Examples of Operating Deficit Loan in a sentence
If and to the extent that the Partnership has an Operating Deficit due to a requirement to pay real estate taxes (in excess of the PILOT and other than the real estate taxes attributable to the Land) with respect to the Apartment Complex, Wichita GP shall make an Operating Deficit Loan to the Partnership in an amount sufficient to pay such real estate taxes.
Qualified Allocation Plan Insert Year., the Operating Deficit Loan Program and/or the Piggy Back Program required that each LIHTC property funded target at least Click here to enter text.
In addition, the Borrower covenants and agrees that if the Borrower makes any Operating Deficit Loan repayments to the General Partner, any such payments that utilizes Residual Receipts funds shall be paid solely from Borrower’s retained fifty- eight percent (58%) of the Residual Receipts, pursuant to the disbursement of such Residual Receipts to the Borrower under Section 2.05(b)(1) above.
Borrower covenants and agrees that if the Borrower makes any Operating Deficit Loan repayments to the General Partner, any such repayments paid from Residual Receipts funds shall be paid solely from Borrower’s retained thirty percent (30%) of Residual Receipts, pursuant to the disbursement of such Residual Receipts to the Borrower under Section 2.05(b)(1) above.
In addition, the Borrower covenants and agrees that if the Borrower makes any Operating Deficit Loan repayments to the General Partner, any such payments that utilizes Residual Receipts funds shall be paid solely from Borrower’s retained thirty- eight percent (38%) of the Residual Receipts, pursuant to the disbursement of such Residual Receipts to the Borrower under Section 2.05(b)(1) above.