“Performance Component” means (i) prior to the NAV Pricing Date, the fee payable to the Advisor, the Sub-Advisor or their respective designees under Section 8(a)(ii) hereof and (ii) from and after the NAV Pricing Date the fee payable to the Advisor, the Sub-Advisor or their respective designees under Section 8(b)(ii) hereof.
“Person” means any individual, corporation, partnership, estate, trust (including a trust qualified under Sections 401(a) or 501(c)(17) of the Code), a portion of a trust permanently set aside for or to be used exclusively for the purposes described in Section 642(c) of the Code, association, private foundation within the meaning of Section 509(a) of the Code, joint stock company or other entity and also includes a group as that term is used for purposes of Section 13(d)(3) of the Exchange Act, or any successor statute thereto and a group to which an Excepted Holder Limit (as defined in the Charter) applies.
“Priority Return Percentage” has (i) the meaning set forth in Section 8(a)(ii)) prior to the NAV Pricing Date and (ii) the meaning set forth in Section 8(b)(ii) from and after the NAV Pricing Date.
“Private Placement” means the unregistered private Offering of Class P Shares by the Company pursuant to the Memorandum.
“Prospectus” has the meaning set forth in Section 2(10) of the Securities Act, including a preliminary prospectus, an offering circular as described in Rule 253 of the general rules and regulations under the Securities Act, or, in the case of an intrastate offering, any document by whatever name known, utilized for the purpose of offering and selling Shares to the public in an Offering.
“Public Offering” means a public offering of Shares pursuant to the applicable Prospectus, as amended and supplemented from time to time.
“Real Estate Loans” means any indebtedness or obligations in respect of borrowed money backed principally by real estate, such as mortgage, mezzanine, bridge and other loans.
“Real Estate Manager” means any Person engaged by the Company or the Operating Partnership to manage any Real Property, including Inland Commercial Real Estate Services, LLC, a Delaware limited liability company, or any of its successors or assigns, or other entities Affiliated with the Advisor.
“Real Estate-Related Assets” means any investments by the Company or the Operating Partnership in Real Estate Loans and Real Estate-Related Securities.
“Real Estate-Related Securities” means commercial real estate securities, such as CMBS, unsecured debt of publicly-traded REITs and CRE CLO notes.
“Real Property” means land, rights or interests in land (including, but not limited to, leasehold interests), and any buildings, structures, improvements, furnishings, fixtures and equipment located on, or used in connection with, land and rights or interest in land, in each case owned or to be owned by the Company either directly or indirectly through one or more Affiliates, Joint Ventures, partnerships or other legal entities.
“Registration Statement” means any registration statement on Form S-11 the Company may file with regard to a Public Offering, as amended from time to time, and the Prospectus contained therein.
“REIT” means a corporation, trust, association or other legal entity (other than a real estate syndication) that is engaged primarily in investing in equity interests in real estate (including fee ownership and leasehold interests) or in loans secured by real estate or both as defined pursuant to the REIT Provisions of the Code.
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