Maintenance of REIT Status. In the case of the Parent Guarantor, at all times, conduct its affairs and the affairs of its Subsidiaries in a manner so as to continue to qualify as a REIT for U.S. federal income tax purposes.
Maintenance of REIT Status. In the case of the Parent Guarantor, at all times be organized in conformity with the requirements for qualification as a REIT under the Internal Revenue Code, and at all times continue to qualify as a REIT and elect to be treated as a REIT under all applicable laws, rules and regulations.
Maintenance of REIT Status. (a) So long as WHL or any of its wholly-owned subsidiaries (a "WHL Entity") owns any of the Series D Equity Shares, the Company will continue to be taxed as a real estate investment trust pursuant to Sections 856 through 860 of the Code.
(b) If the Company shall fail to continue to be taxed as a real estate investment trust pursuant to Sections 856 through 860 of the Code (a "REIT-TERMINATION EVENT"), each WHL Entity shall have the right to require the Company, to the extent the Company shall have funds legally available therefor, to repurchase any or all of the Series D Equity Shares held by such WHL Entity at a repurchase price payable in cash (the "REIT-REPURCHASE PAYMENT") in an amount equal to 115% of the Liquidation Preference thereof, plus accrued and unpaid dividends whether or not declared, if any to the date of repurchase or the date payment is made available (the "REIT-REPURCHASE DATE").
(c) Within 15 days following the Company becoming aware that a REIT-Termination Event has occurred, the Company shall mail by first class mail or recognized overnight courier a notice to each WHL Entity holding Series D Equity Shares stating (A) that a REIT-Termination Event has occurred and that such holder has the right to require the Company to repurchase any or all of the Series D Equity Shares, (B) the date of repurchase (which shall be a Business Day, no earlier than 30 days and no later than 60 days from the date such notice is mailed, or such later date as may be necessary to comply with the requirements of the Exchange Act), (C) the repurchase price and (D) the instructions determined by the Company, consistent with this subsection, that such holder must follow in order to have the Series D Equity Shares repurchased.
(d) On the REIT-Repurchase Date, the Company, to the extent lawful, shall accept for payment Series D Equity Shares or portions thereof tendered by the WHL Entities pursuant to the REIT-Repurchase Offer and promptly, by wire transfer of immediately available funds to such holders, as directed by such holders, send an amount equal to the REIT-Repurchase Payment in respect of all Series D Equity Shares, or portions thereof so tendered.
(e) Notwithstanding anything else herein, to the extent they are applicable to any REIT-Repurchase Offer, the Company will comply with any federal and state securities laws, rules and regulations and all time periods and requirements shall be adjusted accordingly.
Maintenance of REIT Status. The Borrower will, at all times, conduct its affairs in a manner so as to continue to qualify as a REIT and elect to be treated as a REIT under all Applicable Laws, rules and regulations until such time as the board of directors of the Borrower deems it in the best interests of the Borrower and its stockholders not to remain qualified as a REIT.
Maintenance of REIT Status. During the Term of this Agreement, the REIT shall qualify, and be taxed as, a real estate investment trust under Subchapter M of the Internal Revenue Code, and will not be engaged in any activities which would jeopardize such qualification and tax treatment.
Maintenance of REIT Status. The Company will, at all times, conduct its affairs in a manner so as to continue to qualify as a REIT and elect to be treated as a REIT under all Applicable Laws, rules and regulations until such time as the board of directors of the Company deems it in the best interests of the Company and its stockholders not to remain qualified as a REIT.
Maintenance of REIT Status. Maintain material compliance with Section 856 and any other applicable provisions of the Code necessary to maintain its REIT status.
Maintenance of REIT Status. CRT shall engage in such business activities, and shall refrain from engaging in such activities, so as to continue to meet the requirements for qualification and taxation as a REIT under the Code. CRT shall at all times remain listed and traded on the New York Stock Exchange.
Maintenance of REIT Status. In the case of the Parent, at all times, conduct its affairs and the affairs of its Subsidiaries in a manner so as to continue to qualify as a REIT and elect to be treated as a REIT under all applicable laws, rules and regulations.
Maintenance of REIT Status. Following the REIT Election, the Borrower (or applicable parent entity) will, at all times, conduct its affairs in a manner so as to continue to qualify as a REIT for U.S. federal income tax purposes until such time as the board of directors of the Borrower (or applicable parent entity) deems it in the best interests of the Borrower and its stockholders not to remain qualified as a REIT.
