Look-Through Ownership Limit definition
Examples of Look-Through Ownership Limit in a sentence
The Board of Directors may, in its sole and absolute discretion, permit a Look-Through Entity to own shares of Equity Stock in excess of the Look-Through Ownership Limit if the Look-Through Entity satisfies the Board of Directors that such share ownership will not adversely affect the Corporation's ability to qualify as a REIT.
The Board of Directors shall except a Person from the Ownership Limit if the Person satisfies the Board of Directors, in its sole and absolute discretion, that (a) such Person qualifies to be treated as a Look-Through Entity, (b) satisfies the requirements of (i), (ii), and (iii) above, and (c) does not Beneficially Own shares of Equity Stock in excess of the Look-Through Ownership Limit.
Each Person who is a Beneficial Owner or Constructive Owner of shares of Equity Stock and each Person (including the stockholder of record) who is holding shares of Equity Stock for a Beneficial Owner or Constructive Owner shall provide to the Corporation a written statement or affidavit stating such information as the Corporation may request in order to determine the Corporation's status as a REIT and to ensure compliance with the Ownership Limit or the Look-Through Ownership Limit, as applicable.
Subject to Section 7.8 of Article VII hereof, nothing contained in this Article VII shall limit the authority of the Corporation to take such other action as it deems necessary or advisable to protect the Corporation and the interests of its stockholders by preservation of the Corporation's status as a REIT and to ensure compliance with the Ownership Limit or the Look-Through Ownership Limit, as applicable.
Except for the Ownership Limit and the Look-Through Ownership Limit (as such terms are defined in the Charter), the Charter does not in any way prevent or restrict the transactions contemplated hereby or preclude the Investor, acting as agent on behalf of the Pecuniary Owners, or the Pecuniary Owners from owning or holding the amount, value or class of Capital Stock to be purchased hereby.
Except for the Ownership Limit and the Look-Through Ownership Limit (as such terms are defined in the Articles), the Articles do not in any way prevent or restrict the transactions contemplated hereby or preclude the Investor, acting as agent on behalf of the Pecuniary Owners, or the Pecuniary Owners from owning or holding the amount, value or class of capital stock to be purchased hereby.