Examples of Boardwalk REIT in a sentence
Cash Distributions The Operating Trust will distribute to Boardwalk REIT, to the extent possible, and Boardwalk REIT will have the right to receive, all of the distributable income of the Operating Trust.
The trustees of the Operating Trust are also entitled to call for redemption, at any time, all or part of the outstanding Operating Trust Units registered in the name of Boardwalk REIT or any other holder of Operating Trust Units at the same redemption price as described above for each Operating Trust Unit called for redemption, calculated with reference to the date the trustees of the Operating Trust approved the redemption of the Operating Trust Units.
The Corporation, Boardwalk REIT, the Partnership, the Operating Trust and the General Partner, as applicable, have also entered into or will, on or before the Effective Date, also enter into the following Material Contracts: (a) the Limited Partnership Agreement.
Ancillary Agreements in Connection with the Acquisition and the Arrangement Exchange and Support Agreement On the Effective Date, Boardwalk REIT, the Operating Trust, the Partnership, the Corporation and BEI Subco will enter into the Exchange and Support Agreement to create certain support obligations with respect to the LP Class B Units.
If the trustees of the Operating Trust determine that it would be in the best interests of the Operating Trust, they may reduce for any period the percentage of distributable income to be distributed to Boardwalk REIT and may choose to repay principal on the Series 1 Notes in lieu of making distributions.
The Secondary Offering is expected to include the sale of not less than a 20% interest in the Common Shares and, ultimately, a 21.8% equity interest in Boardwalk REIT.
The value of each Operating Trust Unit so issued will be the redemption price thereof such that the issuance will not result in Boardwalk REIT being liable under the Tax Act to pay a tax imposed under Part XI of the Tax Act.
Nenno, Planning With Dynasty Trusts, SG041 ALI-ABA 1597, 1672 (2001) (laying out a typical approach for aggressive growth with 95% equities and calling it “maximum appreciation”), with id.
Boardwalk REIT will not be a trust company and will not be registered under applicable legislation governing trust companies as it will neither carry on nor intend to carry on the business of a trust company.
In the event that no Common Shares are sold in the Secondary Offering, BPCL’s effective interest in Boardwalk REIT (by reason of its ownership of the Common Shares and of REIT Units) would be 28.41% representing $77,008,779 of the net assets of the Corporation at September 30, 2003 and $1,147,634 of the net income for the nine months then ended, calculated in accordance with U.S. GAAP.