DRIP Shares means shares of Common Stock offered to stockholders of the Company pursuant to the DRIP as currently in effect at any time, (c) the term “Offering” means the Current Offering or any Follow-On Offering, as appropriate, and as used herein refers to a public offering of Common Stock pursuant to the Registration Statement on Form S-11 filed with the Commission for the registration of the Offered Shares to be sold in such public offering, and (d) the term “Offered Shares” means the Primary Shares, together with DRIP Shares, to be sold in any Offering. The differences between the classes of shares of Common Stock and the eligibility requirements for each class are described in detail in the Prospectus (as hereinafter defined). Primary Shares are to be issued and sold to the public at a purchase price equal to the Company’s net asset value (“NAV”) applicable to the class of shares being purchased on such day determined after the close of business on each business day, divided by the number of shares of that class outstanding as of the close of business on such date (as calculated in accordance with the procedures described in the Prospectus), plus any applicable selling commissions, subject in certain circumstances to waivers or reductions of such selling commissions. For stockholders who participate in the DRIP, the cash distributions attributable to the class of shares that each stockholder owns will be automatically invested in additional shares of the same class. DRIP Shares are to be issued and sold to stockholders of the Company at a purchase price equal to the Company’s NAV per share of that share class on such day prior to giving effect to any share purchases or redemptions to be effected on such day (as calculated in accordance with the procedures described in the Prospectus, as hereinafter defined). The Company hereby agrees with you, the Dealer Manager, as follows:
DRIP Shares means shares of Common Stock offered to stockholders of the Company pursuant to the DRIP in effect at any time, (c) the term “Offering” means the Current Offering or any Follow-On Offering, as appropriate, and as used herein refers to a public offering of Common Stock pursuant to the Registration Statement on Form S-11 filed with the SEC for the registration of the Offered Shares to be sold in such public offering, and (d) the term “Offered Shares” means the Primary Shares, together with DRIP Shares, to be sold in any Offering.
DRIP Shares means shares of Common Stock offered to stockholders of the Company pursuant to the DRIP as currently in effect at any time, (c) the term “Offering” means the Current Offering or Follow-On Offering, as appropriate, and as used herein refers to a public offering of Common Stock pursuant to the Registration Statement on Form S-11 filed with the Commission for the registration of the Offered Shares to be sold in such public offering and (d) the term “Offered Shares” means the Primary Shares, together with DRIP Shares, to be sold in any Offering. Primary Shares are to be issued and sold to the public at a purchase price equal to the Company’s net asset value (“NAV”) applicable to the class of shares being purchased on such day determined after the close of business on each business day, divided by the number of shares of that class outstanding as of the close of business on such date (as calculated in accordance with the procedures described in the Prospectus, as hereinafter defined), plus any, applicable selling commissions, subject in certain circumstances to waivers or reductions thereof. For stockholders who participate in the DRIP, the cash distributions attributable to the class of shares that each stockholder owns will be automatically invested in additional shares of the same class. DRIP Shares are to be issued and sold to stockholders of the Company at a purchase price equal to the Company’s NAV per share of that share class on such day prior to giving effect to any share purchases or redemptions to be effected on such day (as calculated in accordance with the procedures described in the Prospectus, as hereinafter defined). A registration statement on Form S-11 has been prepared by the Company in accordance with applicable requirements of the Securities Act and the applicable rules and regulations of the Commission promulgated thereunder (the “Securities Act Regulations”), for the registration of the Offered Shares to be sold in the Current Offering. Such registration statement includes a preliminary prospectus and such amendments thereto and such amended prospectuses as may have been required through the date hereof, and the Company will file such additional amendments and supplements thereto as may hereafter be required. Copies of such registration statement and each amendment thereto have been or will be
Examples of DRIP Shares in a sentence
The Company will not pay to the Dealer Manager any selling commissions in respect of the purchase of any DRIP Shares.
The Company will not pay to the Dealer Manager any dealer manager fees in respect of the purchase of any Class S shares, Class D shares, Class I shares or DRIP Shares.
Notwithstanding the foregoing, the Company has reserved the right to reallocate the Offered Shares between the Primary Shares and the DRIP Shares.
Dealer shall not receive dealer manager fees for sales of any DRIP Shares, or for sales of any Class S, Class D or Class I shares, whether in the Primary Offering or pursuant to the DRIP.
The DRIP Shares will be issued and sold to stockholders of the Company at a purchase price equal to the Primary Share offering price per share before any applicable selling commissions and dealer manager fees (“transaction price”) of the applicable class of shares on the date the distribution is payable.
