REIT Provision Clause Samples
REIT Provision. Notwithstanding anything contained in the Amended Lease to the contrary, Tenant shall not: (i) make a transfer to an entity in which, under the Internal Revenue Code of 1986, as amended (the “Code”), any entity that directly or indirectly owns Landlord and is qualified as a real estate investment trust (a “REIT Owner”) owns, directly, indirectly or by applying constructive ownership rules set forth in Section 856(d)(5) of the Code, a ten percent (10%) or greater interest; or (ii) make any transfer or other action under Section 14.8 of the Original Lease, in a manner that would cause any portion of the amounts received by Landlord pursuant to the Amended Lease, to fail to qualify as “rents from real property” within the meaning of Section 856(d) of the Code.
REIT Provision. Notwithstanding anything that may be contained in this Lease to the contrary, no provision in this Lease shall be interpreted so as to have the effect of providing for payment of Rent, or any increment thereof, based in whole or in part on the income, net revenues, net income, or profits derived by the Tenant from the Premises, but may, if applicable, be construed to provide for Rent, or any increment thereof, based in part on a fixed percentage of gross receipts or sales or otherwise included in the term "rents from real Property" as such term is defined in Section 856(d) of the Internal Revenue Code. Further, no assignment of this Lease, or sublet under this Lease, will be approved if the effect thereof shall result in payment to the Landlord of rental based in whole or in part on the income, net revenues, net income or profits derived by the Tenant, Tenant's assignee or Tenant's sublessee from the Premises, but may, if applicable, result in payment to the Landlord of rental based in part on a fixed percentage of gross receipts or sales or otherwise included in the term "rents from real property" as such term is defined in Section 856(d) of the Internal Revenue Code. All documents relating to any permitted assignment or sublet shall refer to this restriction.
REIT Provision. The Landlord and Tenant hereby agree that it is their intent that all minimum rent, percentage rent and all additional and other rent and charges payable to the Landlord under this Lease (hereinafter individually and collectively referred to as “Rent”) shall qualify as ” rents from real Property” within the meaning of Section 856(d) of the Internal Revenue Code of 1986, as amended, (the “Code”) and the Department of the U.S. Treasury Regulations promulgated thereunder (the “Regulations” ). If Landlord is a Real Estate Investment Trust and should the Code or the Regulations, or interpretations thereof by the Internal Revenue Service contained in revenue rulings or other similar public pronouncements, be changed so that any Rent no longer so qualifies as “ rent from real Property” for purposes of Section 856(d) of the Code and Regulations, or any successor provision thereto, such Rent shall be adjusted in such manner as the Landlord may require so that it will so qualify; provided, however, that any adjustments required pursuant to this Section shall be made as to produce the equivalent (in economic terms) Rent as payable prior to such adjustment. The parties agree to execute such further instrument as may be reasonably required by the Landlord in order to give effect to the foregoing provisions of this Section.
REIT Provision. Notwithstanding anything in this Agreement to the contrary, COI may not exercise a Put Option, and no assignment or transfer of any interest in either CS Holdings or CS Holdings II shall be permitted, if such exercise, assignment or transfer would, in the opinion of counsel to the REIT, adversely impact the REIT's ability to qualify as a real estate investment trust within the meaning of Sections 856 through 860 of the Internal Revenue Code of 1986, as amended, and in such event (i) any attempt to effect such exercise, assignment or transfer shall be null and void and shall be of no force or effect and (ii) that portion of any document or instrument indicating that such exercise, assignment or transfer may be made shall be of no force or effect.