{"component": "definition", "props": {"groups": [{"samples": [{"hash": "k0D3bpUqXZO", "uri": "/contracts/k0D3bpUqXZO#operating-deficit", "label": "Limited Partnership Agreement (WNC Housing Tax Credit Fund Vi Lp Series 9)", "score": 18.0, "published": true}, {"hash": "iALlJRS758m", "uri": "/contracts/iALlJRS758m#operating-deficit", "label": "Limited Partnership Agreement (WNC Housing Tax Credit Fund Vi Lp Series 9)", "score": 18.0, "published": true}, {"hash": "i5sibo49fh7", "uri": "/contracts/i5sibo49fh7#operating-deficit", "label": "Limited Partnership Agreement (WNC Housing Tax Credit Fund Vi Lp Series 7)", "score": 18.0, "published": true}], "snippet": "means, for the applicable period, insufficient funds to pay operating costs when Cash Expenses exceed Cash Receipts, as determined by the Accountant and approved by the Special Limited Partner.", "size": 53, "snippet_links": [{"key": "applicable-period", "type": "definition", "offset": [15, 32]}, {"key": "insufficient-funds", "type": "definition", "offset": [34, 52]}, {"key": "to-pay", "type": "clause", "offset": [53, 59]}, {"key": "operating-costs", "type": "clause", "offset": [60, 75]}, {"key": "cash-expenses", "type": "definition", "offset": [81, 94]}, {"key": "cash-receipts", "type": "definition", "offset": [102, 115]}, {"key": "the-accountant", "type": "clause", "offset": [134, 148]}, {"key": "approved-by", "type": "clause", "offset": [153, 164]}, {"key": "special-limited-partner", "type": "clause", "offset": [169, 192]}], "hash": "8deaf706ffda18b25a5d0c5497b53718", "id": 1}, {"samples": [{"hash": "bhVQslIyfr3", "uri": "https://le.utah.gov/Session/2025/bills/introduced/CP%20HB0307%20To%20HB0307S03.pdf", "label": "le.utah.gov", "score": 19.1677617708, "published": false}, {"hash": "ebEfwmF89Qm", "uri": "https://le.utah.gov/Session/2025/bills/introduced/CP%20HB0307%20To%20HB0307S01.pdf", "label": "le.utah.gov", "score": 18.9232368469, "published": false}, {"hash": "9F3pcZvsBKh", "uri": "https://le.utah.gov/~2024/bills/hbillint/HB0437S03_ComparedWith_HB0437S02.pdf", "label": "le.utah.gov", "score": 17.7089157104, "published": false}], "snippet": "means that, at the end of the fiscal year, the unassigned fund balance in the General Fund is less than zero.", "size": 22, "snippet_links": [{"key": "at-the-end-of-the", "type": "clause", "offset": [12, 29]}, {"key": "fiscal-year", "type": "definition", "offset": [30, 41]}, {"key": "unassigned-fund-balance", "type": "definition", "offset": [47, 70]}, {"key": "general-fund", "type": "clause", "offset": [78, 90]}], "hash": "4e8d1ac7481e942724841a983c42f9ea", "id": 2}, {"samples": [{"hash": "kWVfegzersk", "uri": "/contracts/kWVfegzersk#operating-deficit", "label": "Limited Partnership Agreement (WNC Housing Tax Credit Fund Vi Lp Series 6)", "score": 18.0, "published": true}, {"hash": "k11azFTUvyI", "uri": "/contracts/k11azFTUvyI#operating-deficit", "label": "Limited Partnership Agreement (WNC Housing Tax Credit Fund Vi Lp Series 8)", "score": 18.0, "published": true}, {"hash": "jPech9VklOV", "uri": "/contracts/jPech9VklOV#operating-deficit", "label": "Limited Partnership Agreement (WNC Housing Tax Credit Fund Vi Lp Series 5)", "score": 18.0, "published": true}], "snippet": "means at any time when the Partnership does not have Net Operating Income as determined by the Accountant and approved by the Special Limited Partner.", "size": 19, "snippet_links": [{"key": "at-any-time", "type": "clause", "offset": [6, 17]}, {"key": "the-partnership", "type": "clause", "offset": [23, 38]}, {"key": "net-operating-income", "type": "clause", "offset": [53, 73]}, {"key": "the-accountant", "type": "clause", "offset": [91, 105]}, {"key": "approved-by", "type": "clause", "offset": [110, 121]}, {"key": "special-limited-partner", "type": "clause", "offset": [126, 149]}], "hash": "f7b4a9d1aba7ccf16c6379e5899347db", "id": 3}, {"samples": [{"hash": "jyfQIDNfVot", "uri": "https://docs.legis.wisconsin.gov/statutes/statutes/85.pdf", "label": "docs.legis.wisconsin.gov", "score": 8.1704311371, "published": false}, {"hash": "avz86qYk0Dz", "uri": "https://docs.legis.wisconsin.gov/2017/statutes/statutes/85.pdf", "label": "docs.legis.wisconsin.gov", "score": 