Status as a REIT. The Borrower (i) is a real estate investment trust as defined in Section 856 of the Code (or any successor provision thereto), (ii) has not revoked its election to be a real estate investment trust, (iii) has not engaged in any "prohibited transactions" as defined in Section 856(b)(6)(iii) of the Code (or any successor provision thereto), and (iv) for its current "tax year" (as defined in the Code) is and for all prior tax years subsequent to its election to be a real estate investment trust has been entitled to a dividends paid deduction which meets the requirements of Section 857 of the Code.
Status as a REIT. The REIT (i) is a real estate investment trust as defined in Section 856 of the Internal Revenue Code (or any successor provision thereto), (ii) has not revoked its election to be a real estate investment trust, (iii) has not engaged in any "prohibited transactions" as defined in Section 856(b)(6)(iii) of the Internal Revenue Code (or any successor provision thereto), and (iv) for its current "tax year" (as defined in the Internal Revenue Code) is and for all prior tax years subsequent to its election to be a real estate investment trust has been entitled to a dividends paid deduction which meets the requirements of Section 857 of the Internal Revenue Code.
Status as a REIT. The Borrower shall at all times ---------------- maintain its status as a real estate investment trust under the Code.
Status as a REIT. The General Partner shall at all times maintain its status as a real estate investment trust under the Code and remain sole general partner of the Borrower. Neither the Borrower nor the General Partner will agree to amend or otherwise modify the provisions of Section 3.2 of the limited partnership agreement of the Borrower, as in effect on the date of this Agreement, without the prior written consent of the Required Banks (which consent the Banks hereby agree not to unreasonably withhold or delay).
Status as a REIT. Borrower (i) is a real estate investment trust as defined in Section 856 of the Code, (ii) has not engaged in any "prohibited transactions" as defined in Section 857(b)(6)(B)(iii) of the Code, (iii) for its current "tax year" (as defined in the Code) is, and shall remain, entitled to a dividends paid deduction which meets the requirements of Section 857 of the Code and (iv) its ownership and method of operation enable it to meet the requirements for taxation as a real estate investment trust under the Code.
Status as a REIT. The REIT (i) shall for its first taxable year elect to qualify (but has not so elected as of the Closing Date), and for each subsequent taxable year shall maintain its classification, as a real estate investment trust as defined in Section 856 of the Code, (ii) has not engaged in any "prohibited transactions" as defined in Section 856(b)(6)(iii) of the Code, (iii) for its current "tax year" (as defined in the Code) is, and for all taxable years subsequent to its election to be a real estate investment trust shall remain, entitled to a dividends paid deduction which meets the requirements of Section 857 of the Code and (iv) its ownership and method of operation enable it to meet the requirements for taxation as a real estate investment trust under the Code.
Status as a REIT. Borrower (i) is a real estate investment trust as defined in Section 856 of the Internal Revenue Code (or any successor provision thereto), (ii) has not revoked its election to be a real estate investment trust, (iii) has not engaged in any "prohibited transactions" as defined in Section 856(b)(6)(iii) of the Internal Revenue Code (or any successor provision thereto), and (iv) for its current "tax year" (as defined in the Internal Revenue Code) is and for all prior tax years subsequent to its election to be a real estate investment trust has been entitled to a dividends paid deduction which meets the requirements of Section 857 of the Internal Revenue Code.
Status as a REIT. The Borrower is organized in conformity with the requirements for qualification as a real estate investment trust under the Code. The Borrower will meet all of the requirements for qualification as a real estate investment trust under the Code for its taxable year ending December 31, 2002 and will elect to be treated as such for such taxable year. The Borrower is or will be in a position to qualify as a real estate investment trust under the Code for each taxable year thereafter and its proposed methods of operation will enable it to so qualify.
Status as a REIT. The Borrower is qualified as a real estate investment trust under the Code and is in compliance with all Applicable Laws applicable to it as a real estate investment trust, except where such noncompliance is or would be immaterial and, if required, has been authorized by appropriate Governmental Action.
Status as a REIT. The REIT is organized in conformity with the requirements for qualification as an equity-oriented real estate investment trust under the Code and is grandfathered from the application of Section 269 (B) of the Code pursuant to Section 132(c)(3) of the Deficit Reduction Act of 1984. The REIT has met all of the requirements for qualification as an equity-oriented real estate investment trust under the Code for its Fiscal Year ended December 31, 1996. The REIT is in a position to qualify for its current Fiscal Year as a real estate investment trust under the Code and its proposed methods of operation will enable it to so qualify.
