Federal Income Tax Provisions. For federal or state income tax purposes, the Trustee shall file for the Trust such returns and statements as in its judgment are required to comply with applicable provisions of the Internal Revenue Code of 1986, as amended, and the regulations thereunder and any applicable state laws and regulations, in either case to permit each Trust Unitholder to report such Trust Unitholder’s share of the income and deductions of the Trust. The Trustee will treat all income and deductions of the Trust for each month as having been realized on the Monthly Record Date for such month unless otherwise advised by its counsel. The Trustee will treat the Trust and report with respect to the Trust as a grantor trust until and unless it receives an opinion of tax counsel that such reporting is no longer proper. Within 75 days following the end of each fiscal year, the Trustee shall mail to each Person who was a Trust Unitholder of record on a Monthly Record Date during such fiscal year, a report which shall show in reasonable detail such information as is necessary to permit such Trust Unitholder to make calculations necessary for tax purposes.
Federal Income Tax Provisions. If the Trust is treated as a partnership (rather than disregarded as a separate entity) for federal income tax purposes pursuant to Section 2.6, the following provisions shall apply:
Federal Income Tax Provisions. (a) The Issuing Entity will be wholly owned by the Certificateholder, which as of the Closing Date is the Depositor. The Depositor has made an election to be treated as a “real estate investment trust” (a “REIT”) under Section 856 of the Code. As such, the Depositor, as the sole Certificateholder, will be regarded as (i) owning all assets owned by the Issuing Entity and (ii) having incurred all liabilities incurred by the Issuing Entity, and all transactions between the Issuing Entity and the Depositor will be disregarded.
Federal Income Tax Provisions. (a) For so long as the Trust has a single owner for federal income tax purposes, it will, pursuant to Treasury Regulations promulgated under section 7701 of the Code, be disregarded as an entity distinct from the Certificateholder for all federal income tax purposes. Accordingly, for federal income tax purposes, the Certificateholder will be treated as (i) owning all assets owned by the Trust, (ii) having incurred all liabilities incurred by the Trust, and (iii) all transactions between the Trust and the Certificateholder will be disregarded.
Federal Income Tax Provisions. (a) The Trust will be wholly owned by the Certificateholder, which as of the Closing Date is the Seller. The Seller intends to make an election to be treated as a “real estate investment trust” (a “REIT”) under Section 856 of the Code. As such, the Seller, as the sole Certificateholder, will be regarded as (i) owning all assets owned by the Trust and (ii) having incurred all liabilities incurred by the Trust, and all transactions between the Trust and the Seller will be disregarded.
Federal Income Tax Provisions. 24 Section 6.02.
Federal Income Tax Provisions. 1. Purpose and Scope; Definitions; Use of Agents.
Federal Income Tax Provisions. Annex A to this Agreement sets forth the tax accounting and administration of the Trust in a manner consistent with its treatment as a partnership for federal, state and local tax purposes.
Federal Income Tax Provisions. The Issuing Entity will be wholly owned by the sole Certificateholder, which as of the Closing Date is the Depositor. The Depositor is a Qualified REIT Subsidiary. As such, the Depositor, as the sole Certificateholder, or the Depositor’s owner will be regarded as (i) owning all assets owned by the Issuing Entity and (ii) having incurred all liabilities incurred by the Issuing Entity, and all transactions between the Issuing Entity and the Depositor will be disregarded.
Federal Income Tax Provisions. The provisions attached hereto as Exhibit A (the “Tax Provisions”) are intended to comply with federal income tax law governing the allocation of such items of income, gain, loss and deduction of the Trust (in its status as a partnership for tax purposes) and the maintenance of the capital accounts of the Trust Unitholders and are incorporated herein by reference. Any conflict between the provisions of this Agreement and the Tax Provisions shall be governed by the Tax Provisions.
