Related Tenant Owner definition

Related Tenant Owner means any Constructive Owner who also owns, directly or indirectly, an interest in a Tenant, which interest is equal to or greater than (i) 10% of the combined voting power of all classes of stock of such Tenant, (ii) 10% of the total number of shares of all classes of stock of such Tenant, or (iii) if such Tenant is not a corporation, 10% of the assets or net profits of such Tenant.
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Related Tenant Owner means any Constructive Owner who also -------------------- owns, directly or indirectly, an interest in a Tenant, which interest is equal to or greater than (i) 9.9% of the combined voting power of all classes of stock of such Tenant, (ii) 9.9% of the total number of shares of all classes of stock of such Tenant or (iii) if such Tenant is not a corporation, 9.9% of the assets or net profits of such Tenant, in each case only if such ownership would cause the Trust to fail the 95% gross income test set forth in Section 856(c)(2) of the Code or the 75% gross income test set forth in Section 856(c)(3) of the Code.
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Examples of Related Tenant Owner in a sentence

  • No Person shall Constructively Own Capital Stock in excess of the Related Tenant Limit for more than thirty (30) days following the date such Person becomes a Related Tenant Owner.

  • Any Transfer that, if effective, would result in any Related Tenant Owner Constructively Owning Capital Stock in excess of the Related Tenant Limit shall be void ab initio as to the Transfer of such Capital Stock which would be otherwise Constructively Owned by such Related Tenant Owner in excess of the Related Tenant Limit, and the intended transferee shall Acquire no rights in such Capital Stock.

  • If the Related Tenant Limit is still exceeded and the Related Tenant Event was not caused by the Related Tenant Owner in question, Shares owned directly or indirectly by such Related Tenant Owner (other than Shares owned directly or indirectly by an Excluded Holder) shall be automatically transferred to the Excess Shares Trust until the Related Tenant Owner does not own Shares in excess of the Related Tenant Limit.

  • If the Related Tenant Limit is still exceeded and the Related Tenant Event was not caused by the Related Tenant Owner in question, Shares (other than Smith Preferred Shares) owned directly or indirectly by such Related Tenant Owner shall be exchanged for Excess Shares until the Related Tenant Owner does not own Shares in excess of the Related Tenant Limit.

  • Any Transfer that, if effective, would result in any Related Tenant Owner Constructively Owning Capital Stock in excess of the Related Tenant Limit shall be void abinitio as to the Transfer of such Capital Stock which would be otherwise Constructively Owned by such Related Tenant Owner in excess of the Related Tenant Limit, and the intended transferee shall Acquire no rights in such Capital Stock.

  • Regency shall provide OCP, in accordance with the notice provisions contained in Section 0 hereof, with an annual list of tenants in a form substantially similar to Exhibit A attached hereto, asking OCP to verify that it is not a Related Tenant Owner (as defined in Article 5 of Regency's Articles of Incorporation) as to the tenants listed thereon, or shall make a comparable request for information, and OCP shall use reasonable best efforts to reply within 30 days after the receipt of the request.

  • If, after the designations described above in this subsection 7.4(vi), the Related Tenant Owner still owns shares of Stock in excess of the Related Tenant Limit, shares of Stock owned directly or indirectly by the Excluded Holders shall be designated pro rata for Excess Shares until the Related Tenant Owner does not own shares of Stock in excess of the Related Tenant Limit.

  • If, after the designation described above in this subsection 7.4(v), the Related Tenant Owner still owns shares of Stock in excess of the Related Tenant Limit, shares of Stock owned directly or indirectly by the Excluded Holders shall be designated pro rata for Excess Shares until the Related Tenant Owner does not own shares of Stock in excess of the Related Tenant Limit.

  • If, after the exchanges described above in this subsection (c)(vii), the Related Tenant Owner still owns Shares in excess of the Related Tenant Limit, Shares owned directly or indirectly by the Excluded Holders shall be exchanged pro rata for Excess Shares until the Related Tenant Owner does not own Shares in excess of the Related Tenant Limit.

  • If, at any time after the Adoption Date until the Restriction Termination Date, there is an event (a "Related Tenant Event") which would cause any Related Tenant Owner to Constructively Own shares of Stock in excess of the Related Tenant Limit, then shares of Stock which would cause the Related Tenant Limit to be exceeded shall be automatically designated Excess Shares to the extent necessary to eliminate such excess ownership.

Related to Related Tenant Owner

  • Lot Owner means a declarant or other person who owns a lot, or a lessee of a lot in a leasehold planned community whose lease expires simultaneously with any lease the expiration or termination of which will remove the lot from the planned community, but does not include a person having an interest in a lot solely as security for an obligation.

  • Tenant means a person entitled under a rental agreement to occupy a dwelling unit to the exclusion of others.

  • Sublessee means any party to whom Lessee grants the right to possess all or any portion of the Premises according to a Sublease.

  • Subtenant means any Person entitled to occupy, use, or possess any Premises under a Sublease.

  • Lessee means a person who acquires the right to possession and use of goods under a lease. Unless the context clearly indicates otherwise, the term includes a sublessee.

  • the Tenant means the party(ies) named on the tenancy agreement as the tenant of The Property.

  • Leased Property shall have the meaning given such term in Section 2.1.

  • Landlord shall have the meaning given such term in the preambles to this Agreement and shall also include their respective permitted successors and assigns.

  • Occupant means any person or persons over the age of eighteen years in possession of the property.

  • Leased space means individual storage space at a self-service storage facility which is rented to an occupant pursuant to a rental agreement.

  • Landlord Agreement means an agreement substantially in the form provided by Lender to Borrower or such other form as Lender may agree to accept.

  • Project Owner means the legal entity that ultimately owns the Project and to which Tax Credits will be allocated.