PPL REIT definition

PPL REIT means a corporation or real estate investment trust to be formed by the Purchaser to operate as a REIT under the Code to conduct the IPO, and to directly or indirectly acquire interests in the Properties, other real and personal property and related service businesses.
View Source

Examples of PPL REIT in a sentence

  • The Purchaser may, without the consent of ----------------------- the Partners, assign its rights and obligations hereunder to PPL REIT or to any PPA Affiliate (i) formed in connection with structuring and completing the IPO and (ii) controlled by Purchaser and/or one or more of its shareholders; provided that prior to the effectiveness and as a condition precedent to any such assignment, the assignee shall execute and deliver to the Partners a written instrument of assumption in the form of Exhibit E.

  • The Articles of Incorporation or -------------------- Declaration of Trust, as applicable, of PPL REIT shall include customary ownership limitation provisions designed to prevent ownership by any person of more than 9.9% of any class of stock of PPL REIT, with such exceptions as are necessary to permit greater ownership by Purchaser and its Affiliates.

  • The Limited Partnership shall not bear any costs of the IPO or the proposed formation of PPL REIT.

  • PPL REIT shall have executed and ----------------------------- delivered to each of Ameritech, American and Idaho a registration rights agreement in substantially the form attached as Exhibit J.

  • Purchaser does not currently contemplate PPL REIT making within one year after the Closing any capital gain dividends, within the meaning of Section 857(b)(3)(C) of the Code.