Operating Distributions. (a) Cash Available for Distribution at the end of each calendar month shall be allocated ninety-nine percent (99%) to the Members and one percent (1%) to the Managers. (b) Cash Available for Distribution allocated to the Members shall be allocated among the Members in proportion to their Percentage Interests and in proportion to the number of days during the applicable month that they owned such Percentage Interests. Cash Available for Distribution allocated to the Managers shall be allocated among the Managers in such proportion and manner as mutually agreed upon by the Managers from time to time.
Appears in 6 contracts
Sources: Limited Liability Company Operating Agreement (Redwood Mortgage Investors IX), Limited Liability Company Operating Agreement (Redwood Mortgage Investors IX), Limited Liability Company Operating Agreement (Redwood Mortgage Investors IX)
Operating Distributions. (a) Cash Available for Distribution at the end of each calendar month shall be allocated distributed ninety-nine percent (99%) to the Members and one percent (1%) to the Managers.
(b) Cash Available for Distribution allocated that is distributable to the Members shall be allocated among the Members in proportion to their Percentage Interests (except as provided in Section 5.5(c) below) and in proportion to the number of days during the applicable month that they owned such Percentage Interests. Cash Available for Distribution allocated that is distributable to the Managers shall be allocated among the Managers in such proportion and manner as mutually agreed upon by the Managers from time to time.
Appears in 3 contracts
Sources: Limited Liability Company Operating Agreement (Redwood Mortgage Investors IX), Limited Liability Company Operating Agreement (Redwood Mortgage Investors IX), Limited Liability Company Operating Agreement (Redwood Mortgage Investors IX)