Common use of Tax Status; REIT Status Clause in Contracts

Tax Status; REIT Status. (a) The Company and its Subsidiaries have made or filed all federal and state income and, all other material tax returns, reports and declarations required to be made or filed by them in any jurisdiction to which they are subject; and have paid all taxes and other governmental assessments and charges shown or determined to be due on such returns, reports and declarations, except those being contested in good faith; and have set aside on their books provisions reasonably adequate for the payment of all taxes for periods subsequent to the periods to which such returns, reports or declarations apply. There are no unpaid taxes in any material amount claimed to be due by the taxing authority of any jurisdiction, and the officers of the Company know of no basis for any such claim. (b) The Company and its Subsidiaries have operated their business at all times so as to satisfy all requirements necessary to qualify and maintain the Company’s status as a real estate investment trust under Section 856 through 860 of the Code. The Company and its Subsidiaries have maintained adequate records so as to comply with all the record-keeping requirements relating to the Company’s qualification as a real estate investment trust as required by the Code and applicable regulations of the Department of the Treasury promulgated thereunder and have properly prepared and timely filed (taking into account any valid extensions) with the U.S. Internal Revenue Service all returns and reports required thereby.