Common use of Restrictions on Distributions Clause in Contracts

Restrictions on Distributions. No subsidiary of the Company is currently prohibited, directly or indirectly, from paying any distributions to the Company or the Operating Partnership or from making any other distribution on such subsidiary’s equity interests, except (A) pursuant to the agreements set forth in Exhibit E and (B) as described in the Registration Statement and the Prospectus and as prohibited by applicable law.

Restrictions on Distributions. No subsidiary Subsidiary of the Company is currently prohibited, directly or indirectly, from paying any distributions to the Company or the Operating Partnership or Company, from making any other distribution on such subsidiarySubsidiary’s equity interests, except (A) pursuant from repaying to the agreements set forth in Exhibit E and (B) Company any loans or advances to such Subsidiary from the Company or from transferring any of such Subsidiary’s property or assets to the Company or any other Subsidiary of the Company, except as described in or contemplated by the Registration Statement Statement, the General Disclosure Package and the Prospectus and as prohibited by applicable lawProspectus.

Restrictions on Distributions. No subsidiary of the Company is currently prohibited, directly or indirectly, from paying any distributions to the Company or the Operating Partnership or from making any other distribution on such subsidiary’s equity interests, except (A) pursuant to the agreements set forth in Exhibit E and (B) as described in or contemplated by the Registration Statement and the Prospectus and as prohibited by applicable law.

Restrictions on Distributions. No subsidiary of the Company is currently prohibited, directly or indirectly, from paying any distributions to the Company or the Operating Partnership or Partnership, from making any other distribution on such subsidiary’s equity interestsinterests or from repaying to the Company any loans or advances to such subsidiary from the Company, except (A) pursuant to the agreements set forth in Exhibit E and (B) as described in or contemplated by the Registration Statement and the Prospectus and as prohibited by applicable lawProspectus.

Restrictions on Distributions. No subsidiary of the Company is currently prohibited, directly or indirectly, from paying any distributions to the Company or the Operating Partnership or Partnership, from making any other distribution on such subsidiary’s equity interestsinterests or from repaying to the Company any loans or advances to such subsidiary from the Company, except (A) pursuant to the agreements set forth in Exhibit E and (B) as described in or contemplated by the Registration Statement Statement, the General Disclosure Package and the Prospectus and as prohibited by applicable lawProspectus.

Restrictions on Distributions. No subsidiary of the Company is currently prohibited, directly or indirectly, from paying any distributions to the Company or the Operating Partnership or Partnership, from making any other distribution on such subsidiary’s equity interests, except (A) pursuant from repaying to the agreements set forth in Exhibit E and (B) Company any loans or advances to such subsidiary from the Company or from transferring any of such subsidiary’s property or assets to the Company or any other subsidiary of the Company, except as described in or contemplated by the Registration Statement Statement, the General Disclosure Package and the Prospectus and as prohibited by applicable lawProspectus.

Restrictions on Distributions. No subsidiary of the Company is currently prohibited, directly or indirectly, from paying any distributions to the Company or the Operating Partnership or from making any other distribution on such subsidiary’s equity interests, except (A) pursuant to the agreements set forth in Exhibit E Schedule D and (B) as described in the Registration Statement Statement, the General Disclosure Package and the Prospectus and as prohibited by applicable law.

Restrictions on Distributions. No subsidiary of the Company is currently prohibited, directly or indirectly, from paying any distributions to the Company or the Operating Partnership or Company, from making any other distribution on such subsidiary’s equity interests, except (A) pursuant from repaying to the agreements set forth in Exhibit E and (B) Company any loans or advances to such subsidiary from the Company or from transferring any of such subsidiary’s property or assets to the Company or any other subsidiary of the Company, except as described in or contemplated by the Registration Statement Statement, the General Disclosure Package and the Prospectus and as prohibited by applicable lawProspectus.

Restrictions on Distributions. No subsidiary of the Company is currently prohibited, directly or indirectly, from paying any distributions to the Company or the Operating Partnership or Partnership, from making any other distribution on such subsidiary’s equity interests, except (A) pursuant from repaying to the agreements set forth in Exhibit E and (B) Company any loans or advances to such subsidiary from the Company or from transferring any of such subsidiary’s property or assets to the Company or any other subsidiary of the Company, except as described in or contemplated by the Registration Statement and the Prospectus and as prohibited by applicable lawProspectus.

Restrictions on Distributions. No subsidiary Subsidiary of the Company is currently prohibited, directly or indirectly, from paying any dividends or distributions to the Company or the Operating Partnership or Company, from making any other distribution on such subsidiarySubsidiary’s capital stock or equity interests, except (A) pursuant from repaying to the agreements set forth in Exhibit E and (B) Company any loans or advances to such Subsidiary from the Company, except as described in the Registration Statement and or contemplated by the Prospectus and or as prohibited by applicable lawwould not have a Material Adverse Effect.

