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Applicable; provided that Section12.1(b)of the Equity Definitions is hereby amended by deleting the remainder of such Sectionbeginning with the words in each case if the Merger Date is on or before in the fourth to last line thereof. (B)to all or a portion of the Settlement Shares designated in such Settlement Notice if, on any day during the relevant Unwind Period, (I)the trading price per Share on the Exchange (as determined by the Calculation Agent in a commercially reasonable manner) is below the Threshold Price or (II)Dealer, as Hedging Party, determines, in its good faith, reasonable judgment, that a Trading Condition has occurred, in which case the provisions set forth below in the third paragraph opposite Early Valuation shall apply as if such day were the Early Valuation Date and (x)for purposes of clause (i)of such paragraph, such day shall be the last Unwind Date of such Unwind Period and the Unwound Shares shall be calculated to, and including, such day and (y)for purposes of clause (ii)of such paragraph, the Remaining Shares shall be equal to the number of Settlement Shares designated in such Settlement Notice minus the Unwound Shares determined in accordance with clause (x)of this sentence. Exchange Rights Agreement, dated as of September 3, 2021, by For the purpose of Section3(f)of the Agreement, Counterparty makes the following representations: It is a U.S. If investors decide that 8% is acceptable, then there is 50% upside. Most of his writing at present is focused on REITs. 3bd. Each of Dealer and Counterparty acknowledges to and agrees with the other party hereto and to and with the Agent that (i) the Agent is acting as agent for Dealer under the Transaction pursuant to instructions from such party, (ii) the Agent is not a principal or party to the Transaction, and may transfer its rights and obligations with respect to the Transactions, (iii) the Agent shall have no responsibility, obligation or liability, by way of issuance, guaranty, endorsement or otherwise in any manner with respect to the performance of either party under the Transaction (including arising from any failure by Dealer or Counterparty to pay or perform any obligation under the Transaction), (iv) Dealer and the Agent have not given, and Counterparty is not relying (for purposes of making any investment decision or otherwise) upon, any statements, opinions or representations (whether written or oral) of Dealer or the Agent, other than the representations expressly set forth in this Confirmation or the Agreement, and (v) each party agrees to proceed solely against the other party, and not the Agent, to collect or recover any money or securities owed to it in connection with the Transaction. Independence Realty Trust Inc. IRT. I discussed the earnings related to acquisitions at some length in my recent article on CPT. [Cap rates are the ratio of NOI to property price. This in turn will reduce their interest expense as a percentage of NOI, raising their profitability. 2022-10-16. 8 myths about renting you should stop believing immediately, 6 ways home buyers mess up getting a mortgage, 6 reasons you should never buy or sell a home without an agent, Difference between agent, broker & Realtor, Real estate agents reveal the toughest home buyers they've ever met, Salt Lake City Central Business District Homes for Sale, Before You Buy, Look for Red Flags in the Neighborhood, Do Not Sell or Share My Personal Information. IRT also plans acquisitions, although in todays hot market one can hope they will do more selling than buying. Steadfast Apartment REIT Completes Merger into Independence For the purpose of Sections 4(a)(i)and (ii)of the Agreement, Counterparty agrees to deliver to Dealer one duly executed and completed United States Internal Revenue Service FormW-9 (or successor thereto) upon execution of this Confirmation and shall provide a new form promptly upon (i)reasonable request of Dealer or (ii)learning that any form previously provided has become obsolete or incorrect. Independence Realty Trust Stockholders Approve Steadfast Apartment REIT INDEPENDENCE REALTY TRUST, INC. (Form: DEF 14A, Received: The definitions and provisions contained in the 2002 ISDA Equity Derivatives Definitions (the Equity Definitions), as published by the International Swaps and Derivatives Association, Inc., are incorporated into this Confirmation. For any Unwind Period on any day, the aggregate number of Shares with respect to which Dealer has unwound its commercially reasonable hedge position in respect of the applicable Transaction in connection with the related Settlement as of such day, as determined by Dealer, as Hedging Party, acting in good faith and a commercially reasonable manner. Looking forward, the modeled