Examples of REIT Act in a sentence
If all the conditions to the Merger set forth in Article VIII shall have been fulfilled or waived (and this Agreement shall not have been terminated as provided in Article IX), AIP and RELP shall cause Articles of Merger satisfying the requirements of the Texas REIT Act and Articles of Merger satisfying the requirements of the LP Act to be properly executed, verified and delivered for filing in accordance with the LP Act and the Texas REIT Act on the Closing Date.
At the same time, the Company, being a SZIT, is required to determine its corporate tax base with a view to the provisions of the REIT Act, but it is only subject to corporate tax for the calculated base in certain cases (e.g. on a tax base proportionate to the income from related parties), and in view of this, the corporate income tax was set at HUF 1,873,000 (see the calculation below), and the payable innovation contribution obligation of HUF 12,760,000 was calculated as payable by the Company in 2020.
The shareholders shall be subject to the obligations set forth in Articles 10 and comply with the REIT Act.
Except as otherwise provided by applicable law or the Declaration of Trust, the power to alter, amend or repeal these Bylaws or to adopt new Bylaws shall be vested in the Trust Managers and (to the extent not inconsistent with the Texas REIT Act and the Declaration of Trust and specified in the notice of the meeting) the shareholders.
Domestic and foreign dividends Dividends distributed or capitalised by domestic or foreign corporations on units held as business assets are generally not taxable for corporations, with the exception of dividends for corporations under the German REIT Act (REIT-Gesetz - REITG)5).
The Trust shall not engage in any activities beyond the scope of the purpose of a real estate investment trust formed pursuant to the Texas REIT Act, as such purpose is set forth in Article Two hereof.
The Trust intends to make investments that are consistent with the applicable requirements of the Internal Revenue Code of 1986, as amended, and the Texas REIT Act, as amended, and related regulations with respect to the composition of the Trust's investments and the derivation of its income.
The provisions of these Bylaws shall be subject to all valid and applicable laws, including, without limitation, the Texas REIT Act as now or hereafter amended, and in the event that any of the provisions of these Bylaws are found to be inconsistent with or contrary to any such valid laws, the latter shall be deemed to control and these Bylaws shall be deemed modified accordingly, and, as so modified, shall continue in full force and effect.
At the same time, the Company, being a REIT, is required to determine its corporate tax base with a view to the provisions of the REIT Act, but it is only subject to corporate tax for the calculated base in certain cases (e.g. on a tax base proportionate to the income from related parties), and in view of this, the corporate income tax was set at HUF 573,000 (see the calculation below), and the payable innovation contribution obligation of HUF 12,008,000 was calculated as payable by the Company in 2021.
Dividends from German and foreign companies, which are distributed in respect of units held in operating assets or which are reinvested, are, with the exception of dividends under the REITG (Ger- man REIT Act), tax-exempt for corporations5.