Common use of Operating Deficit Reserve Account Clause in Contracts

Operating Deficit Reserve Account. The General Partner, on behalf of the Partnership, shall establish an operating reserve account and shall deposit thereinto $96,549. Funds from the operating deficit reserve will be used to fund Operating Deficits until the expiration of the Operating Deficit Guarantee Period. Withdrawals from the operating deficit reserve shall be made only with the Consent of the Special Limited Partner, which Consent shall not be unreasonably withheld.

Appears in 3 contracts

Samples: Development Fee Agreement (WNC Housing Tax Credit Fund Vi Lp Series 9), Development Fee Agreement (WNC Housing Tax Credit Fund Vi Lp Series 9), Development Fee Agreement (WNC Housing Tax Credit Fund Vi Lp Series 10)

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Operating Deficit Reserve Account. The General Partner, on behalf of the Partnership, shall establish an operating reserve account and shall deposit thereinto thereunto $96,54986,720. Funds from the operating deficit reserve will be used to fund Operating Deficits until the expiration of the Operating Deficit Guarantee Period. Withdrawals from the operating deficit reserve shall be made only with the Consent of the Special Limited Partner, which Consent shall not be unreasonably withheld.

Appears in 1 contract

Samples: WNC Housing Tax Credit Fund Vi Lp Series 9

Operating Deficit Reserve Account. The General Partner, on behalf of the Partnership, shall establish an operating reserve account and shall deposit thereinto thereunto $96,54985,576. Funds from the operating deficit reserve will be used to fund Operating Deficits until the expiration of the Operating Deficit Guarantee Period. Withdrawals from the operating deficit reserve shall be made only with the Consent of the Special Limited Partner, which Consent shall not be unreasonably withheld.

Appears in 1 contract

Samples: WNC Housing Tax Credit Fund Vi Lp Series 9

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Operating Deficit Reserve Account. The General Partner, on behalf of the Partnership, shall establish an operating reserve account and shall deposit thereinto thereunto $96,54991,053. Funds from the operating deficit reserve will be used to fund Operating Deficits until the expiration of the Operating Deficit Guarantee Period. Withdrawals from the operating deficit reserve shall be made only with the Consent of the Special Limited Partner, which Consent shall not be unreasonably withheld.

Appears in 1 contract

Samples: Agreement (WNC Housing Tax Credit Fund Vi Lp Series 10)

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