Protective TRS Election. On the date of the purchase of Shares pursuant to the Offer, the Company shall make a protective election jointly with Parent for the Company to be a “taxable REIT subsidiary” (a “TRS”), as defined in Section 856(l)(1) of the Code, of Parent by executing an Internal Revenue Service Form 8875 (or any successor form), effective as of the date of the purchase of Shares pursuant to the Offer, which election shall state that it is to be effective only if the Company does not qualify as a REIT for any period covered by such election.
Appears in 4 contracts
Samples: Agreement and Plan of Merger (Falcon Financial Investment Trust), Agreement and Plan of Merger (Istar Financial Inc), Agreement and Plan of Merger (Istar Financial Inc)
