Tax Credit Matters. From the date hereof through the completion of construction of the Apartment Housing, the Developer shall provide the following services to Owner with regard to the Tax Credits which services do not constitute the rendering of legal or tax advice:
(A) Developer shall consult with and advise Owner concerning construction issues that could affect the amount of Tax Credits for which the Apartment Housing is eligible.
(B) Developer shall consult with and advise Owner with respect to the requirements of the Department as they relate to the construction and development of the Apartment Housing.
(C) Developer shall monitor construction progress with respect to the Apartment Housing schedule agreed to with the Department, if any.
Tax Credit Matters. From the date hereof through the completion of construction of the Project, the Developer shall provide the following services to owner with regard to the Tax Credits which services do not constitute the rendering of legal or tax advice:
(A) Developer shall consult with and advise Owner concerning construction issues that could affect the amount of Tax Credits for which the Project is eligible.
(B) Developer shall consult with and advise Owner with respect to the requirements of the Department as they relate to the construction and development of the Project.
(C) Developer shall monitor construction progress with respect to the Project schedule agreed to with the Department, if any.
(D) Developer shall coordinate and participate in any conferences with the Department relating to the Project and construction matters.
Tax Credit Matters. Except as indicated on Schedule B, a Form 8609 has been issued by the applicable tax credit allocating agency with respect to each Mortgaged Property evidencing the final allocation of tax credits with respect thereto in an amount such that no adjustment to or repayment of any tax credit investor’s capital contribution is necessary, and all tax credit investor capital contributions have been fully funded to the Owner.
Tax Credit Matters. From the date hereof through the completion of construction of the Project, the Developer provided the following services to owner with regard to the Tax Credits which services did not constitute the rendering of legal or tax advice:
Tax Credit Matters. From the date hereof through the completion of construction of the Project, the Developer provided the following services to owner with regard to the Tax Credits which services did not constitute the rendering of legal or tax advice:
(A) Developer consulted with and advise Owner concerning construction issues that could affect the amount of Tax Credits for which the Project is eligible.
(B) Developer consulted with and advised Owner with respect to the requirements of the Department as they relate to the construction and development of the Project.
(C) Developer monitored construction progress with respect to the Project schedule agreed to with the Department, if any.
(D) Developer coordinated and participated in any conferences with the Department related to the Project and construction matters.
Tax Credit Matters. From the date hereof through the completion of rehabilitation of the Project, the Developer shall provide the following services to owner with regard to the Tax Credits which services do not constitute the rendering of legal or tax advice:
(A) Developer shall consult with and advise Owner concerning rehabilitation issues that could affect the amount of Tax Credits for which the Project is eligible.
(B) Developer shall consult with and advise Owner with respect to the requirements of the Department as they relate to the rehabilitation and development of the Project.
(C) Developer shall monitor rehabilitation progress with respect to the Project schedule agreed to with the Department, if any.
(D) Developer shall coordinate and participate in any conferences with the Department relating to the Project and rehabilitation matters.
Tax Credit Matters. Except as indicated on Schedule D, for all Mortgaged Properties that have achieved Stabilization, a Form 8609 has been issued by the applicable tax credit allocating agency with respect to each Mortgaged Property evidencing the final allocation of tax credits with respect thereto in an amount such that no adjustment to or repayment of any tax credit investor’s capital contribution is necessary, and all tax credit investor capital contributions have been fully funded to the Owner. For any such tax credit investor contributions not fully funded as indicated on Schedule D, the only remaining conditions to such full funding is Stabilization.
Tax Credit Matters. The Developer has provided the following services to owner with regard to the Tax Credits which services did not constitute the rendering of legal or tax advice:
(A) Developer has consulted with and advised Owner concerning construction issues that could have affected the amount of Tax Credits for which the Project is eligible.
(B) Developer has consulted with and advised Owner with respect to the requirements of the Department as they related to the construction and development of the Project.
(C) Developer has monitored construction progress with respect to the Project schedule agreed to with the Department, if any.
(D) Developer has coordinated and participated in any conferences with the Department relating to the Project and construction matters.
Tax Credit Matters. (a) Notwithstanding any provision of this Agreement or any Transaction Agreement to the contrary, the Manager shall not, and shall cause each of its Affiliates not to, cause or permit the Company or any Person acting on behalf of the Company to take any action that would result in, or refrain from taking any action reasonably within its control that is necessary to prevent, all or any portion of the production and sale of electricity by the Company failing to qualify for Tax Credits. For example, but without limitation, neither the Manager nor any of its Affiliates shall (i) cause or permit the Company or any Person acting on behalf of the Company to generate any electricity from, or otherwise operate, the Facility using as a fuel any material other than “open-loop biomass” (within the meaning of section 45(c)(3)(A)(ii) of the Code) or (ii) cause or permit the Company or any Person acting on behalf of the Company to sell any electricity generated by the Company to any Person who is a “related person” (within the meaning of section 45(e)(4) of the Code); provided, that neither the Manager nor any of its Affiliates shall be deemed in breach of this Section 8.10(a) by reason of any action which is due to general market conditions or refusal to act of any non-Affiliated Person. In the event of any nonfulfillment of or failure to comply with or perform the covenants contained in the preceding two sentences, then promptly upon delivery of notice of such nonfulfillment or failure by Investor to the Sponsor, the Sponsor shall pay to Investor, as liquidated damages and not a penalty, an amount equal to (x) $1.54 multiplied by the difference between (A) the dollar amount of Tax Credits that would have been allocated to Investor under this Agreement in the absence of such nonfulfillment or failure and (B) the dollar amount of Tax Credits actually allocated to Investor as a result of such nonfulfillment or failure plus (y) interest on the amount in clause (x) at a rate equal to the Prime Rate plus 200 basis points, from the date the Investor would have recognized the benefit of the Tax Credits that would have been allocated but for such nonfulfillment or failure, to the date of payment. No nonfulfillment of or failure to comply with or perform the covenants contained in the first two sentences of this Section 8.10(a) shall be cause for termination of the Manager pursuant to Section 8.3 unless such nonfulfillment or failure is due to fraud, willful misconduct, or gross...
Tax Credit Matters. The Developer provided the following services to Owner with regard to the Tax Credits which services did not constitute the rendering of legal or tax advice:
(A) Developer consulted with and advised Owner concerning construction issues that could affect the amount of Tax Credits for which the Apartment Housing is eligible.
(B) Developer consulted with and advised Owner with respect to the requirements of the Department as they relate to the construction and development of the Apartment Housing.
(C) Developer monitored construction progress with respect to the Apartment Housing schedule agreed to with the Department, if any.
