Debt Service Coverage. Notwithstanding, in the event the Net Operating Income does not produce a 1.15 Debt Service Coverage as determined by the Special Limited Partner then at the request of the Special Limited Partner the General Partner shall reduce and/or refinance the principal of the Mortgage to an amount the Special Limited Partner determines is adequate to produce a 1.15
Appears in 11 contracts
Sources: Limited Partnership Agreement (WNC Housing Tax Credit Fund Vi Lp Series 6), Limited Partnership Agreement (WNC Housing Tax Credit Fund Vi Lp Series 8), Limited Partnership Agreement (WNC Housing Tax Credit Fund Vi Lp Series 8)
Debt Service Coverage. Notwithstanding, in the event the Net Operating Income does not produce a 1.15 1.10 Debt Service Coverage as determined by the Special Limited Partner then at the request of the Special Limited Partner the General Partner shall reduce and/or refinance the principal of the Mortgage to an amount the Special Limited Partner determines is adequate to produce a 1.151.10
Appears in 2 contracts
Sources: Limited Partnership Agreement (WNC Housing Tax Credit Fund Vi Lp Series 5), Limited Partnership Agreement (WNC Housing Tax Credit Fund Vi Lp Series 7)
Debt Service Coverage. Notwithstanding, in the event the Net Operating Income does not produce a 1.15 Debt Service Coverage as determined by the Special Limited Partner then at the request of the Special Limited Partner the General Partner shall reduce and/or refinance the principal of the Mortgage to an amount the Special Limited Partner determines is adequate to produce a 1.151.15 Debt Service Coverage, as to the extent provided in the Partnership Agreement.
Appears in 1 contract
Sources: Limited Partnership Agreement (WNC Housing Tax Credit Fund Vi Lp Series 6)