Common use of REIT Protection Clause in Contracts

REIT Protection. Anything contained in this Lease to the contrary notwithstanding, (i) no Transfer shall be consummated on any basis such that the rental or other amounts to be paid by the Occupant, assignee, manager or other transferee thereunder would be based, in whole or in part, on the income or profits derived by the business activities of the Occupant, assignee, manager or other transferee; (ii) Lessee shall not furnish or render any services to an Occupant, assignee, manager or other transferee with respect to whom Transfer Consideration is required to be paid or manage or operate the Leased Property and/or any Capital Additions so Transferred with respect to which Transfer Consideration is being paid; (iii) Lessee shall not consummate a Transfer with any Person in which Lessee or Lessor owns an interest, directly or indirectly (by applying constructive ownership rules set forth in Section 856(d)(5) of the Code); and (iv) Lessee shall not consummate a Transfer with any Person or in any manner which could cause any portion of the amounts received by Lessor pursuant to this Lease or any Occupancy Arrangement to fail to qualify as “rents from real property” within the meaning of Section 856(d) of the Code, or any similar or successor provision thereto or which could cause any other income of Lessor to fail to qualify as income described in Section 856(c)(2) of the Code.

REIT Protection. Anything contained in this Lease to the contrary notwithstanding, (ia) no Transfer shall be consummated on any basis such that the rental or other amounts to be paid by the Occupant, assignee, manager or other transferee thereunder would be based, in whole or in part, on the income or profits derived by the business activities of the Occupant, assignee, manager or other transferee; (iib) Lessee Tenant shall not furnish or render any services to an Occupant, assignee, manager or other transferee with respect to whom Transfer Consideration is required to be paid or manage or operate the Leased Property Premises and/or any Capital Additions so Transferred with respect to which consideration for the Transfer Consideration is being paid; (iiic) Lessee Tenant shall not consummate a Transfer with any Person in which Lessee Landlord or Lessor its Affiliate owns an interest, directly or indirectly (by applying constructive ownership rules set forth in Section 856(d)(5) of the Code); and (ivd) Lessee Tenant shall not consummate a Transfer with any Person or in any manner which could cause any portion of the amounts received by Lessor Landlord pursuant to this Lease or any Occupancy Arrangement to fail to qualify as “rents from real property” within the meaning of Section 856(d) of the Code, or any similar or successor provision thereto or which that could cause any other income of Lessor Landlord or its Affiliate to fail to qualify as income described in Section 856(c)(2) of the Code.

REIT Protection. Anything contained in this Lease to the contrary notwithstanding, (ia) no Transfer shall be consummated on any basis such that the rental or other amounts to be paid by the Occupant, assignee, manager or other transferee thereunder would be based, in whole or in part, on the income or profits derived by the business activities of the Occupant, assignee, manager or other transferee; (iib) Lessee Tenant shall not furnish or render any services to an Occupant, assignee, manager or other transferee with respect to whom Transfer Consideration is required to be paid or manage or operate the Leased Property Premises and/or any Capital Additions so Transferred with respect to which Transfer Consideration is being paid; (iiic) Lessee Tenant shall not consummate a Transfer with any Person in which Lessee Landlord or Lessor its Affiliate owns an interest, directly or indirectly (by applying constructive ownership rules set forth in Section 856(d)(5) of the Code); and (ivd) Lessee Tenant shall not consummate a Transfer with any Person or in any manner which could cause any portion of the amounts received by Lessor Landlord pursuant to this Lease or any Occupancy Arrangement to fail to qualify as “rents from real property” within the meaning of Section 856(d) of the Code, or any similar or successor provision thereto or which that could cause any other income of Lessor Landlord or its Affiliate to fail to qualify as income described in Section 856(c)(2) of the Code.