Common use of Ownership of Company Capital Stock Clause in Contracts

Ownership of Company Capital Stock. (a) Pursuant to the Certificate of Incorporation, based on information provided by the Company to Purchaser and publicly available information, each of Purchaser and Exeter represent and warrant to the Company that Purchaser's Beneficial Ownership or Constructive Ownership (in each case, for the purposes of this Section 5.06, as defined in the Company's Certificate of Incorporation) of shares of Common Stock of the Company, including any Shares acquired pursuant to the Offer, will not now, and Purchaser will not take any affirmative action in the future that will: (i) result in the Company being "closely held" within the meaning of Section 856(h) of the Code; (ii) cause the Company to (A) Constructively Own 10% or more of the ownership interests of a tenant of the Company or any of its subsidiaries (other than a Taxable REIT Subsidiary, if the requirements of Section 856(d)(8) are satisfied) within the meaning of Section 856(d)(2)(B) of the Code or (B) violate the 95% gross income test of Section 856(c)(2) of the Code; (iii) result in the shares of Common Stock being Beneficially Owned by fewer than 100 persons within the meaning Section 856(a)(5) of the Code; (iv) result in the Company being a "pension held REIT" within the meaning of Section 856(h)(3)(D) of the Code; (v) cause the Company to fail to be a "domestically controlled REIT" within the meaning of Section 856(h)(4)(B) of the Code; and (vi) cause the Company to fail to qualify as a REIT. (b) Each of Exeter and Purchaser further represent and warrant to the Company that: (i) as of the date of this Agreement, Purchaser and its affiliates are the Beneficial Owners of, in the aggregate, 100,700 shares of Common Stock; and (ii) no individual (as such term is defined under Section 542(a)(2) of the Code) who Beneficially Owns or will Beneficially Own any of the shares of Common Stock Beneficially Owned by Purchaser (including, without limitation, the Shares acquired pursuant to the Offer) shall Beneficially Own shares of Common Stock in an amount equal to or greater than 18% of the total number of shares of Common Stock.

Ownership of Company Capital Stock. (a) Pursuant to the Certificate of Incorporation, based on information provided by the Company to Purchaser and publicly available information, each of Purchaser and Exeter represent and warrant to the Company that Purchaser's Beneficial Ownership or Constructive Ownership (in each case, for the purposes of this Section 5.06, as defined in the Company's Certificate of Incorporation) of shares of Common Stock of the Company, including any Shares acquired pursuant to the Offer, will not now, and Purchaser will not take any affirmative action in the future that will: (i) result in the Company being "closely held" within the meaning of Section 856(h) of the Code; (ii) cause the Company to (A) Constructively Own 10% or more of the ownership interests of a tenant of the Company or any of its subsidiaries (other than a Taxable REIT Subsidiary, if the requirements of Section 856(d)(8) are satisfied) within the meaning of Section 856(d)(2)(B) of the Code or (B) violate the 95% gross income test of Section 856(c)(2) of the Code; (iii) result in the shares of Common Stock being Beneficially Owned by fewer than 100 persons within the meaning Section 856(a)(5) of the Code; (iv) result in the Company being a "pension held REIT" within the meaning of Section 856(h)(3)(D) of the Code; (v) cause the Company to fail to be a "domestically controlled REIT" within the meaning of Section 856(h)(4)(B) of the Code; and (vi) cause the Company to fail to qualify as a REIT. (b) Each of Exeter and Purchaser further represent and warrant to the Company that: (i) as of the date of this Agreement, Purchaser and its affiliates are the Beneficial Owners of, in the aggregate, 100,700 100,250 shares of Common Stock; and (ii) no individual (as such term is defined under Section 542(a)(2) of the Code) who Beneficially Owns or will Beneficially Own any of the shares of Common Stock Beneficially Owned by Purchaser (including, without limitation, the Shares acquired pursuant to the Offer) shall Beneficially Own shares of Common Stock in an amount equal to or greater than 18% of the total number of shares of Common Stock.

