CREIS definition
Examples of CREIS in a sentence
Each notice pursuant to this Section 6.03 shall be accompanied by a statement of a Responsible Officer of CREIS or the Borrower setting forth details of the occurrence referred to therein and stating what action the Borrower has taken and proposes to take with respect thereto.
QB\033578.02011\28349393.9 Notwithstanding anything in this Section 7.06 to the contrary, CREIS shall be permitted at all times to distribute the minimum amount of dividends necessary for CREIS to maintain its tax status as a real estate investment trust.
Notwithstanding anything in this Section 7.06 to the contrary, CREIS shall be permitted at all times to distribute the minimum amount of dividends necessary for CREIS to maintain its tax status as a real estate investment trust.
Administrative Agent shall have reasonably determined that no Material Adverse Change has occurred with respect to Borrower or CREIS, or when taken as a whole, the Subsidiary Guarantors, since the most recent financial statements and reports provided to Administrative Agent.
The Dividend Payout Ratio of CREIS shall not, in any event, exceed ninety-five percent (95%).
As of the end of each fiscal quarter of CREIS commencing with the fiscal quarter ending September 30, 2011, Total Stockholders Equity plus Redeemable Common Stock, as reported on its 10-K or 10-Q SEC filings shall not be less than $9,000,000.00 plus 75% of the Net Equity Contributions or sales of treasury stock received by CREIS after December 31, 2011.
Notwithstanding anything in this Agreement to the contrary, Borrower and CREIS will be required to timely deliver such financial information as may be necessary to promptly and accurately calculate any financial ratio or covenant required under this Agreement even if such information is not specifically enumerated herein.
Borrower and CREIS shall be deemed to have complied with the foregoing requirements, if CREIS provides to Administrative Agent CREIS’s Form 10-Q that is filed with the SEC within the time frame set forth above.
As of the end of each fiscal quarter of CREIS' commencing with the fiscal quarter ending September 30, 2011, Total Liabilities shall not exceed (i) 75% of CREIS' Total Asset Value during the Tier 1 Period, and (ii) 70% of CREIS' Total Asset Value during the Tier 2 Period.
As of the end of each fiscal quarter of CREIS commencing with the fiscal quarter ending September 30, 2011, the ratio of EBITDA for the four (4) fiscal quarters ending on such date to Consolidated Debt Service for the four (4) fiscal quarters ending on such date shall not be less than 1.5:1.00.