Affiliated REIT definition
Examples of Affiliated REIT in a sentence
Each Affiliated REIT is a REIT and is subject to the provisions of Sections 856 through and including 860 of the Code.
Subject to the provisions of this Section 6.5(b), a Member that has an Affiliated REIT may require that the Managing Member submit such questionnaires to the Property Manager.
Any Member that has an Affiliated REIT may request from the Managing Member, no more frequently than quarterly per Member, a copy of any and all questionnaires that will be submitted to the Property Manager by the Managing Member and that are relevant to the determination of whether any income generated by the Property or services provided by the Company (or any Subsidiary) would violate the terms of Section 6.5(a).
Notwithstanding anything herein to the contrary, the Managing Member and the Company shall at all times conduct the business of the Company in such manner that will enable each Affiliated REIT to qualify as a REIT and the Company, assuming it were a REIT, would continue to qualify as a REIT and that it (and each Affiliated REIT) would not be subject to any taxes under Section 857 of the Code.
If IMH, ICH or any Affiliated REIT does not receive a Response from the Principal Party, within five (5) Business Days, or such Principal Party declines such Notice of First Refusal, IMH, ICH or any Affiliated REIT, as the case may be shall have the right to pursue such Investment Opportunity, either directly or through any of their respective Operating Subsidiaries.