Common use of Qualification as a REIT Clause in Contracts

Qualification as a REIT. The General Partner shall use its best efforts to cause the Partnership to distribute sufficient amounts under this Article 5 to enable the General Partner to pay dividends to the Stockholders that will enable the General Partner to (a) satisfy the requirements for qualification as a REIT under the Code and Regulations (“REIT Requirements”), and (b) avoid any federal income or excise tax liability; provided, however, that the General Partner shall not be bound to comply with this covenant to the extent such distributions would (i) violate applicable Delaware law, or (ii) contravene the terms of any notes, mortgages or other types of debt obligations to which the Partnership may be subject in conjunction with borrowed funds.

Qualification as a REIT. The General Partner shall use its best efforts to cause the Partnership to distribute sufficient amounts under this Article 5 to enable the General Partner to pay dividends to the Stockholders that will enable the General Partner to to (a) satisfy the requirements for qualification as a REIT under the Code and Regulations (“REIT Requirements”), and and (b) avoid any federal income or excise tax liability; provided, however, that the General Partner shall not be bound to comply with this covenant to the extent such distributions would (iwould(i) violate applicable Delaware law, or or (ii) contravene the terms of any notes, mortgages or other types of debt obligations to which the Partnership may be subject in conjunction with borrowed funds.

Qualification as a REIT. The General Partner shall use its best efforts to cause the Partnership to distribute sufficient amounts under this Article 5 to enable the General Partner to pay dividends to the Stockholders that will enable the General Partner to (a) satisfy the requirements for qualification as a REIT under the Code and Regulations (“REIT Requirements”), and (b) avoid any U.S. federal income or excise tax liability; provided, however, that the General Partner shall not be bound to comply with this covenant to the extent such distributions would (i) violate applicable Delaware law, or (ii) contravene the terms of any notes, mortgages or other types of debt obligations to which the Partnership may be subject in conjunction with borrowed funds.

Qualification as a REIT. The General Partner shall use its best efforts to cause the Partnership to distribute sufficient amounts under this Article 5 to enable the General Partner to pay dividends to the Stockholders that will enable the General Partner to (a) satisfy the requirements for qualification as a REIT under the Code and Regulations (“REIT Requirements”), and (b) avoid any U.S. federal income or excise tax liability; provided, however, that the General Partner shall not be bound to comply with this covenant to the extent such distributions would (i) violate applicable Delaware law, law or (ii) contravene the terms of any notes, mortgages or other types of debt obligations to which the Partnership may be subject in conjunction with borrowed funds.

Qualification as a REIT. The General Partner shall use its best efforts to cause the Partnership to distribute sufficient amounts under this Article 5 to enable the General Partner to pay dividends to the Stockholders that will enable the General Partner to to (a) satisfy the requirements for qualification as a REIT under the Code and Regulations (“REIT Requirements”), and and (b) avoid any federal income or excise tax liability; provided, however, that the General Partner shall not be bound to comply with this covenant to the extent such distributions would would (i) violate applicable Delaware law, or or (ii) contravene the terms of any notes, mortgages or other types of debt obligations to which the Partnership may be subject in conjunction with borrowed funds. Notwithstanding the foregoing, the Limited Partners agree that the General Partner may terminate or revoke its status as a REIT at any time.

Qualification as a REIT. The General Partner shall use its best efforts to cause the Partnership to distribute sufficient amounts under this Article 5 to enable the General Initial Limited Partner to pay dividends to the Stockholders that will enable the General Initial Limited Partner to (a) satisfy the requirements for qualification as a REIT under the Code and Regulations (“REIT Requirements”), and (b) avoid any federal income or excise tax liability; provided, however, that the General Partner shall not be bound to comply with this covenant to the extent such distributions would (i) violate applicable Delaware law, or (ii) contravene the terms of any notes, mortgages or other types of debt obligations to which the Partnership may be subject in conjunction with borrowed funds.

Qualification as a REIT. The General Partner shall use its best efforts to cause the Partnership to distribute sufficient amounts under this Article 5 to enable the General Partner to pay dividends to the Stockholders that will enable the General Partner to (a) satisfy the requirements for qualification as a REIT under the Code and Regulations (“REIT Requirements”), and (b) avoid any federal income or excise tax liability; provided, however, that the General Partner shall not be bound to comply with this covenant to the extent such distributions would (i) violate applicable Delaware law, law or (ii) contravene the terms of any notes, mortgages or other types of debt obligations to which the Partnership may be subject in conjunction with borrowed funds.

Qualification as a REIT. The General Partner shall use its best efforts to cause the Partnership to distribute sufficient amounts under this Article 5 to enable the General Partner REIT Shares Issuer to pay dividends to the Stockholders that will enable the General Partner to REIT Shares Issuer to (a) satisfy the requirements for qualification as a REIT under the Code and Regulations (“REIT Requirements”), and and (b) avoid any federal income or excise tax liability; provided, however, that the General Partner shall not be bound to comply with this covenant to the extent such distributions would would (i) violate applicable Delaware law, or or (ii) contravene the terms of any notes, mortgages or other types of debt obligations to which the Partnership may be subject in conjunction with borrowed funds.

