REIT AND UBTI REQUIREMENTS. Tenant understands that, in order for Landlord to qualify as a real estate investment trust (a "REIT") under the Internal Revenue Code of 1986, as amended (the "Code"), the following requirements must be satisfied. The parties intend that amounts to be paid by Tenant hereunder and received or accrued, directly or indirectly, by Landlord with respect to the Leased Property (including any rents attributable to personal property that is leased with respect thereto) will qualify as "rents from real property" (within the meaning of Code Section 856(d) and Section 512(b)(3)), and that neither party will take, or permit to take, any action that would cause any amount received by the Landlord under this Agreement to fail to qualify as such under the Code. Consistent with this intent, the parties agree that:
Appears in 5 contracts
Samples: Lease Agreement (American Retirement Corp), Lease Agreement (American Retirement Corp), Lease Agreement (American Retirement Corp)
REIT AND UBTI REQUIREMENTS. Tenant understands that, in order for Landlord to qualify as a real estate investment trust (a "“REIT"”) under the Internal Revenue Code of 1986, as amended (the "Code"), the following requirements must be satisfied. The parties intend that amounts to be paid by Tenant hereunder and received or accrued, directly or indirectly, by Landlord with respect to the Leased Property (including any rents attributable to personal property that is leased with respect thereto) will qualify as "“rents from real property" ” (within the meaning of Code Section 856(d) and Section 512(b)(3)), and that neither party will take, or permit to take, any action that would cause any amount received by the Landlord under this Agreement Lease to fail to qualify as such under the Code. Consistent with this intent, the parties agree that:
Appears in 4 contracts
Samples: Lease Agreement (CNL Lifestyle Properties Inc), Lease Agreement (CNL Healthcare Trust, Inc.), Lease Agreement (CNL Healthcare Trust, Inc.)
REIT AND UBTI REQUIREMENTS. Tenant understands that, in order for Landlord to qualify as a real estate investment trust (a "“REIT"”) under the Internal Revenue Code of 1986, as amended (the "Code"), the following requirements must be satisfied. The parties intend that amounts to be paid by Tenant hereunder and received or accrued, directly or indirectly, by Landlord with respect to the Leased Property (including any rents attributable to personal property that is leased with respect thereto) will qualify as "“rents from real property" ” (within the meaning of Code Section 856(d) and Section 512(b)(3)), and that neither party will take, or permit to take, any action that would cause any amount received by the Landlord under this Agreement Lease to fail to qualify as such under the Code. Consistent with this intent, the parties agree that:
Appears in 2 contracts
Samples: Lease Agreement (CNL Lifestyle Properties Inc), Sublease Agreement (CNL Income Properties Inc)
REIT AND UBTI REQUIREMENTS. Tenant understands that, in order for Landlord to qualify as a real estate investment trust (a "“REIT"”) under the Internal Revenue Code of 1986, as amended (the "“Code"”), the following requirements must be satisfied. The parties intend that amounts to be paid by Tenant hereunder and received or accrued, directly or indirectly, by Landlord with respect to the Leased Property (including any rents attributable to personal property that is leased with respect thereto) will qualify as "“rents from real property" ” (within the meaning of Code Section 856(d) and Section 512(b)(3)), and that neither party will take, or permit to take, any action that would cause any amount received by the Landlord under this Agreement to fail to qualify as such under the Code. Consistent with this intent, the parties agree that:
Appears in 1 contract
Samples: Master Lease Agreement (Care Investment Trust Inc.)
REIT AND UBTI REQUIREMENTS. Tenant understands that, in order for Landlord to qualify as a real estate investment trust (a "“REIT"”) under the Internal Revenue Code of 1986, as amended (the "“Code"”), the following requirements must be satisfied. The parties intend that amounts to be paid by Tenant hereunder and received or accrued, directly or indirectly, by Landlord with respect to the Leased Property (including any rents attributable to personal property that is leased with respect thereto) will qualify as "“rents from real property" ” (within the meaning of Code Section 856(d) and Section 512(b)(3)), and accordingly, it is the intent of the parties that neither party will take, or permit to take, any action that would cause any amount received by the Landlord under this Agreement to fail to qualify as such under the Code. Consistent with this intent, the parties agree that:: 1240817
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