7.6557154655, "published": false}, {"hash": "3V1jc1tbR8z", "uri": "https://docs.legis.wisconsin.gov/2015/statutes/statutes/85.pdf", "label": "docs.legis.wisconsin.gov", "score": 6.5044488907, "published": false}], "snippet": "means the amount by which the total operating expenses incurred in the operation of an urban mass transit system exceeds the amount of operating revenue derived therefrom.", "size": 12, "snippet_links": [{"key": "expenses-incurred", "type": "clause", "offset": [46, 63]}, {"key": "operation-of", "type": "clause", "offset": [71, 83]}, {"key": "urban-mass-transit-system", "type": "definition", "offset": [87, 112]}, {"key": "operating-revenue", "type": "clause", "offset": [135, 152]}], "hash": "edd722d3ac2336b210f9de117cfb6b36", "id": 4}, {"samples": [{"hash": "lh4hT7DmDRN", "uri": "/contracts/lh4hT7DmDRN#operating-deficit", "label": "Limited Partnership Agreement (Boston Capital Tax Credit Fund Iv Lp)", "score": 18.0, "published": true}, {"hash": "lSvHLmo0OAG", "uri": "/contracts/lSvHLmo0OAG#operating-deficit", "label": "Limited Partnership Agreement (Boston Capital Tax Credit Fund Iv Lp)", "score": 18.0, "published": true}, {"hash": "kqYDhXG44GS", "uri": "/contracts/kqYDhXG44GS#operating-deficit", "label": "Limited Partnership Agreement (Boston Capital Tax Credit Fund Iv Lp)", "score": 18.0, "published": true}], "snippet": "means, for any specified period of time, the amount by which the Cash Receipts of the Partnership are less than the amount necessary to pay all Cash Expenditures of the Partnership.", "size": 11, "snippet_links": [{"key": "period-of-time", "type": "clause", "offset": [25, 39]}, {"key": "cash-receipts", "type": "definition", "offset": [65, 78]}, {"key": "the-partnership", "type": "clause", "offset": [82, 97]}, {"key": "to-pay", "type": "clause", "offset": [133, 139]}, {"key": "cash-expenditures", "type": "definition", "offset": [144, 161]}], "hash": "81f0eeb8a0edf3f5a77f11312110e953", "id": 5}, {"samples": [{"hash": "fp5e3Sqpobx", "uri": "/contracts/fp5e3Sqpobx#operating-deficit", "label": "Supportive Housing Fund Operator Agreement", "score": 33.3328552246, "published": true}, {"hash": "hnXStHrKSBL", "uri": "/contracts/hnXStHrKSBL#operating-deficit", "label": "Operator and Support Services Agreement", "score": 32.4432106018, "published": true}, {"hash": "iA8q12g2Nj", "uri": "/contracts/iA8q12g2Nj#operating-deficit", "label": "Supportive Housing Fund Operator Agreement", "score": 23.2778911591, "published": true}], "snippet": "means the shortfall of revenue compared to expenses as dictated by the approved Operating Budget, Support Services Budget and/or approved by BC Housing.", "size": 10, "snippet_links": [{"key": "approved-operating-budget", "type": "clause", "offset": [71, 96]}, {"key": "support-services-budget", "type": "definition", "offset": [98, 121]}, {"key": "approved-by", "type": "clause", "offset": [129, 140]}, {"key": "bc-housing", "type": "definition", "offset": [141, 151]}], "hash": "08c06886856179b26c7d288253ac7ab2", "id": 6}, {"samples": [{"hash": "bN06hGMvqhV", "uri": "https://docs.legis.wisconsin.gov/code/register/2023/811b/remove/trans4.pdf", "label": "docs.legis.wisconsin.gov", "score": 18.4104652405, "published": false}, {"hash": "fqxk6JyoQTm", "uri": "https://docs.legis.wisconsin.gov/code/register/2008/626b/insert/trans4.pdf", "label": "docs.legis.wisconsin.gov", "score": 15.1372394562, "published": false}, {"hash": "48uDa7xTmBh", "uri": "https://docs.legis.wisconsin.gov/code/register/2001/551b/remove/trans4.pdf", "label": "docs.legis.wisconsin.gov", "score": 15.127199173, "published": false}], "snippet": "means the amount by which the total operating expenses incurred in the operation of a mass transit sys- tem exceeds the amount of operating revenues derived therefrom.", "size": 8, "snippet_links": [{"key": "expenses-incurred", "type": "clause", "offset": [46, 63]}, {"key": "operation-of", "type": "clause", "offset": [71, 83]}, {"key": "mass-transit", "type": "clause", "offset": [86, 98]}, {"key": "operating-revenues", "type": "definition", "offset": [130, 148]}], "hash": "b54485bca3df7b21661b8a30579e6d15", "id": 7}, {"samples": [{"hash": "3tPeghynITK", "uri": "https://leg.wa.gov/media/xrqht5oe/title-28b-rcw.pdf", "label": "leg.wa.gov", "score": 