REIT Distribution Requirements. Unless the General Partner determines that such a distribution would not be in the best interests of the Partnership, the Partnership shall make a distribution of Cash Flow for each fiscal year of the Partnership to enable the General Partner (i) to meet its distribution requirement for qualification as a REIT as set forth in Section 857(a)(1) of the Code, and (ii) to avoid the excise tax imposed by Section 4981 of the Code.
Appears in 5 contracts
Samples: Limited Partnership Agreement (Stonehaven Realty Trust), Agreement of Limited Partnership (Boykin Lodging Co), Limited Partnership Agreement (Boykin Lodging Co)
REIT Distribution Requirements. Unless the General Partner determines that such a distribution would not be in the best interests of the Partnership, it is the intent, but not the obligation, of the Partnership that a cash distribution shall make a distribution of Cash Flow be made for each fiscal year Partnership Year of the Partnership to enable the General Partner (i) to meet its distribution requirement for qualification as a REIT as set forth in Section 857(a)(1) of the Code, Code and (ii) to avoid the excise tax imposed by Section 4981 of the Code.
Appears in 1 contract
Samples: Limited Partnership Agreement (Mid America Apartment Communities Inc)
REIT Distribution Requirements. Unless the General Partner determines that such a distribution would not be in the best interests of the Partnership, it is the intent, but not the obligation, of the Partnership that a cash distribution shall make a distribution of Cash Flow be made for each fiscal year of the Partnership to enable the General Partner (i) to meet its distribution requirement for qualification as a REIT as set forth in Section 857(a)(1) of the Code, Code and (ii) to avoid the excise tax imposed by Section 4981 of the Code.
Appears in 1 contract
REIT Distribution Requirements. Unless the General Partner determines that such a distribution would not be in the best interests of the Partnership, the Partnership shall make a distribution of Cash Flow for each fiscal year of the Partnership to enable the General Partner (i) to meet its distribution requirement for qualification as a REIT as -24- 29 set forth in Section 857(a)(1) of the Code, and (ii) to avoid the excise tax imposed by Section 4981 of the Code.
Appears in 1 contract
Samples: Agreement of Limited Partnership (Boykin Lodging Trust Inc)
