DRIP Participant definition

DRIP Participant shall have the meaning set forth in Section 5.8.

DRIP Participant means a Limited Partner who participates in the DRIP by electing to have all or a portion of (i) the cash distributions of Net Cash Flow and Capital Proceeds paid on its Partnership Interests pursuant to Section 5.1(a), (ii) such Limited Partner’s Class B Distributions pursuant to Section 5.1(b), if applicable, and (iii) such Limited Partner’s Class C Distributions pursuant to Section 5.1(c), if applicable, automatically reinvested in additional Partnership Interests when and as declared by the General Partner in accordance with Section 5.2.

DRIP Participant shall have the meaning set forth in Section 5.8. “Event of Bankruptcy” as to any Person means the filing of a petition for relief as to such Person as debtor or bankrupt under the Bankruptcy Code of 1978 or similar provision of law of any jurisdiction (except if such petition is contested by such Person and has been dismissed within 90 days); insolvency or bankruptcy of such Person as finally determined by a court proceeding; filing by such Person of a petition or application to accomplish the same or for the appointment of a receiver or a trustee for such Person or a substantial part of his assets; commencement of any proceedings relating to such Person as a debtor under any other reorganization, arrangement, insolvency, adjustment of debt or liquidation law of any jurisdiction, whether now in existence or hereinafter in effect, either by such Person or by another, provided that if such proceeding is commenced by another, such Person indicates his approval of such proceeding, consents thereto or acquiesces therein, or such proceeding is contested by such Person and has not been finally dismissed within 90 days. “Excepted Holder Limit” shall have the meaning set forth in the Charter. “General Partner” means Blackstone Real Estate Income Trust, Inc., a Maryland corporation, and any Person who becomes a substitute or additional General Partner as provided herein, and any of their successors as General Partner, in such Person’s capacity as a General Partner of the Partnership. “General Partnership Interest” means any Partnership Interest held by the General Partner, other than any Partnership Interest it holds as a Limited Partner. “Hurdle Amount” for any period during a calendar year means that amount that results in a 5% annualized internal rate of return on the Net Asset Value of the Performance Participation Units outstanding at the beginning of the then-current calendar year and all Performance Participation Units issued since the beginning of the then-current calendar year, taking into account the timing and amount of all distributions accrued or paid (without duplication) on all such Performance Participation Units and all issuances of Performance Participation Units over the period and calculated in accordance with recognized industry practices. The ending Net Asset

Examples of DRIP Participant in a sentence

• By opting into the Company’s DRIP, Participant authorizes the Company to automatically reinvest the portion of any cash distributions from the Company allocated to all of Participant’s Shares into additional shares of the Company’s common stock, and to issue such additional shares at the then-current price per share as reviewed and set by the Company on an annual basis.

• Subject to Section 5.2(b)(vi), the General Partner shall, on behalf of each DRIP Participant, reinvest such DRIP Participant’s cash distributions in additional Partnership Interests to be issued by the Partnership, unless the General Partner determines to distribute such cash distributions for any reason.

• Partnership Interests issued pursuant to the DRIP shall be (i) allocated between each class of Partnership Interests in accordance with Section 3.1 (provided that, for purposes of applying Section 3.1, the DRIP Participant shall be deemed to have made a capital commitment on the date on which it otherwise would have received the cash distribution), and (ii) purchased at the Partnership Interest Price as of the DRIP Record Date.

• By opting in to the Company’s DRIP, Participant authorizes the Company to automatically reinvest the portion of any cash distributions from the Company allocated to all of Participant’s Shares into additional shares of the Company’s common stock, and to issue such additional shares at the then-current price per share as reviewed and set by the Company on an annual basis.

More Definitions of DRIP Participant

DRIP Participant means any Dividend Reinvestment Plan Participant of the REIT.