Examples of Plymouth REIT in a sentence
Accordingly, the Loan Documents and the respective obligations, covenants, agreements, representations, warranties, indebtedness and liabilities of Borrower, Plymouth REIT and each Property Guarantor thereunder are hereby ratified, reaffirmed and confirmed.
This Agreement shall be governed by the laws of the State of New York and shall be binding upon the successors and assigns of Borrower, Plymouth REIT and each Property Guarantor and shall inure to the benefit of Lenders and their respective successors and assigns.
The Borrower, Plymouth REIT, the Property Guarantors and the Lenders shall have indicated their consent hereto by their execution and delivery of the signature pages hereof.
The Lenders shall have received a secretary’s certificate from each of Plymouth REIT and the Borrower (i) either confirming that there have been no changes to its organizational documents since October 28, 2014, or if there have been changes to Plymouth REIT’s or the Borrower’s organizational documents since such date, certifying as to such changes, and (ii) certifying as to resolutions and incumbency of officers with respect to this Agreement and the transactions contemplated hereby.
To the knowledge of Borrower, Plymouth REIT and each Property Guarantor, there does not exist any event of default or any other event or condition that, with notice from Lenders or the passage of time, if not cured or corrected, would constitute an Event of Default under the Loan Documents.
Plymouth REIT shall have in effect and keep in effect an election to be treated as a REIT, and, subject to subsection (a) above, shall for each of its taxable years be a REIT.
The Loan Parties shall promptly advise the Lenders of the consummation by Plymouth REIT of any transaction that results in the receipt of Equity Proceeds by Plymouth REIT in connection with the prepayments set forth in Section 2.03(b)(i).
Plymouth REIT and Borrower shall continue to be self-managed and shall not engage any third-party manager for Plymouth REIT or Borrower without the prior written consent of the Required Lenders.
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Within ten (10) days after the Closing Date, Plymouth REIT shall file with the Internal Revenue Service a ruling request (the “ REIT Ruling Request”) in form and substance satisfactory to the Required Lenders by which Plymouth REIT requests rulings to the effect that Plymouth REIT will be treated as if it did not make a REIT election for its 2011 taxable year and that it first elected to be treated as a REIT for its 2012 taxable year.