AFFO/share roughly doubles over the next 7 years. Transfer agents are usually banks or trust companies, but sometimes a company acts as its own transfer agent. For the purpose of Sections 4(a)(i)and (ii)of the Agreement, Dealer agrees to deliver to Counterparty one duly executed and completed United States an Internal Revenue Service Form W-8ECI Certificate of Foreign Persons Claim That Income Is Effectively Connected With the Conduct of a Trade or Business in the United States (or successor thereto) upon execution of this Confirmation and shall provide a new form promptly upon (i)reasonable request of Counterparty or (ii)learning that any form previously provided has become obsolete or incorrect. Reuters The middle column is more problematic. For purposes of the Equity Definitions, this Transaction is a Share Forward Transaction. IRT has a great support system. But the big boys dont make returns from such deals anywhere near what IRT has managed from their previous strategy. Steadfast Apartment REIT, Inc. acquired Meadows at River Run from a third-party seller for $58.5 million. The Company's investment objectives are to realize capital appreciation in the value of its investments over the long term, and pay stable cash distributions to stockholders. irt-425.htm - SEC.gov As of any date, the Number of Shares minus the number of Shares designated as Settlement Shares for Settlements for which the related Relevant Settlement Date has not occurred. Accordingly, Counterparty agrees that any Shares so delivered will not bear a restrictive legend and will be deposited in, and the delivery thereof shall be effected through the facilities of, the Clearance System. On average, they anticipate the company's share price to reach $19.89 in the next twelve months. Leasing Agent 2.7 out of 5 stars. Investing in stocks, bonds, option and other financial instruments involve risks and may not be suitable for everyone. Jessica is General Counsel of Independence Realty Trust ("IRT") (NYSE: IRT). Andrew Philippone Broker, ABR, ABRM, GRI. As early as today, start finding the best investment opportunities! A stock is considered to be oversold if the RSI reading falls below 30. Compare pay for popular roles and read about the teams work-life balance. The exact timing depends on many unknowns. For all applicable Extraordinary Events, Dealer. Exhibit 4.5 . Utah Independent Insurance Agents | Trusted Choice For any Cash Settlement or Net Share Settlement, as determined by the Calculation Agent, the weighted average price per Share of the purchases of Shares made by Dealer (or its agent or affiliate) on each Unwind Date during the Unwind Period relating to such Settlement (weighted based on the number of Shares purchased by Dealer or its agent or affiliate at each such price per Share in connection with. 18286 INDEPENDENCE REALTY TRUST INC - astproxyportal.com In the event that the valuation period in any such other transaction overlaps with any Unwind Period under this Confirmation as a result of any acceleration, postponement or extension of such Unwind Period, Counterparty shall promptly amend such transaction to avoid any such overlap; The parties hereto agree that, notwithstanding anything to the contrary in the Agreement or the Equity Definitions, this Transaction constitutes a contract to issue a security of Counterparty as contemplated by Section365(c)(2)of the Bankruptcy Code and that the Transaction and the obligations and rights of Counterparty and Dealer (except for any liability as a result of breach of any of the representations or warranties provided by Counterparty in Section4 or Section5 of this Confirmation) shall immediately terminate, without the necessity of any notice, payment (whether directly, by netting or otherwise) or other action by Counterparty or Dealer, if, on or prior to the relevant final Settlement Date, Cash Settlement Payment Date or Net Share Settlement Date, an Insolvency Filing occurs or any other proceeding commences with respect to Counterparty under the Bankruptcy Code (a Bankruptcy Termination Event). The 2022 value I took from their pro-forma guidance. Residential REITs are more than just apartment building owners; they enable people to live or stay in all types of dwellings including houses, RVs, and boats. Their IRT share price forecasts range from $17.00 to $22.00. It was 9.8 when IRT internalized their management in 2017. Philadelphia, PA 19103 Without limiting the generality of the provisions set forth under the caption Settlement Terms in Section2 of this Confirmation, Counterparty acknowledges and agrees that it will not seek to, control or influence Dealers decision to make any purchases or sales (within the meaning of Rule10b5-1(c)(1)(i)(B)(3)) under or in connection with the Transaction, including, without limitation, Dealers