Common use of Investments, Loans, Advances and Acquisitions Clause in Contracts

Investments, Loans, Advances and Acquisitions. The Borrower will not, and will not permit any of its Subsidiaries to, purchase, hold or acquire (including pursuant to any merger with any Person that was not a wholly owned Subsidiary prior to such merger) any capital stock, evidences of indebtedness (subject to Section 6.09 below) or other securities (including any option, warrant or other right to acquire any of the foregoing) of, make or permit to exist any loans or advances to, or make or permit to exist any investment or any other interest in, any other Person, or purchase or otherwise acquire (in one transaction or a series of transactions) any assets of any other Person constituting a business unit, except: (a) Permitted Investments; (b) investments directly or indirectly in Real Property operated primarily as self-storage facilities; (c) investments directly or indirectly in unimproved land not to exceed ten percent (10%) of the Total Asset Value; (d) investments directly or indirectly in construction and development projects not to exceed fifteen percent (15%) of the Total Asset Value; (e) investments constituting mortgage loans on real estate (directly or indirectly) which are primarily self-storage facilities not to exceed fifteen percent (15%) of the Total Asset Value; (f) for investments in real estate (directly or indirectly) which are not primarily self-storage facilities and which the Borrower does not intend to convert to a self-storage facility within twenty-four (24) months, not to exceed ten percent (10%) of the Total Asset Value; and (g) any purchase or acquisition, directly or indirectly, of any such capital stock, evidence of indebtedness, or other securities of, or other investment in, a Person which is not a wholly owned Subsidiary of the Borrower where the value of such purchase or acquisition does not exceed fifteen percent (15%) of the Total Asset Value immediately before such purchase or acquisition, provided that the aggregate value of the investments described in Subsections (c) through (g) above shall not exceed twenty percent (20%) of the Total Asset Value.

Investments, Loans, Advances and Acquisitions. The Borrower Borrower’s sole asset will be the Preferred Equity Interests in each Operating Partnership. Parent will not, and will not permit any of its Subsidiaries to, purchase, hold or acquire (including pursuant to any merger with any Person that was not a wholly owned Subsidiary prior to such merger) any capital stock, evidences of indebtedness (subject to Section 6.09 below) or other securities (including any option, warrant or other right to acquire any of the foregoing) of, make or permit to exist any loans or advances to, or make or permit to exist any investment or any other interest in, any other Person, or purchase or otherwise acquire (in one transaction or a series of transactions) any assets of any other Person constituting a business unit, except:, solely as to the Parent (made, as to (a) through (f), through SSOP): (a) Permitted Investments; (b) investments directly or indirectly in Real Property primarily operated primarily as self-storage facilities; (c) investments directly or indirectly in unimproved land not to exceed ten five percent (105%) of the Total Asset Value; (d) investments directly or indirectly in construction and development projects not to exceed fifteen percent (15%) of the Total Asset Value; (e) investments Investments constituting mortgage loans on real estate (directly or indirectly) which are primarily self-storage facilities not to exceed fifteen ten percent (1510%) of the Total Asset Value; (f) for investments in real estate (directly or indirectly) which are not primarily self-storage facilities and which the Borrower Parent does not intend to convert to a self-storage facility within twenty-four (24) months, not to exceed ten percent (10%) of the Total Asset Value; and; (g) any purchase or acquisition, directly or indirectly, of any such capital stock, evidence of or indebtedness, or other securities of, or other investment in, a Person which is not a wholly owned Subsidiary of SSOP, or any assets of any other Person constituting a business unit, and any loan or advance to any other Person where the Borrower where amount of such loan or advance or the value of such purchase or acquisition does not exceed fifteen percent (15%) of the Total Asset Value immediately before such loan, advance, purchase or acquisition, . provided that the aggregate value of the investments described in Subsections (c) through (gf) above shall not exceed twenty percent (20%) of the Total Asset Value.

