Common use of Distribution of Net Operating Income Clause in Contracts

Distribution of Net Operating Income. Except as otherwise provided, Net Operating Income for each fiscal year shall be distributed within seventy-five (75) days following each calendar year and shall be applied in the following order of priority: (a) to pay the Deferred Management Fee, if any; (b) to pay the current Asset Management Fee and then to pay any accrued Asset Management Fees which have not been paid in full from previous years; (c) to pay the Development Fee; (d) to pay the Operating Loans, if any, as referenced in Section 6.3 of this Agreement, limited to 50% of the Net Operating Income remaining after reduction for the payments made pursuant to subsections (a) through (c) of this Section 11.1; (e) to pay the Incentive Management Fee; (f) to pay the Tax Credit Compliance Fee; and (g) the balance, 20% to the Limited Partner and 80% to the General Partner.

Distribution of Net Operating Income. Except as otherwise provided, Net Operating Income for each fiscal year shall be distributed within seventy-five (75) days following each calendar year and shall be applied in the following order of priority: (a) to pay the Deferred Management Fee, if any; (b) to pay the current Asset Management Reporting Fee and then to pay any accrued Asset Management Reporting Fees which have not been paid in full from previous years; (c) to pay the Development Fee; (d) to pay the Operating Loans, if any, as referenced in Section 6.3 of this Agreement, limited to 50% of the Net Operating Income remaining after reduction for the payments made pursuant to subsections (a) through (c) of this Section 11.1; (e) to pay the Incentive Management Fee; (f) to pay the Tax Credit Compliance Fee; and (g) the balance, 2030% to the Limited Partner and 8070% to the General Partner.

Distribution of Net Operating Income. Except as otherwise providedprovided and subject to the terms of the HAP Contract, Net Operating Income for each fiscal year shall be distributed within seventy-five (75) days following each calendar year and shall be applied in the following order of priority: (a) to pay the Deferred Management Fee, if any; (b) to pay the current Asset Management Reporting Fee and then to pay any accrued Asset Management Reporting Fees which have not been paid in full from previous years; (c) to pay the Development Fee; (d) to pay the Operating Loans, if any, as referenced in Section 6.3 of this Agreement, limited to 50% of the Net Operating Income remaining after reduction for the payments made pursuant to subsections (a) through (c) of this Section 11.1; (e) to pay the Incentive Management Fee; (f) to pay the Tax Credit Compliance Fee; and (g) the balance, 2030% to the Limited Partner and 8070% to the General Partner.

Distribution of Net Operating Income. Except as otherwise provided, Net Operating Income for each fiscal year shall be distributed within seventy-five (75) days following each calendar year and shall be applied in the following order of priority: (a) to pay the Deferred Management Fee, if any; (b) to pay the balance of the current Asset Management Fee and then to pay any accrued Asset Management Fees which have not been paid in full from previous years; (c) to pay the principal then interest on the Development Fee; (d) to pay the Operating Loans, if any, as referenced in Section 6.3 of this Agreement, limited to 50100% of the Net Operating Income remaining after reduction for the payments made pursuant to subsections (a) through (c) of this Section 11.1; (e) to pay the Incentive Management FeeManagement; (f) to pay the Tax Credit Compliance Fee; and (g) the balance, 2025% to the Limited Partner and 8075% to the General Partner.

Distribution of Net Operating Income. Except as otherwise providedprovided and subject to the requirements of RD regarding Partnership distributions, Net Operating Income for each fiscal year shall be distributed within seventy-five (75) 75 days following each calendar year and shall be applied in the following order of priority: (a) to pay the Deferred Management Fee, if any; (b) to pay the current Asset Management Fee and then to pay any accrued Asset Management Fees which have not been paid in full from previous years; (c) to pay the Development Fee; (d) to pay the Operating Loans, if any, as referenced in Section 6.3 of this Agreement, limited to 50% of the Net Operating Income remaining after reduction for the payments made pursuant to subsections (a) through (c) of this Section 11.1; (e) to pay the Incentive Management Fee; (f) to pay the Tax Credit Compliance Fee; and (g) the balance, 2029.99% to the Limited Partner Partner, 0.01% to the Special Limited Partner, and 8070% to the General Partner.

Distribution of Net Operating Income. Except as otherwise provided, Net Operating Income for each fiscal year shall be distributed within seventy-five (75) days following each calendar year and shall be applied in the following order of priority: (a) to pay the Deferred Management Fee, if any; (b) to pay the current Asset Management Reporting Fee and then to pay any accrued Asset Management Reporting Fees which have not been paid in full from previous years; (c) to pay the Development Fee; (d) to pay the Operating Loans, if any, as referenced in Section 6.3 of this Agreement, limited to 50% of the Net Operating Income remaining after reduction for the payments made pursuant to subsections (a) through (c) of this Section 11.1;; and (e) to pay the Incentive Management Fee; (f) to pay the Tax Credit Compliance Fee; and (g) the balance, 2030% to the Limited Partner and 8070% to the General Partner.

