REIT Distribution Requirement definition

REIT Distribution Requirement means distributions reasonably necessary for each REIT Borrower to maintain its REIT Status and not be subject to corporate level tax based on income or to excise tax under Section 4981 of the Code.

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REIT Distribution Requirement means for any taxable year, an amount of dividends sufficient to meet the requirements of Section 857(a) of the Code.

REIT Distribution Requirement distributions in an amount reasonably necessary to enable Global Signal to pay the dividends required to maintain its REIT Status and not be subject to corporate level tax based on income or to excise tax under Section 4981 of the Code.

Examples of REIT Distribution Requirement in a sentence

In satisfying the REIT Distribution Requirement pursuant to clause (i) above, the Borrower shall endeavor to issue Capital Stock or subordinated Indebtedness in each case as otherwise permitted under this Agreement or any other Loan Document, unless such manner of distribution is impracticable for the Borrower, in which case the Borrower may satisfy the REIT Distribution Requirement by paying cash dividends.
If a Default or an Event of Default has occurred and is continuing, neither Seller nor Guarantor shall pay any dividends with respect to any capital stock or other equity interests in such entity, whether now or hereafter outstanding, or make any other distribution in respect thereof, either directly or indirectly, whether in cash or property or in obligations of Seller or Guarantor; provided that Guarantor shall be permitted to pay dividends solely in order to meet its REIT Distribution Requirement.
The General Partner shall use its commercially reasonable efforts to cause the Partnership to distribute amounts sufficient to enable the General Partner to pay shareholder dividends that will allow the General Partner to meet the REIT Distribution Requirement.
If an Event of Default has occurred and is continuing, neither Seller nor Guarantor shall pay any dividends with respect to any capital stock or other equity interests in such entity, whether now or hereafter outstanding, or make any other distribution in respect thereof, either directly or indirectly, whether in cash or property or in obligations of Seller or Guarantor; provided that Guarantor shall be permitted to pay any such dividends solely in order to meet its REIT Distribution Requirement.

More Definitions of REIT Distribution Requirement

REIT Distribution Requirement means distributions reasonably necessary for AHMIC to maintain its REIT Status and not be subject to corporate level tax based on income or to excise tax under Section 4981 of the Code.

REIT Distribution Requirement in Section 1.1 of the Credit Agreement is hereby amended by deleting it in its entirety and inserting, in lieu thereof, the following:

REIT Distribution Requirement means distributions reasonably necessary for HB Corp. to maintain its status as a REIT and not be subject to corporate level tax based on income or to excise tax under Section 4981 of the Code.