Private REIT definition
Examples of Private REIT in a sentence
The Company does not know of any event that would cause or is likely to cause either the Company or the Private REIT to fail to qualify as a REIT under the Code at any time.
Each of the Company and the Private REIT will use its best efforts to continue to meet the requirements to qualify as a “real estate investment trust” under the Code.
Effective upon the IPO Closing Time, (i) the provisions of the Loan Agreement which permit transfers to or acquisitions of interests in Borrower by a Permitted Private REIT or a Permitted Private REIT Subsidiary shall be of no further force or effect; (ii) all references in the Loan Agreement to a "Permitted REIT" shall mean the REIT; and (iii) there shall be only one Permitted Public REIT, which shall be the REIT.
The outstanding partnership interests of the Operating Partnership have been duly and validly authorized and issued; all of the outstanding shares of capital stock of the Private REIT are directly and indirectly owned of record and beneficially by the Operating Partnership and the Company, respectively.
This Agreement shall inure to the benefit of and be binding upon the parties hereto, their respective successors and assigns, including, without the need for an express assignment or any consent by the Company thereto, subsequent Holders of Underlying Shares, and the indemnified persons referred to in Section 5 hereof (including the Partnership and the Private REIT).
Benefits received by the Company, the Partnership and the Private REIT shall be deemed to be equal to the total net proceeds from the Initial Placement (before deducting expenses) as set forth in the Final Circular.
Landlord shall be responsible for and pay all fees and commissions due to Brokers in connection with this Lease pursuant to a separate agreement.
Each of the Company and the Private REIT will use its best efforts to continue to meet the requirements to qualify as a “real estate investment trust” under the Code, until the Board of Directors of the Company determines that it is no longer in the best interests of the Company to qualify as a REIT.
Each of the Company and the Private REIT will use its best efforts to continue to meet the requirements to qualify as a REIT.
Effective as of April 1, 2020, the Company hereby engages Contractor to provide marketing services to Broadmark Private REIT Management, LLC (the “Manager”), as manager of the newly launched Broadmark Private REIT, LLC (the “Private REIT”) as requested by the Company from time to time (the “Services”).