Common use of TAX STATUS OF BENEFICIAL OWNERS Clause in Contracts

TAX STATUS OF BENEFICIAL OWNERS. Tenant recognizes and acknowledges that Landlord and/or certain beneficial owners of Landlord may from time to time qualify as real estate investment trusts pursuant to Section 856 et seq. of the Code or as entities described in Section 511(a)(2) of the Code, and that avoiding (i) the loss of such status, (ii) the receipt of any income derived under any provision of this Lease that does not constitute “rents from real property” (in the case of real estate investment trusts) or that constitutes “unrelated business taxable income” (in the case of entities described in Section 511(a)(2) of the Code), and (iii) the imposition of penalty or similar taxes (each, an “Adverse Event”) is of material concern to Landlord and such beneficial owners. In the event that this Lease or any document contemplated hereby could, in the opinion of counsel to Landlord, result in or cause an Adverse Event, Tenant agrees to cooperate with Landlord in negotiating an amendment or modification thereof and shall at the request of Landlord execute and deliver such documents reasonably required to effect such amendment or modification. Any amendment or modification pursuant to this Article 34 shall be structured so that the economic results to Landlord and Tenant shall be similar, other than to a de minimis extent, to those set forth in this Lease without regard to such amendment or modification. Without limiting any of Landlord’s other rights under this Article 34, Landlord may waive the receipt of any amount payable to Landlord under this Lease, and such waiver shall constitute an amendment or modification of this Lease with respect to such payment.

TAX STATUS OF BENEFICIAL OWNERS. Tenant recognizes and acknowledges that Landlord and/or certain beneficial owners of Landlord may from time to time qualify as real estate investment trusts pursuant to Section Sections 856 et seq. of the Code or as entities described in Section 511(a)(2) of the Code, and that avoiding (ia) the loss of such status, (iib) the receipt of any income derived under any provision of this Lease that does not constitute “"rents from real property” " (in the case of real estate investment trusts) or that constitutes “"unrelated business taxable income” " (in the case of entities described in Section 511(a)(2) of the Code), and (iiic) the imposition of penalty or similar taxes (each, each an “"Adverse Event”") is of material concern to Landlord and such beneficial owners. In the event that this Lease or any document contemplated hereby could, in the opinion of counsel to Landlord, result in or cause an Adverse Event, Tenant agrees to cooperate with Landlord in negotiating an amendment or modification thereof and shall at the request of Landlord execute and deliver such documents reasonably required to effect such amendment or modification. Any amendment or modification pursuant to this Article 34 32 shall be structured so that the economic results to Landlord and Tenant shall be similar, other than to a de minimis extent, substantially similar to those set forth in this Lease without regard to such amendment or modification. Without limiting any of Landlord’s 's other rights under this Article 3432, Landlord may waive the receipt of any amount payable to Landlord under this Lease, hereunder and such waiver shall constitute an amendment or modification of this Lease with respect to such payment.

TAX STATUS OF BENEFICIAL OWNERS. Tenant recognizes and acknowledges that Landlord and/or certain beneficial owners of Landlord may from time to time qualify as real estate investment trusts pursuant to Section 856 et seq. of the Code or as entities described in Section 511(a)(2) of the Code, and that avoiding (i) the loss of such status, (ii) the receipt of any income derived under any provision of this Lease that does not constitute “rents from real property” (in the case of real estate investment trusts) or that constitutes “unrelated business taxable income” (in the case of entities described in Section 511(a)(2) of the Code), and (iii) the imposition of penalty or similar taxes (each, an “Adverse Event”) is of material concern to Landlord and such beneficial owners. In the event that this Lease or any document contemplated hereby could, in the opinion of counsel to Landlord, result in or cause an Adverse Event, Tenant agrees to cooperate with Landlord in negotiating an amendment or modification thereof and shall at the request of Landlord execute and deliver such documents reasonably required to effect such amendment or modification. Any amendment or modification pursuant to this Article 34 shall be structured so that the economic results to Landlord and Tenant shall be similar, other than to a de minimis extent, to those set forth in this Lease without regard to such amendment or modification. Without limiting any of Landlord’s other rights under this Article 34, Landlord may waive the 102 receipt of any amount payable to Landlord under this Lease, and such waiver shall constitute an amendment or modification of this Lease with respect to such payment.

