REIT Election definition

REIT Election means an election to be taxed as a REIT under Code Section 856(c)(1); and

REIT Election means Parent’s election to be, and qualification to be taxed as, a real estate investment trust for U.S. federal income tax purposes.

REIT Election means an election by any Restricted Subsidiary to be treated as a REIT (other than a public REIT).

Examples of REIT Election in a sentence

• Subject to Section 9.7 of these Articles, nothing contained in this Section 9.2 shall limit the authority of the Board to take such other action as it deems necessary or advisable to protect the Corporation and the interests of its shareholders in preserving the Corporation’s qualification (or, if prior to the REIT Election Date, expected qualification) as a REIT.

• Following the REIT Election, the Borrower (or applicable parent entity) will, at all times, conduct its affairs in a manner so as to continue to qualify as a REIT for U.S. federal income tax purposes until such time as the board of directors of the Borrower (or applicable parent entity) deems it in the best interests of the Borrower and its stockholders not to remain qualified as a REIT.

• Each such Beneficial Owner shall provide to the Corporation such additional information as the Corporation may request in order to determine the effect, if any, of such Beneficial Ownership on the Corporation’s status (or, if prior to the REIT Election Date, expected status) as a REIT.

• In anticipation of the Company's intended election to be taxed as a REIT under the Code beginning with its 2019 taxable year (the "REIT Election"), the Company implemented an internal restructuring as of December 31, 2018.

• Subject to Sections 5.1 and 5.6 of the Declaration of Trust, nothing contained in this Section 7.2 shall limit the authority of the Board of Trustees to take such other action as it deems necessary or advisable to protect the Trust in preserving the Trust’s qualification (or, if prior to the REIT Election Date, expected qualification) as a REIT.

More Definitions of REIT Election

REIT Election means the election by the Issuer (or its applicable parent entity) to be treated as a REIT; provided that (x) the Issuer (or its applicable parent entity) has publicly announced its intention to become a REIT and (y) as of such election, on a pro forma basis after giving effect to all related REIT Conversion Transactions, the REIT Conversion Transaction Requirement is satisfied.

REIT Election means an election by the Borrower (or its applicable parent entity) to be treated as a REIT; provided that, (x) the Borrower (or its applicable parent entity) has publicly announced its intention to become a REIT and (y) as of such election, on a Pro Forma Basis, after giving effect to all related REIT Conversion Transactions the REIT Conversion Transaction Requirement is satisfied.

REIT Election means Holdings’ election to be, and qualification to be taxed as, a REIT for U.S. federal income tax purposes.

REIT Election means the Issuer’s election to be, and qualification to be taxed as, a real estate investment trust for U.S. federal income tax purposes.

REIT Election has the meaning set forth in the preamble to this Agreement.

REIT Election means Holdings’ election to be, and qualification to be taxed as, a REIT for U.S. federal income tax purposes

REIT Election means an election by the Parent REIT or any successor to the Parent REIT to qualify as a REIT.