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

Exceptions to Exercise of Redemption Right. Notwithstanding the provisions of Sections 8.7.A and 8.7.B above, a Partner shall not be entitled to exercise the Redemption Right pursuant to Section 8.7.A above if (but only as long as) the delivery of REIT Shares to such Partner on the Specified Redemption Date (i) would be prohibited under the Certificate of Incorporation, or (ii) as long as the REIT Shares are Publicly Traded, would be prohibited under applicable federal or state securities laws or regulations (assuming the Company would in fact assume and satisfy the Redemption Right). Furthermore, the Redemption Right pursuant to Sections 8.7.A and 8.7.B shall be subject to any restrictions on redemptions imposed by the General Partner pursuant to Section 7.9.

Exceptions to Exercise of Redemption Right. Notwithstanding the provisions of Sections 8.7.A and 8.7.B above, a Partner shall not be entitled to exercise the Redemption Right pursuant to Section 8.7.A above if (but only as long as) the delivery of REIT Shares to such Partner on the Specified Redemption Date (i) would be prohibited under the Certificate of IncorporationGoverning Documents, or (ii) as long as the REIT any Shares are Publicly Traded, would be prohibited under applicable federal or state securities laws or regulations (assuming the Company General Partner would in fact assume and satisfy the Redemption Right). Furthermore, the Redemption Right pursuant to Sections 8.7.A and 8.7.B shall be subject to any restrictions on redemptions imposed by the General Partner pursuant to Section 7.97.9.E hereof.