Ownership Limitation Termination Date definition

Ownership Limitation Termination Date means the first day after the date as of which the Board determines that it is no longer in the best interests of the Corporation to attempt to, or continue to, qualify as a REIT.

Ownership Limitation Termination Date means the first day after the date on which the Trustees determine that it is no longer in the best interests of PREIT to attempt to, or continue to, qualify as a REIT.

Ownership Limitation Termination Date means the first Business Day following the second anniversary of the Distribution Date.

Examples of Ownership Limitation Termination Date in a sentence

• Except as provided in Paragraph E of this Article FIFTH, from the Public Listing Date and through and including the Ownership Limitation Termination Date, no Person shall Beneficially Own, or enter into any agreement, understanding, arrangement or substantial negotiations (within the meaning of Treasury Regulations Section 1.355-7(h)(1)) to Beneficially Own, in each case, Capital Stock in excess of the applicable Share Ownership Limit.

• From the Adoption Date and prior to the Ownership Limitation Termination Date, any Transfer that, if effective, would result in Shares being Beneficially Owned by less than 100 Persons (determined without referring to any rules of attribution) shall be void ab initio as to the Transfer of such Shares which would be otherwise Beneficially Owned by the transferee; and the intended transferee shall acquire no rights in such Shares.

• From the Adoption Date and prior to the Ownership Limitation Termination Date, any Transfer that, if effective, would result in the Corporation being “closely held” within the meaning of Section 856(h) of the Code shall be void ab initio as to the Transfer of the Shares which would cause the Corporation to be “closely held” within the meaning of Section 856(h) of the Code; and the intended transferee shall acquire no rights in such Shares.

• Except as provided in Section A.(12) of this Article IX, from the Adoption Date and prior to the Ownership Limitation Termination Date, no Person (other than, in the case of Common Shares, an Existing Holder) shall Beneficially Own Shares of any class in excess of the Ownership Limit for such class of Shares and no Existing Holder shall Beneficially Own Common Shares in excess of the Existing Holder Limit for such Existing Holder.

• In addition, except as provided in Section 4.5(j), from the Limitation Date and prior to the Ownership Limitation Termination Date, no Existing Holder shall Beneficially Own shares of Common Stock in excess of the Existing Holder Limit for such Existing Holder.

More Definitions of Ownership Limitation Termination Date

Ownership Limitation Termination Date means the first day, if any, on which holders of Shares determine, in accordance with any class voting procedures as provided in these Articles that it is no longer in the best interests of the Corporation to attempt to, or continue to, qualify as a REIT.

Ownership Limitation Termination Date means, with respect to any or all of the restrictions and limitations on Beneficial Ownership, Constructive Ownership and Transfer of Equity Shares set forth herein, the first day after the Adoption Date on which the Board of Trustees determines that it is no longer in the best interests of the Trust to attempt to, or continue to, qualify as a REIT or that compliance with such restriction or limitation on Beneficial Ownership, Constructive Ownership or Transfer of Equity Shares is no longer required in order for the Trust to qualify as a REIT.

Ownership Limitation Termination Date means, with respect to any or all of the restrictions and limitations on Beneficial Ownership, Constructive Ownership and Transfer of Equity Shares set forth herein, the first day after the Adoption Time on which the Board of Trustees determines that it is no longer in the best interests of the Trust to attempt to, or continue to, qualify as a REIT or that compliance with such restriction or limitation on Beneficial Ownership, Constructive Ownership or Transfer of Equity Shares is no longer required in order for the Trust to qualify as a REIT.

Ownership Limitation Termination Date means, with respect to any or all of the restrictions and limitations on Beneficial Ownership, Constructive Ownership and Transfer of Equity Shares set forth herein, the first day after the Adoption Time on which the Board of Trustees determines that it is no longer in the best interests of the Trust to attempt to, or continue

Ownership Limitation Termination Date means, with respect to any or all of the restrictions and limitations on Beneficial Ownership, Constructive Ownership and Transfer

Ownership Limitation Termination Date means the first Business Day following the second anniversary of the Distribution Date. “Securities Act” shall mean the Securities Act of 1933, as amended from time to time, or any successor statute thereto. Reference to any provision

Ownership Limitation Termination Date means the date, determined by the Board of Directors, as of which the provisions of Sections (4), (5) and (6) of this Article IV shall no longer apply.