Common use of Distribution of Net Operating Income Clause in Contracts

Distribution of Net Operating Income. Except as otherwise provided, Net Operating Income for each fiscal year shall be distributed at each calendar quarterand shall be applied in the following order of priority: (a) to pay the Deferred Management Fee, if any; (b) to pay the balance of the current Asset Management Fee that was not paid monthly and then to pay any accrued Asset Management Fees which have not been paid in full from previous years; (c) to pay the principal and then interest on the Development Fee not to exceed the amount set forth in Exhibit B to the Development Fee Agreement; (d) to pay the Operating Loans, if any, as referenced in Section 6.3 of this Agreement, limited to 50% of the Net Operating Income remaining after reduction for the payments made pursuant to subsections (a) through (c) of this Section 11.1; (e) to pay the Incentive Management Fee; (f) to pay the Tax Credit Compliance Fee; and (g) the balance, 9.99% to the Limited Partner, 0.01% to the Special Limited Partner and 90% to the General Partner.

Distribution of Net Operating Income. Except as otherwise provided, Net Operating Income for each fiscal year shall be distributed at within 75 days following each calendar quarterand year and shall be applied in the following order of priority: (a) to pay the Deferred Management Fee, if any; (b) to pay the balance of the current Asset Management Fee that was not paid monthly and then to pay any accrued Asset Management Fees which have not been paid in full from previous years; (c) to pay the principal and then interest on the Development Fee not to exceed the amount set forth in Exhibit B to the Development Fee Agreement; (d) to pay the Operating Loans, if any, as referenced in Section 6.3 of this Agreement, limited to 50100% of the Net Operating Income remaining after reduction for the payments made pursuant to subsections (a) through (c) of this Section 11.1; (e) to pay the Incentive Management Fee; (f) to pay the Tax Credit Compliance Fee; and (g) the balance, 9.9929.98% to the Limited Partner, 0.01% to the Georgia Limited Partner, 0.01% to the Special Limited Partner Partner, 0.005% to the Non-Profit Limited Partner, and 9069.995% to the General Partner.

Distribution of Net Operating Income. Except as otherwise provided, Net Operating Income for each fiscal year shall be distributed at within seventy-five (75) days following each calendar quarterand year and shall be applied in the following order of priority: (a) to pay the Deferred Management Fee, if any; (b) to pay the balance of the current Asset Management Fee that was not paid monthly and then to pay any accrued Asset Management Fees which have not been paid in full from previous years; (c) to pay the principal and then interest on the Development Fee not to exceed the amount set forth in Exhibit B to the Development Fee Agreement; (d) to pay the Operating Loans, if any, as referenced in Section 6.3 of this Agreement, limited to 50% of the Net Operating Income remaining after reduction for the payments made pursuant to subsections (a) through (c) of this Section 11.1; (e) to pay the Incentive Management Fee; (f) to pay the Tax Credit Compliance Fee; and (g) the balance, 9.9929.99% to the Limited Partner, 0.01.01% to the Special Limited Partner and 9070% to the General Partner.

Distribution of Net Operating Income. Except as otherwise provided, Net Operating Income for each fiscal year shall be distributed at within 75 days following each calendar quarterand year and shall be applied in the following order of priority: (a) to pay the Deferred Management Fee, if any; (b) to pay the balance of the current Asset Management Fee that was not paid monthly and then to pay any accrued Asset Management Fees which have not been paid in full from previous years; (c) to pay the principal and then interest on the Development Fee not to exceed the amount set forth in Exhibit B to the Development Fee Agreement; (d) to pay the Operating Loans, if any, as referenced in Section 6.3 of this Agreement, limited to 50% of the Net Operating Income remaining after reduction for the payments made pursuant to subsections (a) through (c) of this Section 11.1; (e) to pay the Incentive Management Fee; (f) to pay the Tax Credit Compliance Fee; and (g) the balance, 9.9924.99% to the Limited Partner, 0.01% to the Special Limited Partner and 9075% to the General Partner.

Distribution of Net Operating Income. Except as otherwise provided, Net Operating Income for each fiscal year shall be distributed at within seventy-five (75) days following each calendar quarterand year and shall be applied in the following order of priority: (a) to pay the Deferred Management FeeFee (for the current fiscal year or any past fiscal years), if any; (b) to pay the balance of the current Asset Management Fee that was not paid monthly and then to pay any accrued Asset Management Fees which have not been paid in full from previous years; (c) to pay the principal and then interest on the Development Fee not to exceed the amount set forth in Exhibit B to the Development Fee AgreementFee; (d) to pay the Operating Loans, if any, as referenced in Section 6.3 of this Agreement, limited to 50% of the Net Operating Income remaining after reduction for the payments made pursuant to subsections (a) through (c) of this Section 11.1; (e) to pay the Incentive Management Fee; (f) to pay the Tax Credit Compliance Fee; and (g) the balance, 9.9920% to the Limited Partner, 0.01% to the Special Limited Partner and 9080% to the General Partner.

