Advance, plus applicable interest calculated at the Interest Rate. (5) Fifth, to Manager, in an amount equal to the Aggregate Incentive Fee. (6) Sixth, to TRSOwners, in an amount equal to the Aggregate TRS Owner Residual Payment.