REIT Election definition

REIT Election means the election by the Issuer (or its applicable parent entity) to be treated as a REIT; provided that (x) the Issuer (or its applicable parent entity) has publicly announced its intention to become a REIT and (y) as of such election, on a pro forma basis after giving effect to all related REIT Conversion Transactions, the REIT Conversion Transaction Requirement is satisfied.

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REIT Election means an election to be taxed as a REIT under Code Section 856(c)(1); and

REIT Election means an election by any Restricted Subsidiary to be treated as a REIT (other than a public REIT).

Examples of REIT Election in a sentence

Following the REIT Election, the Borrower (or applicable parent entity) will, at all times, conduct its affairs in a manner so as to continue to qualify as a REIT for U.S. federal income tax purposes until such time as the board of directors of the Borrower (or applicable parent entity) deems it in the best interests of the Borrower and its stockholders not to remain qualified as a REIT.
The Company shall, for any reason, lose or fail to maintain its REIT Status after the REIT Election Effective Date.
As long as any Revolving Credit Commitment remains outstanding, Parent shall not permit the Consolidated Net Secured Leverage Ratio as of the last day of any Test Period to be higher than 3.50 to 1.00 (such ratio, the “Maximum Consolidated Net Secured Leverage Ratio”); provided, that the Maximum Consolidated Net Secured Leverage Ratio will be increased to 4.00 to 1.00 upon the occurrence of the REIT Election.
The Company, (a) prior to the REIT Election Effective Date, will not be either an association, publicly traded partnership or taxable mortgage pool, that is taxable as a corporation for federal tax purposes and (b) after the REIT Election Effective Date, will be organized and will be operated in a manner that will allow it to qualify for REIT Status commencing with the taxable year in which the REIT Election Effective Date occurs and will maintain REIT Status on a continuous basis since such date.
Following the REIT Election, the Borrower shall at all times conduct its affairs, and shall cause its affiliates to conduct their affairs, in a manner so as to allow Holdings (or its successor) to qualify as a REIT under all applicable laws, rules and regulations until such time as the board of directors of Holdings (or its successor) deems it in the best interests of the Holdings (or its successor) and its stockholders for Holdings (or its successor) not to remain qualified as a REIT.

More Definitions of REIT Election

REIT Election means Parent’s election to be, and qualification to be taxed as, a real estate investment trust for U.S. federal income tax purposes.

REIT Election means Holdings’ election to be, and qualification to be taxed as, a REIT for U.S. federal income tax purposes.

REIT Election means the Issuer’s election to be, and qualification to be taxed as, a real estate investment trust for U.S. federal income tax purposes.

REIT Election shall have the meaning set forth in Section 5.2.10(h) hereof.

REIT Election means an election by the General Partner or any successor to the General Partner to qualify as a REIT.

REIT Election has the meaning set forth in the preamble to this Agreement.

REIT Election means an election by the Parent REIT or any successor to the Parent REIT to qualify as a REIT.