Common use of First Level Clause in Contracts

First Level. In the event distribution of Net Receipts previously made to the Members pursuant to SECTION 2.06(b)(i) hereof, plus the amount of the prior distributions of Disposition Proceeds pursuant to this First Level, shall be less than the Supplemental Contribution Preferred Return as of the date the current distribution of such Disposition Proceeds shall be made, then there shall first be distributed to Mxxxxxx Partners, on the one hand, and Carlyle, on the other hand, on an equal (50/50) basis, out of such Disposition Proceeds an amount equal to such deficiency.