Common use of REIT Opinion Clause in Contracts

REIT Opinion. REIT II shall have received a written opinion of Axxxxx & Bird LLP, or other counsel to REIT I reasonably satisfactory to REIT II, dated as of the Closing Date and in form and substance reasonably satisfactory to REIT II, to the effect that, commencing with REIT I’s taxable year that ended on December 31, 2011, REIT I has been organized and operated in conformity with the requirements for qualification and taxation as a REIT under the Code and its actual method of operation has enabled REIT I to meet, through the REIT Merger Effective Time, the requirements for qualification and taxation as a REIT under the Code, which opinion will be subject to customary exceptions, assumptions and qualifications and based on customary representations contained in an officer’s certificate executed by REIT I and the REIT I Operating Partnership.

REIT Opinion. REIT II shall have received a written opinion of Axxxxx Xxxxxxxx & Bird Xxxxxxxx LLP, or other counsel to REIT I reasonably satisfactory to REIT II, dated as of the Closing Date and in form and substance reasonably satisfactory to REIT II, to the effect that, commencing with REIT I’s 's taxable year that ended on December 31, 20112013, REIT I has been organized and operated in conformity with the requirements for qualification and taxation as a REIT under the Code and its actual method of operation has enabled REIT I to meet, through the REIT Merger Effective Time, the requirements for qualification and taxation as a REIT under the Code, which opinion will be subject to customary exceptions, assumptions and qualifications and based on customary representations contained in an officer’s 's certificate executed by REIT I and the REIT I Operating Partnership.I.

REIT Opinion. REIT II I shall have received a written opinion of Axxxxx Xxxxxxxx & Bird Xxxxxxxx LLP, or other counsel to REIT I II reasonably satisfactory to REIT III, dated as of the Closing Date and in form and substance reasonably satisfactory to REIT III, to the effect that, commencing with REIT I’s II's taxable year that ended on December 31, 20112016, REIT I II has been organized and operated in conformity with the requirements for qualification and taxation as a REIT under the Code and its actual method of operation has enabled REIT I II to meet, through the REIT Merger Effective Time, the requirements for qualification and taxation as a REIT under the Code, which opinion will be subject to customary exceptions, assumptions and qualifications and based on customary representations contained in an officer’s 's certificate executed by REIT I and the REIT I Operating PartnershipII.

REIT Opinion. REIT II shall have received a written opinion of Axxxxx Xxxxxx, Xxxxxxx & Bird Xxxxxx, LLP, or other counsel to REIT I reasonably satisfactory to REIT II, dated as of the Closing Date and in form and substance reasonably satisfactory to REIT II, to the effect that, commencing with REIT I’s taxable year that ended on December 31, 20112010, REIT I has been organized and operated in conformity with the requirements for qualification and taxation as a REIT under the Code and its actual method of operation has enabled REIT I to meet, through the REIT Merger Effective TimeClosing, the requirements for qualification and taxation as a REIT under the Code, which opinion will be subject to customary exceptions, assumptions and qualifications and based on customary representations contained in an officer’s certificate executed by REIT I and the REIT I Operating Partnership.

REIT Opinion. REIT II I shall have received a written opinion of Axxxxx Xxxxxx, Xxxxxxx & Bird Xxxxxx, LLP, or other counsel to REIT I II reasonably satisfactory to REIT III, dated as of the Closing Date and in form and substance reasonably satisfactory to REIT III, to the effect that, commencing with REIT III’s taxable year that ended on December 31, 20112014, REIT I II has been organized and operated in conformity with the requirements for qualification and taxation as a REIT under the Code and its actual proposed method of operation has enabled will enable REIT I II to meet, through the REIT Merger Effective TimeClosing, the requirements for qualification and taxation as a REIT under the Code, which opinion will be subject to customary exceptions, assumptions and qualifications and based on customary representations contained in an officer’s certificate executed by REIT I II and the REIT I II Operating Partnership.

REIT Opinion. REIT II I shall have received a written opinion of Axxxxx & Bird LLP, or other counsel to REIT I II reasonably satisfactory to REIT III, dated as of the Closing Date and in form and substance reasonably satisfactory to REIT III, to the effect that, commencing with REIT III’s taxable year that ended on December 31, 20112015, REIT I II has been organized and operated in conformity with the requirements for qualification and taxation as a REIT under the Code and its actual current and proposed method of operation has enabled will enable REIT I II to meet, through the REIT Merger Effective Time, continue to meet the requirements for qualification and taxation as a REIT under the Code, which opinion will be subject to customary exceptions, assumptions and qualifications and based on customary representations contained in an officer’s certificate executed by REIT I II and the REIT I II Operating Partnership.

REIT Opinion. REIT II I shall have received a written opinion of Axxxxx & Bird LLPDLA Piper LLP (US), or other counsel to REIT I II reasonably satisfactory to REIT III, dated as of the Closing Date and in form and substance reasonably satisfactory to REIT III, to the effect that, commencing with REIT III’s taxable year that ended on December 31, 20112014, REIT I II has been organized and operated in conformity with the requirements for qualification and taxation as a REIT under the Code and its actual method of operation has enabled REIT I II to meet, through the REIT Merger Effective TimeClosing, the requirements for qualification and taxation as a REIT under the Code, which opinion will be subject to customary exceptions, assumptions and qualifications and based on customary representations contained in an officer’s certificate executed by REIT I II and the REIT I II Operating Partnership.