October 6, 1998 Personal and Confidential Lehigh Tax Credit Partners III L.L.C. Lehigh Tax Credit Partners, Inc. 625 Madison Avenue New York, NY 10022 Gentlemen: As you requested, the purpose of this letter is to set forth our understanding with...Letter of Understanding • January 26th, 1999 • Lehigh Tax Credit Partners Iii LLC • Real estate • New York
As you requested, the purpose of this letter is to set forth our understanding with regard to any proposed acquisition of beneficial assignment certificates ("BACs") of Independence Tax Credit Plus L.P. III, a Delaware limited partnership (the "Partnership"), from holders of BACs (each a "BACs holder" and collectively, "BACs holders") by Lehigh Tax Credit Partners III L.L.C. ("Lehigh"), Lehigh Tax Credit Partners, Inc. ("Lehigh, Inc.") or any person who is their Affiliate (as defined below) (collectively, "you").
