Outstanding Equity. (a) All issued and outstanding capital stock of the REIT, comprising 1,000 REIT Shares, are held by the Manager as of the date hereof. Such REIT Shares shall be redeemed upon Closing. (b) Upon Closing and completion of the IPO, and after redemption of the REIT Shares described in (a), the only issued and outstanding REIT Shares and common units in the Operating Partnership shall be those issued in connection with the IPO and the Formation Transactions, as described in the Registration Statement.
Appears in 4 contracts
Samples: Contribution Agreement (Silver Bay Realty Trust Corp.), Contribution Agreement (Two Harbors Investment Corp.), Contribution Agreement (Silver Bay Realty Trust Corp.)