Distribution of Net Operating Income. Except as otherwise provided, Net Operating Income for each fiscal year shall be distributed at within 75 days following each calendar quarterand year and shall be applied in the following order of priority: (a) to pay the Deferred Management Fee, if any; (b) to pay the balance of the current Asset Management Fee that was not paid monthly and then to pay any accrued Asset Management Fees which have not been paid in full from previous years; (c) to pay the principal and then interest on the Development Fee not to exceed the amount set forth in Exhibit B to the Development Fee Agreement; (d) to pay the Operating Loans, if any, as referenced in Section 6.3 of this Agreement, limited to 50% of the Net Operating Income remaining after reduction for the payments made pursuant to subsections (a) through (c) of this Section 11.1; (e) to pay the Incentive Management Fee; (f) to pay the Tax Credit Compliance Fee; and (g) the balance, 9.9919.99% to the Limited Partner, 0.01% to the Special Limited Partner and 9080% to the General Partner.

Distribution of Net Operating Income. Except as otherwise provided, Net Operating Income for each fiscal year shall be distributed at within 75 days following each calendar quarterand year and shall be applied in the following order of priority: (a) to pay the Deferred Management Fee, if any; (b) to pay the balance of the current Asset Management Fee that was not paid monthly and then to pay any accrued Asset Management Fees which have not been paid in full from previous years; (c) to pay the principal interest and then interest principal on the Development Fee not to exceed the amount set forth in Exhibit B to the Development Fee AgreementFee; (d) to pay the interest and then principal on the Signature Holding Loan; (e) to pay the Operating Loans, if any, as referenced in Section 6.3 of this Agreement, limited to 50% of the Net Operating Income remaining after reduction for the payments made pursuant to subsections (a) through (cd) of this Section 11.1; (e) to pay the Incentive Management Fee; (f) to pay the Tax Credit Compliance Fee; and (gf) the balance, 9.99% shall be paid to the Limited Partner, 0.01% to the Special Limited Partner, 0.005% to the Class B Limited Partner and 9089.995% shall be paid as follows: 89.99% to pay the Incentive Management Fee and the Tax Credit Compliance Fee, and the balance following payment of such fees shall be paid to the General Partner.

Distribution of Net Operating Income. Except as otherwise provided, and subject to MHFA approval, Net Operating Income for each fiscal year shall be distributed at within 75 days following each calendar quarterand year and shall be applied in the following order of priority: (a) to pay the Deferred Management Fee, if any; (b) to pay the balance of the current Asset Management Fee that was not paid monthly and then to pay any accrued Asset Management Fees which have not been paid in full from previous years; (c) to pay the principal and then interest on the Development Fee not to exceed the amount set forth in Exhibit B to the Development Fee AgreementFee; (d) to pay the Operating Loans, if any, as referenced in Section 6.3 of this Agreement, limited to 50% of the Net Operating Income remaining after reduction for the payments made pursuant to subsections (a) through (c) of this Section 11.1; (e) to pay the Incentive Management Fee; (f) to pay the Tax Credit Compliance Fee; and (g) the balance, 9.9924.99% to the Limited Partner, 0.01% to the Special Limited Partner and 90Partner, 0.001% to the General PartnerPartner ▇▇▇▇▇▇▇▇, 0.001% to the General Partner ▇▇▇▇▇▇, and 73.008% to the General Partner MSH, LLC.

Distribution of Net Operating Income. Except as otherwise provided, Net Operating Income for each fiscal year shall be distributed at within seventy-five (75) days following each calendar quarterand year and shall be applied in the following order of priority: (a) to pay the Deferred Management Fee, if any; (b) to pay the balance of the current Asset Management Fee that was not paid monthly and then to pay any accrued Asset Management Fees which have not been paid in full from previous years; (c) to pay the principal interest and then interest principal on the deferred Development Fee not to exceed the amount set forth in Exhibit B to the Development Fee AgreementFee; (d) to pay the Operating Loans, if any, as referenced in Section 6.3 of this Agreement, limited to 50% of the Net Operating Income remaining after reduction for the payments made pursuant to subsections (a) through (c) of this Section 11.1; (e) to pay the Incentive Management Fee; (f) to pay the Tax Credit Compliance Fee; and (g) the balance, 9.9930% to the Limited Partner, 0.01% to the Special Limited Partner and 9070% to the General Partner.

Distribution of Net Operating Income. Except as otherwise provided, Net Operating Income for each fiscal year shall be distributed at within 75 days following each calendar quarterand year and shall be applied in the following order of priority: (a) to pay the Deferred Management Fee, if any; (b) to pay the balance of the current Asset Management Fee that was not paid monthly and then to pay any accrued Asset Management Fees which have not been paid in full from previous years; (c) to pay the principal and then interest on the Development Fee not to exceed the amount set forth in Exhibit B to the Development Fee Agreement; (d) to pay the Operating Loans, if any, as referenced in Section 6.3 of this Agreement, limited to 50% of the Net Operating Income remaining after reduction for the payments made pursuant to subsections (a) through (c) of this Section 11.1; (e) to pay the Incentive Management Fee; ; (f) to pay the Tax Credit Compliance Fee; and (g) the balance, 9.99% to the Limited Partner, 0.01% to the Special Limited Partner and 90% to the General Partner.