Withholding of Fee Payments. In the event that (a) a General Partner or any successor General Partner or the general partner of any Affiliated Limited Partnership shall not have substantially complied with any material provisions under this Agreement or the applicable limited partnership agreement, or (b) any financing commitment of any lender, or any agreement entered into by the Partnership for financing related to the Apartment Complex or the property of any Affiliated Limited Partnership shall have terminated prior to their respective termination date(s), or (c) foreclosure proceedings shall have been commenced against the Apartment Complex or the property of such Affiliated Limited Partnership, then (i) such General Partner shall be in default of this Agreement, and the Partnership shall withhold payment of any installment of fees payable pursuant to Sections 8.10 and 8.11, and (ii) the General Partner shall be liable for the Partnership's payment of any and all installments of the Development Fee payable pursuant to Section 8.10, to the extent that the Investment Partnership has withheld any Installment(s) pursuant to Section 5.03 as a result of the above-described default. All amounts so withheld by the Partnership under this Section 8.12 shall be promptly released only after the General Partner has cured the default justifying the withholding, as demonstrated by evidence reasonably acceptable to the Investment Partnership.
Withholding of Fee Payments. In the event that (a) a General Partner or any successor General Partner shall not have substantially complied with any material provisions under this Agreement or the applicable limited partnership agreement, or (b) any financing commitment of any lender, or any agreement entered into by the Partnership for financing related to the Apartment Complex shall have terminated prior to their respective termination date(s), or (c) foreclosure proceedings shall have been commenced against the Apartment Complex then (i) such General Partner shall be in default of this Agreement, and the Partnership shall withhold payment of any installment of fees payable pursuant to Sections 8.10 and 8.11, and (ii) the General Partner shall be liable for the Partnership's payment of any and all installments of the Development Fee payable pursuant to Section 8.10, to the extent that the Investment Partnership has withheld any Installment(s) pursuant to Section 5.03 as a result of the above-described default. All amounts so withheld by the Partnership under this Section 8.12 shall be promptly released only after the General Partner has cured the default justifying the withholding, as demonstrated by evidence reasonably acceptable to the Investment Partnership.
Withholding of Fee Payments. In the event of a default described in Section 5.03, the Partnership, at the sole election of the Investment Corporation, shall withhold payment of any installment of the Development Services Fee. Any installment so withheld shall be promptly released to the Developer upon a determination or final arbitration decision pursuant to Section 5.03(b) that such default has been substantially cured. Any interest earned thereon shall be paid pursuant to Section 5.03(b).
Withholding of Fee Payments. If (a) a Conversion Event has occurred or the Wichita GP has failed to comply with the reporting requirements set forth in Section 12.5 of this Agreement, (b) a Project Lender has declared the Partnership to be in default under the related Project Loan, or (c) foreclosure proceedings have been commenced against the Apartment Complex, then Wichita GP shall be in default of this Agreement, and the Partnership shall withhold payment of fees to Wichita GP, and Wichita GP shall be liable for the Partnership's payment of any and all installments of the Development Fee payable pursuant to the Development Agreement. All amounts so withheld by the Partnership under this Section 6.12 shall be promptly released to the payees thereof only after Wichita GP has cured or caused to be cured such default, as demonstrated by evidence reasonably acceptable to AHF.
Withholding of Fee Payments. In the event that (a) the General Partner or any successor General Partner shall not have substantially complied with any material provisions under this Agreement, or (b) any financing commitment of the First Mortgage Lender, the Second Mortgage Lender or any other lender, or any agreement entered into by the Partnership for financing related to the Apartment Complex shall have terminated prior to their respective termination date(s), or (c) foreclosure proceedings shall have been commenced against the Apartment Complex, then (i) the General Partner shall be in default of this Agreement, and the Partnership shall withhold payment of any installment of fees payable to the General Partner pursuant to Sections 8.10 and/or 8.11, and (ii) the General Partner shall be liable for the Partnership's payment of any and all installments of the unpaid Development Fee payable pursuant to Section 8.10. All amounts so withheld by the Partnership under this Section 8.12 shall be promptly released to the General Partner only after the General Partner has cured the default justifying the withholding, as demonstrated by evidence reasonably acceptable to BCTC 94. 8.13. Removal of the General Partner.
