Examples of Investor REIT in a sentence
The Investor REIT will not terminate, assign, or encumber its rights under the Portfolio Management Agreement or permit the Portfolio Manager to cease to be at least 93% (ninety-three percent) owned and Controlled by the Managing GP; provided that the Portfolio Manager may be replaced with the prior written consent of the Agent, the Issuing Bank and the Required Lenders in their sole and absolute discretion.
Prior to the Effective Date, the Investor REIT has satisfied all conditions to the Investor REIT's calling for Capital Contributions by Investors, including any and all conditions contained in the Subscription Agreements or the Investor REIT's Constituent Documents.
The Investor REIT agrees that, until the Obligations are paid in full in cash, it will not exercise, and hereby waives, any right of reimbursement, subrogation, contribution, offset or other claims against the Borrower arising by contract or operation of law in connection with any payment made or required to be made by the Investor REIT under this Agreement or the other Loan Documents.
The Investor REIT will maintain adequate records so as to comply with all record-keeping requirements relating to its qualification as a real estate investment trust as required by the Code and applicable regulations of the Department of the Treasury promulgated thereunder and will properly prepare and timely file with the Internal Revenue Service all returns and reports required thereby to qualify as a real estate investment trust each year.
Neither the Borrower nor the Investor REIT shall employ or engage any employees at any time.
The Investor REIT will request from its shareholders all shareholder information required by the Code and applicable regulations of the Department of Treasury promulgated thereunder.
Neither the Borrower nor the Investor REIT shall take any action, or omit to take any action, which would give rise to a nonexempt prohibited transaction (as such term is defined in Section 4975 of the Code or Section 406 of ERISA) that could subject any Secured Party to any tax or penalty on prohibited transactions imposed under Section 4975 of the Code or Section 502(i) of ERISA.
The Investor REIT Obligations shall not be affected by the invalidity or unenforceability of any Loan Document, or the unrecoverability of any of the Obligations as against the Borrower or any other Person.
After the indefeasible payment in full in cash of the Obligations (other than Obligations in respect of contingent contractual indemnities), the Investor REIT shall be entitled to exercise against the Borrower all such rights of reimbursement, subrogation, contribution and offset, and all such other claims, to the fullest extent permitted by law.
The Investor REIT will operate its business at all times so as to satisfy all requirements necessary to qualify as a real estate investment trust under Sections 856 through 860 of the Code.