Subject Assets definition
Examples of Subject Assets in a sentence
The BODI I Funds, as of the Signing Date, own (i) through STACK USA Holdco, the securities of STACK Infrastructure USA, LLC (“STACK USA”) set forth opposite such Person’s name on Schedule 1-A (the “STACK USA Subject Assets”), and (ii) through 394 Pacific Holdco, the securities of 394 Pacific DC Portland Domestic REIT, LLC (“394 Pacific”) set forth opposite such Person’s name on Schedule 1-A (the “394 Pacific Subject Assets” and, together with the STACK USA Subject Assets, the “Subject Assets ”).
Unless otherwise specifically agreed to by the BODI Fund I GP, any BODI Fund I LP who fails to validly complete, execute and deliver to the BODI Fund I GP a Transaction Election Form by the Election Deadline or delivers a non-conforming Transaction Election Form shall be deemed to have elected to sell all of its Subject Assets.
ODIT’s ownership of the Subject Assets will not cause (a) any amounts received or accrued by the Acquired REITs during the applicable Acquired REIT’s taxable year that includes the Closing Date to fail to be treated as “rents from real property” within the meaning of Section 856(d) of the Code by reason of Section 856(d)(2)(B) of the Code, or (b) any Acquired REIT to be “closely held” within the meaning of Section 856(a)(6) of the Code.
On or prior to Closing, ODIT will cause the New Investors to make capital contributions to ODIT in an aggregate amount sufficient to allow ODIT to acquire for cash the Subject Assets held by each of the Selling Entities.