Common use of Lender Disapproval Clause in Contracts

Lender Disapproval. If any Agency or Lender shall disapprove, or fail to give any required approval of, the Investment Limited Partner and/or the Special Limited Partner as a Limited Partner hereunder within one hundred eighty (180) days of the Admission Date, then the Partner being disapproved or not approved shall, effective as of such time or such later time as may be elected by the Partner being disapproved or not approved as may be specified by such Agency or Lender in its disapproval, at the option of the Partner being disapproved or not approved (if not directed by such Agency or Lender to withdraw), cease to be a Limited Partner. The General Partner shall, within thirty (30) days of the effective date of such cessation, pay to the Partner being disapproved or not approved an amount equal to its Invested Amount minus the amount, if any, of such Partner's Capital Contribution which shall not yet have been paid (or deemed to have been paid) to the Partnership plus the amount of any third party costs, including, but not limited to attorney's fees, incurred by or on behalf of such Partner in implementing this Section 5.2(b).

Lender Disapproval. If any Agency or Lender shall disapprove, or fail to give any required approval of, the Investment Limited Partner and/or the Special Limited Partner as a Limited Partner hereunder within one hundred eighty (180) days of the Admission Date, then the Partner being disapproved or not approved shall, effective as of such time or such later time as may be elected by the Partner being disapproved or not approved as may be specified by such Agency or Lender in its disapproval, at the option of the Partner being disapproved or not approved (if not directed by such Agency or Lender to withdraw), cease to be a Limited Partner. The General Partner shall, within thirty ten (3010) days of the effective date of such cessation, pay to the Partner being disapproved or not approved an amount equal to its Invested Amount minus the amount, if any, of such Partner's Capital Contribution which shall not yet have been paid (or deemed to have been paid) to the Partnership plus the amount of any third party costs, including, but not limited to attorney's fees, incurred by or on behalf of such Partner in implementing this Section 5.2(b).

Lender Disapproval. If any Agency or Lender shall disapprove, or fail to give any required approval of, the Investment Limited Partner and/or the Special Limited Partner as a Limited Partner hereunder within one hundred eighty (180) days of the Admission Date, then the Partner being disapproved or not approved shall, effective as of such time or such later time as may be elected selected by the Partner being disapproved or not approved (or such other time as may be specified by such Agency or the Lender in its disapproval), at the option of the Partner being disapproved or not approved (if not directed by such Agency or the Lender to withdraw), cease to be a Limited Partner. The General Partner Partners shall, within thirty ten (3010) days of the effective date of such cessation, pay to the Partner being disapproved or not approved an amount equal to its Invested Amount minus the amount, if any, of such Partner's Capital Contribution which shall not yet have been paid (or deemed to have been paid) to the Partnership plus the amount of any third party costs, including, but not limited to attorney's fees, incurred by or on behalf of such Partner in implementing this Section 5.2(b).

Lender Disapproval. If any Lender and/or Agency or Lender shall disapprove, or fail to give any required approval of, the Investment Limited Partner and/or the Special Limited Partner as a Limited Partner hereunder within one hundred eighty (180) days of the Admission Date, then the such Limited Partner being disapproved or not approved shall, effective as of such time or such later time as may be elected selected by the such Limited Partner being disapproved (or not approved such other time as may be specified by such the Lender and/or Agency or Lender in its disapproval), at the option of the Partner being disapproved or not approved (such Limited Partner, if not directed by such the Lender and/or Agency or Lender to withdraw), cease to be a Limited Partner. The Managing General Partner shall, within thirty ten (3010) days of the effective date of such cessation, pay to the such Limited Partner being disapproved or not approved an amount equal to its Invested Amount minus the amount, if any, of such Limited Partner's Capital Contribution which shall not yet have been paid (or deemed to have been paid) to the Partnership plus the amount of any third party costs, including, but not limited to attorney's fees, incurred by or on behalf of such Partner in implementing this Section 5.2(b).

