Common use of Withdrawal of General Partner Clause in Contracts

Withdrawal of General Partner. (a) The General Partner may not Withdraw (other than as a result of an Involuntary Withdrawal) without the Consent of the Special Limited Partner, and, to the extent required, of Rural Development. Withdrawal shall be conditioned upon the agreement of the Special Limited Partner to be admitted as a successor General Partner, or if the Special Limited Partner declines to be admitted as a successor General Partner then on the agreement of one or more Persons who satisfy the requirements of Section 13.5 of this Agreement to be admitted as successor General Partner(s).

Appears in 8 contracts

Samples: Amended and Restated Agreement (WNC Housing Tax Credit Fund Vi Lp Series 11), Amended and Restated Agreement (WNC Housing Tax Credit Fund Vi Lp Series 11), Certification and Agreement (WNC Housing Tax Credit Fund Vi Lp Series 10)

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Withdrawal of General Partner. (a) The General Partner may not Withdraw (other than as a result of an Involuntary Withdrawal) without the Consent of the Special Limited Partner, and, to the extent required, of Rural DevelopmentSouth Trust Bank National Association and the State Tax Credit Agency. Withdrawal shall be conditioned upon the agreement of the Special Limited Partner to be admitted as a successor General Partner, or if the Special Limited Partner declines to be admitted as a successor General Partner then on the agreement of one or more Persons who satisfy the requirements of Section 13.5 of this Agreement to be admitted as successor General Partner(s).

Appears in 4 contracts

Samples: Certification and Agreement (WNC Housing Tax Credit Fund Vi Lp Series 6), Certification and Agreement (WNC Housing Tax Credit Fund Vi Lp Series 6), Certification and Agreement (WNC Housing Tax Credit Fund Vi Lp Series 5)

Withdrawal of General Partner. (a) The General Partner may not Withdraw (other than as a result of an Involuntary Withdrawal) without the Consent of the Special Limited Partner, and, to the extent required, of Rural DevelopmentMissouri Housing Development Commission. Withdrawal shall be conditioned upon the agreement of the Special Limited Partner to be admitted as a successor General Partner, or if the Special Limited Partner declines to be admitted as a successor General Partner then on the agreement of one or more Persons who satisfy the requirements of Section 13.5 of this Agreement to be admitted as successor General Partner(s).

Appears in 2 contracts

Samples: Certification and Agreement (WNC Housing Tax Credit Fund Vi Lp Series 6), Development Fee Agreement (WNC Housing Tax Credit Fund Vi Lp Series 5)

Withdrawal of General Partner. (a) The General Partner may not Withdraw (other than as a result of an Involuntary Withdrawal) without the Consent of the Special Limited Partner, and, to the extent required, of Rural DevelopmentHome Savings of America, FSB and the State Tax Credit Agency. Withdrawal shall be conditioned upon the agreement of the Special Limited Partner to be admitted as a successor General Partner, or if the Special Limited Partner declines to be admitted as a successor General Partner then on the agreement of one or more Persons who satisfy the requirements of Section 13.5 of this Agreement to be admitted as successor General Partner(s).

Appears in 2 contracts

Samples: Agreement (WNC Housing Tax Credit Fund Vi Lp Series 5), Certification and Agreement (WNC Housing Tax Credit Fund Vi Lp Series 5)

Withdrawal of General Partner. (a) The General Partner may not Withdraw (other than as a result of an Involuntary Withdrawal) without the Consent of the Special Limited Partner, and, to the extent required, of Rural Development. Withdrawal shall be conditioned upon the agreement of the Special Limited Partner to be admitted as a successor General Partner, or if the Special Limited 50 Partner declines to be admitted as a successor General Partner then on the agreement of one or more Persons who satisfy the requirements of Section 13.5 of this Agreement to be admitted as successor General Partner(s). A new General Partner may not be admitted until the partnership has received the prior written consent of HUD.

Appears in 2 contracts

Samples: Certification and Agreement (WNC Housing Tax Credit Fund Vi Lp Series 9), Certification and Agreement (WNC Housing Tax Credit Fund Vi Lp Series 9)

Withdrawal of General Partner. (a) The General Partner may not Withdraw (other than as a result of an Involuntary Withdrawal) without the Consent of the Special Limited Partner, and, to the extent required, of Rural DevelopmentMissouri Housing Development Commission and the State Tax Credit Agency. Withdrawal shall be conditioned upon the agreement of the Special Limited Partner to be admitted as a successor General Partner, or if the Special Limited Partner declines to be admitted as a successor General Partner then on the agreement of one or more Persons who satisfy the requirements of Section 13.5 of this Agreement to be admitted as successor General Partner(s).

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 8)

Withdrawal of General Partner. (a) The General Partner may not Withdraw (other than as a result of an Involuntary Withdrawal) without the Consent of the Special Limited Partner, and, to the extent required, of Rural Developmentby the Mortgage lender and the State Tax Credit Agency. Withdrawal shall be conditioned upon the agreement of the Special Limited Partner to be admitted as a successor General Partner, or if the Special Limited Partner declines to be admitted as a successor General Partner then on the agreement of one or more Persons who satisfy the requirements of Section 13.5 of this Agreement to be admitted as successor General Partner(s).

