Common use of Reserve Fund for Replacements Clause in Contracts

Reserve Fund for Replacements. The Partnership shall establish a Reserve Fund for Replacements with respect to the Apartment Complex, as required by the Lender and BCTC 94, Inc. The Partnership shall make an initial deposit into the Reserve Fund for Replacements equal to $404,000 not later than the making of the First Installment and shall make subsequent deposits into the Reserve Fund for Replacements equal to $60,700 annually commencing in 1998; such deposits may be suspended only as approved by the Lender and/or BCTC 94, Inc. Funds in the Reserve Fund for Replacements are intended to be employed for the replacement as needed of fixtures, equipment, structural elements and other components of the Apartment Complex of a capital nature. All interest earnings on funds on deposit in the Reserve Fund for Replacements shall be retained therein for the aforesaid purposes. The Reserve Fund for Replacement shall remain under the joint control of the Lender and, until the expiration of the HAP Contract, HUD. Withdrawals from the Reserve Fund for Replacements shall be made only with the consent, or upon the direction, of the Lender and, if required, HUD; provided, however, if such consent of the Lender is not required, such withdrawals may be made only with the Consent, or upon the direction, of the General Partner and BCTC 94, Inc.

Reserve Fund for Replacements. The Partnership shall establish a Reserve Fund for Replacements with respect to the Apartment Complex, as required by the Lender and BCTC 94, Inc. The Partnership shall make an initial deposit into the Reserve Fund for Replacements equal to $404,000 16,000 not later than the making of the First Installment and shall make subsequent deposits into the Reserve Fund for Replacements equal to $60,700 15,200 annually commencing in 1998; such deposits may be suspended only as approved by the Lender and/or BCTC 94, Inc. Funds in the Reserve Fund for Replacements are intended to be employed for the replacement as needed of fixtures, equipment, structural elements and other components of the Apartment Complex of a capital nature. All interest earnings on funds on deposit in the Reserve Fund for Replacements shall be retained therein for the aforesaid purposes. The Reserve Fund for Replacement shall remain under the joint control of the Lender and, until the expiration of the HAP Contract, HUD. Withdrawals from the Reserve Fund for Replacements forReplacements shall be made only with the consent, or upon the direction, of the Lender theLender and, if required, HUD; provided, however, if such consent of the Lender is not required, such withdrawals may be made only with the Consent, or upon the direction, of the General Partner and BCTC 94, Inc.Inc. (b)

Reserve Fund for Replacements. The Partnership shall establish a Reserve Fund for Replacements with respect to the Apartment Complex, as required by the Lender and BCTC 94, Inc. The Partnership shall make an initial deposit into the Reserve Fund for Replacements equal to $404,000 not later than the making of the First Installment and shall make subsequent deposits into the Reserve Fund for Replacements equal to $60,700 15,000.00 annually commencing in 19981998 with a pro rata share to be paid for 1997 (the "Required Deposit"); such deposits may be suspended only as approved by the City Lender and/or or, as applicable as hereinafter stated BCTC 94, Inc. Funds in the Reserve Fund for Replacements are intended to be employed for the replacement as needed of fixtures, equipment, structural elements and other components of the Apartment Complex of a capital nature. All interest earnings on funds on deposit in the Reserve Fund for Replacements shall be retained therein for the aforesaid purposes. The Reserve Fund for Replacement shall remain under the joint control of the Lender andGeneral Partner and BCTC 94, until the expiration of the HAP Contract, HUD. Inc. Withdrawals from the Reserve Fund for Replacements shall be made only with the consent, or upon the direction, of the Lender and, if required, HUD; provided, however, if such consent of the Lender is not required, such withdrawals may be made only with the Consent, or upon the direction, of the General Partner and BCTC 94, Inc.Inc. (b)

