Common use of BUSINESS OF THE PARTNERSHIP Clause in Contracts

BUSINESS OF THE PARTNERSHIP. The purpose and nature of the business to be conducted by the Partnership shall be: (i) to conduct any business that may be lawfully conducted by a limited liability limited partnership organized pursuant to the Act, provided, however, that such business shall be limited to and conducted in such a manner as to permit STERLING at all times to qualify as a REIT, unless STERLING otherwise ceases to qualify as a REIT; (ii) to enter into any partnership, joint venture or other similar arrangement to engage in any of the foregoing or the ownership of interests in any entity engaged in any of the foregoing; and (iii) to do anything necessary or incidental to the foregoing: In connection with the foregoing, and without limiting STERLING’s right in its sole discretion to cease qualifying as a REIT, the Partners acknowledge that STERLING’s current status as a REIT inures to the benefit of all the Partners and not solely to STERLING. The General Partner shall also be empowered to do any and all acts and things necessary or prudent to ensure that the Partnership will not be classified as a “Publicly traded partnership” for purposes of Section 7704 of the Code.

BUSINESS OF THE PARTNERSHIP. The purpose and nature of the business to be conducted by the Partnership shall be: is (i) to conduct any business that may be lawfully conducted by a limited liability limited partnership organized pursuant to the Act, provided, however, that such business shall be limited to and conducted in such a manner as to permit STERLING IRET at all times to qualify as a REIT, unless STERLING IRET otherwise ceases to qualify as a REIT; , (ii) to enter into any partnership, joint venture or other similar arrangement to engage in any of the foregoing or the ownership of interests in any entity engaged in any of the foregoing; foregoing and (iii) to do anything necessary or incidental to the foregoing: In connection with the foregoing, and without limiting STERLING’s IRET's right in its sole discretion to cease qualifying as a REIT, the Partners acknowledge that STERLING’s IRET's current status as a REIT inures to the benefit of all the Partners and not solely to STERLINGIRET. The General Partner shall also be empowered to do any and all acts and things necessary or prudent to ensure that the Partnership will not be classified as a “Publicly "publicly traded partnership” " for purposes of Section 7704 of the Code.

BUSINESS OF THE PARTNERSHIP. The purpose and nature of the business to be conducted by the Partnership shall be: (i) to conduct any business that may be lawfully conducted by a limited liability limited partnership organized pursuant to the Act, provided, however, that such business shall be limited to and conducted in such a manner as to permit STERLING INREIT at all times to qualify as a REIT, unless STERLING INREIT otherwise ceases to qualify as a REIT; (ii) to enter into any partnership, joint venture or other similar arrangement to engage in any of the foregoing or the ownership of interests in any entity engaged in any of the foregoing; and (iii) to do anything necessary or incidental to the foregoing: In connection with the foregoing, and without limiting STERLINGINREIT’s right in its sole discretion to cease qualifying as a REIT, the Partners acknowledge that STERLINGINREIT’s current status as a REIT inures to the benefit of all the Partners and not solely to STERLINGINREIT. The General Partner shall also be empowered to do any and all acts and things necessary or prudent to ensure that the Partnership will not be classified as a “Publicly traded partnership” for purposes of Section 7704 of the Code.

BUSINESS OF THE PARTNERSHIP. The purpose and nature of the business to be conducted by the Partnership shall be: is (i) to conduct any business that may be lawfully conducted by a limited liability limited partnership organized pursuant to the Act, provided, however, that such business shall be limited to and conducted in such a manner as to permit STERLING the Company at all times to qualify as a REIT, unless STERLING the Company otherwise ceases to qualify as a REIT; , (ii) to enter into any partnership, joint venture or other similar arrangement to engage in any of the foregoing or the ownership of interests in any entity engaged in any of the foregoing; foregoing and (iii) to do anything necessary or incidental to the foregoing: . In connection with the foregoing, and without limiting STERLING’s the Company's right in its sole discretion to cease qualifying as a REIT, the Partners acknowledge that STERLING’s the Company's current status as a REIT inures to the benefit of all the Partners and not solely to STERLINGthe Company. The General Partner shall also be empowered to do any and all acts and things necessary or prudent to ensure that the Partnership will not be classified as a “Publicly "publicly traded partnership” " for purposes of Section 7704 of the Code.

BUSINESS OF THE PARTNERSHIP. The purpose and nature of the business to be conducted by the Partnership shall be: is (i) to conduct any business that may be lawfully conducted by a limited liability limited partnership organized pursuant to the Act, provided, however, that such business shall be limited to and conducted in such a manner as to permit STERLING the Company at all times to qualify as a REIT, unless STERLING otherwise ceases the Company has determined that it no longer intends or no longer is able to qualify as a REIT; , (ii) to enter into any partnership, joint venture or other similar arrangement to engage in any of the foregoing or the ownership of interests in any entity engaged in any of the foregoing; foregoing and (iii) to do anything necessary or incidental to the foregoing: In connection with . Notwithstanding the foregoing, and without limiting STERLING’s right in the Limited Partners agree that the Company may terminate its sole discretion to cease qualifying as a REIT, the Partners acknowledge that STERLING’s current status as a REIT inures to under the benefit of all the Partners and not solely to STERLINGCode at any time. The General Partner shall also be empowered to do any and all acts and things necessary or prudent to ensure that the Partnership will not be classified as a “Publicly publicly traded partnership” taxable as a corporation for purposes of Section 7704 of the Code.

