Return of Capital Contribution. From time to time the Partnership may have cash in excess of the amount required for the conduct of the affairs of the Partnership, and the General Partner may, with the Consent of the Special Limited Partner, determine that such cash should, in whole or in part, be returned to the Partners, pro rata, in reduction of their Capital Contribution. No such return shall be made unless all liabilities of the Partnership (except those to Partners on account of amounts credited to them pursuant to this Agreement) have been paid or there remain assets of the Partnership sufficient, in the sole discretion of the General Partner, to pay such liabilities.
Appears in 51 contracts
Samples: Certification and Agreement (WNC Housing Tax Credit Fund Vi Lp Series 10), Certification and Agreement (WNC Housing Tax Credit Fund Vi Lp Series 12), Certification and Agreement (WNC Housing Tax Credit Fund Vi Lp Series 7)
Return of Capital Contribution. From time to time the Partnership may have cash in excess of the amount required for the conduct of the affairs of the Partnership, and the General Partner may, with the Consent of the Special Limited Partner, determine that such cash should, in whole or in part, be returned to the Partners, pro rata, Limited Partner in reduction of their its Capital Contribution. No such return shall be made unless all liabilities of the Partnership (except those to Partners on account of amounts credited to them pursuant to this Agreement) have been paid or there remain assets of the Partnership sufficient, in the sole discretion of the General Partner, to pay such liabilities.
Appears in 5 contracts
Samples: Development Fee Agreement (WNC Housing Tax Credit Fund v Lp Series 4), Certification and Agreement (WNC Housing Tax Credit Fund v Lp Series 4), Development Fee Agreement (WNC Housing Tax Credit Fund Vi Lp Series 6)
Return of Capital Contribution. From time to time the Partnership may have cash in excess of the amount required for the conduct of the affairs of the Partnership, and the General Partner may, with the Consent of the Special Limited Partner, determine that such cash should, in whole or in part, be returned to the Partners, pro rata, in reduction of their Capital ContributionContributions. No such return shall be made unless all liabilities of the Partnership (except those to Partners on account of amounts credited to them pursuant to this Agreement) have been paid or there remain assets of the Partnership sufficient, in the sole discretion of the General Partner, to pay such liabilities.
Appears in 2 contracts
Samples: Development Fee Agreement (WNC Housing Tax Credit Fund Vi Lp Series 6), Certification and Agreement (WNC Housing Tax Credit Fund Vi Lp Series 5)
Return of Capital Contribution. From time to time the Partnership may have cash in excess of the amount required for the conduct of the affairs of the Partnership, and the General Partner may, with the Consent of the Special Limited Partnerin its sole discretion, determine that such cash should, in whole or in part, be returned to the Partners, pro rata, Limited Partner in reduction of their its Capital Contribution. Any Distribution to the Limited Partner pursuant to this Section 7.5, or pursuant to Section 7.4, shall be deemed to have been consented to by the Limited Partner. No such return shall be made unless all liabilities of the Partnership (except those to Partners on account of amounts credited to them pursuant to this Agreement) have been paid or there remain assets of the Partnership sufficient, in the sole discretion of the General Partner, to pay such liabilities.made:
Appears in 2 contracts
Samples: Certification and Agreement (WNC Housing Tax Credit Fund v Lp Series 4), WNC Housing Tax Credit Fund Vi Lp Series 5
Return of Capital Contribution. From time to time the Partnership may have cash in excess of the amount required for the conduct of the affairs of the Partnership, and the General Partner may, with the Consent of the Special Limited Partner, determine that such cash should, in whole or in part, be returned to the Partners, pro rata, in reduction of their Capital Contribution. No such return shall be made unless all liabilities of the Partnership (except those to Partners on account of amounts credited to them pursuant to this Agreement) have been paid or there remain assets of the Partnership sufficient, in the sole discretion of the General Partner, to pay such liabilities. Notwithstanding the foregoing, no distributions of cash may be made other than as provided in the RD Loan Agreement.
Appears in 2 contracts
Samples: Certification and Agreement (WNC Housing Tax Credit Fund VI, L.P., Series 13), Certification and Agreement (WNC Housing Tax Credit Fund VI, L.P., Series 13)
Return of Capital Contribution. From time to time the Partnership may have cash in excess of the amount required for the conduct of the affairs of the Partnership, and the General Partner may, with the Consent of the Special Limited PartnerPartner and subject to any applicable restrictions imposed by HUD, determine that such cash should, in whole or in part, be returned to the Partners, pro rata, in reduction of their Capital Contribution. No such return shall be made unless all liabilities of the Partnership (except those to Partners on account of amounts credited to them pursuant to this Agreement) have been paid or there remain assets of the Partnership sufficient, in the sole discretion of the General Partner, to pay such liabilities.
