REIT Member definition

REIT Member means any Member, if such Member is a REIT or a direct or indirect subsidiary of a REIT.

REIT Member means a Member or Assignee that is, or has made an election to qualify as, a REIT.

REIT Member means any Member which is (a) CLNS Credit or any Affiliate of CLNS Credit to the extent such Person has in place an election to qualify as a REIT and (b) a “qualified REIT subsidiary” (within the meaning of Code Section 856(i)(2)) or disregarded entity (determined for federal income tax purposes) of any such Person, referred to in clause (a).

Examples of REIT Member in a sentence

• The purpose of the limitations contained in this Section 15.11 is to prevent any REIT Member from failing to qualify as a REIT under the Code by reason of such REIT Member’s share of items, including distributions, reimbursements, fees, expenses or indemnities, receivable directly or indirectly from the Company, and this Section 15.11 shall be interpreted and applied to effectuate such purpose.

• The purpose of the limitations contained in this Section 15.12 is to prevent any REIT Member from failing to qualify as a REIT under the Code by reason of such REIT Member’s share of items, including distributions, reimbursements, fees, expenses or indemnities, receivable directly or indirectly from the Company, and this Section 15.12 shall be interpreted and applied to effectuate such purpose.

• The Company shall also provide, as soon as practicable after receipt of a request from a REIT Member, at the Company’s sole cost, any other information necessary for any Indirect REIT Owner to determine or preserve its status for the foregoing taxable year as a REIT for U.S. federal income tax purposes, including, for the avoidance of doubt, any information necessary to comply with the requirements of Code Sections 856-860 and 4981.

• Notwithstanding the foregoing provisions of this Section 9.4(c), the Company may enter into a REIT Prohibited Transaction if it receives the prior written approval of the REIT Member specifically acknowledging that the REIT Member is approving a REIT Prohibited Transaction pursuant to this Section 9.4(c).

• The purpose of the limitations contained in this Section 15.12 is to prevent any REIT Member from failing to qualify as a REIT under the Code by reason of such REIT Member's share of items, including distributions, reimbursements, fees, expenses or indemnities, receivable directly or indirectly from the Company, and this Section 15.12 shall be interpreted and applied to effectuate such purpose.

More Definitions of REIT Member

REIT Member means (a) the Managing Member or any Affiliate of the Managing Member to the extent such person has in place an election to qualify as a REIT and (b) any Disregarded Entity with respect to any such Person.

REIT Member means any Member that has elected to qualify as a REIT or who is an Affiliate of a Person who has elected to qualify as a REIT. Investor is a REIT Member.

REIT Member means a direct or indirect (through another partnership or limited liability company) Member of the Venture that is not a U.S. Person and for whom the direct or indirect receipt of Real Estate Proceeds would have a material adverse tax consequence on such Member. For the avoidance of doubt PGGM is a REIT Member.

REIT Member means (a) the Parent or any Affiliate of the Parent to the extent such Person has in place an election to be subject to tax as a REIT and (b) any QRS or other disregarded entity of any such Person referenced in clause (a) above.

REIT Member means any Member, if such Member is a REIT or a direct or indirect subsidiary of a REIT. “ REIT Requirements ” shall mean the requirements for qualifying as a REIT under the Code and Regulations.

REIT Member means (a) MIC or any Affiliate of MIC to the extent such Person has in place an election to qualify as a REIT and, (b) any Disregarded Entity with respect to any such Person.

REIT Member means any Member which is (a) BrightSpire Capital or any Affiliate of BrightSpire Capital to the extent such Person has in place an election to qualify as a REIT and (b) a “qualified REIT subsidiary” (within the meaning of Code Section 856(i)(2)) or disregarded entity (determined for federal income tax purposes) of any such Person, referred to in clause (a).