Examples of ESH REIT in a sentence
ESH REIT will use its best efforts to continue to qualify for taxation as a REIT under the Code unless its board of directors determines that it is no longer in the best interests of ESH REIT and its stockholders to be so qualified.
The Corporation Shares and the ESH REIT Shares have been delivered to the Representatives and paired pursuant to the Pairing Agreement.
No relationship, direct or indirect, exists between or among ESH REIT or any of its subsidiaries, on the one hand, and the directors, officers, direct or indirect stockholders, customers or suppliers of ESH REIT or any of its subsidiaries, on the other, that is required by the Securities Act to be described in the Registration Statement and the Prospectus and that is not so described in such documents and in the Pricing Disclosure Package.
The subsidiaries listed in Schedule 3 to this Agreement are the only significant subsidiaries of the Corporation and ESH REIT, respectively.
Commencing with its short taxable year ending December 31, 2010, ESH REIT has been organized and operated in conformity with the requirements for qualification and taxation as a REIT, and its proposed method of operation as set forth in the Registration Statement, the Pricing Disclosure Package and the Prospectus will enable it to continue to meet the requirements for qualification and taxation as a REIT under the Code, under current law.
For its taxable year ended December 31, 2010, ESH REIT made a timely election to be subject to tax as a real estate investment trust (a “REIT”) pursuant to Sections 856 through 860 of the United States Internal Revenue Code of 1986, as amended (the “Code”).
Each of the Corporation Shares, the ESH REIT Shares, the Repurchased Shares and the Shares to be sold hereunder have been duly authorized and validly issued, are fully paid and nonassessable and conform to the descriptions thereof in the Registration Statement, the Pricing Disclosure Package and the Prospectus.
The Administrative Agent shall have received (i) the Escrow Agreement, executed and delivered by each of ESH REIT and the Escrow Bank and (ii) evidence in form and substance acceptable to the Administrative Agent that an amount equal to the net proceeds from the Extended Stay IPO has been deposited into the Escrow Account.
For the period from July 1, 2014 through December 31, 2014, ESH REIT’s Excess Cash Flow, as defined, totaled approximately $17.1 million, which requires ESH REIT to make a mandatory prepayment of approximately $8.5 million on or prior to March 31, 2015.
This Agreement may not be modified, amended, terminated and no provision hereof may be waived in whole or in part except by a written agreement signed by the Company, ESH REIT and the Grantee and no modification shall, without the consent of the Grantee, alter to the Grantee’s detriment or impair any rights of the Grantee under this Agreement except to the extent permitted under the Plan.