TAX STATUS OF BENEFICIAL OWNERS. Tenant recognizes and acknowledges that Landlord and/or certain beneficial owners of Landlord may from time to time qualify as real estate investment trusts pursuant to Section Sections 856 et seq. of the Code or as entities described in Section 511(a)(251.1(a)(2) of the Code, and that avoiding (ia) the loss of such status, (iib) the receipt of any income derived under any provision of this Lease that does not constitute “"rents from real property” " (in the case of real estate investment trusts) or that constitutes “"unrelated business taxable income” " (in the case of entities described in Section 511(a)(2511 (a)(2) of the Code), and (iiic) the imposition of penalty or similar taxes (each, each an “"Adverse Event”") is of material concern to Landlord and such beneficial owners. In the event that this Lease or any document contemplated hereby could, in the opinion of counsel to Landlord, result in or cause an Adverse Event, Tenant agrees to cooperate with Landlord in negotiating an amendment or modification thereof and shall at the request of Landlord execute and deliver such documents reasonably required to effect such amendment or modification. Any amendment or modification pursuant to this Article 34 shall be structured so that the economic results to Landlord and Tenant shall be similar, other than to a de minimis extent, substantially similar to those set forth in this Lease without regard to such amendment or modification. Without limiting any of Landlord’s 's other rights under this Article 34, Landlord may waive the receipt of any amount payable to Landlord under this Lease, hereunder and such waiver shall constitute an amendment or modification of this Lease with respect to such payment. Tenant expressly covenants and agrees not to enter into any sublease or assignment which provides for rental or other payment for such use, occupancy, or utilization based in whole or in part on the net income or profits derived by any person from the property leased, used, occupied, or utilized (other than an amount based on a fixed percentage or percentages of receipts or sales), and that any such purported sublease or assignment shall be absolutely void and ineffective as a conveyance of any right or interest in the possession, use, occupancy, or utilization of any part of the Premises.

TAX STATUS OF BENEFICIAL OWNERS. Tenant recognizes and acknowledges that Landlord and/or certain beneficial owners of Landlord may from time to time qualify as real estate investment trusts pursuant to Section Sections 856 et seq. of the Code or as entities described in Section 511(a)(2) of the Code, and that avoiding (ia) the loss of such status, (iib) the receipt of any income derived under any provision of this Lease that does not constitute “"rents from real property” " (in the case of real estate investment trusts) or that constitutes “"unrelated business taxable income” " (in the case of entities described in Section 511(a)(2) of the Code), and (iiic) the imposition of penalty or similar taxes (each, each an “"Adverse Event”") is of material concern to Landlord and such beneficial ownersowners and Tenant's agreement herein contained regarding the avoidance of an Adverse Event as a material inducement to Landlord entering into this Lease. In the event that this Lease or any document contemplated hereby could, in the opinion of counsel to Landlord, result in or cause an Adverse Event, Tenant agrees to cooperate with Landlord in negotiating an amendment amending or modification thereof modifying this Lease or such documents and shall at the request of Landlord execute and deliver such documents reasonably required to effect such amendment or modification. Any amendment or modification pursuant to this Article 34 shall be structured so that the economic results to Landlord and Tenant shall be similar, other than to a de minimis extent, substantially similar to those set forth in this Lease without regard to such amendment or modification. Without limiting any of Landlord’s 's other rights under this Article 34, Landlord may waive the receipt of any amount payable to Landlord under this Lease, hereunder and such waiver shall constitute an amendment or modification of this Lease with respect to such payment.

TAX STATUS OF BENEFICIAL OWNERS. Tenant recognizes and acknowledges that Landlord and/or certain beneficial owners of Landlord may from time to time qualify as real estate investment trusts pursuant to Section Sections 856 et seq. of the Code or as entities described in Section 511(a)(2) of the Code, and that avoiding (i) the loss of such status, (ii) the receipt of any income derived under any provision of this Lease that does not constitute “"rents from real property” " (in the case of real estate investment trusts) or that constitutes “"unrelated business taxable income” " (in the case of entities described in Section 511(a)(2) of the Code), and (iii) the imposition of penalty or similar taxes (each, each an “"Adverse Event”") is of material concern to Landlord and and/or such beneficial owners. In the event that this Lease or any document contemplated hereby could, in the opinion of counsel to Landlord, result in or cause an Adverse Event, Tenant agrees to cooperate with Landlord in negotiating an amendment or modification thereof and shall at the request of Landlord execute and deliver such documents reasonably required to effect such amendment or modification. Any amendment or modification pursuant to this Article 34 35 shall be structured so that the economic results to Landlord and Tenant shall be similar, other than to a de minimis extent, substantially similar to those set forth in this Lease without regard to such amendment or modification. Without limiting any modification and shall not increase Tenant's obligations hereunder, monetary or otherwise, except to a de minimis extent, or adversely affect the rights of Landlord’s other rights Tenant under this Article 34, Lease or Tenant's leasehold estate created hereby. Landlord may shall have the right to waive the receipt of any amount payable to Landlord under this Lease, hereunder and such waiver shall constitute an amendment or modification of this Lease with respect to such payment.

