SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) November 13, 2012
NATIONAL TAX CREDIT PARTNERS, L. P.
(Exact name of Registrant as specified in its charter)
80 International Drive
Post Office Box 1089
Greenville, South Carolina 29602
(Address of principal executive offices)
(Issuer's telephone number)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01 Entry into a Material Definitive Agreement.
National Tax Credit Partners, L.P., a California limited partnership (the Registrant), holds a 5% limited partnership interest in Glenark Associates Limited Partnership, a Rhode Island limited partnership (the Partnership). The Partnership owns a 67-unit apartment complex located in Woonsocket, Rhode Island. On November 13, 2012, the Registrant entered into a Third Amendment to Amended and Restated Certificate and Agreement of Limited Partnership of Glenark Associates Limited Partnership,(the Agreement) with Rhode Island Housing Development Corporation, a Rhode Island non-profit corporation (Rhode Island Housing), to transfer its limited partnership interest in the Partnership to Rhode Island Housing. The Registrants investment balance in the Partnership was zero at September 30, 2012 and December 31, 2011.
The foregoing description is qualified in its entirety by reference to the Agreement, a copy of which is filed as exhibit 10.8 to this report.
Item 2.01 Completion of Acquisition or Disposition of Assets.
Pursuant to the terms of the Agreement, on November 13, 2012, the transfer was completed. The Registrant received no proceeds.
Item 9.01 Financial Statements and Exhibits
10.8 Third Amendment to Amended and Restated Certificate and Agreement of Limited Partnership of Glenark Associates Limited Partnership, by and between National Tax Credit Partners, L.P., a California limited partnership, and Rhode Island Housing Development Corporaton, a Rhode Island non-profit corporation, dated November 13, 2012.
The agreement included as an exhibit to this Form 8-K contains representations and warranties by each of the parties to the applicable agreement. These representations and warranties have been made solely for the benefit of the other parties to the applicable agreement and:
· should not in all instances be treated as categorical statements of fact, but rather as a way of allocating the risk to one of the parties if those statements prove to be inaccurate;
· may apply standards of materiality in a way that is different from what may be viewed as material to an investor; and
· were made only as of the date of the applicable agreement or such other date or dates as may be specified in the agreement and are subject to more recent developments.
Accordingly, these representations and warranties may not describe the actual state of affairs as of the date they were made or at any other time. The Registrant acknowledges that, notwithstanding the inclusion of the foregoing cautionary statements, it is responsible for considering whether additional specific disclosures of material information regarding material contractual provisions are required to make the statements in this Form 8-K not misleading. Additional information about the Registrant may be found elsewhere in this Form 8-K and the Registrants other public filings, which are available without charge through the SECs website at http://www.sec.gov.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
NATIONAL TAX CREDIT PARTNERS L.P.
By: National Partnership Investments Corp.
By: /s/Stephen B. Waters
Stephen B. Waters
Senior Director of Partnership Accounting
Date: November 16, 2012