Common use of Financing Proceeds Clause in Contracts

Financing Proceeds. Financing Proceeds shall be applied and distributed in the following order of priority: (i) First, to the Class B Limited Partners, in proportion to their respective Class B Percentage Interests, until each Class B Limited Partner has been distributed under this Section 5.1(b)(i) and Sections 5.1(a)(i) and 5.1(c)(i), an amount equal to its aggregate Preferred Return; (ii) Second, to the Class B Limited Partners, in proportion to their respective Class B Percentage Interests, until each Class B Limited Partner’s Preferred Capital Balance is reduced to zero; (iii) Third, to the Class A Partners, in proportion to their respective Common Capital balances, until each Class A Partner’s Common Capital Balance is reduced to zero; and (iv) The balance, to the Class A Partners, in proportion to their respective Class A Percentage Interests.