INREIT definition
Examples of INREIT in a sentence
In the event any INREIT Shares are exchanged by INREIT pursuant to such offer, the Partnership shall redeem an equivalent number of the General Partner’s and INREIT Partnership Units for an equivalent purchase price based on the application of the Conversion Factor.
Moreover, if INREIT makes a cash tender offer or other offer to acquire INREIT Shares, then as the General Partner, it shall cause the Partnership to make a corresponding offer to the General Partner and INREIT to acquire an equal number of Partnership Units held by the General Partner and INREIT.
The General Partner shall use its reasonable efforts to cause the Partnership to distribute amounts sufficient to enable INREIT to pay shareholder dividends that will allow INREIT to: (i) meet its distribution for qualification as a REIT as set forth in Section 857(a)(1) of one Code and (ii) avoid any federal income or excise tax liability imposed by the Code.
INREIT need not file a separate Registration Statement, but may file one Registration Statement covering Exchange Shares issuable to more than one Limited Partner.
Such calculation shall take into account, among other things, the kind and amount of securities, cash and other property that was receivable upon such merger or consolidation by a holder of INREIT Shares or options, warrants or other rights relating thereto, and to which a holder of Partnership Units could have acquired had such Partnership Units been exchanged immediately prior to such merger or consolidation.
In September of 2005, Poseidon Resources and AES executed a Ground Lease and Easement for a term of 35 years from the anniversary of the commercial operation date of the desalination facility with an option to extend the term for up to two consecutive additional periods of ten years that is binding on successors in interest.
The Survivor shall in good faith arrive at a new method for the calculation of the Cash Amount, the INREIT Shares Amount and Conversion Factor for a Partnership Unit after any such merger or consolidation so as to approximate the existing method for such calculation as closely as reasonably possible.
In the event INREIT redeems any INREIT Shares, then as the General Partner, it shall cause the Partnership to purchase from the General Partner a number of Partnership Units as determined based on the application of the Conversion Factor on the same terms that INREIT exchanged such INREIT shares.
INREIT further agrees to supplement or make amendments to each Registration Statement, if required by the rules, regulations or instructions applicable to the registration form utilized by INREIT or by the Securities Act or rules and regulations thereunder for such Registration Statement.
The General Partner is hereby authorized to cause the Partnership to issue such additional Partnership Interests in the form of Partnership Units for any Partnership purpose at any time or from time to time, to the Partners (including INREIT) or to other Persons for such consideration and on such terms and conditions as shall be established by the General Partner in its sole and absolute discretion, all without the approval of any Limited Partners.