REIT Rules definition

REIT Rules means the requirements (i) for the Trust to qualify as a real estate investment trust under the Code as set forth in Sections 856(a)(5) and 856(a)(6) of the Code and (ii) for the Corporation or any affiliate of the Corporation which is a tenant of the Trust to not be treated as a related party pursuant to Section 856(d)(2)(B) of the Code.
Sample 1Sample 2Sample 3
REIT Rules shall have the meaning set forth in Section 5.1.26 hereof.
Sample 1Sample 2Sample 3
REIT Rules means the requirements for qualification as a REIT under the Code and the Regulations.
Sample 1Sample 2Sample 3

Examples of REIT Rules in a sentence

  • The Members agree that in the event that the Manager proposes to take any action (or cause the Company to take any action) to ensure the continued qualification of Inland Parent as a REIT or to avoid the imposition of additional taxes under the REIT Rules on Inland Parent, the Manager shall not have liability to any other Member for monetary damages or otherwise for losses sustained or liabilities incurred in connection with such actions.

  • Accordingly, and notwithstanding anything herein or in any other document governing the management and operation of the Property to the contrary, and for so long as GIPREIT continues to be so treated and so constitute a REIT, the Company shall be managed and operated as if itself is an entity subject to the REIT Rules even if such management and operation is, or could be or become, detrimental or adverse, financially, economically or otherwise, to the Company and/or any Member.

  • The Members intend that the Company always be operated as a corporation and in a manner consistent with its treatment REIT under the Code and REIT Rules for federal and state income tax purposes.

  • The Members intend for the Company to follow the REIT Rules in order to qualify as a REIT and to maintain such status for the life of the Company, once such status is realized.

  • The Members acknowledge that the Company intends to qualify as a REIT under the REIT Rules, and agree that the Company (and any Affiliates or Subsidiaries) shall be operated in a manner that will enable the Company to so qualify; provided, however, in no event shall the foregoing require any loss of voting or decision rights to the Class A Members or result in any adverse effect on the economic rights of the Class A Members.

  • If the Interim Tenant defaults in any manner (including by the commencement of voluntary or involuntary bankruptcy proceedings) and such Interim Tenant does not cure such default upon receipt of written notice thereof, Owner shall, within five (5) days of receipt of written notice thereof, (i) cause such default to be cured or (ii) terminate the lease agreement with the Interim Tenant and take possession of the Hotels in compliance with the REIT Rules (defined below).

  • The Transfer does not violate any of the Code provisions applicable REITs or the REIT Rules; and vi.

  • In order to comply with the REIT Rules and Borrower’s organizational documents, Borrower has entered into an Operating Lease with the Operating Tenant for the operation and maintenance of each of the Property.

  • In order to comply with the REIT Rules and Borrower’s organizational documents, Borrower has entered into an Operating Lease with the Operating Tenant for the operation and maintenance of each of the Properties.

  • In order to comply with the REIT Rules and Mortgage Borrower’s Organizational Documents, Mortgage Borrower has entered into an Operating Lease with the Operating Tenant for the operation and maintenance of each of the Properties.


More Definitions of REIT Rules

REIT Rules means the rules under the Code, governing ownership limits and rules under the Code applicable to related party rents.
Sample 1Sample 2
REIT Rules means those provisions of the Code, Regulations and proposed regulations promulgated thereunder, any Revenue Rulings or Procedures issued by the Service and any administrative rulings or court decisions respecting the requirements and conditions of the qualification and taxation of REITs. (mmm) "Regulations" or "Treas. Reg." means the regulations issued by the United States Department of the Treasury under the Code. (nnn) "Sale Notice" is defined in Article 11.9. (ooo) "Seller" is defined in Article 11.9. (ppp) "Special Purchase Right Upon Marital Dissolution" is defined in Article 10.5(a). (qqq) "Substitute Member" means a Person who acquires Units from a Member and who satisfies all of the applicable conditions set forth in this Agreement, including, but not limited to the applicable provisions set forth in Articles 11.3 and 11.5 hereof. (rrr) "Taxing Jurisdiction" means any federal, state, local or foreign government that collects tax, interest, and penalties, however designated, on any Member's share of income or gain attributable to the Company. (sss) "Tax Matters Partner" is defined in Article 9.3(d). (ttt) "Transfer" means, when used as a noun, any assignment, conveyance, disposition, sale, gift, or other transfer, and when used as a verb, to assign, convey, dispose of, gift, sell, or otherwise transfer, in each case, whether voluntarily or involuntarily, directly or indirectly. (uuu) "Unit" means the economic interest in the Company acquired by a Member or unit Holder representing the economic rights of a member or Unit Holder and the Member's or Unit Holder's permitted assignees and successors to share in the distributions of cash and other property from the Company pursuant to the Act and this Agreement, together with the Member's or Unit Holder's distributive share of the Company's Profits and Losses. (vvv) "Unit Holder" means a Person who owns Units of the Company but who is not a Member, including, except as otherwise provided herein, a Member who becomes a Withdrawn Member. (www) "Withdrawal Event" means the occurrence of any of the following events: a. A Member voluntarily withdraws from the Company; b. A Member does any of the following: i. Makes an assignment for the benefit of creditors; ii. Files an voluntary petition in bankruptcy; iii. Is adjudicated as bankrupt or insolvent; iv. Files a petition or answer seeking the Member's own reorganization, arrangement, composition, readjustment, liquidation, or similar relief under any statute, ...
Sample 1
REIT Rules means Sections 856 through 860 of the Internal Revenue Code of 1986, as now enacted or hereafter amended, or successor statutes, Regulations and proposed regulations promulgated thereunder, any Revenue Rulings or Procedures issued by the Internal Revenue Service and any administrative rulings or court decisions respecting the requirements and conditions of the qualification and taxation of REITs.
Sample 1
REIT Rules has the meaning set forth in Section 2.11 hereof.
Sample 1
REIT Rules means those provisions of the Code, Regulations and proposed regulations promulgated thereunder, any Revenue Rulings or Procedures issued by the Service and any administrative rulings or court decisions respecting the requirements and conditions of the qualification and taxation of REITs.
Sample 1

