Common use of Late Reports Clause in Contracts

Late Reports. If the General Partner does not fulfill its obligations under Section 14.2 within the time periods set forth therein after receiving written notice of default by certified mail from the Special Limited Partner and after failing to cure such default within 7 days of receipt of such notice, the General Partner, using its own funds, shall pay as damages the sum of $100 per day (plus interest at the rate established by Section 6.3 of this Agreement) to the Limited Partner until such obligations shall have been fulfilled. If the General Partner does not fulfill its obligations under Section 14.3 within the time periods set forth therein, the General Partner, using its own funds, shall pay as damages the sum of $100.00 per week (plus interest at the rate established by Section 6.3 of this Agreement) to the Limited Partner until such obligations shall have been fulfilled. If the General Partner shall so fail to pay, the General Partner and its Affiliates shall forthwith cease to be entitled to any fees hereunder (other than the Development Fee) and/or to the payment of any Net Operating Income or Sale or Refinancing Proceeds to which the General Partner may otherwise be entitled hereunder. Payments of fees and Distributions shall be restored only upon payment of such damages in full.

Late Reports. If the General Partner does not fulfill its obligations under Section 14.2 within the time periods set forth therein after receiving written notice of default by certified mail from the Special Limited Partner and after failing to cure such default within 7 days of receipt of such noticetherein, the General Partner, using its own funds, shall pay as damages the sum of $100 per day (plus interest at the rate established by Section 6.3 of this Agreement) to the Limited Partner until such obligations shall have been fulfilled. If the General Partner does not fulfill its obligations under Section 14.3 within the time periods set forth therein, the General Partner, using its own funds, shall pay as damages the sum of $100.00 per week (plus interest at the rate established by Section 6.3 of this Agreement) to the Limited Partner until such obligations shall have been fulfilled. If Such damages shall be paid forthwith by the General Partner, and failure to so pay shall constitute a material default of the General Partner hereunder and cause for removal under Section 13.2 hereof. In addition, if the General Partner shall so fail to pay, the General Partner and its Affiliates shall forthwith cease to be entitled to any fees hereunder (other than the Development Fee) and/or to the payment of any Net Operating Income Cash Flow From Operations or Sale or Refinancing Proceeds to which the General Partner may otherwise be entitled hereunder. Payments of fees and Distributions shall be restored only upon payment of such damages in full.

Late Reports. If the General Partner does not fulfill its obligations under Section 14.2 within the time periods set forth therein therein, and after receiving ten (10) days written notice of default by certified mail from the Special Limited Partner and after failing to cure such default within 7 days of receipt of such noticePartner, the General Partner, using its own funds, shall pay as damages the sum of $100 per day (plus interest at the rate established by Section 6.3 of this Agreement) to the Limited Partner until such obligations shall have been fulfilled. If the General Partner does not fulfill its obligations under Section 14.3 within the time periods set forth therein, and after ten (10) days written notice from the Special Limited Partner, the General Partner, using its own funds, shall pay as damages the sum of $100.00 per week (plus interest at the rate established by Section 6.3 of this Agreement) to the Limited Partner until such obligations shall have been fulfilled. If the General Partner shall so fail to pay, the General Partner and its Affiliates shall forthwith cease to be entitled to any fees hereunder (other than the Development Fee) and/or to the payment of any Net Operating Income or Sale or Refinancing Proceeds to which the General Partner may otherwise be entitled hereunder. Payments of fees and Distributions shall be restored only upon payment of such damages in full.

Late Reports. If the General Partner does not fulfill its obligations under Section 14.2 within ten (10) days after the Special Limited Partner provides notice to the Administrative General Partner that the Special Limited Partner has not received the reports required by Section 14.2 within time periods set forth therein after receiving written notice of default by certified mail from the Special Limited Partner and after failing to cure such default within 7 days of receipt of such noticetherein, the Administrative General Partner, using its own funds, shall pay as damages the sum of $100 per day week (plus interest at the rate established by Section 6.3 6.4 of this Agreement) to the Limited Partner until such obligations shall have been fulfilled. If the General Partner does not fulfill its obligations under Section 14.3 within the time periods set forth therein, the Administrative General Partner, using its own funds, shall pay as damages the sum of $100.00 100 per week (plus interest at the rate established by Section 6.3 6.4 of this Agreement) to the Limited Partner until such obligations shall have been fulfilled. If the Administrative General Partner shall so fail to pay, the Administrative General Partner and its Affiliates shall forthwith cease to be entitled to any fees hereunder (other than the Development Fee) and/or to the payment of any Net Operating Income or Sale or Refinancing Proceeds to which the Administrative General Partner may otherwise be entitled hereunder. Payments of fees and Distributions shall be restored only upon payment of such damages in full.