Common use of Federal Income Tax Provisions Clause in Contracts

Federal Income Tax Provisions. (a) The Trust will be wholly owned by the Certificateholder, which as of the Closing Date is the Seller. The Seller intends to make an election to be treated as a “real estate investment trust” (a “REIT”) under Section 856 of the Code. As such, the Seller, as the sole Certificateholder, will be regarded as (i) owning all assets owned by the Trust and (ii) having incurred all liabilities incurred by the Trust, and all transactions between the Trust and the Seller will be disregarded.