Accrual of Development Fee. The Development Fee shall be earned no later than the end of the first year of the tax credit period referenced in Section 42(f)(1) of the Code. Once any portion of the Development Fee has been earned, it shall be payable by the Partnership in all events.
Appears in 25 contracts
Samples: Guaranty Agreement, Certification and Agreement (WNC Housing Tax Credit Fund Vi Lp Series 12), Development Fee Agreement (WNC Housing Tax Credit Fund Vi Lp Series 9)
Accrual of Development Fee. The Development Fee shall be earned no later than the end of the first year of the tax credit period referenced in Section 42(f)(1) of the Code. Once any portion of the Development Fee has been earned, it shall be payable by the Partnership in all events.
Appears in 1 contract
Samples: Certification and Agreement (WNC Housing Tax Credit Fund Vi Lp Series 9)
