REIT Termination Event Sample Clauses

REIT Termination Event. Upon the occurrence of any of the following events, the REIT Parties may, at their election exercised in their sole and absolute discretion and upon written notice to the Remington Parties, terminate the Remington Exclusivity Rights:
Sample 1Sample 2Sample 3See All (6)
AutoNDA by SimpleDocs
REIT Termination Event. REIT Termination Event shall mean the earliest to occur of (1) the determination by the Manager that the Company shall cease to qualify as a REIT; (2) the determination by the Manager, based upon the advice of counsel, that the Company has ceased to qualify as a REIT; (3) the “determination”, as defined by IRC 1313(a), that the Trust has ceased to qualify as a REIT; (4) the filing of a federal tax Return, with the consent of the Manager, for any taxable year, in which the Company does not elect to be taxed as REIT.
Sample 1Sample 2Sample 3See All (5)
REIT Termination Event. In the event of any of the following events, reit parties may, in their sole discretion and by written notification to the Remington parties, terminate remington's exclusivity rights: (i) the Manager shall not be considered an eligible independent contractor under Internal Revenue Code 856(ii) If Xxxxxxxxxx X. Xxxxxxx resigns as CEO of reit without good reason; (iii) If Xxxxxxxxxx X. Xxxxxxx'x employment contract is terminated for a reason; (iv) Any of the Remington Parties shall cease to be controlled by Xxxxxx Xxxxxxx, Xx. and/or Xxxxxxxxxx X. Xxxxxxx and/or his family associations or trusts, the sole members of which shall at all times be Xxxxxx Xxxxxxx, Xx. or Xxxxxxxxxx </PAGE>Xxxxxxx (including stepchildren) and spouse of any of the above, control shall mean(a) the direct or indirect holding of the capital stock and voting power of such Remington Parties, or (b) the management or control of the power to direct or control the management and policies of the -3- Remington Parties, or the management of <PAGE> in ceos, presidents, presidents or similar positions, where they are actively involved and/or involved in the provision of such control or control and spend considerable time under the direction of the Remington Parties; Upon receipt of a written notification by the Remington parties of the termination of remington's exclusivity rights from the REIT parties, the Remington exclusivity rights set out in this Agreement shall cease; however, all other terms and conditions of this Agreement shall remain in full force and effect, including reit exclusivity rights, until this Agreement expires or otherwise terminates as permitted by this Agreement. 4. REIT
Sample 1

Related to REIT Termination Event

  • Additional Termination Event If any "Additional Termination Event" is specified in the Schedule or any Confirmation as applying, the occurrence of such event (and, in such event, the Affected Party or Affected Parties shall be as specified for such Additional Termination Event in the Schedule or such Confirmation).

  • Other Termination Events Subject to Section 6.4(b), this Agreement shall terminate with respect to all Parties upon the earliest to occur of (a) a written agreement among the Parties to terminate this Agreement, (b) the Closing and (c) the delivery of a written notice from the Majority Initial Consortium Members.

  • Terminating Event A “Terminating Event” shall mean any of the events provided in this Section 3:

  • Default Termination a. In the event that the Property has been sold contrary to or any person bids in contravention of the provisions in Clause 4 above, then such sale shall be cancelled and become null and void and of no further effect wherein all monies paid by the Purchaser hitherto including the Deposit shall be forfeited absolutely and immediately.

  • Termination Event; Notice The Purchase Contracts and all obligations and rights of the Company and the Holders thereunder, including, without limitation, the rights of the Holders to receive and the obligation of the Company to pay any Purchase Contract Payments (including any deferred or accrued and unpaid Purchase Contract Payments), if the Company shall have such obligation, and the rights and obligations of Holders to purchase Common Stock, shall immediately and automatically terminate, without the necessity of any notice or action by any Holder, the Purchase Contract Agent or the Company, if, prior to or on the Purchase Contract Settlement Date, a Termination Event shall have occurred.

  • Transfer to Avoid Termination Event If either an Illegality under Section 5(b)(i)(1) or a Tax Event occurs and there is only one Affected Party, or if a Tax Event Upon Merger occurs and the Burdened Party is the Affected Party, the Affected Party will, as a condition to its right to designate an Early Termination Date under Section 6(b)(iv), use all reasonable efforts (which will not require such party to incur a loss, excluding immaterial, incidental expenses) to transfer within 20 days after it gives notice under Section 6(b)(i) all its rights and obligations under this Agreement in respect of the Affected Transactions to another of its Offices or Affiliates so that such Termination Event ceases to exist. If the Affected Party is not able to make such a transfer it will give notice to the other party to that effect within such 20 day period, whereupon the other party may effect such a transfer within 30 days after the notice is given under Section 6(b)(i). Any such transfer by a party under this Section 6(b)(ii) will be subject to and conditional upon the prior written consent of the other party, which consent will not be withheld if such other party's policies in effect at such time would permit it to enter into transactions with the transferee on the terms proposed.

  • Servicer Termination Event For purposes of this Agreement, each of the following shall constitute a “Servicer Termination Event”:

  • Additional Termination Events The following Additional Termination Events will apply:

  • Termination Events This Agreement may, by notice given prior to or at the Closing, be terminated:

Time is Money Join Law Insider Premium to draft better contracts faster.