Common use of Claims; Value of Collateral Clause in Contracts

Claims; Value of Collateral. (a) Any claims by an Indemnified Party shall be made in accordance with Article 3 of Exhibit C to the Contribution Agreement. On or prior to the first (1st) anniversary of the Closing (the “Survival Period”), an Indemnified Party may give notice (a “Claim Notice”) to the Pledgor of any Loss that is subject to indemnification under Article 3 to Exhibit C of the Contribution Agreement. (b) The value of Collateral (the “Value”) shall be determined as follows: (i) with respect to Collateral consisting of OP Units, an amount equal to the initial public offering price of shares of the Company’s common stock multiplied by the number of OP Units; and (ii) for all other Collateral, the fair market value of such Collateral as determined by a majority of the directors of the Company who meet the New York Stock Exchange standards of independence for directors, and who are otherwise unaffiliated with the Pledgee the (“Independent Directors”).

Claims; Value of Collateral. (a) Any claims by an Indemnified Party shall be made in accordance with Article 3 III of Exhibit C to the Contribution Nominee Agreement. On or prior to the first (1st) anniversary of the Closing (the “Survival Period”), an Indemnified Party may give notice (a “Claim Notice”) to the Pledgor of any Loss that is subject to indemnification under Article 3 to Exhibit C III of the Contribution Nominee Agreement. (b) The value of Collateral (the “Value”) shall be determined as follows: (i) with respect to Collateral consisting of Common Stock and OP Units, an amount equal to the initial public offering price of shares of the Company’s common stock multiplied by the number of shares of Common Stock and OP Units; and (ii) for all other Collateral, the fair market value of such Collateral as determined by a majority of the directors of the Company who meet the New York Stock Exchange standards of independence for directors, and who are otherwise unaffiliated with as determined by the Pledgee Board of Directors of the Company (the “Independent Directors”).

Claims; Value of Collateral. (a) Any claims by an Indemnified Party shall be made in accordance with Article 3 of Exhibit C to the Contribution Agreement. On or prior to the first (1st) anniversary of the Closing (the “Survival Period”), an Indemnified Party may give notice (a “Claim Notice”) to the Pledgor of any Loss that is subject to indemnification under Article 3 to Exhibit C of the Contribution Agreement. (b) The value of Collateral (the “Value”) shall be determined as follows: (i) with respect to Collateral consisting of OP Units, an amount equal to the initial public offering price of shares of the Company’s common stock multiplied by the number of OP Units; and (ii) for all other Collateral, the fair market value of such Collateral as determined by a majority of the directors of the Company who meet the New York Stock Exchange standards of independence for directors, and who are otherwise unaffiliated with as determined by the Pledgee Board of Directors of the Company (the “Independent Directors”).