Rule 16 - Redemption of Tax Credit(a) Prior to assignment of a Tax Credit to a third party, the Applicant shall file a request with the Tax Division to redeem the Tax Credit, in whole or in part.(b) Upon request of an Applicant holding a valid Tax Credit Certificate, the Tax Division shall be entitled to redeem such credit in whole or in part for one hundred percent (100%) of the value of the Tax Credit to the extent of available funds in the Anchor Institution Tax Credit Fund; provided that the Applicant must qualify for a Letter of Good Standing in order to be eligible to redeem any portion of a credit..(c) An Applicant seeking redemption of a Tax Credit shall file an application on the form prescribed by the Tax Division together with the original Tax Credit Certificate. The Tax Division shall be entitled to pay the redemption amount within ninety (90) days of submission of a complete redemption application by the Applicant to the extent of available funds in the Anchor Institution Tax Credit Fund. To the extent of any insufficiency of funds in the Anchor Institution Tax Credit Fund, the Tax Division shall either return the original Tax Credit Certificate to the Applicant or issue a new Tax Credit Certificate for such partial amounts that are not redeemed by the Tax Division.(d) An Assignee of the Tax Credit is not entitled to redeem a Tax Credit.