REIT ROFR definition

REIT ROFR shall have the meaning as described in Section 4(c).
View Source

Examples of REIT ROFR in a sentence

  • The REIT Parties acknowledge that if the REIT ROFR lapses, the applicable Manager Affiliate shall be entitled to proceed with the Manager Transaction described in the Manager Notice on materially the same terms and conditions as outlined therein within the time period established therein and in accordance with the underlying REIT Transaction Documents, subject to reasonable extensions of the closing date.

  • If the REIT Parties fail to deliver a REIT ROFR Notice within the REIT ROFR Period or by REIT ROFR Notice reject or decline to purchase and assume the Remington Transaction, or the applicable REIT Affiliate fails to timely prepare and execute the proper REIT Transaction Documents with respect to the Remington Transaction, then the REIT ROFR shall lapse.

  • If the REIT Parties fail to deliver a REIT ROFR Notice within the REIT ROFR Period or by REIT ROFR Notice reject or decline to purchase and assume the Manager Transaction, or the applicable REIT Affiliate fails to timely prepare and execute the proper REIT Transaction Documents with respect to the Manager Transaction, then the REIT ROFR shall lapse.

  • The REIT Parties acknowledge that pursuant to the terms of the Ashford Trust Mutual Exclusivity Agreement, if the REIT ROFR lapses, the Ashford Trust Parties may exercise their rights to assume or acquire the Remington Transaction.

  • The REIT Parties may accept or reject such Remington transaction (hereinafter referred to as the REIT ROFR PERIOD) at any time through any reit affiliate, within ten (10) working days of receipt of the Remington Notification (reit ROFR) or prior thereafter.

  • The REIT Parties shall have the right, through any of the REIT Affiliates, to accept or decline such Remington Transaction (the "REIT ROFR") by giving Mutual Exclusivity Agreement Ashford REIT written notice (the "REIT ROFR NOTICE") to the Remington Parties at any time on or before ten (10) business days from its receipt of a Remington Notice (the "REIT ROFR PERIOD").

Related to REIT ROFR

  • REIT means a “real estate investment trust” under Sections 856 through 860 of the Code.

  • REIT Requirements has the meaning set forth in Section 5.2.

  • REIT Status means, with respect to any Person, (a) the qualification of such Person as a real estate investment trust under the provisions of Sections 856 et seq. of the Code and (b) the applicability to such Person and its shareholders of the method of taxation provided for in Sections 857 et seq. of the Code.

  • General Partner Loan has the meaning set forth in Section 4.3.D hereof.

  • REIT Shares Amount means a number of REIT Shares equal to the product of the number of Partnership Units offered for exchange by a Tendering Party, multiplied by the Conversion Factor as adjusted to and including the Specified Redemption Date; provided that in the event the General Partner issues to all holders of REIT Shares rights, options, warrants or convertible or exchangeable securities entitling the stockholders to subscribe for or purchase REIT Shares, or any other securities or property (collectively, the “rights”), and the rights have not expired at the Specified Redemption Date, then the REIT Shares Amount shall also include the rights issuable to a holder of the REIT Shares Amount of REIT Shares on the record date fixed for purposes of determining the holder of REIT Shares entitled to rights.