STATUS FOR REIT OWNERSHIP AND INCOME TESTS. At the Closing, applying the stock ownership rules of Code Section 856(h), Buyer will be treated as a corporation, and the Shares that it owns will be treated as owned proportionately by Buyer's policyholders (its "shareholders" for this purpose).
Appears in 3 contracts
Samples: Share Purchase Agreement (American Industrial Properties Reit Inc), Share Purchase Agreement (Usaa Real Estate Co), Share Purchase Agreement (Usaa Real Estate Co)
STATUS FOR REIT OWNERSHIP AND INCOME TESTS. At Following the Closing, and at all subsequent times during which Buyer owns any of the Shares, applying the stock ownership rules of Code Section 856(h), Buyer will be treated as a corporation, and the Shares that it owns will be treated as owned proportionately by Buyer's policyholders (its "shareholders" for this purpose).
Appears in 2 contracts
Samples: Share Purchase Agreement (American Industrial Properties Reit Inc), Share Purchase Agreement (Usaa Real Estate Co)