Appears in 2 contracts

Samples: Certification and Agreement (WNC Housing Tax Credit Fund Vi Lp Series 8), Certification and Agreement (WNC Housing Tax Credit Fund Vi Lp Series 7)

Withdrawal of General Partner. (a) The General Partner may not Withdraw (other than as a result of an Involuntary Withdrawal) without the Consent of the Special Limited Partner, and, to the extent required, of Rural DevelopmentFmHA. Withdrawal shall be conditioned upon the agreement of the Special Limited Partner to be admitted as a successor General Partner, or if the Special Limited Partner declines to be admitted as a successor General Partner then on the agreement of one or more Persons who satisfy the requirements of Section 13.5 of this Agreement to be admitted as successor General Partner(s).

Appears in 2 contracts

Samples: Certification and Agreement (WNC Housing Tax Credit Fund Vi Lp Series 7), Certification and Agreement (WNC Housing Tax Credit Fund Vi Lp Series 9)

Withdrawal of General Partner. (a) The General Partner may not Withdraw (other than as a result of an Involuntary Withdrawal) without the Consent of the Special Limited Partner, and, to the extent required, of Rural Development. Withdrawal shall be conditioned upon the agreement of the Special Limited Partner to be admitted as a successor General Partner, or if the Special Limited Partner declines to be admitted as a successor General Partner then on the agreement of one or more Persons who satisfy the requirements of Section 13.5 of this Agreement to be admitted as successor General Partner(s). A new General Partner may not be admitted until the partnership has received the prior written consent of HUD.

Appears in 2 contracts

Samples: Certification and Agreement (WNC Housing Tax Credit Fund Vi Lp Series 7), Certification and Agreement (WNC Housing Tax Credit Fund Vi Lp Series 8)

Withdrawal of General Partner. (a) The General Partner may not Withdraw (other than as a result of an Involuntary Withdrawal) without the Consent of the Special Limited Partner, and, to the extent required, of Rural DevelopmentColonial Bank, Alabama Housing Finance Authority (HOME) and the State Tax Credit Agency. Withdrawal shall be conditioned upon the agreement of the Special Limited Partner to be admitted as a successor General Partner, or if the Special Limited Partner declines to be admitted as a successor General Partner then on the agreement of one or more Persons who satisfy the requirements of Section 13.5 of this Agreement to be admitted as successor General Partner(s).

Appears in 1 contract

Samples: Development Fee Agreement (WNC Housing Tax Credit Fund Vi Lp Series 6)

Withdrawal of General Partner. (a) The General Partner may not Withdraw (other than as a result of an Involuntary Withdrawal) without the Consent of the Special Limited Partner, and, to the extent required, of Rural Developmentk11 and the State Tax Credit Agency. Withdrawal shall be conditioned upon the agreement of the Special Limited Partner to be admitted as a successor General Partner, or if the Special Limited Partner declines to be admitted as a successor General Partner then on the agreement of one or more Persons who satisfy the requirements of Section 13.5 of this Agreement to be admitted as successor General Partner(s).

Appears in 1 contract

Samples: Operating Budget Agreement (WNC Housing Tax Credit Fund Vi Lp Series 5)

Withdrawal of General Partner. (a) The General Partner may not Withdraw (other than as a result of an Involuntary Withdrawal) without the Consent of the Special Limited Partner, and, to the extent required, of Rural DevelopmentMortgage lender, and the State Tax Credit Agency. Withdrawal shall be conditioned upon the agreement of the Special Limited Partner to be admitted as a successor General Partner, or if the Special Limited Partner declines to be admitted as a successor General Partner then on the agreement of one or more Persons who satisfy the requirements of Section 13.5 of this Agreement to be admitted as successor General Partner(s).

Appears in 1 contract

Samples: Development Fee Agreement (WNC Housing Tax Credit Fund Vi Lp Series 7)

Withdrawal of General Partner. (a) The General Partner may not Withdraw (other than as a result of an Involuntary Withdrawal) without the Consent of the Special Limited Partner, and, to the extent required, of Rural DevelopmentFmHA and Illinois Affordable Housing Trust Fund and the State Tax Credit Agency. Withdrawal shall be conditioned upon the agreement of the Special Limited Partner to be admitted as a successor General Partner, or if the Special Limited Partner declines to be admitted as a successor General Partner then on the agreement of one or more Persons who satisfy the requirements of Section 13.5 of this Agreement to be admitted as successor General Partner(s).

Appears in 1 contract

Samples: Certification and Agreement (WNC Housing Tax Credit Fund Vi Lp Series 6)

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Withdrawal of General Partner. (a) The General Partner may not Withdraw (other than as a result of an Involuntary Withdrawal) without the Consent of the Special Limited Partner, and, to the extent required, of Rural DevelopmentRegions Bank and the Alabama Housing Finance Authority (HOME). Withdrawal shall be conditioned upon the agreement of the Special Limited Partner to be admitted as a successor General Partner, or if the Special Limited Partner declines to be admitted as a successor General Partner then on the agreement of one or more Persons who satisfy the requirements of Section 13.5 of this Agreement to be admitted as successor General Partner(s).

