KOP definition
Examples of KOP in a sentence
The Members further agree that CalEast will not be liable to KOP or Keystone in the event that a Board Member designated by CalEast submits, votes for or approves a transaction that would adversely affect Keystone's status as a real estate investment trust under applicable provisions of the Code and Treasury Regulations, or that would result in the imposition of a tax under Section 857 or 4981 of the Internal Revenue Code.
All investment income earned from the investment of the Deposit, less investment fees, if any, will be added to and become a part of the Deposit and will be applied toward the Purchase Price under the KOP Agreement (defined in Paragraph 7) if Closing is completed in accordance with this Agreement; otherwise all interest will be paid to the party entitled to the Deposit.
Notwithstanding the foregoing, the Officers shall cause the Company to timely furnish to KOP any information regarding the Company, its assets, or operations as KOP shall reasonably request and as may be necessary in order to determine the status of Keystone as a "real estate investment trust" within the meaning of Section 856 of the Code.
Should CalEast fail to reject the KOP Offer on behalf of the Company within such 30 day period the KOP Offer shall be deemed accepted.
Within ten (10) days after receipt of a Property Certification, CalEast shall deliver to KOP a confirmation that it has no knowledge of any material misstatements or omissions contained in the Property Certification or a statement of any material misstatements or omissions of which it has knowledge (the "CERTIFICATION CONFIRMATION").
The Members agree that the Officers and the Board Members designated by KOP are not obligated to submit or approve transactions that would adversely affect Keystone's status as a real estate investment trust under applicable provisions of the Code and Treasury Regulations, or that would result in the imposition of a tax under Section 857 or 4981 of the Internal Revenue Code.
In the event that CalEast selects less than all of the remaining Company Properties, then KOP shall have the right to select any or all of the remaining Company Properties remaining after CalEast's selection.
On the date of the contribution by KOP of the Contributed Property, the Company shall distribute to KOP the amount of cash set forth in the Contract.
KOP shall determine such incremental costs, and shall allocate the applicable purchase price between the Opportunity Properties and the other properties involved in the Portfolio Purchase or Entity Purchase, as the case may be, in a good faith, fair and reasonable manner, and such determination and allocation shall be presented to the Company together with the Investment Report for the Board's consideration pursuant to Section 3.1(B) hereof.
Where KOP or any Affiliate is obligated to present a New Jersey Investment Opportunity to the Company that involves a Portfolio Purchase or an Entity Purchase, the incremental transactions costs and other incremental costs, expenses and benefits which result from separating the Opportunity Properties from the other properties involved in the Portfolio Purchase or Entity Purchase, as the case may be, shall be allocated to the Company.