Common use of Exceptions to Exercise of Redemption Right Clause in Contracts

Exceptions to Exercise of Redemption Right. Notwithstanding the provisions of Sections 8.6A and 8.6B, a Partner shall not be entitled to exercise the Redemption Right pursuant to Section 8.6A if (but only as long as), in the written opinion of counsel to the General Partner, the delivery of Shares to such Partner on the Specified Redemption Date (i) would be prohibited under the Certificate of Incorporation, (ii) would cause a violation of the REIT Requirements, or (iii) would be prohibited (after giving effect to any applicable exemptions) under applicable Federal or state securities laws or regulations (in each case regardless of whether the General Partner would in fact assume and satisfy the Redemption Right).

Exceptions to Exercise of Redemption Right. Notwithstanding the provisions of Sections 8.6A and 8.6B, a Partner shall not be entitled to exercise the Redemption Right pursuant to Section 8.6A if (but only as long as), in the written opinion of counsel to the General Partner, the delivery of Shares to such Partner on the Specified Redemption Date (i) would be prohibited under the Certificate of IncorporationDeclaration, (ii) would cause a violation of the REIT Requirements, or (iii) would be prohibited (after giving effect to any applicable exemptions) under applicable Federal or state securities laws or regulations (in each case regardless of whether the General Partner would in fact assume and satisfy the Redemption Right).

Exceptions to Exercise of Redemption Right. Notwithstanding the provisions of Sections 8.6A 8.6.A and 8.6B8.6.B, a Partner shall not be entitled to exercise the Redemption Right pursuant to Section 8.6A 8.6.A if (but only as long as), in the written opinion of counsel to the General Partner, ) the delivery of Shares to such Partner on the Specified Redemption Date would be (i) would be prohibited under the Certificate restrictions on the ownership or transfer of IncorporationShares in the Articles of Incorporation (or, if the General Partner is not the General Partner Entity, the organizational documents of the General Partner Entity) or (ii) would cause a violation of the REIT Requirements, or (iii) would be prohibited (after giving effect to any applicable exemptions) under applicable Federal federal or state securities laws or regulations (in each case regardless of whether the General Partner Entity would in fact assume and satisfy the Redemption Right).

Exceptions to Exercise of Redemption Right. Notwithstanding the provisions of Sections 8.6A and 8.6B, a Partner shall not be entitled to exercise the Redemption Right pursuant to Section 8.6A if (but only as long as), in the written opinion of counsel to the General PartnerKramont, the delivery of Shares to such Partner on the Specified Redemption Date (i) would be prohibited under the Certificate of IncorporationDeclaration, (ii) would cause a violation of the REIT Requirements, or (iii) would be prohibited (after giving effect to any applicable exemptions) under applicable Federal or state securities laws or regulations (in each case regardless of whether the General Partner would in fact assume and satisfy the Redemption Right).