Federal [and/or State] Low-Income Credit Adjuster Sample Clauses

Federal [and/or State] Low-Income Credit Adjuster. If there is a Downward Completion Differential respecting a Federal Low-Income Credit [and/or a State Low-Income Credit] established by the Cost Certification and as set forth on IRS Form 8609 (it being the intent of the parties that this adjustment shall be made upon receipt of all IRS Forms 8609 [and all applicable State Low- Income Credit certifications] with respect to the Project and prior any other adjustments under this Section 3.3), then the Capital Contributions of the Limited Partner shall be reduced by an amount equal to [the sum of (i) the Downward Completion Differential for the Federal Low-Income Credits multiplied by $[TBD] plus; (ii) the Downward Completion Differential for the State Low- Income Credits multiplied by $[TBD]; (a “Completion Adjustment Amount”);
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Federal [and/or State] Low-Income Credit Adjuster. The Credits at Completion respecting a Federal Low-Income Credit [and/or a State Low-Income Credit] shall be established by the Cost Certification and as set forth on IRS Form 8609 [and the applicable State Low-Income Credit allocation certification] (it being the intent of the parties that this adjustment shall be made upon receipt of all IRS Forms 8609 with respect to the Project) [and all applicable State Low-Income Credit allocation certifications];

Related to Federal [and/or State] Low-Income Credit Adjuster

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