Examples of Unreturned Capital Contributions in a sentence
When calculating the distribution formulas set forth above, all distributions paid to the Members in excess of the cumulative 6% Preferred Return shall be applied to reduce the Members’ Unreturned Capital Contributions.
Notwithstanding the forgoing, no payment of Excess Distributions shall be made to the Manager unless the Members received distributions under Sections 1 of the 6% Preferred Return Amount, for each annual period, while Unreturned Capital Contributions have not yet been reduced to zero.
Third, provided the entire annual 6% Preferred Return, as set forth in Section 1 above, has been paid for eachannual period in which the amount of Unreturned Capital Contributions have not yet been reduced to zero, to the Manager in payment of the catch up Distributions, to be paid to the Manager, in the amount equal to 40% of the Distributions actually made to the Members to the extent the distributed amount exceeds the 6% Preferred Return Amount (“ Excess Distributions”).
Third, provided the entire annual 6% Preferred Return, as set forth in Section 1 above, has been paid for each annual period in which the amount of Unreturned Capital Contributions have not yet been reduced to zero, to the Manager in payment of the catch up distributions, to be paid to the Manager, in the amount equal to 40% of Distributions actually made to the Members to the extent the distributed amount exceeds the 6% Preferred Return Amount (“ Excess Distributions”).
In reference to distributions to the Members, except as otherwise provided under Sections 4 - 7, it shall include the Manager as to its Unreturned Capital Contributions.