Appears in 2 contracts
Samples: Budget Agreement (WNC Housing Tax Credit Fund VI, L.P., Series 13), Budget Agreement (WNC Housing Tax Credit Fund VI, L.P., Series 13)
Return of Capital Contribution. From time to time the Partnership may have cash in excess of the amount required for the conduct of the affairs of the Partnership, and the General Partner may, with the Consent of the Class A Special Limited Partner, determine that such cash should, in whole or in part, be returned to the Partners, pro rata, in reduction of their Capital Contribution. No such return shall be made unless all liabilities of the Partnership (except those to Partners on account of amounts credited to them pursuant to this Agreement) have been paid or there remain assets of the Partnership sufficient, in the sole discretion of the General Partner, to pay such liabilities.
Appears in 1 contract
Samples: Certification and Agreement (WNC Housing Tax Credit Fund Vi Lp Series 6)
Return of Capital Contribution. From time to time the Partnership may have cash in excess of the amount required for the conduct of the affairs of the Partnership, and the Administrative General Partner may, with the Consent of the Special Limited Partner, determine that such cash should, in whole or in part, be returned to the Partners, pro rata, in reduction of their Capital Contribution. No such return shall be made unless all liabilities of the Partnership (except those to Partners on account of amounts credited to them pursuant to this Agreement) have been paid or there remain assets of the Partnership sufficient, in the sole discretion of the Administrative General Partner, to pay such liabilities.
Appears in 1 contract
Samples: Guaranty Agreement
Return of Capital Contribution. From time to time the Partnership may have cash in excess of the amount required for the conduct of the affairs of the Partnership, and the General Partner may, with the Consent of the Special Limited PartnerSLP Class A, determine that such cash should, in whole or in part, be returned to the Partners, pro rata, in reduction of their Capital ContributionContributions. No such return shall be made unless all liabilities of the Partnership (except those to Partners on account of amounts credited to them pursuant to this Agreement) have been paid or there remain assets of the Partnership sufficient, in the sole discretion of the General Partner, to pay such liabilities.
Appears in 1 contract
Samples: Development Fee Agreement (WNC Housing Tax Credit Fund Vi Lp Series 6)
Return of Capital Contribution. From time to time the Partnership may have cash in excess of the amount required for the conduct of the affairs of the Partnership, and the General Partner may, with the Consent of the Special Limited Partner, determine that such cash should, in whole or in part, be returned to the Partners, pro rata, Limited Partner in reduction of their its Capital Contribution. No such return shall be made unless all liabilities of the Partnership (except those to Partners on account of amounts credited to them pursuant to this Agreement) have been paid or there remain assets of the Partnership sufficient, in the sole discretion of the General Partner, to pay such liabilities.
Appears in 1 contract
Samples: Agreement (WNC Housing Tax Credit Fund Vi Lp Series 5)
Return of Capital Contribution. From time to time the Partnership may have cash in excess of the amount required for the conduct of the affairs of the Partnership, and the General Partner may, with the Consent of the Special Limited Partner, determine that such cash should, in whole or in part, be returned to the Partners, pro rata, in reduction of their Capital Contribution. No such return shall be made unless all liabilities of the Partnership (except those to Partners on account of amounts credited to them pursuant to this Agreement) have been paid or there remain assets of the Partnership sufficient, in the sole discretion of the General Partner, to pay such liabilities.Capital
Appears in 1 contract
Samples: Certification and Agreement (WNC Housing Tax Credit Fund Vi Lp Series 8)
Return of Capital Contribution. From time to time the Partnership may have cash in excess of the amount required for the conduct of the affairs of the Partnership, and the General Partner may, with the Consent of the Special Limited Partner, determine that such cash should, in whole or in part, be returned to the Partners, pro rata, in reduction of their Capital ContributionContributions. No such return shall be made unless all liabilities of the Partnership (except those to Partners on account of amounts credited to them pursuant to this Agreement) have been paid or there remain assets of the Partnership sufficient, in the sole discretion of the General Partner, to pay such liabilities.
Appears in 1 contract
Samples: Operating Budget Agreement (WNC Housing Tax Credit Fund Vi Lp Series 5)