decision to enter into any hedging transactions. In addition to the representations and warranties in the Agreement and those contained elsewhere herein, Counterparty represents and warrants to Dealer, and agrees with Dealer, as of the Trade Date that: Counterparty has all necessary corporate power and authority to execute, deliver and perform its obligations in respect of the Transaction; such execution, delivery and performance have been duly authorized by all necessary corporate action on Counterpartys part; and this Confirmation has been duly and validly executed and delivered by Counterparty and constitutes its valid and binding obligation, enforceable against Counterparty in accordance with its terms, subject to applicable bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and similar laws affecting creditors rights and remedies generally, and subject, as to enforceability, to general principles of equity, including principles of commercial reasonableness, good faith and fair dealing (regardless of whether enforcement is sought in a proceeding at law or in equity) and except that rights to indemnification and contribution hereunder may be limited by federal or state securities laws or public policy relating thereto; Neither the execution and delivery of this Confirmation nor the incurrence or performance of obligations of Counterparty hereunder will conflict with or result in a breach of (1) the certificate of incorporation or bylaws (or any equivalent documents) of Counterparty, or (2) any applicable law or regulation, or (3) any order, writ, injunction or decree of any court or governmental authority or agency, or (4) any agreement or instrument to which Counterparty or any of its subsidiaries is a party or by which Counterparty or any of its subsidiaries is bound or to which Counterparty or any of its subsidiaries is subject, or constitute a default under, or result in the creation of any lien under, any such agreement or instrument; no consent, approval, authorization, or order of, or filing with, any governmental agency or body or any court is required in connection with the execution, delivery or performance by Counterparty of this Confirmation, except such as have been obtained or made and such as may be required under the Exchange Act, the Securities Act or state securities laws; without limiting the generality of Section13.1 of the Equity Definitions, it acknowledges that Dealer is not making any representations or warranties with respect to the treatment of any Transaction, including without limitation ASC Topic 260, Earnings Per Share, ASC Topic 815, Derivatives and Hedging, FASB Statements 128, 133, as amended, 149 or 150, EITF 00-19, 01-6, 03-6 or 07-5, ASC Topic 480, Distinguishing Liabilities from Equity, ASC 815-40, Derivatives and Hedging Contracts in Entitys Own Equity (or any successor issue statements) or under the Financial Accounting Standards Boards Liabilities& Equity Project; Counterparty has delivered to Dealer a resolution of Counterpartys board of directors, or duly authorized committee thereof, authorizing the Transaction. The times and prices at which Dealer (or its agent or affiliate) purchases any Shares during any Unwind Period in connection with unwinding its commercially reasonable hedge position shall be determined by Dealer in a commercially reasonable manner. Steadfast Apartment REIT Completes Merger Into Independence Realty Trust, https://bluevaultpartners.com/news/steadfast-apartment-reit-completes-merger-into-independence-realty-trust/. WebAGREEMENT AND PLAN OF MERGER. If Net Share Settlement applies, on the Net Share Settlement Date, if the Net Share Settlement Amount is greater than zero, Counterparty shall deliver a number of Shares equal to the Net Share Settlement Amount (rounded down to the nearest integer) to Dealer, and if the Net Share Settlement Amount is less than zero, Dealer shall deliver a number of Shares equal to the absolute value of the Net Share Settlement Amount (rounded down to the nearest integer) to Counterparty, in either case, in accordance with Section9.4 of the Equity Definitions, with the Net Share Settlement Date deemed to be a Settlement Date for purposes of such Section9.4, and, in either case, plus cash in lieu of any fractional Shares included in the Net Share Settlement Amount but not delivered due to rounding required hereby, valued at the Settlement Price. The parties hereby agree that (i)Counterparty and each of its employees, representatives, or other agents may disclose to any and all persons, without limitation of any kind, the tax treatment and tax structure of the Transaction and all materials of any kind, including opinions or other tax analyses, provided by Dealer and its affiliates to Counterparty relating to such tax treatment and tax