Restrictions on Distributions. No subsidiary of the Company is currently prohibited, directly or indirectly, from paying any distributions to the Company or the Operating Partnership or from making any other distribution on such subsidiary’s equity interests, except (A) pursuant to the agreements set forth in Exhibit E Schedule C and (B) as described in the Registration Statement Statement, the General Disclosure Package and the Prospectus and as prohibited by applicable law.

Restrictions on Distributions. No subsidiary of the Company is currently prohibited, directly or indirectly, from paying any distributions to the Company or the Operating Partnership or Partnership, from making any other distribution on such subsidiary’s equity interests, except (A) pursuant from repaying to the agreements set forth in Exhibit E and (B) Company any loans or advances to such subsidiary from the Company or from transferring any of such subsidiary’s property or assets to the Company or any other subsidiary of the Company, except as described in or contemplated by the Registration Statement and the Prospectus and as prohibited by applicable lawProspectus.

Restrictions on Distributions. No subsidiary of the Company is currently prohibited, directly or indirectly, from paying any distributions to the Company or the Operating Partnership or from making any other distribution on such subsidiary’s equity interests, except (A) pursuant to the agreements set forth in Exhibit E Schedule F and (B) as described in the Registration Statement and or contemplated by the Prospectus and as prohibited by applicable law.

Restrictions on Distributions. No subsidiary of the Company is currently prohibited, directly or indirectly, from paying any dividends or distributions to the Company or the Operating Partnership or Company, from making any other distribution on such subsidiary’s capital stock or equity interests, except (A) pursuant from repaying to the agreements set forth in Exhibit E and (B) Company any loans or advances to such subsidiary from the Company or from transferring any of such subsidiary’s property or assets to the Company or any other subsidiary of the Company, except as described in or contemplated by the Registration Statement and the Prospectus and as prohibited by applicable lawProspectus.

Restrictions on Distributions. No subsidiary of the Company is currently prohibited, directly or indirectly, from paying any distributions to the Company or the Operating Partnership or Partnership, from making any other distribution on such subsidiary’s equity interests, except (A) pursuant from repaying to the agreements set forth in Exhibit E and (B) Company any loans or advances to such subsidiary from the Company or from transferring any of such subsidiary’s property or assets to the Company or any other subsidiary of the Company, except as described in or contemplated by the Registration Statement Preliminary Offering Memorandum, the Pricing Disclosure Package and the Prospectus and as prohibited by applicable lawFinal Offering Memorandum.

Restrictions on Distributions. No subsidiary Subsidiary of the Company is currently prohibited, directly or indirectly, from paying any distributions to the Company or the Operating Partnership or Company, from making any other distribution on such subsidiarySubsidiary’s equity interests, except (A) pursuant from repaying to the agreements set forth in Exhibit E and (B) Company any loans or advances to such Subsidiary from the Company or from transferring any of such Subsidiary’s property or assets to the Company or any other Subsidiary of the Company, except as described in or contemplated by the Registration Statement Statement, the General Disclosure Package and the Prospectus and Prospectus, or as prohibited by applicable law.

Restrictions on Distributions. No subsidiary of the Company is currently prohibited, directly or indirectly, from paying any distributions to the Company or the Operating Partnership or Partnership, from making any other distribution on such subsidiary’s equity interests, except (A) pursuant from repaying to the agreements set forth in Exhibit E and (B) Company any loans or advances to such subsidiary from the Company or from transferring any of such subsidiary’s property or assets to the Company or any other subsidiary of the Company, except as described in or contemplated by the Registration Statement General Disclosure Package and the Prospectus and as prohibited by applicable lawProspectus.

Restrictions on Distributions. No subsidiary of the Company is currently prohibited, directly or indirectly, from paying any distributions to the Company or the Operating Partnership or from making any other distribution on such subsidiary’s equity interests, except (A) pursuant to the agreements set forth in Exhibit E Schedule D and (B) as described in the Registration Statement and or contemplated by the Prospectus and as prohibited by applicable law.

Restrictions on Distributions. No subsidiary of the Company is currently prohibited, directly or indirectly, from paying any distributions to the Company or the Operating Partnership or from making any other distribution on such subsidiary’s equity interests, except (A) pursuant to the agreements set forth in Exhibit E Credit Agreement, dated as of March 1, 2017, by and among the Operating Partnership, as Borrower, KeyBank National Association and the other lenders party thereto, as lenders, and KeyBank National Association, as Agent and (B) as prohibited by applicable law and described in the Registration Statement and the Prospectus and as prohibited by applicable lawProspectus.

Restrictions on Distributions. No subsidiary of the Company is currently prohibited, directly or indirectly, from paying any distributions to the Company or the Operating Partnership or from making any other distribution on such subsidiary’s equity interests, except (A) pursuant to the agreements set forth in Exhibit Schedule E and hereto, (B) as described in or contemplated by the Registration Statement Statement, the General Disclosure Package and the Prospectus and (C) as prohibited by applicable law.

