Maximum Dividend Payout Ratio. Maintain as of each Test Date, a Dividend Payout Ratio of equal to or less than (A) 95% or (B) such greater amount as may be required by applicable law to avoid imposition of income and excise taxes under the Internal Revenue Code.
Appears in 7 contracts
Samples: Term Loan Agreement (Hersha Hospitality Trust), Credit Agreement (Hersha Hospitality Trust), Term Loan Agreement (Hersha Hospitality Trust)
Maximum Dividend Payout Ratio. Maintain as of each Test Date, a Dividend Payout Ratio of equal to or less than (A) 95% or (B) such greater amount as may be required by applicable law to maintain status as a REIT for tax purposes or to avoid the imposition of income and or excise taxes under the Internal Revenue Codetaxes.
Appears in 7 contracts
Samples: Credit Agreement (Summit Hotel Properties, Inc.), Credit Agreement (Summit Hotel Properties, Inc.), Credit Agreement (Summit Hotel Properties, Inc.)
Maximum Dividend Payout Ratio. Maintain as of each Test Date, a Dividend Payout Ratio of equal to or less than (A) 95% or (B) such greater amount as may be required by applicable law to avoid imposition of income and excise taxes under the Internal Revenue Codemaintain status as a REIT for tax purposes.
Appears in 3 contracts
Samples: Credit Agreement (Campus Crest Communities, Inc.), Credit Agreement (Campus Crest Communities, Inc.), Credit Agreement (Campus Crest Communities, Inc.)
Maximum Dividend Payout Ratio. Maintain as of each Test Date, a Dividend Payout Ratio of equal to or less than (A) 95% or (B) such greater amount as may be required by applicable law to maintain its status as a REIT and avoid imposition of income and excise taxes under the Internal Revenue CodeCode (exclusive of Special Dividends).
Appears in 2 contracts
Samples: Credit Agreement (Hersha Hospitality Trust), Credit Agreement (Hersha Hospitality Trust)
Maximum Dividend Payout Ratio. Maintain as of each Test Date, a Dividend Payout Ratio of equal to or less than (A) 9590% or (B) such greater amount as may be required by applicable law to avoid imposition of income and excise taxes under the Internal Revenue Codemaintain status as a REIT for tax purposes.
Appears in 2 contracts
Samples: Security Agreement (Campus Crest Communities, Inc.), Credit Agreement (Campus Crest Communities, Inc.)