TAX STATUS OF BENEFICIAL OWNERS. Tenant recognizes and acknowledges that Landlord and/or certain beneficial owners of Landlord may from time to time qualify as real estate investment trusts pursuant to Section Sections 856 et seq. of the Code or as entities described in Section 511(a)(2) of the Code, and that avoiding (i) the loss of such status, (ii) the receipt of any income derived under any provision of this Lease that does not constitute “"rents from real property” " (in the case of real estate investment trusts) or that constitutes “"unrelated business taxable income” " (in the case of entities described in Section 511(a)(2) of the Code), and (iii) the imposition of penalty or similar taxes (each, an “"Adverse Event”") is of material concern to Landlord and such beneficial ownersowners and Tenant's agreement herein contained regarding the avoidance of an Adverse Event is a material inducement to Landlord entering into this Lease. In the event that this Lease or any document contemplated hereby could, in the opinion of counsel to Landlord, result in or cause an Adverse Event, Tenant agrees to cooperate with Landlord in negotiating an amendment amending or modification thereof modifying this Lease or such documents and shall at the request of Landlord execute and deliver such documents reasonably required to effect such amendment or modification. Any amendment or modification pursuant to this Article 34 33 shall be structured so that the economic results to Landlord and Tenant shall be similar, other than to a de minimis extent, substantially similar to those set forth in this Lease without regard to such amendment or modification. Without limiting any of Landlord’s 's other rights under this Article 3433, Landlord may waive the receipt of any amount payable to Landlord under this Lease, and such waiver shall constitute an amendment or modification of this Lease with respect to such payment.

TAX STATUS OF BENEFICIAL OWNERS. Tenant recognizes and acknowledges that Landlord and/or certain beneficial owners of Landlord may from time to time qualify as real estate investment trusts pursuant to Section 856 et seq. of the Code or as entities described in Section 511(a)(2) of the Code, and that avoiding (i) the loss of such status, (ii) the receipt of any income derived under any provision of this Lease that does not constitute “rents from real property” (in the case of real estate investment trusts) or that constitutes “unrelated business taxable income” (in the case of entities described in Section 511(a)(2) of the Code), and (iii) the imposition of penalty or similar taxes (each, an “Adverse Event”) is of material concern to Landlord and such beneficial owners. In the event that this Lease or any document contemplated hereby could, in the opinion of counsel to Landlord, result in or cause an Adverse Event, Tenant Xxxxxx agrees to cooperate with Landlord in negotiating an amendment or modification thereof and shall at the request of Landlord execute and deliver such documents reasonably required to effect such amendment or modification. Any amendment or modification pursuant to this Article 34 shall be structured so that the economic results to Landlord and Tenant shall be similar, other than to a de minimis extent, to those set forth in this Lease without regard to such amendment or modification. Without limiting any of Landlord’s other rights under this Article 34, Landlord may waive the receipt of any amount payable to Landlord under this Lease, and such waiver shall constitute an amendment or modification of this Lease with respect to such payment.

TAX STATUS OF BENEFICIAL OWNERS. Tenant recognizes and acknowledges that Landlord and/or certain beneficial owners of Landlord may from time to time qualify as real estate investment trusts pursuant to Section Sections 856 et seq. of the Code or as entities described in Section 511(a)(2) of the Code, and that avoiding (ia) the loss of such status, (iib) the receipt of any income derived under any provision of this Lease that does not constitute “"rents from real property” " (in the case of real estate investment trusts) or that constitutes “"unrelated business taxable income” " (in the case of entities described in Section 511(a)(2) of the Code), and (iiic) the imposition of penalty or similar taxes (each, each an “"Adverse Event”") is of material concern to Landlord and such beneficial ownersowners and Tenant's agreement herein contained regarding the avoidance of an Adverse Event as a material inducement to Landlord entering into this Lease. In the event that this Lease or any document contemplated hereby could, in the opinion of counsel to Landlord, result in or cause an Adverse Event, Tenant agrees to reasonably cooperate with Landlord in negotiating an amendment amending or modification thereof modifying this Lease or such documents and shall at the request of Landlord Landlord, and at Landlord's reasonable expense, execute and deliver such documents reasonably required to effect such amendment or modification. Any amendment or modification pursuant to this Article 34 shall be structured so that the economic results to Landlord and Tenant shall be similar, other than to a de minimis extent, substantially similar to those set forth in this Lease without regard to such amendment or modificationmodification and shall not increase Tenant's monetary obligations hereunder at all or, other than to a de minimis extent, increase Tenant's other obligations hereunder or adversely affect the rights of Tenant hereunder. Without limiting any of Landlord’s 's other rights under this Article 34, Landlord may waive the receipt of any amount payable to Landlord under this Lease, hereunder and such waiver shall constitute an amendment or modification of this Lease with respect to such payment.

