Common use of Operation in Accordance with REIT Requirements Clause in Contracts

Operation in Accordance with REIT Requirements. The Manager shall exercise commercially reasonable efforts to cause the Company to own, operate and dispose of its assets such that the nature of all of the Company's assets and gross revenues (as determined pursuant to Code Sections 856(c)(2), (3) and (4)) would permit the Company to (i) qualify as a REIT (assuming for this purpose that the Company otherwise qualified as a REIT) and (ii) avoid incurring any tax on either prohibited transactions under Code Section 857(b)(6) or on re-determined rents, re-determined deductions, and excess interest under Code Section 857(b)(7) (determined as if the Company were a REIT). In addition, the Company shall make current cash distributions pursuant to Section 6 hereof during each calendar year in an amount at least equal to the taxable income allocable to Bluerock for such calendar year.

Operation in Accordance with REIT Requirements. The Manager shall exercise commercially reasonable efforts to cause the Company to own, operate and dispose of its assets such that the nature of all of the Company's ’s assets and gross revenues (as determined pursuant to Code Sections 856(c)(2), (3) and (4)) would permit the Company to (i) qualify as a REIT (assuming for this purpose that the Company otherwise qualified as a REIT) and (ii) avoid incurring any tax on either prohibited transactions under Code Section 857(b)(6) or on re-determined rents, re-determined deductions, and excess interest under Code Section 857(b)(7) (determined as if the Company were a REIT). In addition, the Company shall make current cash distributions pursuant to Section 6 hereof during each calendar year in an amount at least equal to the taxable income allocable to Bluerock for such calendar year.

Operation in Accordance with REIT Requirements. The Manager shall exercise commercially reasonable efforts to cause the Company to own, operate and dispose of its assets such that the nature of all of the Company's ’s assets and gross revenues (as determined pursuant to Code Sections 856(c)(2), (3) and (4)) would permit the Company to (i) qualify as a REIT (assuming for this purpose that the Company otherwise qualified as a REIT) and (ii) avoid incurring any tax on either prohibited transactions under Code Section 857(b)(6) or on re-determined rents, re-determined deductions, and excess interest under Code Section 857(b)(7) (determined as if the Company were a REIT). In addition, the Company shall make current cash distributions pursuant to Section 6 6.3 hereof during each calendar year in an amount at least equal to the taxable income allocable to Bluerock for such calendar year.