Internalization definition

Internalization means an internalization by AF REIT of the services provided to it by the Manager.

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Internalization means the internalization of the services provided by Advisor pursuant to Section 18(b) of the Advisory Agreement.

Internalization means any internalization by the Partnership or General Partner of management functions from the Advisor.

Examples of Internalization in a sentence

• Any decision to pursue a Qualifying Internalization must be approved by the affirmative vote of a majority of the Board of Directors, including a majority of the Independent Directors.

• If the Company elects to pursue a Qualifying Internalization, the Company shall provide written notice to the Business Manager, stating the Company’s intention to pursue the Qualifying Internalization (the “Qualifying Internalization Notice”).

• If, however, this Agreement is terminated by the Business Manager pursuant to Section 14(b) after the date on which the Company has mailed or otherwise delivered the Qualifying Internalization Notice, the Business Manager shall cooperate with the Company and take all actions necessary to complete the Qualifying Internalization pursuant to Section 10(a), prior to the termination of the Agreement.

• If the conditions to break escrow are not met within 10 years of the Internalization Transaction, all shares in the escrow account shall become authorized but unissued shares and all cash in the escrow account shall belong to the Company.

• Further, if this Agreement is terminated by the Company pursuant to Section 14(b) after the date on which the Company has mailed or otherwise delivered the Qualifying Internalization Notice, the parties shall immediately cease all actions undertaken in connection with the Qualifying Internalization, and shall take no further actions in connection therewith.

More Definitions of Internalization

Internalization means a transaction or series of related transactions (including, without limitation, mergers, consolidations, stock or other ownership interest purchases or modifications of agreements) whereby (a) the Advisor ceases or reduces the level of its services accompanied by an elimination or a commensurate reduction of the amount of the fees payable to the Advisor under the Advisory Agreement, (b) REIT or any of its wholly owned Subsidiaries employs persons previously employed by the Advisor and (c) REIT or any of its wholly owned Subsidiaries subsequently is to perform all or some of the duties previously performed by Advisor.

Internalization has the meaning set forth in the Recitals.

Internalization has the meaning set forth in Section 18(b)(i).

Internalization means the internalization by Parent (resulting from the transactions contemplated by the Internalization Merger Agreement) of certain of the advisory and property management services, including personnel, provided by (i) Parent Advisor, Parent Property Manager, and their respective Subsidiaries pursuant to the Parent Management Agreements and (ii) Company Advisor, Necessity Retail Properties, LLC, and their respective Subsidiaries pursuant to the Company Management Agreements.

Internalization means that certain internalization transaction contemplated by the Contribution Agreement.

Internalization means the internalization of the external management functions on February 7, 2020.

Internalization means an internalization by AF REIT of the services provided to it by the Manager. “Land Assets” means any Real Property which is not an Asset Under Development and on which no significant improvements have been constructed