Common use of Right of the REIT Clause in Contracts

Right of the REIT. The REIT shall have the right to abandon the transactions contemplated by this Agreement or terminate this Agreement at any time or any reason or no reason at the discretion of the REIT, in its sole and absolute discretion, or if any of the following conditions shall not be true or shall not have occurred, as the case may be, as of the specified date or dates: (a) All actions, proceedings, instruments, and documents required by the REIT to carry out this Agreement or incidental thereto and all other related legal matters shall be subject to the reasonable approval of counsel to the REIT, shall have furnished such counsel such documents as such counsel may have reasonably requested for the purpose of enabling them to pass upon such matters. (b) At the Effective Date, there shall not be pending any legal proceeding relating to, or seeking to prohibit or otherwise challenge the consummation of, the transactions contemplated by this Agreement, or to obtain substantial damages with respect thereto. (c) There shall not have been any action taken, or any law, rule, regulation, order, judgment, or decree proposed, promulgated, enacted, entered, enforced, or deemed applicable to the transactions contemplated by this Agreement by any federal, state, local, or other governmental authority or by any court or other tribunal, including the entry of a preliminary or permanent injunction, which, in the reasonable judgment of the REIT, (i) makes this Agreement, or any of the transactions contemplated by this Agreement illegal, (ii) results in a delay in the ability of any Cibolo Entity to consummate the transactions contemplated by this Agreement, (iii) imposes material limitations on the ability of the REIT effectively to exercise full rights of ownership of the equity interests in each of the Cibolo Entities and the Contributed Properties, or (v) otherwise prohibits, restricts, or delays consummation of the transactions contemplated by this Agreement or impairs the contemplated benefits to the REIT of this Agreement, or any of the transactions contemplated by this Agreement. (d) The parties to this Agreement shall have made all required filings with governmental authorities and shall have obtained at or prior to the Effective Date all required written approvals to this Agreement and to the execution, delivery, and performance of this Agreement by each of them of relevant governmental authorities having jurisdiction over any of the Cibolo Entities, any of the Contributed Properties or the subject matter of this Agreement. (e) The parties to this Agreement shall have obtained at or prior to the Effective Date all consents required for the consummation of the transactions contemplated by this Agreement from any unrelated third party to any contract, agreement, instrument, lease, license, arrangement, or understanding to which any of them is a party, or to which any of them or any of their respective businesses, properties, or assets are subject. (f) Each of the transactions described in Article I shall have been consummated on or prior to the Closing Date to the satisfaction of the REIT. (g) The REIT shall conduct a due diligence review of the Contributed Properties, and the Cibolo Entities, and shall be reasonably satisfied with the result of such review. (h) The REIT shall be satisfied that the information provided in prospectus included in the Registration Statement satisfies the requirements of Section 10 of the Securities Act.

