Examples of REIT Partner in a sentence
The purpose of the limitations contained herein is to prevent any REIT Partner from failing to qualify as a REIT under the Code by reason of such REIT Partner’s share of items, including distributions, reimbursements, fees, expenses or indemnities, receivable directly or indirectly from the Partnership, and this Section shall be interpreted and applied to effectuate such purpose.
The Tax Matters Partner will take no action which is reasonably expected to have a disproportionate adverse effect on one or more Partners (other than the REIT Partner) without such Partners’ written consent.
In the event the Company redeems any shares of Common Stock or securities convertible into or redeemable or exchangeable for shares of Common Stock, then the Managing General Partner shall cause the Partnership to purchase from the Managing General Partner and any REIT Partner a number of Partnership Units as determined based on the application of the Conversion Factor on the same terms that the Company redeemed such securities.
Moreover, if the Company makes a cash tender offer or other offer to acquire shares of Common Stock or securities convertible into or redeemable or exchangeable for shares of Common Stock, then the Managing General Partner shall cause the Partnership to make a corresponding offer to the Managing General Partner and any REIT Partner to acquire an equal number of Partnership Units held by the Managing General Partner and any REIT Partner.
The General Partners shall take such reasonable efforts, as determined by them in their sole and absolute discretion, to cause the Partnership to distribute sufficient amounts to enable any REIT Partner to pay stockholder dividends that will satisfy the requirements for qualifying as a real estate investment trust under the Code.