Reserve Fund for Replacements. The Partnership shall establish a Reserve Fund for Replacements with respect to the Apartment Complex, as required by the Lender and BCTC 94, Inc. The Partnership shall make an initial deposit into the Reserve Fund for Replacements equal to $404,000 not later than the making of the First Installment and shall make subsequent deposits into the Reserve Fund for Replacements equal to $60,700 7,600.00 annually commencing in 19981998 with a pro rata share to be paid for 1997 (the "Required Deposit"); such deposits may be suspended only in any period during which such account has a balance of $76,000, as approved by the Lender and/or BCTC 94, Inc. Funds in the Reserve Fund for Replacements are intended to be employed for the replacement as needed of fixtures, equipment, structural elements and other components of the Apartment Complex of a capital nature. All interest earnings on funds on deposit in the Reserve Fund for Replacements shall be retained therein for the aforesaid purposes. The Reserve Fund for Replacement shall remain under the joint control of the Lender andGeneral Partner and BCTC 94, until the expiration of the HAP Contract, HUD. Inc. Withdrawals from the Reserve Fund for Replacements shall be made only with the consentConsent, or upon the direction, of the Lender and, if required, HUDLender; provided, however, if such consent Consent of the Lender is not required, such withdrawals may be made only with the Consent, or upon the direction, of the General Partner and BCTC 94, Inc.

Reserve Fund for Replacements. The Partnership shall establish a Reserve Fund for Replacements with respect to the Apartment Complex, as required by the Lender and BCTC 94, Inc. The Partnership shall make an initial deposit into the Reserve Fund for Replacements equal to $404,000 23,000 not later than the making of the First Installment and shall make subsequent deposits into the Reserve Fund for Replacements equal to $60,700 9,890 annually commencing in 1998; such deposits may be suspended only as approved by the Lender and/or BCTC 94, Inc. Funds in the Reserve Fund for Replacements are intended to be employed for the replacement as needed of fixtures, equipment, structural elements and other components of the Apartment Complex of a capital nature. All interest earnings on funds on deposit in the Reserve Fund for Replacements shall be retained therein for the aforesaid purposes. The Reserve Fund for Replacement shall remain under the joint control of the Lender and, until the expiration of the HAP Contract, HUD. Withdrawals from the Reserve Fund for Replacements shall be made only with the consent, or upon the direction, of the Lender and, if required, HUD; provided, however, if such consent of the Lender is not required, such withdrawals may be made only with the Consent, or upon the direction, of the General Partner and BCTC 94, Inc.Inc. (b)

Reserve Fund for Replacements. The Partnership shall establish a Reserve Fund for Replacements with respect to the Apartment Complex, as required by the Lender and BCTC 94, Inc. The Partnership shall make an initial deposit into the Reserve Fund for Replacements equal to $404,000 37,000 not later than the making of the First Installment and shall make subsequent deposits into the Reserve Fund for Replacements equal to $60,700 16,650 annually commencing in 1998; such deposits may be suspended only as approved by the Lender and/or BCTC 94, Inc. Funds in the Reserve Fund for Replacements are intended to be employed for the replacement as needed of fixtures, equipment, structural elements and other components of the Apartment Complex of a capital nature. All interest earnings on funds on deposit in the Reserve Fund for Replacements shall be retained therein for the aforesaid purposes. The Reserve Fund for Replacement shall remain under the joint control of the Lender and, until the expiration of the HAP Contract, HUD. Withdrawals from the Reserve Fund for Replacements shall be made only with the consent, or upon the direction, of the Lender and, if required, HUD; provided, however, if such consent of the Lender is not required, such withdrawals may be made only with the Consent, or upon the direction, of the General Partner and BCTC 94, Inc.

Reserve Fund for Replacements. The Partnership shall establish a Reserve Fund for Replacements with respect to the Apartment Complex, as required by the Lender and BCTC 94, Inc. The Partnership shall make an initial deposit into the Reserve Fund for Replacements equal to $404,000 25,000 not later than the making of the First Installment and shall make subsequent deposits into the Reserve Fund for Replacements equal to $60,700 48,900 annually commencing in 1998; such deposits may be suspended only as approved by the Lender and/or BCTC 94, Inc. Funds in the Reserve Fund for Replacements are intended to be employed for the replacement as needed of fixtures, equipment, structural elements and other components of the Apartment Complex of a capital nature. All interest earnings on funds on deposit in the Reserve Fund for Replacements shall be retained therein for the aforesaid purposes. The Reserve Fund for Replacement shall remain under the joint control of the Lender and, until the expiration of the HAP Contract, HUD. Withdrawals from the Reserve Fund for Replacements shall be made only with the consent, or upon the direction, of the Lender and, if required, HUD; provided, however, if such consent of the Lender is not required, such withdrawals may be made only with the Consent, or upon the direction, of the General Partner and Partner, BCTC 94, Inc.Inc. and the Lender.