TAX STATUS OF BENEFICIAL OWNERS. Tenant recognizes and acknowledges that Landlord and/or certain beneficial owners of Landlord may from time to time qualify as real estate investment trusts pursuant to Section Sections 856 et seq. of the Code or as entities described in Section 511(a)(2) of the Code, and that avoiding (ia) the loss of such status, (iib) the receipt of any income derived under any provision of this Lease that does not constitute “rents from real property” (in the case of real estate investment trusts) or that constitutes “unrelated business taxable income” (in the case of entities described in Section 511(a)(2) of the Code), and (iiic) the imposition of penalty or similar taxes (each, each an “Adverse Event”) is of material concern to Landlord and such beneficial ownersowners and Tenant’s agreement herein contained regarding the avoidance of an Adverse Event as a material inducement to Landlord entering into this Lease. In the event that this Lease or any document contemplated hereby could, in the opinion of counsel to Landlord, result in or cause an Adverse Event, Tenant agrees to cooperate with Landlord in negotiating an amendment amending or modification thereof modifying this Lease or such documents and shall at the request of Landlord execute and deliver such documents reasonably required to effect such amendment or modification. Any amendment or modification pursuant to this Article 34 shall be structured so that the economic results to Landlord and Tenant shall be similar, other than to a de minimis extent, substantially similar to those set forth in this Lease without regard to such amendment or modification. Without limiting any of Landlord’s other rights under this Article 34, Landlord may waive the receipt of any amount payable to Landlord under this Lease, hereunder and such waiver shall constitute an amendment or modification of this Lease with respect to such payment.

TAX STATUS OF BENEFICIAL OWNERS. Tenant recognizes and acknowledges that Landlord and/or certain beneficial owners of Landlord may from time to time qualify as real estate investment trusts pursuant to Section Sections 856 et seq. of the Code or as entities described in Section 511(a)(2) of the Code, and that avoiding (i) the loss of such status, (ii) the receipt of any income derived under any provision of this Lease that does not constitute “rents from real property” (in the case of real estate investment trusts) or that constitutes “unrelated business taxable income” (in the case of entities described in Section 511(a)(2) of the Code), and (iii) the imposition of penalty or similar taxes (each, an “Adverse Event”) is of material concern to Landlord and such beneficial ownersowners and Tenant’s agreement herein contained regarding the avoidance of an Adverse Event is a material inducement to Landlord entering into this Lease. In the event that this Lease or any document contemplated hereby could, in the opinion of counsel to Landlord, result in or cause an Adverse Event, Tenant agrees to cooperate with Landlord (at the reasonable expense of Landlord) in negotiating an amendment amending or modification thereof modifying this Lease or such documents and shall at the request of Landlord execute and deliver such documents reasonably required to effect such amendment or modification. Any amendment or modification pursuant to this Article 34 33 shall be structured so that the economic results to Landlord and Tenant shall be similar, other than to a de minimis extent, substantially similar to those set forth in this Lease without regard to such amendment or modification. Without limiting any of Landlord’s other rights under this Article 3433, Landlord may waive the receipt of any amount payable to Landlord under this Lease, and such waiver shall constitute an amendment or modification of this Lease with respect to such payment.

TAX STATUS OF BENEFICIAL OWNERS. Tenant recognizes and acknowledges that Landlord and/or certain beneficial owners of Landlord may from time to time qualify as real estate investment trusts pursuant to Section Sections 856 et seq. of the Code or as entities described in Section 511(a)(2) of the Code, and that avoiding (i) the loss of such status, (ii) the receipt of any income derived under any provision of this Lease that does not constitute “"rents from real property” " (in the case of real estate investment trusts) or that constitutes “"unrelated business taxable income” " (in the case of entities described in Section 511(a)(2511 (a)(2) of the Code), and (iii) the imposition of penalty or similar taxes (each, each an “"Adverse Event”") is of material concern to Landlord and and/or such beneficial owners. In the event that this Lease or any document contemplated hereby could, in the opinion of counsel to Landlord, result in or cause an Adverse Event, Tenant agrees to cooperate with Landlord in negotiating an amendment or modification thereof and shall at the request of Landlord execute and deliver such documents reasonably required to effect such amendment or modification. Any amendment or modification pursuant to this Article 34 35 shall be structured so that the economic results to Landlord and Tenant shall be similar, other than to a de minimis extent, substantially similar to those set forth in this Lease without regard to such amendment or modification. Without limiting any of Landlord’s other rights under this Article 34, Landlord may shall have the right to waive the receipt of any amount payable to Landlord under this Lease, hereunder and such waiver shall constitute an amendment or modification of this Lease with respect to such payment.