Common use of Limited Distributions of Income on Property Clause in Contracts

Limited Distributions of Income on Property. (a) Upon receipt by the Trustee of an Officer’s Certificate signed by either of the Co-Chief Executive Officers of the Company certifying as true, accurate and complete a copy of any tax return required to be filed on behalf of the Trust Account in respect of income earned on the Property held therein, the Trustee shall deliver to the Company for submission to the appropriate taxing authority a check made payable to the order of such taxing authority in the amount required to pay such taxes; provided, however, that in no event shall the aggregate amount of all checks issued to taxing authorities pursuant to this Section 2(a) exceed the income in respect of which such taxes are due and owing. (b) Upon one or more written requests from the Company, the Trustee shall distribute to the Company interest earned on the Trust Account, up to a maximum of $600,000 in the aggregate. The distributions requested by the Company may be for any amount, provided that (i) in the aggregate, all distributions under this Section 2(b) may not exceed $600,000, and (ii) that such distributions may only be made if and to the extent that interest has been earned on the amount initially deposited into the Trust Account. (c) Except as provided in Sections 2(a) and 2(b) above, no other distributions from the Trust Account shall be permitted except in accordance with Sections 1(i) and 1(j) hereof.

Limited Distributions of Income on Property. (a) Upon receipt by the Trustee of an Officer’s Certificate signed by either of the Co-Chairman of the Board or President and Chief Executive Officers Financial Officer of the Company certifying as true, accurate and complete a copy of any tax return required to be filed on behalf of the Trust Account in respect of income earned on the Property held therein, the Trustee shall deliver to the Company for submission to the appropriate taxing authority a check made payable to the order of such taxing authority in the amount required to pay such taxes; provided, however, that in no event shall the aggregate amount of all checks issued to taxing authorities pursuant to this Section 2(a) exceed the income in respect of which such taxes are due and owing. (b) Upon one or more written requests request from the Company, which may be given not more than once in any calendar quarter, the Trustee shall distribute to the Company interest earned on the Trust Account, up to a maximum of $600,000 550,000 in the aggregate. The distributions requested by the Company may be for any amount, provided that (i) in the aggregate, all distributions under this Section 2(b) may not exceed $600,000550,000, and (ii) that such distributions may only be made if and to the extent that interest has been earned on the amount initially deposited into the Trust Account. (c) Except as provided in Sections 2(a) and 2(b) above, no other distributions from the Trust Account shall be permitted except in accordance with Sections 1(i) and 1(j) hereof.

Limited Distributions of Income on Property. (a) Upon receipt by the Trustee of an Officer’s Certificate signed by either of the Co-Chief Executive Officers Officer and Chief Financial Officer of the Company certifying as true, accurate and complete a copy of any tax return required to be filed on behalf of the Trust Account in respect of income earned on the Property held therein, the Trustee shall deliver to the Company for submission to the appropriate taxing authority a check made payable to the order of such taxing authority in the amount required to pay such taxes; provided, however, that in no event shall the aggregate amount of all checks issued to taxing authorities pursuant to this Section 2(a) exceed the income in respect of which such taxes are due and owing. (b) Upon one or more written requests from the Company, which may be given not more than once in any calendar month period, the Trustee shall distribute to the Company interest earned on the Trust Account, net of taxes payable, up to a maximum of $600,000 in the aggregate2,000,000. The distributions requested by the Company may be for any amount, provided that (i) in the aggregate, all distributions under this Section 2(b) may not exceed $600,0002,000,000, and (ii) that such distributions may only be made if and to the extent that interest has been earned on the amount initially deposited into the Trust Account. (c) Except as provided in Sections 1(i), 1(j), 2(a) and 2(b) above, no other distributions from the Trust Account shall be permitted except in accordance with Sections 1(i) and 1(j) hereofpermitted.