Reserve Fund for Replacements. The Partnership shall establish a Reserve Fund for Replacements with respect to the Apartment Complex, as required by the Lender Lenders and BCTC 94BCCC, Inc. The Partnership shall make an initial deposit deposits into the Reserve Fund equal to $8,960 annually for so long as the balance in the Reserve Fund for Replacements equal to shall be less than $404,000 not later than 50,000 (the making of "Required Deposit") or such greater amount as shall be required by the First Installment and shall make subsequent deposits into the Reserve Fund for Replacements equal to $60,700 annually commencing in 1998Lenders; such deposits may be suspended only as approved by the Lender Lenders and/or BCTC 94BCCC, Inc. Funds in the Reserve Fund for Replacements are intended to be employed for the replacement as needed of fixtures, equipment, structural elements and other components of the Apartment Complex of a capital nature. All interest earnings on funds on deposit in the Reserve Fund for Replacements shall be retained therein for the aforesaid purposes. The Reserve Fund for Replacement shall remain under the joint control of the Lender and, until the expiration of the HAP Contract, HUD. Withdrawals from the Reserve Fund for Replacements shall be made only with the consentConsent, or upon the direction, of the Lender and, if required, HUDLenders; provided, however, if such consent Consent of the Lender Lenders is not required, such withdrawals may be made only with the Consent, or upon the direction, of the General Partner and BCTC 94BCCC, Inc.

Reserve Fund for Replacements. The Partnership shall establish a Reserve Fund for Replacements with respect to the Apartment Complex, as required by the Lender and BCTC 94, Inc. The Partnership shall make an initial deposit into the Reserve Fund for Replacements equal to $404,000 21,000 not later than the making of the First Installment and shall make subsequent deposits into the Reserve Fund for Replacements equal to $60,700 9,702 annually commencing in 1998; such deposits may be suspended only as approved by the Lender and/or BCTC 94, Inc. Funds in the Reserve Fund for Replacements are intended to be employed for the replacement as needed of fixtures, equipment, structural elements and other components of the Apartment Complex of a capital nature. All interest earnings on funds on deposit in the Reserve Fund for Replacements shall be retained therein for the aforesaid purposes. The Reserve Fund for Replacement shall remain under the joint control of the Lender and, until the expiration of the HAP Contract, HUD. Withdrawals from the Reserve Fund for Replacements shall be made only with the consent, or upon the direction, of the Lender and, if required, HUD; provided, however, if such consent of the Lender is not required, such withdrawals may be made only with the Consent, or upon the direction, of the General Partner and BCTC 94, Inc.

Reserve Fund for Replacements. The Partnership shall establish a Reserve Fund for Replacements with respect to the Apartment Complex, as required by the Lender and BCTC 94, Inc. The Partnership shall make an initial deposit into the Reserve Fund for Replacements equal to $404,000 not later than the making of the First Installment and shall make subsequent deposits into the Reserve Fund for Replacements equal to $60,700 4,200.00 annually commencing in 19981998 with a pro rata share to be paid for 1997 (the "Required Deposit"); such deposits may be suspended only in any period during which such account has a balance of $42,000, as approved by the Lender and/or BCTC 94, Inc. Funds in the Reserve Fund for Replacements are intended to be employed for the replacement as needed of fixtures, equipment, structural elements and other components of the Apartment Complex of a capital nature. All interest earnings on funds on deposit in the Reserve Fund for Replacements shall be retained therein for the aforesaid purposes. The Reserve Fund for Replacement shall remain under the joint control of the Lender andGeneral Partner and BCTC 94, until the expiration of the HAP Contract, HUD. Inc. Withdrawals from the Reserve Fund for Replacements shall be made only with the consentConsent, or upon the direction, of the Lender and, if required, HUDLender; provided, however, if such consent Consent of the Lender is not required, such withdrawals may be made only with the Consent, or upon the direction, of the General Partner and BCTC 94, Inc.