Distributions of Net Cash From Operations. Distributions of Net Cash from Operations shall be made for each calendar month of each fiscal year of the Company within thirty (30) days of the end of each such month and shall be paid to the Members in the following manner: a. first, to the Members who have made loans to the Company, until such loans and all accrued interest thereon have been repaid; b. second, to the Members in an amount equal to a cumulative preferential return equal to fifteen percent (15%) per annum, compounded, on the Capital Contributions made by the Member from the date the Capital Contributions were made to the date of payment, ratably in proportion to the Members respective Percentage Interests in the Company, until such preferential return has been fully paid (the "MEMBERS' PREFERRED RETURN"); c. third, ten percent (10%) of the monthly Net Cash from Operations remaining after the distributions set forth in subsections (a), (b) and (c) above shall be placed in a reserve for payment of an annual contribution to the TIC profit-sharing plan, and annual distributions from such reserve to such profit-sharing plan shall require the unanimous consent of the Governors; d. fourth, to the Members in an amount equal to one hundred percent (100%) of their Capital Contributions up to their Committed Capital, ratably in proportion to the Members respective Percentage Interest in the Company, until such Capital Contributions have been fully repaid; and e. fifth, thirty seven percent (37%) of Net Cash From Operations shall be distributed to * and sixty three percent (63%) of Net Cash From Operations shall be distributed to TIC.
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Distributions of Net Cash From Operations. Distributions of Net Cash from Operations shall be made for each calendar month of each fiscal year of the Company within thirty (30) days of the end of each such month and shall be paid to the Members in the following manner:
a. first, to the Members who have made loans to the Company, until such loans and all accrued interest thereon have been repaid;
b. second, to the Members in an amount equal to a cumulative preferential return equal to fifteen percent (15%) per annum, compounded, on the Capital Contributions made by the Member from the date the Capital Contributions were made to the date of payment, ratably in proportion to the Members respective Percentage Interests in the Company, until such preferential return has been fully paid (the "MEMBERS' PREFERRED RETURN");
c. third, to the extent any Members have made any additional Capital Contributions in excess of such Members' Committed Capital, then to such Members, ratably in proportion to such additional Capital Contributions;
d. fourth, ten percent (10%) of the monthly Net Cash from Operations remaining after the distributions set forth in subsections (a), (b) and (c) above shall be placed in a reserve for payment of an annual contribution to the TIC profit-sharing plan, and annual distributions from such reserve to such profit-sharing plan shall require the unanimous consent of the Governors;; and
d. fourthe. fifth, to the Members in an amount equal to one hundred percent (100%) of their Capital Contributions up to their Committed Capital, ratably in proportion to the Members respective Percentage Interest in the Company, until such Capital Contributions have been fully repaid; and
e. fifthf. thereafter, thirty seven percent (37%) of Net Cash From Operations shall be distributed to * and sixty three percent (63%) of Net Cash From Operations shall be distributed to TIC.
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