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NYC Opportunity Fund, LLC
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== Returns == === ''Distributions'' === The Manager may at any time, in its sole discretion, make and pay distributions of the Company’s Operating Cash Flow or Net Capital Proceeds (each as defined in the Operating Agreement) to the Members, pro rata, in proportion to their Shares. In determining cash flow available for distribution, the Manager may deduct any amounts necessary in its sole discretion to meet expenses and liabilities of the Company, including but not limited to the Management Fee, and establish reserves, therefore. Distributions of Operating Cash Flow will be determined within thirty (30) days after the end of each fiscal year or at such times as the Manager deems appropriate, although the Manager does not expect to make any distributions of Operating Cash Flow until at least the end of the Investment Period. Each Member’s share of each such distribution of Operating Cash Flow will then be distributed among the Members as follows: (i) First, one hundred percent (100%) to the Investor Members until each Investor Member has received an amount equal to his, her, or its Preferred Return, accrued through the date of distribution; (ii) Second, eighty percent (80%) to the Investor Members and twenty percent (20%) to the holders of Common Shares. “'''''Preferred Return'''''” means, with respect to Investor Members, a cumulative, non-compounded return of six percent (6.00%) ''per annum'' on such Investor Member’s Unreturned Capital Contribution. “'''''Unreturned Capital Contribution'''''” means, with respect to an Investor Member, as of any date, an amount equal to the aggregate capital contribution made by such Investor Member according to the Operating Agreement, less the total distributions made to such Investor Member in return of such capital contributions pursuant to the Operating Agreement. After the conclusion of the Investment Period and within thirty (30) days after a Capital Transaction or at such other times as the Manager deems appropriate, the Company shall distribute its Net Capital Proceeds as follows: (i) First, one hundred percent (100%) to the Investor Members until each Investor Member has received an amount equal to his, her, or its Preferred Return, accrued through the date of distribution; (ii) Second, one hundred percent (100%) to the Investor Members in proportion to each Investor Member’s Unreturned Capital Contribution, until the Unreturned Capital Contribution of all Investor Members has been reduced to zero. (iii) Third, eighty percent (80%) to the Investor Members and twenty percent (20%) to the holders of Common Shares. [[Category:Thesis]] [[Category:Equities]] __INDEX__
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