The aims of this REIT are to: (I ) allow Unitholders of the REIT (together , “ REIT Unitholders ” and separately the “ REIT Unitholder ”) with steady payment dispersions from the listing of broadened revenue- making trade property attributes at this United States with a focus on anchored retail properties; (ii ) enhance the value of the reit’s assets and maximize long-term REIT Unitholder value through active management; and (iii ) expand the asset base of the REIT and increase the reit’s earnings on a per unit basis, Including accretive acquisitions.
To insure that REIT Trustees ’ stakes exist coordinated with those of this REIT Unitholders, to establish that REIT Trustees are financially engaged to this REIT through private component control and to promote the reit’s commitment to sound corporate governance, Each REIT Trustee (except the REIT Trustee who constitutes the worker of that REIT or tablet or any of their subordinates) can be needed to increase at least three times the value of the base annual REIT Trustee retainer, Which as of close would compare to $ 90, 000 at REIT Units or Deferred course U Units, or the combination thereof, By the 5th day of the later of (I ) end and (ii ) growing into the REIT Trustee (the “ Unit Ownership Guidelines ” ).
This REIT Unitholders or that REIT Trustees would be entitled to move the amount of REIT Trustees comprising the REIT committee. The quorum of the REIT Trustees, representing the majority of the REIT Trustees then taking staff (provided the number of those REIT Trustees comprising much quorum are residents of Canada) , Would be allowed to take the vacancy at the REIT Trustees, Except the vacancy resulting from the increase in the amount of REIT Trustees or from the failure of the REIT Unitholders to choose this needed amount of REIT Trustees.
When the REIT trustee ceases to be a part of the REIT committee and is not the official, worker, manager or trustee of any organization of the REIT, This once REIT Trustee would have Class U Units released by the REIT for the amount of Deferred Class U Units credited to his or her reason, Including any distributions given by the REIT on these course U Units that get accrued in the shape of Deferred course U Units or, in his or her position, those cash equivalent thereof. Class U Units (or where the REIT Trustee so elects, payment) can be released to the former REIT fiduciary, subject to any relevant legal document deductions.
The REIT fiduciary who does not provide these component control Guidelines upon his or her position or assignment to this REIT committee would stay needed to have in least 50 percent of the annual REIT Trustee retainer in Deferred Class U Units or to purchase REIT Units equal in value to at least 50% of the annual REIT Trustee retainer, In his or her judgment. If the REIT Trustee has collected that necessary assets amount under the Unit Ownership Guidelines, he or she can have the full annual fee in payment or Deferred Class U Units, or any combination thereof, As defined by this REIT Trustee.
To take in specific written form, Letter Nominating REIT unitholder’s attention to the REIT Trustees must put off: (I ) as to each individual whom that Nominating REIT Unitholder aims to choose for position as a REIT Trustee: (a ) the name, age, Business speech and residential address of the individual, (b ) the main job or work of the individual, (c ) this course or program and amount of REIT Units or offer vote Units which exist operated or which represent had beneficially or of evidence by this individual as of the record date for the meeting of REIT Unitholders (if such date shall then have been made publicly available and shall have occurred) and as of the date of such notice, And (d ) any additional data pertaining to this individual that could be needed to be revealed at the protester’s proxy circular in relation with solicitations of proxies for election of REIT Trustees pursuant to applicable Securities Laws (as defined in the REIT Declaration of Trust) , And (ii ) as to the Nominating REIT Unitholder making this request, any proxy, bid, structure, Knowing or relation pursuant to which much Nominating REIT Unitholder gets the place to take any Units and any additional data pertaining to specified appointing REIT Unitholder that could remain needed to be made in a dissident’s proxy circular in connection with solicitations of proxies for election of REIT Trustees pursuant to applicable Securities Laws.