Examples of Administrative Limited Partner in a sentence
The Partnership Agreement also provides for the following limited partners: ECHDA is Special Limited Partner; Alliant Tax Credit 58, LLC, a Florida limited liability company, is Administrative Limited Partner; and Alliant Tax Credit Fund 58, LTD., a Florida limited partnership, is the Investor Limited Partner.
In accordance with the Partnership Agreement, profits and losses from operations, and Tax Credits are allocated 0.005% to the General Partner, 0.005% to the Special Limited Partner, 0.01% to the Administrative Limited Partner, and 99.98% to the Investor Limited Partner.
The balance to be paid 0.005% to the General Partners, 0.005% to the Special Limited Partner, 0.01 % to the Administrative Limited Partner and 99.98% to the Investor Limited Partner.
Defendant Fund 36 LLC is the Partnership's Administrative Limited Partner.
The Administrative Limited Partner is entitled to one one-hundredth of a percent (0.01%) of the housing tax credits.
No General Partner shall have any authority to do any of the following acts on behalf of the Partnership, except with the Consent of the Administrative Limited Partner and the approval, to the extent required, of any Credit Agency to any Lender:.
To the extent there is insufficient Cash Flow or Net Proceeds in any calendar year to compensate the Administrative Limited Partner in any year, the ALP Compliance Management Fee shall accrue and be paid out of available Cash Flow or Net Proceeds, as applicable.
On September 27, 2017, Counterclaim Plaintiffs filed a Second Amended Counterclaim alleging four counts against Counterclaim Defendants including two additional claims for breach of contract, a claim alleging a breach of fiduciary duty, and injunctive relief against all three Counterclaim Defendants related to the purchase of certain indebtedness of the Partnership by WCO without the consent of the Administrative Limited Partner.
The balance to be paid 99.98% to the Investor Limited Partner, 0.01% to the Administrative Limited Partner, 0.01% to the General Partner.NOTE H – CONTINGENCYThe Partnership’s low-income housing tax credits are contingent on its ability to maintain compliance with applicable sections of Section 42 of the Internal Revenue Code.
In addition, the General Partners shall provide the Administrative Limited Partner and the Investor Limited Partner with copies of all information, reports, and filings pertaining to the Housing Tax Credits and/or the "qualified basis" (as defined in Section 42 of the Code) of the Apartment Complex.