Ownership of Company Capital Stock. (a) Pursuant to the Certificate of Incorporation, based on information provided by the Company to Purchaser and publicly available information, each of Purchaser and Exeter represent and warrant to the Company that Purchaser's Beneficial Ownership or Constructive Ownership (in each case, for the purposes of this Section 5.06, as defined in the Company's Certificate of Incorporation) of shares of Common Stock of the Company, including any Shares acquired pursuant to the Offer, will not now, and Purchaser will not take any affirmative action in the future that will: (i) result in the Company being "closely held" within the meaning of Section 856(h) of the Code; (ii) cause the Company to (A) Constructively Own 10% or more of the ownership interests of a tenant of the Company or any of its subsidiaries (other than a Taxable REIT Subsidiary, if the requirements of Section 856(d)(8) are satisfied) within the meaning of Section 856(d)(2)(B) of the Code or (B) violate the 95% gross income test of Section 856(c)(2) of the Code; (iii) result in the shares of Common Stock being Beneficially Owned by fewer than 100 persons within the meaning Section 856(a)(5) of the Code; (iv) result in the Company being a "pension held REIT" within the meaning of Section 856(h)(3)(D) of the Code; (v) cause the Company to fail to be a "domestically controlled REIT" within the meaning of Section 856(h)(4)(B) of the Code; and (vi) cause the Company to fail to qualify as a REIT. (b) Each of Exeter and Purchaser further represent and warrant to the Company that: (i) as of the date of this Agreement, Purchaser and its affiliates are the Beneficial Owners of, in the aggregate, 100,700 91,200 shares of Common Stock; and (ii) no individual (as such term is defined under Section 542(a)(2) of the Code) who Beneficially Owns or will Beneficially Own any of the shares of Common Stock Beneficially Owned by Purchaser (including, without limitation, the Shares acquired pursuant to the Offer) shall Beneficially Own shares of Common Stock in an amount equal to or greater than 18% of the total number of shares of Common Stock.

Ownership of Company Capital Stock. (a) Pursuant The Purchaser represents and warrants that at no time during the period that the Purchaser owns any Common Shares will any individual own, directly or constructively pursuant to the Certificate application of IncorporationSection 544 of the Code, based as modified by Section 856(h)(1)(B) and Section 856(h)(3)(A) of the Code ("Section 5.6 ownership"), more than 35 percent of the equity interests in the Purchaser, nor will any two individuals own more than 50 percent of the equity interests in the Purchaser. Based on information provided by the Company to Purchaser and publicly available information, each of Purchaser further represents and Exeter represent and warrant warrants to the Company that Purchaser's Beneficial Ownership or Constructive Ownership ownership (in each case, for the purposes of this Section 5.06, as defined in the Company's Certificate of IncorporationBy-laws) of shares of Common Stock of the CompanyShares, including any Common Shares acquired pursuant to the OfferOffer and the Newly Issued Share Purchase, will not now, and Purchaser will not take any affirmative action in the future that willnot: (i) result in the Company being "closely held" within the meaning of Section 856(h) of the Code; (ii) cause the Company to (A) Constructively Own own 10% or more of the ownership interests of a tenant of the Company or any of its subsidiaries (other than a Taxable REIT Subsidiary, if the requirements of Section 856(d)(8) are satisfied) within the meaning of Section 856(d)(2)(B) of the Code or (B) violate the 95% gross income test of Section 856(c)(2) of the Code; (iii) result in the shares of Common Stock Shares being Beneficially Owned owned by fewer than 100 persons within the meaning Section 856(a)(5) of the Code; (iv) result in the Company being a "pension held REIT" within the meaning of Section 856(h)(3)(D) of the Code; (v) cause the Company to fail to be a "domestically controlled REIT" within the meaning of Section 856(h)(4)(B897(h)(4)(B) of the Code; and (vi) cause the Company to fail to qualify as a REIT. (b) Each of Exeter and Purchaser further represent and warrant to the Company that: (i) as of the date of this Agreement, Purchaser and its affiliates are the Beneficial Owners of, in the aggregate, 100,700 shares of Common Stock; and (ii) no individual (as such term is defined under Section 542(a)(2) of the Code) who Beneficially Owns or will Beneficially Own any of the shares of Common Stock Beneficially Owned by Purchaser (including, without limitation, the Shares acquired pursuant to the Offer) shall Beneficially Own shares of Common Stock in an amount equal to or greater than 18% of the total number of shares of Common Stock.