RAIT definition
Examples of RAIT in a sentence
The rights and protections of RAIT hereunder shall extend to any successors or assigns of RAIT.
This grant is subject to the interpretations, regulations and determinations concerning the Plan established from time to time by the Committee in accordance with the provisions of the Plan, including, but not limited to, provisions pertaining to (i) rights and obligations with respect to withholding taxes, (ii) the registration, qualification or listing of the Common Shares, (iii) changes in capitalization of RAIT, and (iv) other requirements of applicable law.
This Agreement may be assigned by RAIT without the Participant’s consent.
Any notice to RAIT provided for in this instrument shall be addressed to RAIT in care of the Board of Trustees at the principal office of RAIT, and any notice to the Participant shall be addressed to such Participant at the current address shown on the payroll records of the Company, or to such other address as the Participant may designate to RAIT in writing.
The RAIT Investment Trust 2005 Equity Compensation Plan (the “Plan”) provides for the grant of phantom units (“Units”), which represent the right to receive one or more common shares of beneficial interest, par value $0.01, of RAIT (“Common Shares”), on a future redemption date.
Subject to the terms and conditions set forth in this Agreement and the Plan, RAIT hereby grants to the Participant Units (the “Restricted Units”).
Notwithstanding the foregoing, with respect to certain Mortgage Loans originated or acquired by RAIT that are subject to defeasance, RAIT has transferred to a third party or has retained the right to establish or designate the successor borrower and/or to purchase or cause to be purchased the related defeasance collateral (“Retained Defeasance Rights and Obligations”).
In the event the Master Servicer receives notice of a defeasance request with respect to a Mortgage Loan that provides for Retained Defeasance Rights and Obligations in the related Loan Documents, the Master Servicer shall provide, within five (5) business days of receipt of such notice, written notice of such defeasance request to RAIT or RAIT’s assignee in the case of the Mortgage Loans for which (1) CGMRC is the related Mortgage Loan Seller and (2) RAIT or its Affiliate is the applicable originator.
For purposes of any such vacation, holiday and sick leave policies that condition participation or entitlements thereunder on duration of service with the Company, Executive’s service with RAIT shall be treated as service to the Company.
RAIT has caused its duly authorized officer to execute this Unit Award Agreement, and the Participant has placed his or her signature hereon, effective as of the Date of Grant.