16.4406261444, "published": false}, {"hash": "dzVrRbD58GX", "uri": "https://leg.wa.gov/media/tcinowx4/title-28b-rcw.pdf", "label": "leg.wa.gov", "score": 15.6505842209, "published": false}, {"hash": "2s75E8nFK0t", "uri": "https://leg.wa.gov/CodeReviser/RCWArchive/Documents/2022/Title%2028B%20RCW.pdf", "label": "leg.wa.gov", "score": 11.2628335953, "published": false}], "snippet": "means the amount by which the aggregate operating costs of the programs exceeds the aggre- gated receipts and revenue directly generated by the pro- grams in the fiscal year, plus any transfers of reserves that were originally generated directly by the athletic department account.", "size": 8, "snippet_links": [{"key": "costs-of", "type": "clause", "offset": [50, 58]}, {"key": "the-programs", "type": "clause", "offset": [59, 71]}, {"key": "fiscal-year", "type": "definition", "offset": [162, 173]}, {"key": "transfers-of", "type": "clause", "offset": [184, 196]}, {"key": "athletic-department", "type": "definition", "offset": [253, 272]}], "hash": "b1b98a846017d3f633dfe167410d9804", "id": 8}, {"samples": [{"hash": "318jTfpp4O8", "uri": "/contracts/318jTfpp4O8#operating-deficit", "label": "Guaranty Agreement", "score": 31.3390369415, "published": true}, {"hash": "gnWVPsE6PDo", "uri": "/contracts/gnWVPsE6PDo#operating-deficit", "label": "Guaranty Agreement", "score": 31.0789871216, "published": true}, {"hash": "5KCCNTc6lOK", "uri": "/contracts/5KCCNTc6lOK#operating-deficit", "label": "Guaranty Agreement", "score": 29.0834465027, "published": true}], "snippet": "for any relevant period, the excess of Operating Expenses (or a portion thereof) plus the payment of principal and interest due and payable on the Gap Financing Loan over the Borrower\u2019s cash revenues of every kind from the operation of the Project for such fiscal period (excluding loans made to Borrower for payment of an Operating Deficit, extraordinary cash proceeds and capital contributions, and excluding amounts drawn from a reserve account).", "size": 4, "snippet_links": [{"key": "relevant-period", "type": "definition", "offset": [8, 23]}, {"key": "the-excess", "type": "clause", "offset": [25, 35]}, {"key": "operating-expenses", "type": "definition", "offset": [39, 57]}, {"key": "a-portion", "type": "definition", "offset": [62, 71]}, {"key": "due-and-payable", "type": "definition", "offset": [124, 139]}, {"key": "gap-financing-loan", "type": "clause", "offset": [147, 165]}, {"key": "the-borrower", "type": "definition", "offset": [171, 183]}, {"key": "cash-revenues", "type": "definition", "offset": [186, 199]}, {"key": "operation-of-the-project", "type": "clause", "offset": [223, 247]}, {"key": "fiscal-period", "type": "definition", "offset": [257, 270]}, {"key": "to-borrower", "type": "definition", "offset": [293, 304]}, {"key": "for-payment", "type": "clause", "offset": [305, 316]}, {"key": "an-operating", "type": "clause", "offset": [320, 332]}, {"key": "extraordinary-cash-proceeds", "type": "definition", "offset": [342, 369]}, {"key": "capital-contributions", "type": "definition", "offset": [374, 395]}, {"key": "reserve-account", "type": "clause", "offset": [432, 447]}], "hash": "9cbf15fe621dab5baf125ef318b5e61c", "id": 9}, {"samples": [{"hash": "EwaNEaTitd", "uri": "/contracts/EwaNEaTitd#operating-deficit", "label": "Operating Agreement", "score": 26.1704311371, "published": true}, {"hash": "4SJUmv7F6g9", "uri": "/contracts/4SJUmv7F6g9#operating-deficit", "label": "Operating Agreement", "score": 26.1704311371, "published": true}, {"hash": "aLjMiO5UMBQ", "uri": "/contracts/aLjMiO5UMBQ#operating-deficit", "label": "Operating Agreement", "score": 22.6386032104, "published": true}], "snippet": "means, with respect to any given period of time, an excess of Expenses over Gross Revenue, determined, subject to this Agreement, in accordance with Generally Accepted Accounting Principles.", "size": 3, "snippet_links": [{"key": "with-respect-to", "type": "clause", "offset": [7, 22]}, {"key": "period-of-time", "type": "clause", "offset": [33, 47]}, {"key": "gross-revenue", "type": "clause", "offset": [76, 89]}, {"key": "to-this-agreement", "type": "clause", "offset": [111, 128]}, {"key": "in-accordance-with", "type": "clause", "offset": [130, 