Right of the REIT. The REIT shall have the right to abandon the transactions contemplated by this Agreement or terminate this Agreement at any time or any reason or no reason at the discretion of the REIT, in its sole and absolute discretion, or if any of the following conditions shall not be true or shall not have occurred, as the case may be, as of the specified date or dates: (a) All actions, proceedings, instruments, and documents required by the REIT to carry out this Agreement or incidental thereto and all other related legal matters shall be subject to the reasonable approval of counsel to the REIT, shall have furnished such counsel such documents as such counsel may have reasonably requested for the purpose of enabling them to pass upon such matters. (b) At the Effective Date, there shall not be pending any legal proceeding relating to, or seeking to prohibit or otherwise challenge the consummation of, the transactions contemplated by this Agreement, or to obtain substantial damages with respect thereto. (c) There shall not have been any action taken, or any law, rule, regulation, order, judgment, or decree proposed, promulgated, enacted, entered, enforced, or deemed applicable to the transactions contemplated by this Agreement by any federal, state, local, or other governmental authority or by any court or other tribunal, including the entry of a preliminary or permanent injunction, which, in the reasonable judgment of the REIT, (i) makes this Agreement, or any of the transactions contemplated by this Agreement illegal, (ii) results in a delay in the ability of any Cibolo GRAE-TEX Entity to consummate the transactions contemplated by this Agreement, (iii) imposes material limitations on the ability of the REIT effectively to exercise full rights of ownership of the equity interests in each of the Cibolo GRAE-TEX Entities and the Contributed Properties, or (v) otherwise prohibits, restricts, or delays consummation of the transactions contemplated by this Agreement or impairs the contemplated benefits to the REIT of this Agreement, or any of the transactions contemplated by this Agreement. (d) The parties to this Agreement shall have made all required filings with governmental authorities and shall have obtained at or prior to the Effective Date all required written approvals to this Agreement and to the execution, delivery, and performance of this Agreement by each of them of relevant governmental authorities having jurisdiction over any of the Cibolo GRAE-TEX Entities, any of the Contributed Properties or the subject matter of this Agreement. (e) The parties to this Agreement shall have obtained at or prior to the Effective Date all consents required for the consummation of the transactions contemplated by this Agreement from any unrelated third party to any contract, agreement, instrument, lease, license, arrangement, or understanding to which any of them is a party, or to which any of them or any of their respective businesses, properties, or assets are subject. (f) Each of the transactions described in Article I shall have been consummated on or prior to the Closing Date to the satisfaction of the REIT. (g) The REIT shall conduct a due diligence review of the Contributed Properties, and the Cibolo GRAE-TEX Entities, and shall be reasonably satisfied with the result of such review. (h) The REIT shall be satisfied that the information provided in prospectus included in the Registration Statement satisfies the requirements of Section 10 of the Securities Act.

Right of the REIT. The REIT shall have the right to abandon the transactions contemplated by this Agreement or terminate this Agreement at any time or any reason or no reason at the discretion of the REIT, in its sole and absolute discretion, or if any of the following conditions shall not be true or shall not have occurred, as the case may be, as of the specified date or dates: (a) All actions, proceedings, instruments, and documents required by the REIT to carry out this Agreement or incidental thereto and all other related legal matters shall be subject to the reasonable approval of counsel to the REIT, shall have furnished such counsel such documents as such counsel may have reasonably requested for the purpose of enabling them to pass upon such matters. (b) At the Effective Date, there shall not be pending any legal proceeding relating to, or seeking to prohibit or otherwise challenge the consummation of, the transactions contemplated by this Agreement, or to obtain substantial damages with respect thereto. (c) There shall not have been any action taken, or any law, rule, regulation, order, judgment, or decree proposed, promulgated, enacted, entered, enforced, or deemed applicable to the transactions contemplated by this Agreement by any federal, state, local, or other governmental authority or by any court or other tribunal, including the entry of a preliminary or permanent injunction, which, in the reasonable judgment of the REIT, (i) makes this Agreement, or any of the transactions contemplated by this Agreement illegal, (ii) results in a delay in the ability of any Cibolo Entity Seller to consummate the transactions contemplated by this Agreement, (iii) imposes material limitations on the ability of the REIT effectively to exercise full rights of ownership of the equity interests in each of the Cibolo Entities Seller and the Contributed Properties, or (v) otherwise prohibits, restricts, or delays consummation of the transactions contemplated by this Agreement or impairs the contemplated benefits to the REIT of this Agreement, or any of the transactions contemplated by this Agreement. (d) The parties to this Agreement shall have made all required filings with governmental authorities and shall have obtained at or prior to the Effective Date all required written approvals to this Agreement and to the execution, delivery, and performance of this Agreement by each of them of relevant governmental authorities having jurisdiction over any of the Cibolo EntitiesSeller, any of the Contributed Properties or the subject matter of this Agreement. (e) The parties to this Agreement shall have obtained at or prior to the Effective Date all consents required for the consummation of the transactions contemplated by this Agreement from any unrelated third party to any contract, agreement, instrument, lease, license, arrangement, or understanding to which any of them is a party, or to which any of them or any of their respective businesses, properties, or assets are subject. (f) Each of the transactions described in Article I shall have been consummated on or prior to the Closing Date to the satisfaction of the REIT. (g) The REIT shall conduct a due diligence review of the Contributed Properties, and the Cibolo EntitiesSeller, and shall be reasonably satisfied with the result of such review. (h) The REIT shall be satisfied that the information provided in prospectus included in the Registration Statement satisfies the requirements of Section 10 of the Securities Act.