structure and (ii)Dealer does not assert any claim of proprietary ownership in respect of any description contained herein or therein relating to the use of any entities, plans or arrangements to give rise to a particular United States federal income tax treatment for Counterparty. IRT projects an additional $4.5M in NOI per year from redevelopment. THIS EXCHANGE RIGHTS AGREEMENT (this Agreement), dated as of December 16, 2021, is entered into by and among Independence Realty Trust, Inc., a Maryland corporation (the Company), Independence Realty Operating Partnership, LP, a Trust For any Cash Settlement or Net Share Settlement, each day on which Dealer (or its agent or affiliate) purchases Shares in the market in connection with such Settlement, starting on the First Unwind Date for such Settlement. Realty Trust WebOur dedicated team processes, guides, and flawlessly executes critical stock transfer agent services. Purchases 51,745 Shares of Independence Realty Trust, Inc. (NYSE:IRT) Defense World 10/18/2022 Analyst Ratings for Mid-America Apartment Get the inside scoop on jobs, salaries, top office locations, and CEO insights. In response, IRT began looking to partner with merchant builders in Joint Ventures. WebTD Ameritrade Institutional helps independent Registered Investment Advisors (RIAs) achieve their business vision and serve the best interests of their clients. WebIndependence Realty Trust, Inc. (NYSE: IRT) (IRT) and Steadfast Apartment REIT, Inc. (STAR) today announced the completion of the merger transaction between the two companies, forming a combined company with an equity market capitalization of approximately $5.6 billion and a total enterprise value of approximately $8.3 billion, as of He wrote his first Monte Carlo model aimed at investments in 2006. When is Independence Realty Trust's earnings date? 3,398 sqft (on 1.15 acres) 8999 E Soldier Creek Ln #32, Heber City, UT 84032. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Tons of great salary information on Indeed.com Dated as of May 11, 2015 TABLE OF CONTENTS from Because of this, IRT will be able to grow AFFO more rapidly than can the blue-chip REITs who already have low interest expense. Notwithstanding Section9.2(a)(i)of the Equity Definitions, on the Settlement Date, Dealer shall pay to Counterparty an amount equal. Independence Realty Trust Inc (IRT) Price & News - Google The largest trade he's ever made was selling 172,486 units of The largest is organic rent growth. 407-408-6662 This number represents the median, which is the midpoint of the ranges from our proprietary Total Pay Estimate model and based on salaries collected from our users. Independence Realty Trust, Inc. (IRT Without it, the recent increased valuations would have proven unsustainable. That growth of NOI IRT expects comes from several sources. In the case of a Private Placement Settlement, Dealer shall, in its good faith discretion, adjust the amount of Unregistered Settlement Shares to be delivered to Dealer hereunder in a commercially reasonable manner to reflect the fact that such Unregistered Settlement Shares may not be freely returned to securities lenders by Dealer and may only be saleable by Dealer at a discount to reflect the lack of liquidity in Unregistered Settlement Shares. Independence Realty Trust, Inc. is a self-administered and self-managed real estate investment trust (REIT). 34. Independence Realty Trust WebIndependence Realty Trust, Inc. (NYSE: IRT) owns and operates multifamily apartment properties across the country. I have no business relationship with any company whose stock is mentioned in this article. Independence Realty Trust, Inc. (IRT 407-408-6662 Transhare Corporation 15500 Roosevelt Blvd Suite 301 Clearwater, FL 33760. Independence Realty Trust Notwithstanding Section8.5(c)of the Equity Definitions, the Forward Cash Settlement Amount for any Cash Settlement or Net Share Settlement shall be equal to (i)the number of Settlement Shares for such Settlement multiplied by (ii)an amount equal to (A)the Settlement Price minus (B)the Relevant Forward Price. Independence Realty Trust Stock Price data may be delayed up to 15 minutes. Section6.6 of the Equity Definitions shall not apply to any Valuation Date. (i)Any Event of Default or Termination Event, other than an Event of Default or Termination Event that also constitutes a Bankruptcy Termination Event, that gives rise to the right of either party to designate an Early Termination Date pursuant to Section6 of the Agreement or (ii)the announcement of any event or transaction that, if consummated, would result in a Merger Event, Tender Offer, Nationalization, Delisting or Change in Law, in each case, as determined by the Calculation Agent. WebFiscal year is January-December. Independence Realty Trust pays quarterly