Common use of Application of Capital Contributions Clause in Contracts

Application of Capital Contributions. The Managing Partner shall deposit in the Production Partnership Account the Capital Contributions of the Limited Partnership and the Managing Partner and apply such Capital Contributions to the payment of Organization and Offering Costs and the Acquisitions and Operations Fee. The balance of such Capital Contributions shall be held in the Production Partnership Account to be applied to the payment of Property Acquisition Costs and, to the extent not payable out of Income or Investment Income, Operating Costs, General and Administrative Costs, Direct Administrative Costs and other Production Partnership costs; provided, however, that such funds may be temporarily invested prior to the payment of such costs in accordance with Section 9.3.

Application of Capital Contributions. The Managing Partner Partners shall deposit in the Production Partnership Account the Capital Contributions of the Limited Partnership and the Managing Partner Partners and apply such Capital Contributions to the payment of Organization and Offering Costs and the Acquisitions and Operations Management Fee. The balance of such Capital Contributions shall be held in the Production Partnership Account to be applied to the payment of Property Acquisition Costs and, to the extent not payable out of Income or Investment Income, Operating Costs, General and Administrative Costs, Direct Administrative Costs and other Production Partnership costs; provided, however, that such funds may be temporarily invested prior to the payment of such costs in accordance with Section 9.39.3 of this Agreement.