(a) BCTC 94, acting on behalf of the Investment Partnership, so long as the Investment Partnership is a Partner, shall have the right to remove a General Partner (i) for any intentional misconduct or failure to exercise reasonable care with respect to any material matter in the discharge of its duties and obligations as a General Partner (provided that such violation results in, or is likely to result in, a material detriment to or an impairment of the Apartment Complex or assets of the Partnership), or (ii) upon the occurrence of any of the following: (A) the General Partner shall have violated any provisions of the Regulatory Agreement, or any provisions of any other Project Document or other document required in connection with the First Mortgage Loan or the Second Mortgage Loan, or any provisions of Agency regulations applicable to the Apartment Complex; (B) the General Partner shall have violated any provision of this Agreement, or violated any provision of applicable law;
Withholding of Fee Payments. In the event that (a) the General Partner or any successor General Partner shall not have substantially complied with any material provisions under this Agreement, or (b) any financing commitment of the Lender, the Second Lender, or any other lender, or any agreement entered into by the Partnership for financing related to the Apartment Complex shall have terminated prior to their respective termination date(s), or (c) foreclosure proceedings shall have been commenced against the Apartment Complex, then (i) the General Partner shall be in default of this Agreement, and the Partnership shall withhold payment of any installment of fees payable to the Developer, pursuant to Section 8.10, and to the General Partner, pursuant to Section 8.11, and (ii) the General Partner shall be liable for the Partnership's payment of any and all installments of the Development Fee payable pursuant to Section 8.10, to the extent that the Investment Partnership has withheld any Installment(s) pursuant to Section 5.03 as a result of the above-described default. All amounts so withheld by the Partnership under this Sec- tion 8.12 shall be promptly released only after the General Partner has cured the default justifying the withholding, as demonstrated by evidence reasonably acceptable to BCTC 94.
Withholding of Fee Payments. In the event that (a) a Member-Manager or any successor Member-Manager shall not have substantially complied with any material provisions under this Agreement, or (b) any financing commitment of any lender, or any agreement entered into by the Company for financing related to the Apartment Complex shall have terminated prior to their respective termination date(s), or (c) foreclosure proceedings shall have been commenced against the Apartment Complex then (i) such Member-Manager shall be in default of this Agreement, and the Company shall withhold payment of any installment or fees payable pursuant to Sections 9.10, 9.11 and 9.05, and (ii) the Member-Manager shall be liable for the Company's payment of any and all installments or payments of either the Incentive Company Management Fee or the Property Management Fee payable pursuant to Sections 9.11 and 9.05, respectively, to the extent that the Investment Member has withheld any Installment(s) pursuant to Section 6.03 as a result of the above-described default. All amounts so withheld by the Company under this Section 9.12 shall be promptly released only after the Member-Manager has cured the default justifying the withholding, as demonstrated by evidence reasonably acceptable to the Investment Member.
Withholding of Fee Payments. Without limitation on any other provision in this Agreement, in the event that (i) the Managing Member has not substantially complied with any material provisions of this Agreement, or (ii) foreclosure proceedings have been commenced against the Property, or (iii) any of the events specified in subparagraphs (i), or (ii) immediately above have occurred with respect to any Affiliate of the Managing Member in which the Investor Member is an investor, then the Managing Member shall be in default of this Agreement. The Managing Member shall have thirty (30) days after the occurrence of any of the conditions set forth in Section 8.12(i) through (iii) above to cure any such default.
Withholding of Fee Payments. In the event that (i) the Project Manager shall not have substantially complied with any material provisions under this Agreement, or (ii) any construction financing commitment, or any agreement entered into by the Company for construction financing related to the Project shall have terminated prior to its respective termination date(s), or (iii) foreclosure proceedings shall have been commenced against the Project by a Bond Lender, then the Project Manager shall be in default of this Agreement, and the Company shall withhold payment of any installment of the fee not yet earned by the Project Manager. All amounts so withheld by the Company shall be promptly released to the Project Manager only after cures of the default justifying the withholding, as demonstrated by evidence reasonably acceptable to the Company.
Withholding of Fee Payments. (a) Without limitation on any other provision in this Agreement, upon the occurrence of any of the events described in Section 5.4, then the Managing Member shall be in default of this Agreement, and the Company shall withhold payment of any amounts otherwise payable to it hereunder including, without limitation, any distributions of Net Cash Flow or proceeds from a Capital Transaction, until such time as such default shall have been cured; provided, however, if a payment of all or any portion of such amounts then otherwise due would cure the event justifying the withholding, then the Company shall pay such amounts otherwise payable if it is applied to cure such event.
(b) All amounts so withheld by the Company under this Section 8.11 shall be promptly released to the payees thereof only after the Managing Member has cured the default justifying the withholding.
