With respect to MHC Trust. (a) Continued Status as a Real Estate Investment Trust; Prohibited Transactions. MHC Trust (i) will continue to be a real estate investment trust as defined in Section 856 of the Internal Revenue Code (or any successor provision thereto), (ii) will not revoke its election to be a real estate investment trust, (iii) will not recognize any material "net income from prohibited transactions" as defined in Section 857(b)(6)(B)(i) of the Internal Revenue Code (or any successor provision thereto), and (iv) will do all acts necessary to continue to be entitled to a dividends paid deduction meeting the requirements of Section 857 of the Internal Revenue Code.
Appears in 5 contracts
Samples: Credit Agreement (Manufactured Home Communities Inc), Credit Agreement (Equity Lifestyle Properties Inc), Loan Agreement (Equity Lifestyle Properties Inc)