REIT Qualification definition

REIT Qualification means the Purchaser's satisfaction of the requirements of Section 856(a) of the Code such that the Purchaser will continue to be treated as a real estate investment trust for federal income tax purposes.
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REIT Qualification. The Trust shall take all actions necessary to maintain the Trust's qualification as a REIT and, without the written consent of Buyer, shall take no action that would cause the Trust not to qualify as a REIT or fail to take any action that would preserve the Trust's qualification as a REIT.
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Examples of REIT Qualification in a sentence

  • Tax Status of the REIT Qualification as a “Mutual Fund Trust” This summary assumes that the REIT will constitute a “mutual fund trust” for the purposes of the Tax Act at all times and that the REIT will be able to elect, and will elect, to be deemed to be a “mutual fund trust” from the date of its settlement.

  • Newly Adopted Accounting Pronouncements ASU 2014-09, Revenue from Contracts with Customers (Topic 606) In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers (Topic 606).

  • See the section entitled “— REIT Qualification Tests — Prohibited Transactions” below.

  • REIT Qualification We believe that since the consummation of the IPO, we have qualified as a REIT and that it is in the best interests of our shareholders that we operate as a REIT.

  • Restrictions of Transfers Related to REIT Qualification In order for us to qualify as a REIT under the Internal Revenue Code, Shares of each Series must be owned by 100 or more persons during at least 335 days of a taxable year of 12 months (other than the first year for which an election to be taxed as a REIT has been made) or during a proportionate part of a shorter taxable year.

  • Our ability to satisfy the Asset Tests, as defined in “U.S. Federal Income Tax Considerations — REIT Qualification Tests — Asset Tests,” depends on our analysis of the characterization and fair market values of our assets, some of which are not susceptible to a precise determination, and for which we will not obtain independent appraisals.

  • Except with respect to a Special Optional Redemption and a REIT Qualification Optional Redemption (each as defined below), the Corporation may not redeem the Series A Preferred Stock prior to February 13, 2018.

  • REIT Qualification The Company elected to be taxed as a REIT under sections 856-860 of the Internal Revenue Code of 1986, as amended (the “Code”), commencing with the filing of its 2015 tax return for its tax year ended December 31, 2015.

  • REIT Qualification and Distribution Requirements As a REIT, the Company is not required to pay federal income tax on income that it distributes to its shareholders, provided that the amount distributed is equal to at least 95% of taxable income.

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Related to REIT Qualification

  • Qualification Date means the date as of which the Offering Statement was or will be qualified with the Commission pursuant to Regulation A, the Act and the Rules and Regulations; and

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

  • Qualification means any degree, diploma or certificate conferred upon a person after having been examined in respect of that person’s proficiency in a particular field of study;

  • Qualification Period means the period of time in which the List of Approved Suppliers shall be valid in accordance with the Tender; in which the Company shall have the right, at any time to issue Purchase Order(s) for Goods and/or to approach any or all of the Approved Suppliers and invite them, by way of RFQ to supply Goods, all in accordance with the terms and conditions of the Contract.

  • Independent Qualified Party means an investment banking firm, accounting firm or appraisal firm of national standing; provided, however, that such firm is not an Affiliate of the Company.

  • Impermissible Qualification means, relative to the opinion or certification of any independent public accountant as to any financial statement of any Obligor, any qualification or exception to such opinion or certification

  • Nondisqualification Opinion An Opinion of Counsel, prepared at the Trust’s expense and payable from the Collection Account, that a contemplated action will not cause (i) either the Lower-Tier REMIC or the Upper-Tier REMIC to fail to qualify as a REMIC or (ii) a “prohibited transaction” or “prohibited contributions” tax to be imposed on either the Lower-Tier REMIC or the Upper-Tier REMIC at any time that any Certificates are outstanding.

  • Capital Disqualification Event has the meaning specified in Section 1.1 of the Indenture.

  • Qualification Deadline has the meaning set forth in Section 2(a)(ii).

  • REIT Requirements has the meaning set forth in Section 5.2.

  • Qualifications , in relation to an employee, means any degree, diploma or other academic, technical or professional qualification relevant to the position which he held.

  • Qualify or "qualified" means to take the oath of office and begin performing the

  • TLAC Disqualification Event means OSFI has advised the Bank in writing that the bail-inable notes issued under the applicable pricing supplement will no longer be recognized in full as TLAC under the TLAC Guideline as interpreted by the Superintendent, provided that a TLAC Disqualification Event will not occur where the exclusion of those bail-inable notes from the Bank’s TLAC requirements is due to the remaining maturity of those bail-inable notes being less than any period prescribed by any relevant eligibility criteria applicable as of the issue date of those bail-inable notes.

  • REIT Status means, with respect to any Person, (a) the qualification of such Person as a real estate investment trust under the provisions of Sections 856 et seq. of the Code and (b) the applicability to such Person and its shareholders of the method of taxation provided for in Sections 857 et seq. of the Code.

  • Qualification Requirements means the qualification requirements as set forth in Section-2, Clause 2.1of RfQ;

  • Qualified voter means a person who is entitled to vote pursuant to the Constitution of Virginia and

  • 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.

  • Disqualification Event shall have the meaning ascribed to such term in Section 3.1(rr).