Fourth Level. Within said five (5) work days, either party may request arbitration. The parties shall, within ten (10) days after the request to arbitrate, attempt to agree upon the selection of an arbitrator. If no agreement on an arbitrator is reached, either party may request the Minnesota Bureau of Mediation Services (BMS) to submit a list of five arbitrators, providing such request is made within fifteen (15) work days after request for arbitration. The parties shall alternately strike names from the list of five until only one name remains which shall be the agreed upon arbitrator. Failure to request a list of arbitrators from the BMS within the time periods provided herein shall constitute a waiver of the grievance.
Fourth Level. The balance, if any, of such Distributable Cash remaining after the distributions pursuant to subsections A, B and C above shall be distributed to the Common Members, as follows: (1) 80% to BREA, Columbia, Common Investor and ESC in accordance with their respective relative Common Percentages; and (2) the remaining 20% to ESC; until there shall have been distributed to each of BREA, Columbia and the Common Investor from such Distributable Cash under this subsection D an amount sufficient to eliminate the then “25% IRR Deficiency” (as defined in the IRR Exhibit) applicable to such Members; and there shall be no distributions of Distributable Cash under subsection E below at any time when there is a positive 25% IRR Deficiency with respect to either such Member; and
Fourth Level. Within said five (5) days, either party may request arbitration. The parties shall, within ten (10) days after the request to arbitrate, attempt to agree upon the selection of an arbitrator. If no agreement on an arbitrator is reached, either party may request the Bureau of Mediation Services to submit a list of five arbitrators, providing such request is made within twenty (20) days after request for arbitration. The parties shall alternately strike names from the list of five until only one name remains that shall be the agreed-upon arbitrator. Failure to request a list of arbitrators from the Bureau of Mediation Services within the time periods provided herein shall constitute a waiver of the grievance.
Fourth Level. The balance of the Net Sales Proceeds and Net Financing Proceeds remaining after the distributions pursuant to subsections A through C above shall be distributed 92.575% to Associates and 7.425% to 14-15
Fourth Level. Fourth, 100% to Tejon until Tejon has received distributions under this Section 4.4H(4) that, together with Sections 4.4H(2) and 4.4H(3), cumulatively total the Condemnation Threshold; and
Fourth Level. To the Members who have made Pre-Development Period Contributions in proportion to their respective unreturned Pre-Development Period Contributions until their respective unreturned Pre-Development Period Contributions are repaid in full;
Fourth Level. If the grievant is not satisfied with the disposition of his/her grievance at Level #3, the Union may, within twenty (20) workdays after receipt of the Superintendent’s written response, request in writing, arbitration. The arbitrator will be contacted through the American Arbitration Association within twenty (20) workdays. In the event the AAA cannot provide the arbitrator, the selection of an arbitrator shall be made by mutual agreement of the Board of Education and the O.E.S.P.A.
Fourth Level. Fourth, 50% to Tejon and 50% to DMB until Tejon has recovered the amount of its Property Contribution and received a 20% return, compounded quarterly, on the amount of its Property Contribution;
Fourth Level. To the Members, pro rata in accordance with their respective Percentage Interests, until the Developers who are not Defaulting Members have collectively received distributions under Section 6.1C and this Section 6.1D sufficient to achieve an internal rate of return of 25% on their Capital Contributions, calculated in accordance with Exhibit “E” attached hereto;
Fourth Level. The balance, if any, of such Distributable Cash remaining after the distributions pursuant to subsections A, B and C above shall be distributed to the Partners in accordance with their respective Residual Percentages on a pari passu basis. The cash portion of the sale price of the Partnership Property or any part thereof, together with all installments and payments of cash (other than interest) of or against any deferred portion of such purchase price, 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.