Investments, Loans, Advances and Acquisitions. The Borrower Parent will not, not and will not permit any of its Subsidiaries to, purchase, hold or acquire (including pursuant to any merger with any Person that was not a wholly owned Subsidiary prior to such merger) any capital stock, evidences of indebtedness (subject to Section 6.09 below) or other securities (including any option, warrant or other right to acquire any of the foregoing) of, make or permit to exist any loans or advances to, or make or permit to exist any investment or any other interest in, any other Person, or purchase or otherwise acquire (in one transaction or a series of transactions) any assets of any other Person constituting a business unit, except: (a) Permitted Investments; (b) investments directly or indirectly in Real Property operated primarily as self-storage facilities, including, for the avoidance of doubt, any merger (subject to the provisions of Section 6.02) or similar transaction, by which the Parent or the Borrower acquire, directly or indirectly, self-storage facilities; (c) investments directly or indirectly in unimproved land not to exceed ten five percent (105%) of the Total Applicable Asset Value; (d) investments directly or indirectly in construction and development projects not to exceed fifteen ten percent (1510%) of the Total Applicable Asset Value; (e) investments constituting mortgage loans on real estate (directly or indirectly) which are primarily self-storage facilities not to exceed fifteen five percent (155%) of the Total Asset Value; (f) for investments in real estate (directly or indirectly) which are not primarily self-storage facilities and which the Borrower does not intend to convert to a self-storage facility within twenty-four (24) months, not to exceed ten percent (10%) of the Total Applicable Asset Value; and (gf) any purchase or acquisition, directly or indirectly, of any such capital stock, evidence of indebtedness, or other securities of, or other investment in, a Person which is not a wholly owned Subsidiary of the Borrower Borrower, or any assets of any other Person constituting a business unit, and any loan or advance to any other Person where the amount of such loan or advance or the value of such purchase or acquisition does not exceed fifteen percent (15%) of the Total Applicable Asset Value immediately before such loan, advance, purchase or acquisition, . provided that the aggregate value of the investments described in Subsections (c) through (gf) above shall not exceed twenty five percent (2025%) of the Total Applicable Asset Value; any breach of the investment restriction set forth above shall not constitute an Event of Default hereunder, but shall result in the exclusion of such Excess Amount when calculating Applicable Asset Value.

Investments, Loans, Advances and Acquisitions. The Borrower will not, Parent and its Subsidiaries will not permit any of its Subsidiaries to, purchase, hold or acquire (including pursuant to any merger with any Person that was not a wholly owned Subsidiary prior to such merger) any capital stock, evidences of indebtedness (subject to Section 6.09 below) or other securities (including any option, warrant or other right to acquire any of the foregoing) of, make or permit to exist any loans or advances to, or make or permit to exist any investment or any other interest in, any other Person, or purchase or otherwise acquire (in one transaction or a series of transactions) any assets of any other Person constituting a business unit, except: (a) Permitted Investments; (b) investments directly or indirectly in Real Property operated primarily as self-storage facilities; (c) investments directly or indirectly in unimproved land not to exceed ten five percent (105%) of the Total Asset Value; (d) investments directly or indirectly in construction and development projects not to exceed fifteen percent (15%) of the Total Asset Value; (e) investments constituting mortgage loans on real estate (directly or indirectly) which are primarily self-storage facilities not to exceed fifteen ten percent (1510%) of the Total Asset Value; (f) for investments in real estate (directly or indirectly) which are not primarily self-storage facilities and which the Borrower Parent does not intend to convert to a self-storage facility within twenty-four (24) months, not to exceed ten percent (10%) of the Total Asset Value; and (g) any purchase or acquisition, directly or indirectly, of any such capital stock, evidence of indebtedness, or other securities of, or other investment in, a Person which is not a wholly owned Subsidiary of the Borrower Parent, or any assets of any other Person constituting a business unit, and any loan or advance to any other Person where the amount of such loan or advance or the value of such purchase or acquisition does not exceed fifteen twenty percent (1520%) of the Total Asset Value immediately before such loan, advance, purchase or acquisition, . provided that the aggregate value of the investments described in Subsections (c) through (g) above shall not exceed twenty twenty-five percent (2025%) of the Total Asset Value.

