As to Losses. (1) an amount of Losses equal to the aggregate positive balances (if any) in the Capital Accounts of all Partners having positive Capital Accounts (prior to taking into account the Sale or Refinancing and the Distribution of the related Sale or Refinancing Proceeds, but after giving effect to Distributions of Net Operating Income and allocations of Income and Losses pursuant to Section 10.1 up to the date of the Sale or Refinancing) shall be allocated to such Partners in proportion to their positive Capital Account balances until all such Capital Accounts shall have zero balances; and
Appears in 5 contracts
Samples: Development Fee Agreement (WNC Housing Tax Credit Fund Vi Lp Series 6), Development Fee Agreement (WNC Housing Tax Credit Fund Vi Lp Series 6), Certification and Agreement (WNC Housing Tax Credit Fund Vi Lp Series 5)
As to Losses. (1) an amount of Losses equal to the aggregate positive balances (if any) in the Capital Accounts of all Partners having positive Capital Accounts (prior to taking into account the Sale or Refinancing and the Distribution of the related Sale or Refinancing Proceeds, but after giving effect to Distributions of Net Operating Income Cash Flow From Operations and allocations of Income and Losses pursuant to Section 10.1 up to the date of the Sale or Refinancing) shall be allocated to such Partners in proportion to their positive Capital Account balances until all such Capital Accounts shall have zero balances; and
Appears in 1 contract
Samples: Agreement (WNC Housing Tax Credit Fund Vi Lp Series 5)
