New Reit definition

New Reit means New Reit as hereinbefore defined and any successor to all or substantially all of its business and/or its assets as aforesaid which executes and delivers the agreement provided for in this Paragraph 9 or which otherwise becomes bound by all the terms and provisions of this Agreement by operation of law. Any cash payments owed to Executive pursuant to this Paragraph 9 shall be paid to Executive in a single sum, without discount for early payment, immediately prior to the consummation of the transaction with such successor.
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New Reit has the meaning set forth in the Introduction to this Agreement.
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New Reit shall have the meaning set forth in definition of the term "Reorganization".
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Examples of New Reit in a sentence

  • No delay on the part of New Reit or Executive in the exercise of any of their respective rights or remedies shall operate as a waiver thereof, and no single or partial exercise by New Reit or Executive of any such right or remedy shall preclude other or further exercise thereof.

  • New Reit desires to employ Executive, and Executive desires to be employed by New Reit, pursuant to the terms set forth herein.

  • All notices or other communications required or permitted hereunder shall be made in writing and shall be deemed to have been duly given if delivered by hand or delivered by a recognized delivery service or mailed, postage prepaid, by express, certified or registered mail, return receipt requested, and addressed to New Reit or Executive, as applicable, at the address set forth above (or to such other address as shall have been previously provided in accordance with this Paragraph 9).

  • During the Employment Period, New Reit shall pay Executive the following annual base salary which shall be payable in accordance with New Reit's normal payroll practices ("Annual Base Salary): $175,000 beginning September 2, 1997 through December 31, 2000; $200,000 beginning on January 1, 2001 through December 31, 2001; and $225,000 beginning on January 1, 2002 through December 31, 2002 and thereafter, if applicable, as may be mutually agreed by the parties.

  • Regardless of the party electing termination of this Agreement, New Reit shall pay Executive a single-sum payment on date of termination equal to the product of $7,500 multiplied by each month which has elapsed from August 1, 1997 through the date of termination, pro-rated for any portion of a month.

  • All notices or other communications required or permitted hereunder shall be made in writing and shall be deemed to have been duly given if delivered by hand or delivered by a recognized delivery service or mailed, postage prepaid, by express, certified or registered mail, return receipt requested, and addressed to New Reit or Executive, as applicable, at the address set forth above (or to such other address as shall have been previously provided in accordance with this Paragraph 12).

  • Certificates for shares of New Reit Common Stock, when released to Executive, shall have restrictive legends applicable to the Stock Pledge Agreement and any statements of other applicable restrictions with respect thereto removed.

  • New Reit hereby agrees to employ Executive, and Executive hereby agrees to be employed by New Reit, on a full-time basis for a term commencing September 2, 1997 and expiring on December 31, 2002, unless this Agreement shall be either (i) extended thereafter by mutual agreement of the parties, or (ii) terminated earlier pursuant to the terms hereof.

  • It is the intention of the parties that New Reit provide Executive with a full tax gross-up under the provisions of this Paragraph, so that on a net after-tax basis, the result to Executive shall be the same as if the excise tax under Section 4999 of the Code (or any successor provisions) had not been imposed.

  • New Reit shall deduct and withhold from compensation payments all social security and other federal, state and local taxes and charges in the minimum amounts (or such greater amounts as the Executive may from time to time request) which currently are or which hereafter may be required by law to be so deducted and withheld, including withholding pursuant to bonus withholding rates, as applicable.

Related to New Reit

  • REIT means a real estate investment trust under Sections 856 through 860 of the Code.

  • Partnership Subsidiary means Host LP and any partnership, limited liability company, or other entity treated as a partnership for federal income tax purposes or disregarded as a separate entity for federal income tax purposes in which either Host REIT or Host LP owns (or owned on or after January 1, 1999) an interest, either directly or through one or more other partnerships, limited liability companies or other entities treated as a partnership for federal income tax purposes or disregarded as a separate entity for federal income tax purposes (whether or not Host REIT or Host LP has a controlling interest in, or otherwise has the ability to control or direct the operation of, such entity). Notwithstanding the foregoing, the term “Partnership Subsidiary” shall not in any way be deemed to include the Non-Controlled Subsidiaries or subsidiaries thereof, the Taxable REIT Subsidiaries or subsidiaries thereof, or the Subsidiary REITs or subsidiaries thereof.

  • New Parent shall have the meaning assigned to such term in the definition of the term “Change in Control”.

  • General Partners means all such Persons.

  • New Holdco means the direct or indirect Subsidiary of the Ultimate Parent following the Post-Closing Reorganizations.

  • General partnership means an organization formed under chapters 45-13 through 45-21.

  • Operating Partnership has the meaning set forth in the preamble.

  • New Holding Company means a corporation that is not a bank, association, or national banking association and as to which all of the following apply:

  • Qualified REIT Subsidiary means any Subsidiary of the General Partner that is a “qualified REIT subsidiary” within the meaning of Section 856(i) of the Code.

  • ETP means Energy Transfer Partners, L.P., a Delaware limited partnership.

  • Departing General Partner means a former General Partner from and after the effective date of any withdrawal or removal of such former General Partner pursuant to Section 11.1 or Section 11.2.

  • HCP means a Habitat Conservation Plan prepared pursuant to § 10(a)(2)(A) of the ESA (16 U.S.C. § 1539(a)(2)(A)).

  • MLP has the meaning given such term in the introduction to this Agreement.

  • General Partner has the meaning set forth in the Preamble.

  • Holdco has the meaning set forth in the Preamble.

  • New Holdings shall have the meaning provided in the definition of the term “Holdings”.

  • General Partnership Interest means a Partnership Interest held by the General Partner that is a general partnership interest.

  • MEP means maximum extent practicable, the technology-based discharge standard for municipal separate storm sewer systems to reduce pollutants in stormwater discharges.

  • Surviving General Partner has the meaning set forth in Section 7.01(d) hereof.

  • General Partner Units has the meaning assigned to such term in the Partnership Agreement.

  • General Partner Unit means a fractional part of the General Partner Interest having the rights and obligations specified with respect to the General Partner Interest. A General Partner Unit is not a Unit.

  • GP means Gottbetter & Partners, LLP.

  • Redeeming Partner has the meaning set forth in Section 8.6.A.

  • Reorganized Company means the Company, as reorganized as of the Effective Date in accordance with the Reorganization Plan.

  • Operating Company means an “operating company” within the meaning of 29 C.F.R. §2510.3-101(c) of the Plan Asset Regulations.

  • OP means open pit and “UG” means underground.