Common use of On-Going Covenants of the Company Clause in Contracts

On-Going Covenants of the Company. 3.1 Notwithstanding any provisions of the Charter to the contrary, the Company agrees that the Excepted Holder Limit granted to CIO OP by this Agreement and this Agreement shall not be revoked unless the Board of Directors determines based upon the written advice of counsel that such revocation is required for the preservation of the Company’s qualification as a REIT under the Code.

On-Going Covenants of the Company. 3.1 Notwithstanding any provisions of the Charter to the contrary, the Company agrees that the Excepted Holder Limit granted to CIO OP REIT by this Agreement and this Agreement shall not be revoked unless the Board of Directors determines based upon the written advice of counsel that such revocation is required for the preservation of the Company’s qualification as a REIT under the Code.