Waterfall. (a) Net Cash Flow from the Total Project, excluding the Urban Park, shall be distributed monthly, or as shall otherwise be agreed by OSEG and the City as a “Major Decision” under the Master GP Shareholder’s Agreement, in accordance with the following priorities: (i) (A) to each of OSEG and the City, a return from and after the Closing Date on the outstanding amount from time to time of the Equity and the City Funding Equity, respectively, at the rate of eight percent (8%) per annum, on a cumulative, but not compounded basis (minus in the case of OSEG, the Initial Investment Income); or
Appears in 3 contracts
Sources: Master Limited Partnership Agreement, Master Limited Partnership Agreement, Master Limited Partnership Agreement