Distribution of Net Operating Income. Except as otherwise provided, Net Operating Income for each fiscal year shall be distributed within seventy-five (75) days following each calendar year and shall be applied in the following order of priority: (a) to pay the Deferred Management Fee, if any; (b) to pay the current Asset Management Reporting Fee and then to pay any accrued Asset Management Reporting Fees which have not been paid in full from previous years; (c) to pay the Development Fee; (d) to pay the Operating Loans, if any, as referenced in Section 6.3 of this Agreement, limited to 50% of the Net Operating Income remaining after reduction for the payments made pursuant to subsections (a) through (c) of this Section 11.1; (e) to pay the Incentive Management Fee; (f) to pay the Tax Credit Compliance Fee; and (g) the balance, 2029.99% to the Limited Partner, 0.01% to the Special Limited Partner and 8070% to the General Partner.

Distribution of Net Operating Income. Except as otherwise provided, Net Operating Income for each fiscal year shall be distributed within seventy-five (75) days following each calendar year and shall be applied in the following order of priority: (a) to pay the Deferred Management Fee, if any; (b) to pay the current Asset Management Reporting Fee and then to pay any accrued Asset Management Reporting Fees which have not been paid in full from previous years; (c) to pay the Development Fee; (d) to pay the Operating Loans, if any, as referenced in Section 6.3 of this Agreement, limited to 50% of the Net Operating Income remaining after reduction for the payments made pursuant to subsections (a) through (c) of this Section 11.1; (e) to pay the Incentive Management Fee;; and (f) to pay the Tax Credit Compliance Fee; and (g) the balance, 2050% to the Limited Partner and 8050% to the General Partner.

Distribution of Net Operating Income. Except as otherwise provided, Net Operating Income for each fiscal year shall be distributed within seventy-five (75) days following each calendar year and shall be applied in the following order of priority: (a) to pay the Deferred Management Fee, if any; (b) to pay the current Asset Management Reporting Fee and then to pay any accrued Asset Management Reporting Fees which have not been paid in full from previous years; (b) to pay the Deferred Management Fee, if any; (c) to pay the interest and then principal on the Development Fee; (d) to pay the Operating Loans, if any, as referenced in Section 6.3 of this Agreement, limited to 50% of the Net Operating Income remaining after reduction for the payments made pursuant to subsections (a) through (c) of this Section 11.1; (e) to pay the Incentive Management Fee;; and (f) to pay the Tax Credit Compliance Fee; and (g) the balance, 2030% to the Limited Partner and 8070% to the General Partner.

Distribution of Net Operating Income. Except as otherwise provided, Net Operating Income for each fiscal year shall be distributed within seventy-five (75) days following each calendar year and shall be applied in the following order of priority: (a) to pay the Deferred Management Fee, if any; (b) to pay the current Asset Management Reporting Fee and then to pay any accrued Asset Management Reporting Fees which have not been paid in full from previous years; (c) to pay the Development Fee; (d) to pay the Operating Loans, if any, as referenced in Section 6.3 of this Agreement, limited to 50% of the Net Operating Income remaining after reduction for the payments made pursuant to subsections (a) through (c) of this Section 11.1;; and (e) to pay the Incentive Management Fee; (f) to pay the Tax Credit Compliance Fee; and (g) the balance, 2099% to the Limited Partner and 801% to the General Partner.

Distribution of Net Operating Income. Except as otherwise provided, Net Operating Income for each fiscal year shall be distributed within seventy-five (75) days following each calendar year and shall be applied in the following order of priority: (a) to pay the Deferred Management Fee, if any; (b) to pay the current Asset Management Reporting Fee and then to pay any accrued Asset Management Reporting Fees which have not been paid in full from previous years; (c) to pay the Development Fee; (d) to pay the Operating Loans, if any, as referenced in Section 6.3 of this Agreement, limited to 50% of the Net Operating Income remaining after reduction for the payments made pursuant to subsections (a) through (c) of this Section 11.1; (e) to pay the Incentive Management Fee; (f) to pay the Tax Credit Compliance Fee; and (g) the balance, 20% to the Limited Partner and 80% to the General Partner.

Distribution of Net Operating Income. Except as otherwise provided, Net Operating Income for each fiscal year shall be distributed within seventy-five (75) 75 days following each calendar year and shall be applied in the following order of priority: (a) to pay the Deferred Management Fee, if any; (b) to pay the balance of the current Asset Management Fee that was not paid monthly and then to pay any accrued Asset Management Fees which have not been paid in full from previous years; (c) to pay the principal and then interest on the Development Fee; (d) to pay the Operating Loans, if any, as referenced in Section 6.3 of this Agreement, limited to 50% of the Net Operating Income remaining after reduction for the payments made pursuant to subsections (a) through (c) of this Section 11.1; (e) to pay the Incentive Management Fee; (f) to pay the Tax Credit Compliance Fee; and (g) the balance, 2029.99% to the Limited Partner, 0.01% to the Special Limited Partner and 8070% to the General Partner.