KREF definition
Examples of KREF in a sentence
The Collateral Custodian shall segregate the Loan Asset Files on its inventory system and will not commingle the physical Loan Asset Files with any other files of the Collateral Custodian other than those, if any, relating to KREF and its Affiliates and subsidiaries; provided, however, the Collateral Custodian shall segregate any commingled files upon written request of the Administrative Agent.
Such notice shall include, to the extent applicable, (i) the number of the KREF Equity Securities to be included in the issuance, (ii) the price (or the maximum and minimum price, if applicable) and terms of the additional KREF Equity Securities to be included in the issuance, and (iii) the proposed issuance date, if known.
The decision of the Advisory Board with respect to conflicts of interest will be binding on KREF and the Investors for all purposes hereunder unless otherwise consented to by the holders of a majority of REIT Shares owned by the Stockholders, and all Stockholders will provide on request a written consent or ratification of such decision or consent.
In the event KREF elects to purchase Common Units pursuant to this Section 3.05(c), KREF shall have no obligation to pay any amount to SteepRock with respect to the Common Units purchased by KREF, and SteepRock and KREF shall treat the transaction between KREF and SteepRock as a sale of such Common Units to KREF for federal income tax purposes.
Notwithstanding the foregoing or anything to the contrary in this Agreement, if SteepRock or any of its Affiliates is not selling REIT Shares in the applicable offering, SteepRock shall not be required to enter into a lock-up agreement unless officers and directors of KREF, and entities that are Affiliates of the KKR Manager that own equity interests of SR Mezz, the Partnership or KREF, are required to enter into lock-up agreements on substantially the same terms.
KREF, in its sole and absolute discretion, may waive the restriction on exchange set forth in this Section 3.05(d).
Each Stockholder’s transaction costs (i.e., legal, due diligence, etc.) not to exceed the lesser of (i) $125,000 and (ii) 0.13% of the Stockholder’s Aggregate Investor Commitment (as defined in the Stockholder’s Subscription Agreement) shall be capitalized as part of its investment in KREF (i.e., the amount required to be funded by such Stockholder shall be net of such transaction costs without reduction in the amount of REIT Shares and Non-Voting Units issued to such Stockholder).
This Master Repurchase and Securities Contract Agreement (this “Agreement”) is dated as of December 6, 2016, and is made between ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ BANK, N.A., as buyer (together with its successors and assigns, “Buyer”) and KREF Lending IV LLC, a Delaware limited liability company, as seller (“Seller”).
The foregoing shall not confer on the Advisory Board any authority or responsibility to participate in the management or control of the business of KREF, including to review any investment decisions made by KREF, which shall be the sole responsibility of KREF and/or KKR Manager.
The Reimbursement Amount is to be settled in REIT Shares, the number of which shall be equal to the quotient (rounded to the nearest whole number) of (x) the Reimbursement Amount, divided by (y) the quotient obtained by dividing (I) the lesser of (A) GAAP book value of KREF as of March 31, 2016, adjusted to take into account any dividend with respect to the quarter ended March 31, 2016, and (B) the Adjusted Book Value as of March 31, 2016 by (II) the number of REIT Shares outstanding as of March 31, 2016.