Common use of First Tier Clause in Contracts

First Tier. To the Members pro rata in proportion to each Member’s Percentage Interest until Investor has received distributions from Tranche II to generate an Investor IRR of [**]% with respect to the Tranche II Capital Contributions.

Appears in 1 contract

Sources: Limited Liability Company Agreement (Taylor Morrison Home Corp)

First Tier. To the Members pro rata in proportion to each Member’s Percentage Interest until Investor has received distributions from Tranche II I to generate an Investor IRR of [**]% with respect to the Tranche II I Capital Contributions.

Appears in 1 contract

Sources: Limited Liability Company Agreement (Taylor Morrison Home Corp)