Common use of General Partner or Affiliates Dealing with Partnership Clause in Contracts

General Partner or Affiliates Dealing with Partnership. (a) The General Partner or any Affiliate may act as Management Agent on such terms and conditions permitted by applicable regulations of the Lender and the Agency, and may receive compensation at the highest rates approved and permitted by the Lender or the Agency at any time; provided, however, that the Management Agent may not receive compensation in excess of that permitted by HUD and the Lender; provided, further, that notwithstanding the foregoing, the Management Agent may not receive compensation in excess of five percent (5%) of gross rental receipts received from tenants of the Apartment Complex without the prior approval of BCTC 94, Inc.