REIT Covenants. Borrower shall cause REIT to comply with the following covenants:
REIT Covenants. (a) The Borrower shall at all times comply with all Requirements of Law and regulations necessary to maintain its status as, and election to be treated as, a REIT.
REIT Covenants. (a) At all times necessary after the Closing while any portion of any Note remains outstanding, Xxxxx Oxford will hold real property (within the meaning of Treasury Regulation section 1.856-3(d)).
REIT Covenants. The Company agrees that in the event that any Preferred Member is a REIT Entity Preferred Member is then notwithstanding anything to the contrary set forth in this Agreement, the Company acknowledges and agrees that:
REIT Covenants. The General Partner will use commercially reasonable efforts to ensure that each subsidiary of the Partnership intended to qualify as a REIT for United States federal income tax purposes will be organized in conformity with the requirements for qualification as a REIT under the Code. The General Partner commits to using commercially reasonable efforts to operate each such subsidiary in a manner that complies with the requirements for qualification as a REIT under the Code and avoids the imposition of tax under Code Section 857(b)(6) or (7). The General Partner agrees to use commercially reasonable efforts to cause any REIT in which the Partnership has an interest to issue consent dividends if and to the extent that the issuance of consent dividends is necessary for such REIT to avoid any liability for excise tax under Code Section 4981.
REIT Covenants. REIT will:
REIT Covenants. Loan Parties shall cause REIT to comply with the following covenants:
REIT Covenants. The Partnership shall at all times through and including the end of the calendar year following the first date on which there are no Preferred Units outstanding, cause the representations in Section 3.16(b) and Section 3.19 to remain true, correct and complete. Without limitation on Investors’ rights pursuant to Section 5.02, the Partnership’s shall cause to be provided to the Investors, at the Partnership’s cost: (a) within 25 days after the end of each calendar quarter, an estimate of the Partnership’s gross assets as of such quarter-end (broken down by amount and asset type for purposes of and as specified in Section 856(c)(4) of the Code) and gross income for the year through such quarter-end (broken down by income type as determined for purposes of and as specified in Section 856(c)(2) and (3) of the Code), (b) at least five (5) Business Days prior to each quarterly estimated tax payment date for calendar year corporations, an estimate of each Investor’s share of the Partnership’s taxable income or loss with respect to such calendar quarter, and (c) within 25 days after the end of each taxable year, (i) final gross assets as of such year-end (broken down by amount and asset type for purposes of and as specified in Section 856(c)(4) of the Code) and gross income for such year (broken down by income type as determined for purposes of and as specified in Section 856(c)(2) and (3) of the Code), and (ii) estimated information necessary for the Investors to prepare any required 1099-DIV forms. This Section 5.09 shall survive the termination of this Agreement for so long as the Investors own any Preferred Units or Common Units.
REIT Covenants. Notwithstanding anything to the contrary contained herein or elsewhere, at any time that the REIT is not a Guarantor, the REIT shall not:
REIT Covenants. The REIT shall not: (i) except for Permitted Transfers, make any Disposition of or encumber, pledge or hypothecate, whether directly or indirectly, all or any portion of its interest in Borrower or any rights to distributions therefrom; (ii) fail for any reason whatsoever, whether voluntarily or involuntarily, to be the sole general partner of Borrower; or (iii) cease to have REIT Status.
