Common use of Qualifying and Maintaining Qualification as a REIT Clause in Contracts

Qualifying and Maintaining Qualification as a REIT. From the effective date of the Company’s election to qualify as a REIT until the Restriction Termination Date (as defined in Article XIII) of the Company, the Manager and its officers shall take such action from time to time as the Manager determines is necessary or appropriate in order to maintain the Company’s qualification as a REIT; provided, however, if the Manager determines that it is no longer in the best interests of the Company to continue to be qualified as a REIT, the Manager may authorize the Company to revoke or otherwise terminate its REIT election pursuant to Section 856(g) of the Code. It is intended that the Company will elect to be treated as a corporation effective as of the Company’s formation. Furthermore, it is intended that the Company will elect to be taxed as a REIT commencing with the taxable year ending December 31, 2019, or commencing at such time as the Manager determines in its sole discretion, until the Restriction Termination Date of the Company.

Qualifying and Maintaining Qualification as a REIT. From the effective date of the Company’s election to qualify as a REIT until the Restriction Termination Date (as defined in Article XIII) of the Company, the Manager and its officers shall take such action from time to time as the Manager determines is necessary or appropriate in order to maintain the Company’s qualification as a REIT; provided, however, if the Manager determines that it is no longer in the best interests of the Company to continue to be qualified as a REIT, the Manager may authorize the Company to revoke or otherwise terminate its REIT election pursuant to Section 856(g) of the Code. It is intended that the Company will elect to be treated as a corporation effective as of the Company’s formation. Furthermore, it is intended that the Company will elect to be taxed as a REIT commencing with the taxable year ending December 31, 20192020, or commencing at such time as the Manager determines in its sole discretion, until the Restriction Termination Date of the Company.

Qualifying and Maintaining Qualification as a REIT. From the effective date of the Company’s election to qualify as a REIT until the Restriction Termination Date (as defined in Article XIII) of the Company, the Manager and its officers shall take such action from time to time as the Manager determines is necessary or appropriate in order to maintain the Company’s qualification as a REIT; REIT; provided, however, if the Manager determines that it is no longer in the best interests of the Company to continue to be qualified as a REIT, the Manager may authorize the Company to revoke or otherwise terminate its REIT election pursuant to Section 856(g) of the Code. It is intended that the Company will elect to be treated as a corporation effective as of the Company’s formation. Furthermore, it is intended that the Company will elect to be taxed as a REIT commencing with the taxable year ending December 31, 2019, or commencing at such time as the Manager determines in its sole discretion, until the Restriction Termination Date of the Company.