BUSINESS OF THE PARTNERSHIP. The purpose and nature of the business to be conducted by the Partnership shall be: (i) to conduct any business that may be lawfully conducted by a limited liability limited partnership organized pursuant to the Act, provided, however, that such business shall be limited to and conducted in such a manner as to permit STERLING the Trust at all times to qualify as a REIT, unless STERLING the Trust otherwise ceases to qualify as a REIT; (ii) to enter into any partnership, joint venture or other similar arrangement to engage in any of the foregoing or the ownership of interests in any entity engaged in any of the foregoing; and (iii) to do anything necessary or incidental to the foregoing: . In connection with the foregoing, and without limiting STERLINGthe Trust’s right in its sole discretion to cease qualifying as a REIT, the Partners acknowledge that STERLINGthe Trust’s current status as a REIT inures to the benefit of all the Partners and not solely to STERLINGthe Trust. The General Partner shall also be empowered to do any and all acts and things necessary or prudent to ensure that the Partnership will not be classified as a “Publicly traded partnership” for purposes of Section 7704 of the Code.

BUSINESS OF THE PARTNERSHIP. The purpose and nature of the business to be conducted by the Partnership shall be: is (i) to conduct any business that may be lawfully conducted by a limited liability limited partnership organized pursuant to the Act, provided, however, that such business shall be limited to and conducted in such a manner as to permit STERLING IRET at all times to qualify as a REIT, unless STERLING IRET otherwise ceases to qualify as a REIT; , (ii) to enter into any partnership, joint venture or other similar arrangement to engage in any of the foregoing or the ownership of interests in any entity engaged in any of the foregoing; foregoing and (iii) to do anything necessary or incidental to the foregoing: . In connection with the foregoing, and without limiting STERLING’s IRET's right in its sole discretion to cease qualifying as a REIT, the Partners acknowledge that STERLING’s IRET's current status as a REIT inures to the benefit of all the Partners and not solely to STERLINGIRET. The General Partner shall also be empowered to do any and all acts and things necessary or prudent to ensure that the Partnership will not be classified as a “Publicly "publicly traded partnership” " for purposes of Section 7704 of the Code.

BUSINESS OF THE PARTNERSHIP. The purpose and nature of the business to be conducted by the Partnership shall be: (i) to conduct any business that may be lawfully conducted by a limited liability limited partnership organized pursuant to the Act, provided, however, that such business shall be limited to and conducted in such a manner as to permit STERLING XXXXXXXX at all times to qualify as a REIT, unless STERLING otherwise ceases to qualify as a REIT; (ii) to enter into any partnership, joint venture or other similar arrangement to engage in any of the foregoing or the ownership of interests in any entity engaged in any of the foregoing; and (iii) to do anything necessary or incidental to the foregoing: In connection with the foregoing, and without limiting STERLINGXXXXXXXX’s right in its sole discretion to cease qualifying as a REIT, the Partners acknowledge that STERLINGXXXXXXXX’s current status as a REIT inures to the benefit of all the Partners and not solely to STERLINGXXXXXXXX. The General Partner shall also be empowered to do any and all acts and things necessary or prudent to ensure that the Partnership will not be classified as a “Publicly traded partnership” for purposes of Section 7704 of the Code.

BUSINESS OF THE PARTNERSHIP. The purpose and nature of the business to be conducted by the Partnership shall be: is (i) to conduct any business that may be lawfully conducted by a limited liability limited partnership organized pursuant to the Act, provided, however, that such -------- ------- business shall be limited to and conducted in such a manner as to permit STERLING the Company at all times to qualify as a REIT, unless STERLING the Company otherwise ceases to qualify as a REIT; , (ii) to enter into any partnership, joint venture or other similar arrangement to engage in any of the foregoing or the ownership of interests in any entity engaged in any of the foregoing; foregoing and (iii) to do anything necessary or incidental to the foregoing: . In connection with the foregoing, and without limiting STERLING’s the Company's right in its sole discretion to cease qualifying as a REIT, the Partners acknowledge that STERLING’s the Company's current status as a REIT inures to the benefit of all the Partners and not solely to STERLINGthe Company. The General Partner shall also be empowered to do any and all acts and things necessary or prudent to ensure that the Partnership will not be classified as a “Publicly "publicly traded partnership” " for purposes of Section 7704 of the Code.

BUSINESS OF THE PARTNERSHIP. The purpose and nature of the business to be conducted by the Partnership shall be: is (i) to conduct any business that may be lawfully conducted by a limited liability limited partnership organized pursuant to the Act, provided, however, that such business shall be limited to and conducted in such a manner as to permit STERLING the Company at all times to qualify as a REIT, unless STERLING the Company otherwise ceases to qualify as a REIT; , (ii) to enter into any partnership, joint venture or other similar arrangement to engage in any of the foregoing or the ownership of interests in any entity engaged in any of the foregoing; foregoing and (iii) to do anything necessary or incidental to the foregoing: . In connection with the foregoing, and without limiting STERLING’s the Company's right in its sole discretion to cease qualifying as a REIT, the Partners acknowledge that STERLING’s the Company's current status as a REIT inures to the benefit of all the Partners and not solely to STERLINGthe Company. The General Partner shall also be empowered to do any and all acts and things necessary or prudent to ensure that the Partnership will not be classified as a “Publicly "publicly traded partnership” " for the purposes of Section 7704 of the Code.