Fifth Level. The balance, if any, of such Distributable Cash remaining after the distributions pursuant to subsections A, B, C and D above shall be distributed to the Common Members, as follows: (1) 75% to BREA, Columbia, the Common Investor and ESC in accordance with their respective relative Common Percentages; and (2) the remaining 25% to ESC. Distributable Cash shall be distributed in accordance with the levels provided above, with each Member 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.
Fifth Level. To the Members in proportion to their respective unreturned Development Stage Contributions until their respective unreturned Development Stage Contributions are repaid in full;
Fifth Level. Last, to the Members, pro rata 50% to Tejon and 50% to DMB. The parties shall cooperate to achieve favorable tax treatment of any such payments. The closing of the buy out contemplated in this section shall be consummated on or before the date (the “Closing Date”) which is thirty (30) days after receipt of the condemnation proceeds by Tejon. Notwithstanding anything to the contrary herein, if the condemnation proceeds actually received by Tejon differ from that set forth in the Buy Out Notice, the purchase price shall be determined based on the amount of proceeds actually received. For purposes of Exhibit “E”, Tejon shall be the “Purchasing Member”, and DMB shall be the “Selling Member”.
Fifth Level. To the Members, pro rata in accordance with the following percentages: 70% to Tejon and 30% to the Developers in proportion to their respective Percentage Interests, until the aggregate amount distributed to Tejon during the current and all prior periods pursuant to this Section 6.1E equals Thirty Million Dollars ($30,000,000); and
Fifth Level. Fifth, 50% to Tejon and 50% to DMB until Tejon and DMB have recovered their respective Shared Development Contributions and received a 12% return, compounded quarterly, on their respective Shared Development Contributions;
Fifth Level. Last, to the Members, pro rata 50% to Tejon and 50% to DMB, EXHIBIT "E" TAX APPENDIX A ALLOCATION OF PROFITS AND LOSSES/REGULATORY ALLOCATIONS
Fifth Level. The balance, if any, of such Distributable Cash remaining after the distributions pursuant to subsections 4.1.2.1, 4.1.2.2, 4.1.2.3 and 4.1.2.4 above shall be distributed to the Members, as follows: (a) 70% to the to the Members pro rata in accordance with their Percentage Interests, (b) 30% to Class A Member. An example of a calculation of the distributions above is attached to this Agreement as Exhibit C.
