REIT Sub definition

REIT Sub means REIT Sub, Inc., a Maryland corporation and wholly-owned subsidiary of Kimco, formed in connection with the Merger.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

REIT Sub means The Town and Country Holding Corporation, a wholly-owned subsidiary of TCT.

REIT Sub shall have the meaning set forth in the first -------- paragraph of this Agreement.

Examples of REIT Sub in a sentence

• Any amounts paid to the Lender or its designee as contemplated by the terms of the foregoing shall be treated as amounts paid or distributed to Pledgor for all purposes of the LLC Agreement, or other agreement pursuant to which the payment or distribution is made or is required to be made and shall be deemed to satisfy the obligations of the Down REIT Sub or HCPI to make such payment thereunder.

• Each Pledgor hereby agrees that neither the Down REIT Sub nor HCPI shall be deemed to be in breach of its obligations under, or in violation of the provisions of, any such agreement by virtue of having made such payments in the foregoing manner.

• Pledgor hereby irrevocably appoints Lender as its attorney-in-fact to exercise such Exchange Rights, and irrevocably instructs the Down REIT Sub and HCPI to honor any such exercise by Lender of the Exchange Rights.

• No governmental or other approval is or will be required in connection with the execution, delivery and performance by the Down REIT Sub or HCPI of this Agreement or the transactions contemplated hereby or to ensure the legality, validity or enforceability hereof.

• To its knowledge, Pledgor does not have any existing claims, defenses, setoff rights or rights of recoupment under the LLC Agreement, under any other agreement, or any law, rule or regulation, against or with respect to any obligation of either HCPI or the Down REIT Sub under the LLC Agreement or any other agreement.

• Pledgor agrees that nothing set forth herein shall alter, diminish or otherwise affect its obligations under the LLC Agreement or any other agreement between Pledgor and HCPI or the Down REIT Sub relating to the Pledged Units or Pledged Shares.

• No security interest in the Pledged Units has been registered on the records of the Down REIT Sub (or its transfer agent).

• The Down REIT Sub has by all necessary action duly authorized (i) the execution and delivery of this Agreement and (ii) the performance of its obligations hereunder.

• This Agreement constitutes the legal, valid and binding obligation of the Down REIT Sub, enforceable against it in accordance with its terms, except as enforcement may be limited by equitable principles and by bankruptcy, insolvency, reorganization, moratorium or similar laws relating to creditors’ rights generally.

• HCPI is the sole Managing Member of the Down REIT Sub and owns the only Managing Member Units thereof.

More Definitions of REIT Sub

REIT Sub and “REIT Subs” shall mean, individually and collectively, (i) the Existing REIT Subs; and (ii) the New REIT Subs to be formed pursuant to this Agreement as direct subsidiaries of each of the New Ventures, as shown on the organizational charts attached to this Agreement as Exhibits B-3 through B-5.

REIT Sub means AIMCO-GP, Inc., a Delaware corporation, AIMCO-LP, Inc., a Delaware corporation or AIMCO Holdings QRS, Inc., a Delaware corporation.