Qualification as a REIT. The General Partner shall use its best efforts to cause the Partnership to distribute sufficient amounts under this Article 5 6 to enable the General Partner Metropolis to pay stockholder dividends to the Stockholders that will enable the General Partner to (ai) satisfy the requirements for qualification qualifying as a REIT under the Code and Regulations (“"REIT Requirements”"), and and (bii) avoid any federal income or excise tax liabilityliability of Metropolis; provided, however, that the General Partner shall not be bound to comply with this covenant to the extent such distributions would would (i) violate applicable Delaware law, or law or (ii) contravene the terms of any notes, mortgages or other types of debt obligations to which the Partnership may be subject to in conjunction with borrowed funds.

Qualification as a REIT. The General Partner shall use its best efforts to cause the Partnership to distribute sufficient amounts under this Article ARTICLE 5 to enable the General Partner to pay dividends to the Stockholders Shareholders that will enable the General Partner to (a) satisfy the requirements for qualification as a REIT under the Code and Regulations (“REIT Requirements”), and (b) avoid any U.S. federal income or excise tax liability; provided, however, that the General Partner shall not be bound to comply with this covenant to the extent such distributions would (i) violate applicable Delaware law, or (ii) contravene the terms of any notes, mortgages or other types of debt obligations to which the Partnership may be subject in conjunction with borrowed funds.

Qualification as a REIT. The General Partner shall use its best efforts to cause the Partnership to distribute sufficient amounts under this Article 5 to enable the General Partner to pay shareholder dividends to the Stockholders that will enable the General Partner to (ai) satisfy the requirements for qualification qualifying as a REIT under the Code and Regulations (“"REIT Requirements”"), and and (bii) avoid any federal income or excise tax liability; liability of the General Partner, provided, however, that the General Partner shall not be bound to comply with this covenant to the extent such distributions would would (i) violate applicable Delaware law, or law or (ii) contravene the terms of any notes, mortgages or other types of debt obligations to which the Partnership may be subject to in conjunction with borrowed funds.

Qualification as a REIT. The General Partner shall use its best efforts to cause the Partnership to distribute sufficient amounts under this Article 5 to enable the General Partner to pay dividends to the Stockholders that will enable the General Partner to (a) satisfy the requirements for qualification as a REIT under the Code and Regulations (“REIT Requirements”), and (b) avoid any U.S. federal income or excise tax liability; provided, however, that the General Partner shall not be bound to comply with this covenant to the extent such distributions would (ia) violate applicable Delaware law, or (iib) contravene the terms of any notes, mortgages or other types of debt obligations to which the Partnership may be subject in conjunction with borrowed funds.

Qualification as a REIT. The General Partner shall use its best efforts to cause the Partnership to distribute sufficient amounts under this Article 5 to enable the General Partner Company to pay stockholder dividends to the Stockholders that will enable the General Partner to Company to (ai) satisfy the requirements for qualification as a REIT under the Code and Regulations (“"REIT Requirements”"), and and (bii) avoid any federal income or excise tax liability; provided, however, that the General Partner shall not be bound to comply with this covenant to the extent such distributions would would (i) violate applicable Delaware law, or law or (ii) contravene the terms of any notes, mortgages or other types of debt obligations to which the Partnership may be subject to in conjunction with borrowed funds.

Qualification as a REIT. The General Partner shall use its best efforts to cause the Partnership to distribute sufficient amounts under this Article 5 to enable the General Partner to pay dividends to the Stockholders that will enable the General Partner to (a) satisfy the requirements for qualification as a REIT under the Code and Regulations (“REIT Requirements”), and (b) avoid any federal income or excise tax liability; provided, however, that the General Partner shall not be bound to comply with this covenant to the extent such distributions would (i) violate applicable Delaware law, or (ii) contravene the terms of any notes, mortgages or other types of debt obligations to which the Partnership may be subject in conjunction with borrowed funds. Notwithstanding the foregoing, the Limited Partners agree that the General Partner may terminate or revoke its status as a REIT at any time.

Qualification as a REIT. The General Partner shall use its best efforts to cause the Partnership to distribute sufficient amounts under this Article 5 to enable the General Partner to pay dividends to the Stockholders shareholder distributions that will enable the General Partner to (ai) satisfy the requirements for qualification qualifying as a REIT under the Code and Regulations (“REIT Requirements”), and and (bii) avoid any federal income or excise tax liability; liability of the General Partner, provided, however, that the General Partner shall not be bound to comply with this covenant to the extent such distributions would would (i) violate applicable Delaware law, or law or (ii) contravene the terms of any notes, mortgages or other types of debt obligations to which the Partnership may be subject to in conjunction with borrowed funds.