148]}, {"key": "generally-accepted-accounting-principles", "type": "clause", "offset": [149, 189]}], "hash": "9a890340885f8b71f131db401b4931a0", "id": 10}], "next_curs": "Cl4SWGoVc35sYXdpbnNpZGVyY29udHJhY3RzcjoLEhpEZWZpbml0aW9uU25pcHBldEdyb3VwX3Y1NiIab3BlcmF0aW5nLWRlZmljaXQjMDAwMDAwMGEMogECZW4YACAA", "definition": {"snippet": "means, for the applicable period, insufficient funds to pay operating costs when Cash Expenses exceed Cash Receipts, as determined by the Accountant and approved by the Special Limited Partner.", "size": 232, "title": "Operating Deficit", "id": "operating-deficit", "examples": ["In addition, the Borrower covenants and agrees that if the Borrower makes any <strong>Operating Deficit</strong> Loan repayments to the General Partner, any such payments that utilizes Residual Receipts funds shall be paid solely from Borrower\u2019s retained thirty- eight percent (38%) of the Residual Receipts, pursuant to the disbursement of such Residual Receipts to the Borrower under Section 2.05(b)(1) above.", "The PACE Contribution to the PROJECT will be calculated monthly on a year-to- date basis, to ensure that the annual PACE Contribution does not exceed fifty percent (50%) of the <strong>Operating Deficit</strong> or the pro-rated year to date amount and is not depleted before the end of the term of this Agreement.", "The General Partner shall be permitted to fund additional amounts to the <strong>Operating Deficit</strong> Account from Project sources.", "The COUNTY Contribution will be calculated monthly on a year-to-date basis to ensure that the annual COUNTY Contribution does not exceed fifty percent (50%) of the <strong>Operating Deficit</strong> or the pro-rated year to date amount and is not depleted before the end of the term of this Agreement.", "The Administrative General Partner, on behalf of the Partnership, shall establish an <strong>Operating Deficit</strong> Account in the amount of $354,003 (the \u201cReserve Minimum\u201d), which shall be funded from the proceeds of the Capital Contribution made pursuant to Section 7.2(e) and other Project sources.", "The funds in the <strong>Operating Deficit</strong> Account will be used to pay operating expenses excluding capital repair and maintenance items following full funding of <strong>Operating Deficits</strong> to the extent required by Section 6.3, provided that the General Partner will obtain the Consent of the Special Limited Partner to any withdrawals.", "The Administrative General Partner will not withdraw funds from the <strong>Operating Deficit</strong> Account established pursuant to Article VIII until it has fully met its obligations under this Section 6.3, unless Consent of the Special Limited Partner has been granted, which Consent shall be granted or denied in the sole discretion of the Special Limited Partner.", "The General Partner shall not be reimbursed if the Administrative General Partner is obligated to pay the same as an <strong>Operating Deficit</strong> during the <strong>Operating Deficit</strong> Guarantee Period, or by operation of law in accordance with the Act, or in accordance with this Agreement, or subject to the limitations on the reimbursement of such expenses set forth herein in which case the Administrative General Partner shall be responsible for payment of the expense.", "If there is an Affiliated Management Agent and there is an <strong>Operating Deficit</strong> following the termination of the <strong>Operating Deficit</strong> Guarantee Period or the depletion of the maximum <strong>Operating Deficit</strong> amount pursuant to Section 6.3, whichever occurs first, then 40% of the Management Fee will be deferred (\u201cDeferred Management Fees\u201d)."], "related": [["accumulated-funding-deficiency", "Accumulated Funding Deficiency", "Accumulated Funding Deficiency"], ["significant-deficiency", "Significant deficiency", "Significant deficiency"], ["adjusted-capital-account-deficit", "Adjusted Capital Account Deficit", "Adjusted Capital Account Deficit"], ["funding-default", "Funding Default", "Funding Default"], ["mental-deficiency", "Mental deficiency", "Mental deficiency"]], "related_snippets": [], "updated": "2025-07-24T04:27:56+00:00"}, "json": true, "cursor": ""}}