More Definitions of DRIP Shares
DRIP Shares means shares of Common Stock offered to stockholders of the Company pursuant to the DRIP in effect at any time, and (c) the term “Offered Shares” means the Primary Shares, together with DRIP Shares, to be sold in the Offering or any Follow-On Offering. The Company may reallocate the Offered Shares between the Primary Shares and the DRIP shares. The Company is the sole general partner of Procaccianti Hotel REIT, L.P., a Delaware limited partnership that serves as the Company’s operating partnership (the “Operating Partnership”). The Company will be managed by Procaccianti Hotel Advisors, LLC (the “Advisor”) pursuant to the advisory agreement entered into among the Company, the Advisor and the Operating Partnership. Pursuant to the Dealer Manager Agreement (as defined below), the Company and the Operating Partnership have represented and warranted to the Dealer Manager as follows: A registration statement on Form S-11 (File No. 333-217578), including a preliminary prospectus, for the registration of the Offered Shares to be sold in the Offering has been prepared by the Company in accordance with applicable requirements of the Securities Act, and the applicable rules and regulations of the SEC promulgated thereunder (the “Securities Act Regulations”), and was initially filed with the SEC on May 1, 2017. The Company has prepared and filed such amendments thereto and such amended preliminary prospectuses as may have been required up to the Effective Date (as defined below) and will file such additional amendments and supplements thereto as may hereafter be required.
DRIP Shares means shares of Common Stock offered to stockholders of the Company pursuant to the DRIP in effect at any time, and (c) the term “Offered Shares” means the Primary Shares, together with DRIP Shares, to be sold in the Offering or any Follow-On Offering. The Company may reallocate the Offered Shares between the Primary Shares and the DRIP shares. The Company is the sole general partner of Procaccianti Hotel REIT, L.P., a Delaware limited partnership that serves as the Company’s operating partnership (the “Operating Partnership”). The Company will be managed by Procaccianti Hotel Advisors, LLC (the “Advisor”) pursuant to the advisory agreement entered into among the Company, the Advisor and the Operating Partnership. Pursuant to this Agreement, the Company and the Operating Partnership hereby jointly and severally agree with the Dealer Manager as follows:
DRIP Shares has the meaning set forth in Section 2(c).
DRIP Shares means the A-6 shares acquired by the Class Members during the Class Period xxx X-0’s DRIP.
DRIP Shares means shares of Common Stock offered to stockholders of the Company pursuant to the DRIP in effect at any time, (c) the term “Offering” means the Current Offering or any Follow-On Offering, as appropriate, and as used herein refers to a public offering of Common Stock pursuant to the Registration Statement on Form S-11 filed with the SEC for the registration of the Offered Shares to be sold in such public offering, and (d) the term “Offered Shares” means the Primary Shares, together with DRIP Shares, to be sold in any Offering. Class T Shares will only be offered in the Primary Offering of the Current Offering and will not be offered in the Primary Offering for any Follow-On Offering. Class T Shares will continue to be offered in the DRIP in connection with both the Current Offering and any Follow-On Offering.”
DRIP Shares means shares of Common Stock offered to stockholders of the Company pursuant to the DRIP as currently in effect at any time, (c) ”Offering” means the Current Offering or any Follow-On Offering, as appropriate, and as used herein refers to a public offering of Common Stock pursuant to the Registration Statement on Form S-11 filed with the SEC for the registration of the Offered Shares to be sold in such public offering, and (d) ”Offered Shares” means the Primary Shares, together with DRIP Shares, to be sold in any Offering. The Company has filed one or more registration statements with the SEC that are listed on Schedule 1 to this Agreement (each, a “Registration Statement”), which Schedule 1 may be amended from time to time with the written consent of the Company and the Dealer Manager. In this Agreement, unless explicitly stated otherwise, the “Registration Statement” means, at any given time, each of the registration statements listed on Schedule 1, as such Schedule 1 may be amended from time to time, as each such registration statement is finally amended and revised at the effective date of the registration statement (including at the effective date of any post-effective amendment thereto). The differences between the class of shares of Common Stock and the eligibility requirements are each shares are described in detail in the Prospectus (as defined below). The Shares are to be offered and sold to the public as described under the caption “Plan of Distribution” in the Prospectus. Except as otherwise agreed by the Company and the Dealer Manager, Shares sold through the Dealer Manager are to be sold through the Dealer Manager, as the dealer manager, and the broker-dealers and other qualified financial intermediaries (each a “Selected Dealer” and collectively, the “Selected Dealers”) with whom the Dealer Manager has entered into or will enter into a selected dealer agreement related to the distribution of Shares substantially in the form attached to this Agreement as Exhibit “A” or such other form as approved by the Company (each a “Selected Dealer Agreement”) at a purchase price equal to the transaction price (as described in the Prospectus and generally equal to the Company’s prior month’s net asset value (“NAV”) per share applicable to the class of Shares being purchased (as calculated in accordance with the procedures described in the Prospectus), or at a different offering price made available to investors in cases where the Company believes there ha...