Restrictions on Distributions. No subsidiary Subsidiary of the Company is currently prohibited, directly or indirectly, from paying any distributions to the Company or the Operating Partnership or Company, from making any other distribution on such subsidiarySubsidiary’s equity interests, except (A) pursuant from repaying to the agreements set forth in Exhibit E and (B) Company any loans or advances to such Subsidiary from the Company or from transferring any of such Subsidiary’s property or assets to the Company or any other Subsidiary of the Company, except as described in or contemplated by the Registration Statement Statement, the Time of Sale Prospectus and the Prospectus and Prospectus, or as prohibited by applicable law.

Restrictions on Distributions. No subsidiary of the Company is currently prohibited, directly or indirectly, from paying any distributions to the Company or the Operating Partnership or from making any other distribution on such subsidiary’s equity interests, except (A) pursuant to the agreements set forth in Exhibit E Credit Agreement, dated as of March 1, 2017, by and among the Operating Partnership, as Borrower, KeyBank National Association and the other lenders party thereto, as lenders, and KeyBank National Association, as Agent and (B) as described in the Registration Statement and or contemplated by the Prospectus and as prohibited by applicable law.

Restrictions on Distributions. No subsidiary of the Company is currently prohibited, directly or indirectly, from paying any distributions to the Company or the Operating Partnership or from making any other distribution on such subsidiary’s equity interests, except (A) pursuant to the agreements set forth in Exhibit E and Schedule D hereto, (B) as described in or contemplated by the Registration Statement Statement, the General Disclosure Package and the Prospectus and (C) as prohibited by applicable law.

Restrictions on Distributions. No Except as described in the General Disclosure Package and the Prospectus, no subsidiary of the Company is currently prohibited, directly or indirectly, from paying any distributions to the Company or the Operating Partnership or (to the extent permitted by applicable law), from making any other distribution on such subsidiary’s equity interests, except (A) pursuant from repaying to the agreements set forth in Exhibit E and (B) Company any loans or advances to such subsidiary from the Company or from transferring any of such subsidiary’s property or assets to the Company or any other subsidiary of the Company, except as described in or contemplated by the Registration Statement and the Prospectus and as prohibited by applicable lawProspectus.

Restrictions on Distributions. No subsidiary of the Company is currently prohibited, directly or indirectly, from paying any distributions to the Company or the Operating Partnership or Company, from making any other distribution on such subsidiary’s equity interests, except (A) pursuant from repaying to the agreements set forth in Exhibit E and (B) Company any loans or advances to such subsidiary from the Company or from transferring any of such subsidiary’s property or assets to the Company or any other subsidiary of the Company, except as described in or contemplated by the Registration Statement and the Prospectus and as prohibited by or pursuant to applicable law.

Restrictions on Distributions. No subsidiary of the Company is currently prohibited, directly or indirectly, from paying any distributions to the Company or the Operating Partnership or Partnership, from making any other distribution on such subsidiary’s equity interests, except (A) pursuant from repaying to the agreements set forth in Exhibit E and (B) Company any loans or advances to such subsidiary from the Company or from transferring any of such subsidiary’s property or assets to the Company or any other subsidiary of the Company, except as described in or contemplated by the Registration Statement Statement, General Disclosure Package and the Prospectus and as prohibited by applicable lawProspectus.

Restrictions on Distributions. No subsidiary of the Company Transaction Entities and no Predecessor Entity nor any of its subsidiaries is currently prohibited, directly or indirectly, from paying any distributions to the Company or the Operating Partnership or from making any other distribution on such subsidiary’s equity interests, except (A) pursuant to the agreements set forth in Exhibit E and (B) as described in the Registration Statement and or contemplated by the Prospectus and as prohibited by applicable law.

Restrictions on Distributions. No subsidiary of the Company is currently prohibited, directly or indirectly, from paying any distributions to the Company or the Operating Partnership or from making any other distribution on such subsidiary’s equity interests, except (A) pursuant to the agreements set forth in Exhibit Schedule E and (B) as described in the Registration Statement and or contemplated by the Prospectus and as prohibited by applicable law.

Restrictions on Distributions. No subsidiary of the Company is currently prohibited, directly or indirectly, from paying any distributions to the Company or the Operating Partnership or Company, from making any other distribution on such subsidiary’s equity interests, except (A) pursuant from repaying to the agreements set forth in Exhibit E Company any loans or advances to such subsidiary from the Company or from transferring any of such subsidiary’s property or assets to the Company or any other subsidiary of the Company, except Elitise LLC, a wholly-owned real estate holding company of the Company, and (B) except as described in or contemplated by the Registration Statement Statement, the General Disclosure Package and the Prospectus and as prohibited by applicable lawProspectus.