Investments, Loans, Advances and Acquisitions. The Borrower will not, and its Subsidiaries will not permit any of its Subsidiaries to, purchase, hold or acquire (including pursuant to any merger with any Person that was not a wholly owned Subsidiary prior to such merger) any capital stock, evidences of indebtedness (subject to Section 6.09 below) or other securities (including any option, warrant or other right to acquire any of the foregoing) of, make or permit to exist any loans or advances to, or make or permit to exist any investment or any other interest in, any other Person, or purchase or otherwise acquire (in one transaction or a series of transactions) any assets of any other Person constituting a business unit, except: (a) Permitted Investments; (b) investments directly or indirectly in Real Property operated primarily as self-storage facilities; (c) investments directly or indirectly in unimproved land not to exceed ten five percent (105%) of the Total Asset Value; (d) investments directly or indirectly in construction and development projects not to exceed fifteen percent (15%) of the Total Asset Value; (e) investments constituting mortgage loans on real estate (directly or indirectly) which are primarily self-storage facilities not to exceed fifteen ten percent (1510%) of the Total Asset Value; (f) for investments in real estate (directly or indirectly) which are not primarily self-storage facilities and which the Borrower does not intend to convert to a self-storage facility within twenty-four (24) months, not to exceed ten percent (10%) of the Total Asset Value; and (g) any purchase or acquisition, directly or indirectly, of any such capital stock, evidence of indebtedness, or other securities of, or other investment in, a Person which is not a wholly owned Subsidiary of the Borrower Borrower, or any assets of any other Person constituting a business unit, and any loan or advance to any other Person where the amount of such loan or advance or the value of such purchase or acquisition does not exceed fifteen twenty percent (1520%) of the Total Asset Value immediately before such loan, advance, purchase or acquisition, . provided that the aggregate value of the investments described in Subsections (c) through (g) above shall not exceed twenty twenty-five percent (2025%) of the Total Asset Value.

Investments, Loans, Advances and Acquisitions. The Borrower will not, and its Subsidiaries will not permit any of its Subsidiaries to, purchase, hold or acquire (including pursuant to any merger with any Person that was not a wholly owned Subsidiary prior to such merger) any capital stock, evidences of indebtedness (subject to Section 6.09 below) or other securities (including any option, warrant or other right to acquire any of the foregoing) of, make or permit to exist any loans or advances to, or make or permit to exist any investment or any other interest in, any other Person, or purchase or otherwise acquire (in one transaction or a series of transactions) any assets of any other Person constituting a business unit, except: (a) Permitted Investments; (b) investments directly or indirectly in Real Property operated primarily as self-storage facilities; (c) investments directly or indirectly in unimproved land not to exceed ten five percent (105%) of the Total Asset Value; (d) investments directly or indirectly in construction and development projects not to exceed fifteen percent (15%) of the Total Asset Value; (e) investments constituting mortgage loans on real estate (directly or indirectly) which are primarily self-storage facilities not to exceed fifteen ten percent (1510%) of the Total Asset Value; (f) for investments in real estate (directly or indirectly) which are not primarily self-storage facilities and which the Borrower does not intend to convert to a self-storage facility within twenty-four (24) months, not to exceed ten five percent (105%) of the Total Asset Value; and (g) any purchase or acquisition, directly or indirectly, of any such capital stock, evidence of indebtedness, or other securities of, or other investment in, a Person which is not a wholly owned Subsidiary of the Borrower Borrower, or any assets of any other Person constituting a business unit, and any loan or advance to any other Person where the amount of such loan or advance or the value of such purchase or acquisition does not exceed fifteen percent (15%) of the Total Asset Value immediately before such loan, advance, purchase or acquisition, . provided that the aggregate value of the investments described in Subsections (c) through (g) above shall not exceed twenty twenty-five percent (2025%) of the Total Asset Value; any breach of the investment restriction set forth above shall not constitute an Event of Default hereunder, but shall result in the exclusion of such Excess Amount when calculating Total Asset Value.

