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.
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.
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.
Notwithstanding anything contained in this Regulatory Agreement to the contrary, the City agrees that any cure of any default made or tendered by the Administrative Limited Partner and/or the Investor Limited Partner shall be deemed to be a cure by the Owner and shall be accepted or rejected on the same basis as if made or tendered by the Owner.
Administrative Limited Partner and General Partner shall cooperate to confirm that the Property Management Agreement reflects the provisions of this paragraph.
The Investor Limited Partner and the Administrative Limited Partner shall notify the General Partners as to any proposed Assignment.
The General Partners will have the duty to manage the Apartment Complex during any period when there is no Management Agent and the Partnership will pay the General Partners for such services an annual management fee equal to such amount as each Credit Agency and the Administrative Limited Partner shall approve from time to time or, if no approval is required, a fee equal to the amounts set forth in Section 8.2 hereof.
For the Project Owner, (i) the General Partner is [AHFC Xxxx Drive Apartments Non- Profit Corporation, a Texas nonprofit corporation] (the “GP”), an affiliate of Austin Housing Finance Corporation, and (ii) the Administrative Limited Partner is [ , a ] (the “ALP”).