Common use of Actions to Maintain REOC Status Clause in Contracts

Actions to Maintain REOC Status. If and so long as the Partnership Interests of "benefit plan investors" is "significant" (as such terms, or terms succeeding thereto with the same objective, are used in 29 C.F.R. Section 2510.3-101(f) (such regulation or successor regulation being known as the "Plan Assets Regulation")), then the General Partner shall use its best efforts to conduct the affairs of the Partnership in compliance with the exception for a real estate operating company ("REOC") as provided in the Plan Assets Regulation, and so that the assets of the Partnership will not be "plan assets" (as such term is defined in the Plan Assets Regulations) of any ERISA Partner.

Actions to Maintain REOC Status. If and so long as the Partnership Interests of "benefit plan investors" is "significant" (as such terms, or terms succeeding thereto with the same objective, are used in 29 C.F.R. Section ss. 2510.3-101(f) (such regulation or successor regulation being known as the "Plan Assets Regulation")), then or if necessary so that the underlying assets of the General Partner shall use its best efforts to conduct the affairs of the Partnership in compliance with the exception for a real estate operating company ("REOC") as provided in the Plan Assets Regulation, and so that the assets of the Partnership will not be "plan assets" (as such term is defined in the Plan Assets Regulations) of any ERISA Partner, then the General Partner shall conduct the affairs of the Partnership in such manner so that the Partnership shall qualify as a "real estate operating company" (REOC"), as that term is used in the Plan Assets Regulations, and so that the assets of the Partnership will not be plan assets of any ERISA Partner.