REIT Qualifications. If the Trust elects to qualify for federal income tax treatment as a REIT, the Trustees shall use reasonable best efforts to take such actions as are necessary or appropriate to preserve the status of the Trust as a REIT, as relevant, from and after the effective date of such election; provided, however, that, if the Trustees determine that it is no longer in the best interests of the Trust to attempt to, or continue to qualify as a REIT, the Trustees may revoke or otherwise terminate the Trust’s REIT election pursuant to the applicable provisions of the Internal Revenue Code of 1986, as amended (the “Code”).
Appears in 4 contracts
Samples: Agreement and Declaration of Trust (Redwood Real Estate Income Fund), Agreement and Declaration of Trust (Pender Real Estate Credit Fund), Amended and Restated Agreement and Declaration of Trust (Redwood Real Estate Income Fund)