Lender Disapproval. If any Agency or Lender FmHA shall disapprove, or fail to give any required approval of, the Investment Limited Partner and/or the Special Limited Partner as a Limited Partner hereunder within one hundred eighty (180) days of the Admission Date, then the Partner being disapproved or not approved shall, effective as of such time or such later time as may be elected selected by the Partner being disapproved or not approved (or such other time as may be specified by such Agency or Lender FmHA in its disapproval), at the option of the Partner being disapproved or not approved (if not directed by such Agency or Lender FmHA to withdraw), cease to be a Limited Partner. The General Partner Partners shall, within thirty ten (3010) days of the effective date of such cessation, pay to the Partner being disapproved or not approved an amount equal to its Invested Amount minus the amount, if any, of such Partner's Capital Contribution which shall not yet have been paid (or deemed to have been paid) to the Partnership plus the amount of any third party costs, including, but not limited to attorney's fees, incurred by or on behalf of such Partner in implementing this Section 5.2(b).

Lender Disapproval. If any Agency or Lender shall disapprove, or fail to give any required approval of, the Investment Limited Partner Partners and/or the Special Limited Partner as a Limited Partner hereunder within one hundred eighty (180) days of the Admission Date, then the Partner being disapproved or not approved shall, effective as of such time or such later time as may be elected by the Partner being disapproved or not approved as may be specified by such Agency or Lender in its disapproval, at the option of the Partner being disapproved or not approved (if not directed by such Agency or Lender to withdraw), cease to be a Limited Partner. The General Partner shall, within thirty ten (3010) days of the effective date of such cessation, pay to the Partner being disapproved or not approved an amount equal to its Invested Amount minus the amount, if any, of such Partner's Capital Contribution which shall not yet have been Contributions paid in (or and those deemed to have been paid) to the Partnership plus the amount of any third party costs, including, but not limited to attorney's fees, incurred by or on behalf of such Partner in implementing this Section 5.2(b).

Lender Disapproval. If any Agency or Lender RECD shall disapprove, or fail to give any required approval of, the Investment Limited Partner and/or the Special Limited Partner as a Limited Partner hereunder within one hundred eighty (180) days of the Admission Date, then the Partner being disapproved or not approved shall, effective as of such time or such later time as may be elected selected by the Partner being disapproved or not approved (or such other time as may be specified by such Agency or Lender RECD in its disapproval), at the option of the Partner being disapproved or not approved (if not directed by such Agency or Lender RECD to withdraw), cease to be a Limited Partner. The General Partner Partners shall, within thirty ten (3010) days of the effective date of such cessation, pay to the Partner being disapproved or not approved an amount equal to its Invested Amount Capital Contribution minus the amount, if any, of such Partner's Capital Contribution which shall not yet have been paid (or deemed to have been paid) to the Partnership plus the amount of any third party costs, including, but not limited to attorney's fees, incurred by or on behalf of such Partner in implementing this Section 5.2(b).

Lender Disapproval. If any Agency or the Construction Lender and/or the Permanent Lender shall disapprove, or fail to give any required approval of, the Investment Limited Partner and/or the Special Limited Partner as a Limited Partner hereunder within one hundred eighty (180) days of the Admission Date, then the Partner being disapproved or not approved shall, effective as of such time or such later time as may be elected selected by the Partner being disapproved or not approved shall, (or such other time as may be specified by such Agency or the Construction Lender and/or the Permanent Lender in its disapproval, at disapproval),at the option of the Partner being disapproved or not approved (if not directed by such Agency or the Construction Lender and/or the Permanent Lender not to withdraw), cease to be a Limited Partner. The General Partner Partners shall, within thirty ten (3010) days of the effective date of such cessation, pay to the Partner being disapproved or not approved an amount equal to its Invested Amount minus the amount, if any, of such Partner's Capital Contribution which shall not yet have been paid (or deemed to have been paid) to the Partnership plus the amount of any third party costs, including, but not limited to attorney's fees, incurred by or on behalf of such Partner in implementing this Section 5.2(b).