Common use of Cash from Operations Clause in Contracts

Cash from Operations. Except as otherwise provided in Section 13, Cash From Operations with respect to each calendar year shall be distributed as follows: 5.1.1 First, to the Members in proportion to their accrued but undistributed 8% Preferred Return, until the Members have been distributed an amount equal to their accrued but undistributed 8% Preferred Return; 5.1.2 Second, (i) 50% to the Members in proportion to their Percentage Interests and (ii) 50% to Cottonwood Residential, until Cottonwood Residential has received an amount pursuant to clause (ii) equal to 20% of the amount distributed to the Members and Cottonwood Residential pursuant to Sections 5.1.1 and this 5.1.2; and 5.1.3 Thereafter, 80% to the Members in proportion to their Percentage Interests and 20% to Cottonwood Residential.