Investments, Loans, Advances and Acquisitions. The Borrower will not, and will not permit any of its Subsidiaries to, purchase, hold or acquire (including pursuant to any merger with any Person that was not a wholly owned Subsidiary prior to such merger) any capital stock, evidences of indebtedness (subject to Section 6.09 below) or other securities (including any option, warrant or other right to acquire any of the foregoing) of, make or permit to exist any loans or advances to, or make or permit to exist any investment or any other interest in, any other Person, or purchase or otherwise acquire (in one transaction or a series of transactions) any assets of any other Person constituting a business unit, except: (a) Permitted Investments; (b) investments directly or indirectly in Real Property operated primarily as self-storage facilities; (c) investments directly or indirectly in unimproved land not to exceed ten five percent (105%) of the Total Asset Value; (d) investments directly or indirectly in construction and development projects not to exceed fifteen percent (15%) of the Total Asset Value; (e) investments constituting mortgage loans on real estate (directly or indirectly) which are primarily self-storage facilities not to exceed fifteen ten percent (1510%) of the Total Asset Value; (f) for investments in real estate (directly or indirectly) which are not primarily self-storage facilities and which the Borrower does not intend to convert to a self-storage facility within twenty-four (24) months, not to exceed ten percent (10%) of the Total Asset Value; and (g) any purchase or acquisition, directly or indirectly, of any such capital stock, evidence of indebtedness, or other securities of, or other investment in, a Person which is not a wholly owned Subsidiary of the Borrower Borrower, or any assets of any other Person constituting a business unit, and any loan or advance to any other Person where the amount of such loan or advance or the value of such purchase or acquisition does not exceed fifteen percent (15%) of the Total Asset Value immediately before such loan, advance, purchase or acquisition, provided that the aggregate value of the investments described in Subsections (c) through (gf) above shall not exceed twenty percent (20%) of the Total Asset Value.

Investments, Loans, Advances and Acquisitions. The Borrower will not, Parent and its Subsidiaries will not permit any of its Subsidiaries to, purchase, hold or acquire (including pursuant to any merger with any Person that was not a wholly owned Subsidiary prior to such merger) any capital stock, evidences of indebtedness (subject to Section 6.09 below) or other securities (including any option, warrant or other right to acquire any of the foregoing) of, make or permit to exist any loans or advances to, or make or permit to exist any investment or any other interest in, any other Person, or purchase or otherwise acquire (in one transaction or a series of transactions) any assets of any other Person constituting a business unit, except: (a) Permitted Investments; (b) investments directly or indirectly in Real Property operated primarily as self-storage facilities; (c) investments directly or indirectly in unimproved land not to exceed ten five percent (105%) of the Total Asset Value; (d) investments directly or indirectly in construction and development projects not to exceed fifteen percent (15%) of the Total Asset Value; (e) investments constituting mortgage loans on real estate (directly or indirectly) which are primarily self-storage facilities not to exceed fifteen ten percent (1510%) of the Total Asset Value; (f) for investments in real estate (directly or indirectly) which are not primarily self-storage facilities and which the Borrower Parent does not intend to convert to a self-storage facility within twenty-four (24) months, not to exceed ten five percent (105%) of the Total Asset Value; and (g) any purchase or acquisition, directly or indirectly, of any such capital stock, evidence of indebtedness, or other securities of, or other investment in, a Person which is not a wholly owned Subsidiary of the Borrower Parent, or any assets of any other Person constituting a business unit, and any loan or advance to any other Person where the amount of such loan or advance or the value of such purchase or acquisition does not exceed fifteen percent (15%) of the Total Asset Value immediately before such loan, advance, purchase or acquisition, . provided that the aggregate value of the investments described in Subsections (c) through (g) above shall not exceed twenty twenty-five percent (2025%) of the Total Asset Value; any breach of the investment restriction set forth above shall not constitute an Event of Default hereunder, but shall result in the exclusion of such Excess Amount when calculating Total Asset Value.