Appears in 1 contract

Samples: Certification and Agreement (WNC Housing Tax Credit Fund Vi Lp Series 6)

Withdrawal of General Partner. (a) The General Partner may not Withdraw (other than as a result of an Involuntary Withdrawal) without the Consent of the Special Limited Partner, and, to the extent required, of Rural DevelopmentValley State Bank, and the State Tax Credit Agency. Withdrawal shall be conditioned upon the agreement of the Special Limited Partner to be admitted as a successor General Partner, or if the Special Limited Partner declines to be admitted as a successor General Partner then on the agreement of one or more Persons who satisfy the requirements of Section 13.5 of this Agreement to be admitted as successor General Partner(s).

Appears in 1 contract

Samples: Certification and Agreement (WNC Housing Tax Credit Fund Vi Lp Series 5)

Withdrawal of General Partner. (a) The General Partner may not Withdraw (other than as a result of an Involuntary Withdrawal) without the Consent of the Special Limited Partner, and, to the extent required, of Rural DevelopmentNot Applicable, Not Applicable and Not Applicable. Withdrawal shall be conditioned upon the agreement of the Special Limited Partner to be admitted as a successor General Partner, or if the Special Limited Partner declines to be admitted as a successor General Partner then on the agreement of one or more Persons who satisfy the requirements of Section 13.5 of this Agreement to be admitted as successor General Partner(s).

Appears in 1 contract

Samples: Certification and Agreement (WNC Housing Tax Credit Fund Vi Lp Series 7)

Withdrawal of General Partner. (a) The General Partner may not Withdraw (other than as a result of an Involuntary Withdrawal) without the Consent of the Special Limited Partner, and, to the extent required, of Rural DevelopmentFmHA and the State Tax Credit Agency. Withdrawal shall be conditioned upon the agreement of the Special Limited Partner to be admitted as a successor General Partner, or if the Special Limited Partner declines to be admitted as a successor General Partner then on the agreement of one or more Persons who satisfy the requirements of Section 13.5 of this Agreement to be admitted as successor General Partner(s).

Appears in 1 contract

Samples: Development Fee Agreement (WNC Housing Tax Credit Fund Vi Lp Series 6)

Withdrawal of General Partner. (a) The No General Partner may not Withdraw (other than as a result of an Involuntary Withdrawal) without the Consent of the Special Limited Partner, and, to the extent required, of Rural Development. Withdrawal shall be conditioned upon the agreement of the Special Limited Partner to be admitted as a successor General Partner, or if the Special Limited Partner declines to be admitted as a successor General Partner then on the agreement of one or more Persons who satisfy the requirements of Section 13.5 of this Agreement to be admitted as successor General Partner(s).Section

Appears in 1 contract

Samples: Guaranty Agreement

Withdrawal of General Partner. (a) The General Partner may not Withdraw (other than as a result of an Involuntary Withdrawal) without the Consent of the Special Limited Partner, and, to the extent required, of Rural DevelopmentColonial Bank and Alabama Housing Finance Authority. Withdrawal shall be conditioned upon the agreement of the Special Limited Partner to be admitted as a successor General Partner, or if the Special Limited Partner declines to be admitted as a successor General Partner then on the agreement of one or more Persons who satisfy the requirements of Section 13.5 of this Agreement to be admitted as successor General Partner(s).

Appears in 1 contract

Samples: Development Fee Agreement (WNC Housing Tax Credit Fund Vi Lp Series 6)

Withdrawal of General Partner. (a) The General Partner may not Withdraw (other than as a result of an Involuntary Withdrawal) without the Consent of the Class A Special Limited Partner, and, without the Consent of MHDC to the extent required, of Rural Developmentrequired by MHDC. Withdrawal shall be conditioned upon the agreement of the Class A Special Limited Partner to be admitted as a successor General Partner, or if the Class A Special Limited Partner declines to be admitted as a successor General Partner then on the agreement of one or more Persons who satisfy the requirements of Section 13.5 of this Agreement to be admitted as successor General Partner(s).

Appears in 1 contract

Samples: Certification and Agreement (WNC Housing Tax Credit Fund Vi Lp Series 6)

Withdrawal of General Partner. (a) The General Partner may not Withdraw (other than as a result of an Involuntary Withdrawal) without the Consent of the Special Limited Partner, and, to the extent required, of Rural DevelopmentFederal Trust Bank and the State Tax Credit Agency. Withdrawal shall be conditioned upon the agreement of the Special Limited Partner to be admitted as a successor General Partner, or if the Special Limited Partner declines to be admitted as a successor General Partner then on the agreement of one or more Persons who satisfy the requirements of Section 13.5 of this Agreement to be admitted as successor General Partner(s).

Appears in 1 contract

Samples: Certification and Agreement (WNC Housing Tax Credit Fund Vi Lp Series 5)

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