Common use of Subsequent Operations Clause in Contracts

Subsequent Operations. All Net Cash Flow, Net Proceeds and Federal Income Tax Items derived by and attributable to each Subsequent Operation shall be shared by or charged: (a) 99% to the Participating Venturers, other than the Managing Venturer, except to the extent the Managing Venturer holds Units in such Subsequent Operation; and (b) 1% to the Managing Venturer. Each Participating Venturer, other than the Managing Venturer, except to the extent the Managing Venturer holds Units in such Subsequent Operation, shall share Net Cash Flow, Net Proceeds and Federal Income Tax Items derived from and attributable to such Subsequent Operation in the Proportion that such Participating Venturer’s Additional Assessment Contributions bear to the Additional Assessment Contributions of all such Participating Venturers and in accordance with Article II of this Agreement.