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 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 not to exceed the amount set forth in Exhibit B to the Development Fee Agreement; (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, 24.99% to the Limited Partner, 0.01% to the Special Limited Partner and 75% to the General Partner.

Distribution of Net Operating Income. Except as otherwise provided, Net Operating Income for each fiscal year shall be distributed within 75 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 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 not to exceed the amount set forth in Exhibit B to the Development Fee Agreement; (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, 24.9914.99% to the Limited Partner, 0.01.01% to the Special Limited Partner and 7585% to the General Partner.

Distribution of Net Operating Income. Except as otherwise provided, Net Operating Income for each fiscal year shall be distributed within 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 not to exceed the amount set forth in Exhibit B to the Development Fee Agreement; (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, 24.9919.99% to the Limited Partner, 0.01% to the Special Limited Partner and 7580% 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 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 any amount owed to the principal and then interest on the Development Fee not Limited Partner pursuant to exceed Section 14.2(b) that is above the amount set forth in Exhibit B to the Development Fee AgreementRD allows paid as a Cash Expense; (d) to pay any unpaid Development Fee; (e) 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) of the balance, 24.999.99% shall be paid to the Limited Partner, 0.01% shall be paid to the Special Limited Partner Partner, and 7590% shall be paid as follows: 88.89% to pay the Incentive Management Fee and the Tax Credit Compliance Fee, and the balance following payment of such fees shall be paid to the General Partner.

Distribution of Net Operating Income. Except as otherwise provided, Net Operating Income for each fiscal year shall be distributed within 75 seventy-five (75) days following each calendar year and shall be applied in the following order of priority: (a) to pay the Deferred Management FeeFee (for the current fiscal year or any past fiscal years), 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 not to exceed the amount set forth in Exhibit B to the Development Fee AgreementFee; (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, 24.9920% to the Limited Partner, 0.01% to the Special Limited Partner and 7580% to the General Partner.

Distribution of Net Operating Income. Except as otherwise provided, Net Operating Income for each fiscal year shall be distributed within 75 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 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 not to exceed the amount set forth in Exhibit B to the Development Fee Agreement; (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, 24.9929.99% to the Limited Partner, 0.01.01% to the Special Limited Partner and 7570% to the General Partner.

Distribution of Net Operating Income. Except as otherwise provided, Net Operating Income for each fiscal year shall be distributed within 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 not to exceed the amount set forth in Exhibit B to the Development Fee AgreementFee; (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, 24.99% to the Limited Partner, 0.01% to the Special Limited Partner and 75% to the General PartnerPartners (in accordance with the General Partners Interests); provided, however, that the aggregate Net Operating Income distributed pursuant to this Section 11.1(g) shall not exceed $110,000 in any calendar year.

Distribution of Net Operating Income. Except as otherwise provided, Net Operating Income for each fiscal year shall be distributed within 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 interest and then interest principal on the Development Fee not to exceed the amount set forth in Exhibit B to the Development Fee AgreementFee; (d) to pay the interest and then principal on the Signature Holding Loan; (e) 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 (cd) 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, 24.999.99% shall be paid to the Limited Partner, 0.01% to the Special Limited Partner, 0.005% to the Class B Limited Partner and 7589.995% shall be paid as follows: 89.99% to pay the Incentive Management Fee and the Tax Credit Compliance Fee, and the balance following payment of such fees shall be paid to the General Partner.

Distribution of Net Operating Income. Except as otherwise provided, Net Operating Income for each fiscal year shall be distributed within 75 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 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 interest and then interest principal on the deferred Development Fee not to exceed the amount set forth in Exhibit B to the Development Fee AgreementFee; (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, 24.9930% to the Limited Partner, 0.01% to the Special Limited Partner and 7570% to the General Partner.

Distribution of Net Operating Income. Except as otherwise provided, Net Operating Income for each fiscal year shall be distributed within 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 not to exceed the amount set forth in Exhibit B to the Development Fee Agreement; (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, 24.99% to the Limited Partner, 0.01% to the Special Limited Partner and 75% to the General Partner.

Distribution of Net Operating Income. Except as otherwise provided, and subject to MHFA approval, Net Operating Income for each fiscal year shall be distributed within 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 not to exceed the amount set forth in Exhibit B to the Development Fee AgreementFee; (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, 24.99% to the Limited Partner, 0.01% to the Special Limited Partner and 75Partner, 0.001% to the General PartnerPartner Xxxxxxxx, 0.001% to the General Partner Xxxxxx, and 73.008% to the General Partner MSH, LLC.

Distribution of Net Operating Income. Except as otherwise provided, Net Operating Income for each fiscal year shall be distributed within 75 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 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 interest and then interest principal on the deferred Development Fee not to exceed the amount set forth in Exhibit B to the Development Fee AgreementFee; (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, 24.9930% to the Limited Partner, 0.01% to the Special Limited Partner and 7570% to the General Partner.

Distribution of Net Operating Income. Except as otherwise provided, Net Operating Income for each fiscal year shall be distributed within 75 days following at each calendar year and quarterand 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 not to exceed the amount set forth in Exhibit B to the Development Fee Agreement; (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, 24.999.99% to the Limited Partner, 0.01% to the Special Limited Partner and 7590% to the General Partner.