Common use of Third Level Clause in Contracts

Third Level. The balance of the Disposition Proceeds remaining after the distributions under the First and Second Levels above shall be distributed to the Members in accordance with their respective Percentage Interests. The cash portion of the Members' share of Disposition Proceeds, together with all installments and payments of cash of or against any deferred portion of such Disposition Proceeds, shall be distributed in accordance with the levels provided above, with each person or entity entitled to payment under a level receiving the entire amount of such cash until the sum payable under such level shall have been discharged in cash. All Disposition Proceeds distributable to Carlyle 14 and Carlyle 15 pursuant to this SECTION 2.06(c) shall be distributed in the ratio of their Percentage Interests.