Related to REIT Rules

  • BBA Partnership Audit Rules means Sections 6221 through 6241 of the Code, and any regulations promulgated or proposed under any such Sections and any administrative guidance with respect thereto.

  • SIFT Rules means the provisions of the Tax Act, including those contained in sections 104, 122 and 122.1 of the Tax Act, which apply to the taxation of a “specified investment flow through trust” and its unitholders.

  • Partnership Tax Audit Rules means Sections 6221 through 6241 of the Code, as amended by the Bipartisan Budget Act of 2015, together with any guidance issued thereunder or successor provisions and any similar provision of state or local tax laws.

  • Market Rules means the rules made under section 32 of the Electricity Act;

  • PJM Market Rules means the rules, standards, procedures, and practices of the PJM Markets set forth in the PJM Tariff, the PJM Operating Agreement, the PJM Reliability Assurance Agreement, the PJM Consolidated Transmission Owners Agreement, the PJM Manuals, the PJM Regional Practices Document, the PJM-Midwest Independent Transmission System Operator Joint Operating Agreement or any other document setting forth market rules. PJM Net Assets:

  • Conduct Rules shall have the meaning set forth in Section 4(u) hereof.

  • PPB Rules means the rules of the Procurement Policy Board as set forth in Title 9 of the Rules of the City of New York (“RCNY”), § 1-01 et seq.

  • 1940 Act Rules and Regulations means the rules and regulations of the Commission under the 1940 Act.

  • Exchange Rules means the listing rules of The OTC Marketplace.

  • Advisers Act Rules and Regulations means the rules and regulations of the Commission under the Advisers Act.

  • House Rules means written and posted rules governing house activities in the AFH-DD. These rules may not conflict with the AFH Bill of Rights.

  • ASTC Settlement Rules means the operating rules of ASTC and, to the extent that they are applicable, the operating rules of ASX and the operating rules of the Australian Clearing House Pty Limited;

  • Relevant Rules means, at any time, the laws, regulations, requirements, guidelines and policies relating to capital adequacy (including, without limitation, as to leverage) then in effect in the United Kingdom including, without limitation to the generality of the foregoing, as may be required by CRD IV or BRRD or any applicable successor legislation or any delegated or implementing acts (such as regulatory technical standards) adopted by the European Commission and applicable to the Issuer from time to time and any regulations, requirements, guidelines and policies relating to capital adequacy adopted by the Relevant Regulator from time to time (whether or not such requirements, guidelines or policies are applied generally or specifically to the Issuer or to the Issuer and any of its holding or subsidiary companies or any subsidiary of any such holding company).

  • FCA Rules means the Rules included within the FCA Handbook issued by the FCA.

  • ISO-NE Rules means all rules and procedures adopted by NEPOOL, ISO-NE, or the RTO, and governing wholesale power markets and transmission in New England, as such rules may be amended from time to time, including but not limited to, the ISO-NE Tariff, the ISO-NE Operating Procedures (as defined in the ISO-NE Tariff), the ISO-NE Planning Procedures (as defined in the ISO-NE Tariff), the Transmission Operating Agreement (as defined in the ISO-NE Tariff), the ISO-NE Participants Agreement, the manuals, procedures and business process documents published by ISO-NE via its web site and/or by its e-mail distribution to appropriate NEPOOL participants and/or NEPOOL committees, as amended, superseded or restated from time to time.

  • QFC Stay Rules means the regulations codified at 12 C.F.R. 252.2, 252.81–8, 12 C.F.R. 382.1-7 and 12 C.F.R. 47.1-8, which, subject to limited exceptions, require an express recognition of the stay-and-transfer powers of the FDIC under the Federal Deposit Insurance Act and the Orderly Liquidation Authority under Title II of the Xxxx Xxxxx Wall Street Reform and Consumer Protection Act and the override of default rights related directly or indirectly to the entry of an affiliate into certain insolvency proceedings and any restrictions on the transfer of any covered affiliate credit enhancements.

  • Business Corporations Act means the Business Corporations Act (British Columbia) from time to time in force and all amendments thereto and includes all regulations and amendments thereto made pursuant to that Act;

  • M&A Rules means the Provisions on Merging and Acquiring Domestic Enterprises by Foreign Investors, which was promulgated by six Governmental Agencies, namely, the Ministry of Commerce, the State-owned Assets Supervision and Administration Commission, the State Administration for Taxation, the State Administration for Industry and Commerce, the China Securities Regulatory Commission (the “CSRC”), and the State Administration of Foreign Exchange, on August 8, 2006 and became effective on September 8, 2006, as amended by the Ministry of Commerce on June 22, 2009.

  • Nasdaq Rules means the rules of NASDAQ;

  • Partnership Act means the Delaware Revised Uniform Limited Partnership Act, 6 Del. C. §§ 17-101, et seq., as it may be amended from time to time, and any successor to such statute.