Common use of Operating Deficit Clause in Contracts

Operating Deficit. The Partnership shall deposit $18,000 into a fund controlled by MHDC to be used for initial Operating Deficits. At stabilized occupancy as defined by MHDC in the Mortgage, any remaining funds in excess of normal cash requirements will be released to the Partnership and paid to the General Partner as an Operating Deficit Guarantee Fee.

Operating Deficit. The Partnership shall deposit $18,000 22,402 into a fund controlled by MHDC to be used for initial Operating Deficits. At stabilized occupancy as defined by MHDC in the Mortgage, any remaining funds in excess of normal cash requirements will be released to the Partnership and paid to the General Partner as an Operating Deficit Guarantee Fee.