Investments, Loans, Advances and Acquisitions. The Borrower will not, and will not permit any of its Subsidiaries to, purchase, hold or acquire (including pursuant to any merger with any Person that was not a wholly owned Subsidiary prior to such merger) any capital stockEquity Interests, evidences of indebtedness (subject to Section 6.09 below) or other securities (including any option, warrant or other right to acquire any of the foregoing) of, make or permit to exist any loans or advances to, or make or permit to exist any investment or any other interest in, any other Person, or purchase or otherwise acquire (in one transaction or a series of transactions) any assets of any other Person constituting a business unit, except: (a) Permitted Investments; (b) investments directly or indirectly in Real Property operated primarily as self-storage facilitiesparking properties; (c) investments directly or indirectly in unimproved undeveloped land, so long as the aggregate Value of such land does not to exceed ten five percent (105%) of Total Asset Value, after giving effect to such investments; (d) Assets Under Development, so long as the aggregate Value thereof does not exceed five percent (5%) of the Total Asset Value; (d) investments directly or indirectly in construction and development projects not Value after giving effect to exceed fifteen percent (15%) of the Total Asset Valuesuch investments; (e) investments constituting mortgage loans on real estate (directly or indirectly) which are primarily selfin non-storage facilities not to exceed fifteen percent (15%) of the Total Asset Value; (f) for investments in real estate (directly or indirectly) which are not primarily self-storage facilities and which the Borrower does not intend to convert to a self-storage facility within twenty-four (24) months, not to exceed ten percent (10%) of the Total Asset Value; and (g) any purchase or acquisition, directly or indirectly, of any such capital stock, evidence of indebtedness, or other securities of, or other investment in, a Person which is not a wholly owned Subsidiary of direct and indirect subsidiaries so long as the Borrower where the value aggregate amount of such purchase or acquisition investments described in this clause (e) does not exceed fifteen percent (15%) of the Total Asset Value immediately before after giving effect to such purchase or acquisitioninvestments (for the purposes of this clause (e) non-wholly owned shall mean less than a 90% ownership interest); (f) investments in mortgage notes receivable not exceeding five percent (5%) of Total Asset Value after giving effect to such investments; and (g) mergers, provided that consolidations and other transactions permitted under Section 6.02, so long as same do not cause the Borrower to be in violation of any provision of this Section 6.03. Provided (i) the aggregate total value of the investments Investments described in Subsections subsections (c) through (gf) above shall will not exceed twenty percent (20%) of Total Asset Value on a consolidated basis, and (ii) any violation of the foregoing limitations shall not constitute an Event of Default but shall result in the exclusion of the excess value of any Investment in excess of any of the foregoing limitations from the calculation of Total Asset Value.

Investments, Loans, Advances and Acquisitions. The Borrower Parent will not, not and will not permit any of its Subsidiaries to, purchase, hold or acquire (including pursuant to any merger with any Person that was not a wholly owned Subsidiary prior to such merger) any capital stock, evidences of indebtedness (subject to Section 6.09 below) or other securities (including any option, warrant or other right to acquire any of the foregoing) of, make or permit to exist any loans or advances to, or make or permit to exist any investment or any other interest in, any other Person, or purchase or otherwise acquire (in one transaction or a series of transactions) any assets of any other Person constituting a business unit, except: (a) Permitted Investments; (b) investments directly or indirectly in Real Property operated primarily as self-storage facilities; (c) investments directly or indirectly in unimproved land not to exceed ten five percent (105%) of the Total Asset Value; (d) investments directly or indirectly in construction and development projects not to exceed fifteen twenty percent (1520%) of the Total Asset Value; (e) investments constituting mortgage loans on real estate (directly or indirectly) which are primarily self-storage facilities not to exceed fifteen ten percent (1510%) of the Total Asset Value; (f) for investments in real estate (directly or indirectly) which are not primarily self-storage facilities and which the Borrower Property Party does not intend to convert to a self-storage facility within twenty-four (24) months, not to exceed ten percent (10%) of the Total Asset Value; and (g) any purchase or acquisition, directly or indirectly, of any such capital stock, evidence of indebtedness, or other securities of, or other investment in, a Person which is not a wholly owned Subsidiary of the Borrower Borrower, or any assets of any other Person constituting a business unit, and any loan or advance to any other Person where the amount of such loan or advance or the value of such purchase or acquisition does not exceed fifteen twenty percent (1520%) of the Total Asset Value immediately before such loan, advance, purchase or acquisition, . provided that the aggregate value of the investments described in Subsections (c) through (g) above shall not exceed twenty percent (20%) of the Total Asset Value; any breach of the investment restriction set forth above shall not constitute an Event of Default hereunder, but shall result in the exclusion of such Excess Amount when calculating Total Asset Value.

