Inland Properties definition
Examples of Inland Properties in a sentence
The statement of revenues and certain expenses of the GE Capital Portfolio, the Fortress Properties and the Inland Properties included in the reports filed by the Company and incorporated by reference into the Prospectus, present fairly in all material respects such revenues and certain expenses (subject, in the case of unaudited quarterly financial statements, to normal year-end adjustments).
The Inland Properties REIT Entity shall file an IRS Form 8832 (and any applicable state or local income tax election forms) to elect to be classified as a corporation for federal and applicable state and local income tax purposes, which election shall be effective on or prior to the Subsequent Contribution Closing Date relating to the first contributed Inland Equity Interests.
It is expressly understood that the amount of any Additional Capital Contribution by PGGM PRE Fund made in connection with the acquisition of any Additional Property shall in no circumstances constitute PIC Funds, even if (x) said Additional Capital Contribution is made prior to the contribution of the Inland Equity Interests relating to the Inland Properties, and (y) all Inland Equity Interests in one or more of the Property Entities owning Inland Properties are never contributed to the Partnership.
Within a reasonable time after the consummation of the contribution by the Partnership of the Inland Equity Interests related to the Initial Inland Properties to the Inland Properties REIT Entity, the General Partner shall take any and all steps necessary to cause the Inland Properties REIT Entity to be qualified as a Domestically Controlled REIT.
Upon the earlier to occur of (A) the Stabilization (as defined herein) of the Four ▇▇▇▇▇▇ Property, or (B) March 31, 2011, PGGM PRE Fund may thereafter for the balance of the Investment Period, select the Four ▇▇▇▇▇▇ Property for contribution to the Partnership, in the same manner as all other Additional Inland Properties identified in Schedule 6.2(a)-2.
The Partnership and the Inland Properties REIT Entity shall execute a contribution agreement substantially in the form agreed to by the General Partner, the Limited Partners and the Partnership as of the date hereof (each, a “REIT Contribution Agreement”).
With respect to each Inland Property, as of 12:00 A.M. on the Business Day immediately following the Contribution Closing Date relating to such Inland Property (the “Subsequent Contribution Closing Date”) the Partnership shall contribute such Inland Equity Interests to the Inland Properties REIT Entity.
As the initial Inland Capital Contribution, Inland shall contribute to the Partnership (i) the Inland Equity Interests in the Property Entities owning the Initial Inland Properties and (ii) cash as described in Section 6.2(c) (the “Inland Initial Capital Contributions”).