Security Interest and Right of Set-Off. As security for the performance of the respective obligations to which any General Partner may be subject under this Agreement, the Partnership shall have (and each General Partner hereby grants to the Partnership) a security interest in their respective Interests of such General Partner and in all funds distributable to said General Partner to the extent of the amount of such obligation. [Signatures begin on the following page]
Appears in 3 contracts
Samples: Certification and Agreement (WNC Housing Tax Credit Fund Vi Lp Series 12), Development Fee Agreement (WNC Housing Tax Credit Fund Vi Lp Series 12), Development Fee Agreement (WNC Housing Tax Credit Fund Vi Lp Series 11)
Security Interest and Right of Set-Off. As security for the performance of the respective obligations to which any General Partner may be subject under this Agreement, the General Partnership shall have (and each General Partner hereby grants to the Partnership) a security interest in their respective Interests of such General Partner and in all funds distributable to said General Partner to the extent of the amount of such obligation. [Signatures begin on the following page].
Appears in 3 contracts
Samples: Certification and Agreement (WNC Housing Tax Credit Fund VI, L.P., Series 13), Amended and Restated Agreement (WNC Housing Tax Credit Fund Vi Lp Series 11), Certification and Agreement (WNC Housing Tax Credit Fund VI, L.P., Series 13)
Security Interest and Right of Set-Off. As security for the performance of the respective obligations to which any General Partner may be subject under this Agreement, the Partnership shall have (and each General Partner hereby grants to the Partnership) a security interest in their respective Interests of such General Partner and in all funds distributable to said General Partner to the extent of the amount of such obligation. [Signatures begin on the following page].
Appears in 2 contracts
Samples: Budget Agreement (WNC Housing Tax Credit Fund VI, L.P., Series 13), Budget Agreement (WNC Housing Tax Credit Fund VI, L.P., Series 13)
Security Interest and Right of Set-Off. As security for the performance of the respective obligations to which any General Partner may be subject under this Agreement, the Partnership shall have (and each General Partner hereby grants to the Partnership) a security interest in their respective Interests of such General Partner and in all funds distributable to said General Partner to the extent of the amount of such obligation. [Signatures begin on the following page].
Appears in 1 contract
Samples: Certification and Agreement (WNC Housing Tax Credit Fund Vi Lp Series 10)
Security Interest and Right of Set-Off. As security for the performance of the respective obligations to which any General Partner may be subject under this Agreement, the Partnership shall and the Limited Partner will have (and each General Partner hereby grants to the PartnershipPartnership and the Limited Partner) a security interest in their the respective Interests of such General Partner and in all funds distributable to said General Partner to the extent of the amount of such obligation. [Signatures begin on the following page], provided that such interest is subordinate to any security interest held by any lender of a Construction Loan or Mortgage Loan.
Appears in 1 contract
Samples: Guaranty Agreement
