Common use of Remaining Amounts Clause in Contracts

Remaining Amounts. To the extent available, proceeds shall then be distributed to the Members in the following order of priority: (i) First, one hundred percent (100%) to the Preferred Members, pro rata in accordance with, as to each Preferred Member, the amount of such Preferred Member’s aggregate accrued and unpaid Preferred Return, until all accrued Preferred Return has been distributed; (ii) Thereafter, one hundred percent (100%) to the Preferred Members, pro rata in accordance with, as to each Preferred Member, the amount of such Preferred Member’s Unreturned Capital Contributions, until all Unreturned Capital Contributions of the Preferred Members have been distributed to the Preferred Members; and (iii) one hundred percent to the Common Members, pro rata in accordance with their relative Percentage Interests.

Appears in 2 contracts

Sources: Operating Agreement (Norhart Invest LLC), Operating Agreement (Norhart Invest LLC)