Return of Capital Contributions. No Partner shall be entitled to withdraw any part of its Capital Contribution or its Capital Account or to receive any distribution from the Partnership, except as specifically provided in this Agreement. Except as otherwise provided herein, there shall be no obligation to return to any Partner or withdrawn Partner any part of such Partner’s Capital Contribution for so long as the Partnership continues in existence.
Return of Capital Contributions. The Member agrees that if the Company does not have adequate assets to return the Capital Contributions, then the Member will not have any recourse against the Company.
Return of Capital Contributions. The Member shall not have the right to demand a return of all or any part of its Capital Contributions, and any return of the Capital Contributions of the Member shall be made solely from the assets of the Company and only in accordance with the terms of this Agreement. No interest shall be paid to the Member with respect to its Capital Contributions.
Return of Capital Contributions. Except as otherwise provided in this Agreement, no Interest Holder shall have the right to receive the return of any Capital Contribution.
Return of Capital Contributions. Except as otherwise provided in this Agreement, no Member shall have the right to receive the return of any Capital Contribution.
Return of Capital Contributions. Except as otherwise provided herein or in the Act, no Member shall have the right to withdraw, or receive any return of, all or any portion of such Member’s Capital Contribution.
Return of Capital Contributions. A Member is not entitled to the return of any part of its Capital Contributions or to be paid interest in respect of either its Capital Account or its Capital Contributions. An unrepaid Capital Contribution is not a liability of the Company or of any Member. A Member is not required to contribute or to lend any cash or property to the Company to enable the Company to return any Member’s Capital Contributions.
Return of Capital Contributions. Capital Contributions shall be expended in furtherance of the business of the Company. All costs and expenses of the Company shall be paid from its funds. No interest shall be paid on capital contributions. The Manager shall not have any individual liability for the repayment of any Capital Contribution to any Member. Except as otherwise expressly provided in this Agreement, no portion of the capital of the Company may be withdrawn at any time without the express written consent of the Manager.
Return of Capital Contributions. (a) Failure to Achieve Development and/or Tax Credit Benchmarks and Standards. If (i) the buildings comprising the Apartment Complex are not placed in service prior to January 31, 1997 (or any later date fixed by the General Partners with the Consent of the Investment Limited Partner) or (ii) by December 31, 1997 (or any later date fixed by the General Partners with the Consent of the Investment Limited Partner) less than 100% of the Low-Income Apartment Units shall have been occupied by Qualified Tenants, or (iii) Permanent Mortgage Commencement shall not have occurred prior to March 1, 1997 (or any later date fixed by the General Partners with the Consent of the Investment Limited Partner), or (iv) State Designation shall not have occurred by July 1, 1997 (or any later date fixed by the General Partners with the Consent of the Investment Limited Partner), or (v) the Partnership shall fail to meet the Minimum Set- Aside Test or the Rent Restriction Test by the close of the first year of the Credit Period and/or fails to continue to meet either of those Tests at any time during the sixty (60)-month period commencing on such date, or (vi) prior to Permanent Mortgage Commencement, (a) foreclosure proceedings shall have commenced under the Construction Mortgage and such proceedings shall not have been dismissed within sixty (60) days, (b) any of the commitments of the Permanent Lender to provide the Permanent Mortgage financing shall be terminated or withdrawn and not reinstated or replaced within ninety (90) days with terms equal or more favorable to the Investment Limited Partner or terms for which the Consent of the Investment Limited Partner and (if required) the approval of the Permanent Lender shall have been obtained or (c) the Construction Lender shall have irrevocably refused to make any further advances under the Construction Mortgage and such decision shall not have been reversed or the Construction Lender replaced within sixty (60) days, or (vii) after Permanent Mortgage Commencement, (a) foreclosure proceedings shall have commenced and such proceedings shall not have been dismissed within thirty (30) days, (b) the commitments of Permanent Lender to provide the Permanent Mortgage and/or any subsidy financing shall be terminated or withdrawn and not reinstated or replaced within sixty (60) days with terms equally or more favorable to the Investment Limited Partner or terms for which the Consent of the Investment Limited Partner and (if required) th...
Return of Capital Contributions. Except as otherwise provided in this Agreement, the Member shall be entitled to a return of its Capital Contributions only upon the dissolution and winding up of the Company as provided in Section 7.
