TRANSFER LIMITATION. For so long as Landlord or any Affiliate of Landlord, shall seek to qualify as a real estate investment trust, anything contained in this Lease to the contrary notwithstanding, Tenant shall not sublease or otherwise Transfer the Cypress Premises or Improvements on any basis such that Landlord determines that the rental to be paid by any Transferee thereunder would be based, in whole or in part, on either (a) the net income or profits derived by the business activities of such Transferee, or (b) any other formula such that any portion of such sublease rental would fail to qualify as “rents from real property” within the meaning of Section 856(d) of the Code or any similar or successor provision thereto.
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Samples: Sub Permit and Lease Agreement, Sub Permit and Lease Agreement (CNL Lifestyle Properties Inc), Sub Permit and Lease Agreement (CNL Income Properties Inc)
TRANSFER LIMITATION. For so long as Landlord or any Affiliate of Landlord, shall seek to qualify as a real estate investment trust, anything contained in this Lease to the contrary notwithstanding, Tenant shall not sublease or otherwise Transfer the Cypress Premises or Improvements on any basis such that Landlord determines that the rental to be paid by any Transferee thereunder would be based, in whole or in part, on either (a) the net income or profits derived by the business activities of such Transferee, or (b) any other formula such that any portion of such sublease rental would fail to qualify as “rents from real property” within the meaning of Section 856(d) of the Code or any similar or successor provision thereto.
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