dividends to shareholders. All provisions contained in the Agreement are incorporated into and shall govern this Confirmation except as expressly modified below. Note: To increase accuracy, the keyword filter suggests the most commonly searched terms. The estimated total pay for a Leasing Consultant at Independence Realty Trust is $49,842 per year. School data provided by National Center for Education Statistics. Scam brokers 2021 Subscribe to our daily morning update newsletter and never miss out on the need-to-know market news, movements, and more. Monday, August 21, 2023 03:49 PM | InvestorsObserver Analysts, Monday, August 21, 2023 03:41 PM | InvestorsObserver Analysts, Monday, August 21, 2023 03:34 PM | InvestorsObserver Analysts, Monday, August 21, 2023 03:32 PM | InvestorsObserver Analysts, Monday, August 21, 2023 03:22 PM | InvestorsObserver Analysts, Monday, August 21, 2023 03:18 PM | InvestorsObserver Analysts, Monday, August 21, 2023 12:40 PM | InvestorsObserver Analysts. My exit was in February 2021 with a nice 25% gain. 1.This Confirmation shall supplement, form a part of and be subject to an agreement (the Agreement) in the form of the ISDA 2002 Master Agreement (the ISDA Form), as published by ISDA, as if Dealer and Counterparty had executed the ISDA Form on the date hereof (but without any Schedule except for the election of New York law (without regard to New Yorks choice of laws doctrine other than Title 14 of Article 5 of the New York General Obligations Law (the General Obligations Law)) as the governing law and US Dollars (USD) as the Termination Currency). WebIndependence Realty Trust Leasing Agent in the United States makes about $18.26 per hour. any or all obligations that either party has with respect to this Confirmation or the Agreement to constitute property held by or due from such party to margin, guaranty or settle obligations of the other party with respect to the transactions under the Agreement (including the Transaction) or any other agreement between such parties. WebIntroduces Full Year 2023 Guidance Independence Realty Trust, Inc. (IRT) (NYSE: IRT), a multifamily apartment REIT, today announced its fourth quarter and full year 2022 financial results and introduced its full year 2023 guidance. Counterparty acknowledges and agrees that any Shares delivered by Counterparty to Dealer on any Settlement Date or Net Share Settlement Date will be (i)newly issued, (ii)approved for listing or quotation on the Exchange, subject to official notice of issuance, and (iii)registered under the Exchange Act, and, when delivered by Dealer (or an affiliate of Dealer) to securities lenders from whom Dealer (or an affiliate of Dealer) borrowed Shares in connection with hedging its exposure to the applicable Transaction, will be freely saleable without further registration or other restrictions under the Securities Act in the hands of those securities lenders, irrespective of whether any such stock loan is effected by Dealer or an affiliate of Dealer. Independence Realty Trust The low of $19.01 represents a continuation of a downward trend in effect since the April high of $28. INDEPENDENCE REALTY TRUST Independence Realty Trust | Sort by Most recent activityMost recent activityHighest RatingsMost RecommendationsMost For Sale Listings (All)Most Sold Listings (All), Home buyers reveal: 'What I wish I had known before buying my first home', Selling your home? WebFind the right Trusted Choice Insurance agent near you. Steadfast Apartment REIT Internalizes Management, Steadfast Companies Continues Portfolio Growth, 18100 Von Karman AvenueSuite 500 The rows shaded blue and white show how various earnings measures developed. 4.Additional Mutual Representations and Warranties. If Counterparty delivers Unregistered Settlement Shares pursuant to Section12 above (a Private Placement Settlement), then: all Unregistered Settlement Shares shall be delivered to Dealer (or any affiliate of Dealer designated by Dealer) pursuant to the exemption from the registration requirements of the Securities Act provided by Section4(a)(2)thereof; as of or prior to the date of delivery, Dealer and any potential purchaser of any such shares from Dealer (or any affiliate of Dealer designated by Dealer) identified by Dealer shall be afforded a commercially reasonable opportunity to conduct a due diligence investigation with respect to Counterparty customary in scope for private placements of equity securities of issuers comparable to Counterparty (including, without limitation, the right to have made available to them for inspection all financial and other records, pertinent corporate documents and other information reasonably requested by them); as of the date of delivery, Counterparty shall enter into an agreement (a Private Placement Agreement) with Dealer.