Investments, Loans, Advances and Acquisitions. The Borrower Parent will not, not and will not permit any of its Subsidiaries to, purchase, hold or acquire (including pursuant to any merger with any Person that was not a wholly owned Subsidiary prior to such merger) any capital stock, evidences of indebtedness (subject to Section 6.09 below) or other securities (including any option, warrant or other right to acquire any of the foregoing) of, make or permit to exist any loans or advances to, or make or permit to exist any investment or any other interest in, any other Person, or purchase or otherwise acquire (in one transaction or a series of transactions) any assets of any other Person constituting a business unit, except: (a) Permitted Investments; (b) investments directly or indirectly in Real Property operated primarily as self-storage facilities; (c) investments directly or indirectly in unimproved land not to exceed ten five percent (105%) of the Total Asset Value; (d) investments directly or indirectly in construction and development projects not to exceed fifteen ten percent (1510%) of the Total Asset Applicable Value; (e) investments constituting mortgage loans on real estate (directly or indirectly) which are primarily self-storage facilities not to exceed fifteen five percent (155%) of the Total Asset Value; (f) for investments in real estate (directly or indirectly) which are not primarily self-storage facilities and which the Borrower does not intend to convert to a self-storage facility within twenty-four (24) months, not to exceed ten percent (10%) of the Total Asset Applicable Value; and (gf) any purchase or acquisition, directly or indirectly, of any such capital stock, evidence of indebtedness, or other securities of, or other investment in, a Person which is not a wholly owned Subsidiary of the Borrower Borrower, or any assets of any other Person constituting a business unit, and any loan or advance to any other Person where the amount of such loan or advance or the value of such purchase or acquisition does not exceed fifteen percent (15%) of the Total Asset Applicable Value immediately before such loan, advance, purchase or acquisition, . provided that the aggregate value of the investments described in Subsections (c) through (gf) above shall not exceed twenty five percent (2025%) of the Total Asset Applicable Value; any breach of the investment restriction set forth above shall not constitute an Event of Default hereunder, but shall result in the exclusion of such Excess Amount when calculating Applicable Value.

Investments, Loans, Advances and Acquisitions. The Borrower will not, and will not permit any of its Subsidiaries to, purchase, hold or acquire (including pursuant to any merger with any Person that was not a wholly owned Subsidiary prior to such merger) any capital stock, evidences of indebtedness (subject to Section 6.09 below) or other securities (including any option, warrant or other right to acquire any of the foregoing) of, make or permit to exist any loans or advances to, or make or permit to exist any investment or any other interest in, any other Person, or purchase or otherwise acquire (in one transaction or a series of transactions) any assets of any other Person constituting a business unit, except: (a) Permitted Investments; (b) investments directly or indirectly in Real Property operated primarily as self-storage facilities; (c) investments directly or indirectly in unimproved land not to exceed ten fifteen percent (1015%) of the Total Asset ValueValue prior to July 31, 2016, or five percent (5%) of the Total Asset Value thereafter; (d) investments directly or indirectly in construction and development projects not to exceed twenty percent (20%) of the Total Asset Value prior to July 31, 2016, or fifteen percent (15%) of the Total Asset ValueValue thereafter; (e) investments constituting mortgage loans on real estate (directly or indirectly) which are primarily self-storage facilities not to exceed fifteen ten percent (1510%) of the Total Asset Value; (f) for investments in real estate (directly or indirectly) which are not primarily self-storage facilities and which the Borrower does not intend to convert to a self-storage facility within twenty-four (24) months, not to exceed ten percent (10%) of the Total Asset Value; and (g) any purchase or acquisition, directly or indirectly, of any such capital stock, evidence of indebtedness, or other securities of, or other investment in, a Person which is not a wholly owned Subsidiary of the Borrower Borrower, or any assets of any other Person constituting a business unit, and any loan or advance to any other Person where the amount of such loan or advance or the value of such purchase or acquisition does not exceed fifteen percent (15%) of the Total Asset Value immediately before such loan, advance, purchase or acquisition, provided that the aggregate value of the investments described in Subsections (c) through (gf) above shall not exceed thirty percent (30%) of the Total Asset Value prior to July 31, 2016, or twenty percent (20%) of the Total Asset ValueValue thereafter.