Common use of Repayment of Member Loans Clause in Contracts

Repayment of Member Loans. Notwithstanding any other term herein to the contrary, for so long as any Member Loan (including interest thereon) remains unpaid by an applicable Non-Contributing Member, all Operating Cash Flow or Extraordinary Cash Flow, as applicable, that would otherwise be distributable to such Non-Contributing Member pursuant to this Article V shall instead be paid directly to the applicable Contributing Member that made such Member Loan. Such distributions shall be applied first to outstanding interest at the Member Loan Rate and then to outstanding principal under the Member Loan. For avoidance of doubt, such distribution shall be deemed for all purposes to be a distribution from the Company to the Non-Contributing Member of the applicable amount and a simultaneous repayment under the Member Loan of such amount from the Non-Contributing Member to the Contributing Member.

Repayment of Member Loans. Notwithstanding any other term herein to the contrary, for so long as any Member Loan (including interest thereon) remains unpaid by an applicable Non-Contributing Member, all Operating Cash Flow or Extraordinary Net Cash Flow, as applicable, that would otherwise be distributable to such Non-Contributing Member pursuant to this Article V shall instead be paid directly to the applicable Contributing Member that made such Member Loan. Such distributions shall be applied first to outstanding interest at the Member Loan Rate and then to outstanding principal under the Member Loan. For avoidance of doubt, such distribution shall be deemed for all purposes to be a distribution from the Company to the Non-Contributing Member of the applicable amount and a simultaneous repayment under the Member Loan of such amount from the Non-Contributing Member to the Contributing Member.