Common use of Working Capital Loan Clause in Contracts

Working Capital Loan. In order to comply with Paragraph 5(a) of the FmHA Loan Agreement, the General Partners have advanced or will advance prior to the Permanent Mortgage Closing to the Partnership $29,600, which amount has been deposited by the Partnership in its general operating account (the "Working Capital Loan"). The Working Capital Loan shall not bear interest and shall be repaid (i) to the extent permitted by FmHA, out of the Partnership funds not required for other Partnership purposes, (ii) out of any funds which FmHA designates as a return to the Partnership of such deposit to the Partnership's general operating account or (iii) as set forth in Article X.

Appears in 1 contract

Samples: Boston Capital Tax Credit Fund Iv Lp

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Working Capital Loan. In order to comply with Paragraph 5(a) of the FmHA Loan Agreement, the General Partners have advanced or will advance prior to the Permanent Mortgage Closing to the Partnership $29,60065,000, which amount has been deposited by the Partnership in its general operating account (the "Working Capital Loan"). The Working Capital Loan shall not bear interest and shall be repaid (i) to the extent permitted by FmHA, out of the Partnership funds not required for other Partnership purposes, (ii) out of any funds which FmHA designates as a return to the Partnership of such deposit to the Partnership's general operating account or (iii) as set forth in Article X.

Appears in 1 contract

Samples: Boston Capital Tax Credit Fund Iv Lp

Working Capital Loan. In order to comply with Paragraph 5(a) of the FmHA Loan Agreement, the General Partners have advanced or will advance prior to the Permanent Mortgage Closing to the Partnership $29,60020,220, which amount has been deposited by the Partnership in its general operating account (the "Working Capital Loan"). The Working Capital Loan shall not bear interest and shall be repaid (i) to the extent permitted by FmHA, out of the Partnership funds not required for other Partnership purposes, (ii) out of any funds which FmHA designates as a return to the Partnership of such deposit to the Partnership's general operating account or (iii) as set forth in Article X.X, or (iv) as permitted by FmHA.

Appears in 1 contract

Samples: Boston Capital Tax Credit Fund Iv Lp

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Working Capital Loan. In order to comply with Paragraph 5(a) of the FmHA Loan Agreement, the General Partners have advanced or will advance prior to the Permanent Mortgage Closing to the Partnership $29,60024,078, which amount has been deposited by the Partnership in its general operating account (the "Working Capital Loan")) . The Working Capital Loan shall not bear interest and shall be repaid (i) to the extent permitted by FmHA, out of the Partnership funds not required for other Partnership purposes, (ii) out of any funds which FmHA designates as a return to the Partnership of such deposit to the Partnership's general operating account or (iii) as set forth in Article X.

Appears in 1 contract

Samples: Boston Capital Tax Credit Fund Iv Lp

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