Ownership Limit and REIT Status. Notwithstanding anything contained herein, the Restrictions on the Restricted Shares shall not lapse: (a) to the extent the lapsing of such Restrictions could cause the Restricted Shareholder to be in violation of the Ownership Limit; or (b) if, in the discretion of the Administrator, the lapsing of such Restrictions could impair the Company's status as a REIT.
Appears in 3 contracts
Samples: Restricted Share Agreement (Tanger Factory Outlet Centers Inc), Restricted Share Agreement (Tanger Factory Outlet Centers Inc), Restricted Share Agreement (Tanger Factory Outlet Centers Inc)
Ownership Limit and REIT Status. Notwithstanding anything contained herein, the Restrictions on the Restricted Shares Stock shall not lapse:
(a) to the extent the lapsing of such Restrictions could cause the Restricted Shareholder Stockholder to be in violation of the Ownership Limit; or
(b) if, in the discretion of the AdministratorCommittee, the lapsing of such Restrictions could impair the Company's ’s status as a REIT.
Appears in 2 contracts
Samples: Restricted Stock Agreement (MPG Office Trust, Inc.), Restricted Stock Agreement (MPG Office Trust, Inc.)
Ownership Limit and REIT Status. Notwithstanding anything contained herein, the Restrictions on the Restricted Shares Stock shall not lapse:
(a) to the extent the lapsing of such Restrictions could cause the Restricted Shareholder Stockholder to be in violation of the Ownership Limit; or
(b) if, in the discretion of the Administrator, the lapsing of such Restrictions could impair the Company's ’s status as a REIT.
Appears in 2 contracts
Samples: Employment Agreement (Maguire Properties Inc), Employment Agreement (Maguire Properties Inc)
Ownership Limit and REIT Status. Notwithstanding anything contained herein, the Restrictions on the Restricted Shares shall not lapse:
: (a) to the extent the lapsing of such Restrictions could cause the Restricted Shareholder to be in violation of the Ownership Limit; or
(b) if, in the discretion of the Administrator, the lapsing of such Restrictions could impair the Company's status as a REIT.
Appears in 1 contract
Samples: Restricted Share Agreement (Tanger Properties LTD Partnership /Nc/)
Ownership Limit and REIT Status. Notwithstanding anything contained herein, the Restrictions on the Restricted Shares shall not lapse:
(a) to the extent the lapsing of such Restrictions could cause the Restricted Shareholder to be in violation of the Ownership Limit; or
(b) if, in the discretion of the Administrator, the lapsing of such Restrictions could impair the Company's ’s status as a real estate investment trust within the meaning of Section 856 through 860 of the Code (“REIT”).
Appears in 1 contract
Samples: Restricted Share Agreement (Tanger Factory Outlet Centers, Inc)
Ownership Limit and REIT Status. Notwithstanding anything contained herein, the Restrictions on the Restricted Shares shall not lapse:
: (a) to the extent the lapsing of such Restrictions could cause the Restricted Shareholder to be in violation of the Ownership Limit; or
or (b) if, in the discretion of the Administrator, the lapsing of such Restrictions could impair the Company's ’s status as a REIT.. Section
Appears in 1 contract
Samples: Restricted Share Agreement (Tanger Properties LTD Partnership /Nc/)
