Distribution of Net Operating Income. Net Operating Income shall be distributed at each calendar quarter after the establishment of the Operating Reserve and shall be applied in the following order of priority:
Appears in 2 contracts
Samples: Certification and Agreement (WNC Housing Tax Credit Fund Vi Lp Series 8), Certification and Agreement (WNC Housing Tax Credit Fund Vi Lp Series 7)
Distribution of Net Operating Income. Except as otherwise provided, Net Operating Income for each fiscal year shall be distributed at each calendar quarter after the establishment of the Operating Reserve and shall be applied in the following order of priority:
Appears in 1 contract
Samples: Certification and Agreement (WNC Housing Tax Credit Fund Vi Lp Series 12)
Distribution of Net Operating Income. Except as otherwise provided, Net Operating Income for each fiscal year shall be distributed at each calendar quarter after the establishment of the Operating Reserve and quarterand shall be applied in the following order of priority:
Appears in 1 contract
Samples: Development Fee Agreement (WNC Housing Tax Credit Fund Vi Lp Series 11)
