Limitation to Preserve REIT Status. To the extent that any amount paid or credited to the Parent or the General Partner or any of their officers, directors, employees or agents pursuant to Sections 7.4 or 7.7 would constitute gross income to the Parent for purposes of Sections 856(c)(2) or 856(c)(3) of the Code (a “General Partner Payment”) then, notwithstanding any other provision of this Agreement, the amount of such General Partner Payment for any Fiscal Year shall not exceed the lesser of:
Appears in 6 contracts
Samples: Agreement (Education Realty Operating Partnership L P), Freehold Properties, Inc., MedEquities Realty Trust, Inc.
Limitation to Preserve REIT Status. To the extent that any amount paid or credited to the Parent or the General Partner or any of their its officers, directors, employees or agents pursuant to Sections 7.4 or 7.7 would constitute gross income to the Parent for purposes of Sections 856(c)(2) or 856(c)(3) of the Code (a “General Partner Parent Payment”) then, notwithstanding any other provision of this Agreement, the amount of such General Partner Parent Payment for any Fiscal Year shall not exceed the lesser of:
Appears in 2 contracts
Samples: Steadfast Apartment REIT, Inc., Steadfast Apartment REIT, Inc.
Limitation to Preserve REIT Status. To the extent that any amount paid or credited to the Parent or the General Partner or any of their officers, directors, employees or agents pursuant to Sections Section 7.4 or Section 7.7 would constitute gross income to the Parent for purposes of Sections Section 856(c)(2) or 856(c)(3) of the Code (a “General Partner Payment”) then, notwithstanding any other provision of this Agreement, the amount of such General Partner Payment for any Fiscal Year shall not exceed the lesser of:Code
Appears in 1 contract
Samples: Agreement of Limited Partnership (Great Ajax Corp.)
