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Affiliate. An individual, corporation or any other legal <br /> entity that directly, or indirectly, through one or more <br /> intermediaries, controls, is controlled by, or is under common <br /> control with, the designated party, or any officer, director or <br /> partner of the designated party or any company of which the <br /> designated party is an officer, director or partner. "Control" <br /> shall mean (i) ownership or control of 10 percent or more of the <br /> shares entitled to vote for the election of directors in the case <br /> of a corporation and 10 percent or more of the beneficial <br /> interests in the case of a legal entity other than a corporation, <br /> (ii) boards of directors that overlap by more than fifty <br /> percent (50 of their directors, or (iii) control of a <br /> majority of the directors in the case of a corporation. <br /> Agreement. This first amended and restated limited <br /> partnership agreement, including any subsequent amendments. <br /> Assignee. A Person who has acquired from a Partner, in <br /> accordance with the terms of this Agreement, a beneficial <br /> interest in the Partnership's Profits, Losses, Low Income Housing <br /> Credits, and Distributions, but who is not a substituted Partner. <br /> California Code. California Revenue and Taxation Code, as <br /> amended. <br /> Capital Account. An individual account maintained for <br /> each Partner in accordance with the provisions of Section 5. <br /> Cash From Refinancing. The net cash the Partnership <br /> realizes from the refinancing of all or a portion of the <br /> Development after (a) retirement of debt secured by the <br /> Development or any portion thereof, (b) payment of all <br /> -3- <br />