Common use of REIT Qualification Clause in Contracts

REIT Qualification. A. Manager shall take all commercially reasonable actions reasonably requested by Owner or Landlord for the purpose of qualifying Landlord’s rental income from Owner under the Lease as “rents from real property” pursuant to Sections 856(d)(2), 856(d)(8)(B) and 856(d)(9) of the Code. Manager shall not be liable if such reasonably requested actions, once implemented, fail to have the desired result of qualifying Landlord’s rental income from Owner under the Lease as “rents from real property” pursuant to Sections 856(d)(2), 856(d)(8)(B) and 856(d)(9) of the Code. This Section 11.26 shall not apply in situations where an Adverse Regulatory Event has occurred; instead, Section 11.27 shall apply.

REIT Qualification. A. (a) Manager shall take all commercially reasonable actions reasonably requested by Owner or Landlord Purchaser for the purpose of qualifying LandlordPurchaser’s rental income from Owner under the Lease as “rents from real property” pursuant to Sections 856(d)(2), 856(d)(8)(B) and 856(d)(9) of the Code. Manager shall not be liable if such reasonably requested actions, once implemented, fail to have the desired result of qualifying LandlordPurchaser’s rental income from Owner under the Lease as “rents from real property” pursuant to Sections 856(d)(2), 856(d)(8)(B) and 856(d)(9) of the Code. This Section 11.26 24.14 shall not apply in situations where an Adverse Regulatory Event has occurred; instead, Section 11.27 24.16 shall applyapply in such an instance.

REIT Qualification. A. (a) Manager shall take all commercially reasonable actions reasonably requested by Owner or Landlord for the purpose of qualifying LandlordOwner’s rental income from Owner under the Lease Tenants as “rents from real property” pursuant to Sections 856(d)(2856(d)(1), 856(d)(8)(B856(d)(2)(C) and 856(d)(9856(d)(7)(C)(i) of the Code. Manager shall not be liable if such reasonably requested actions, once implemented, fail to have the desired result of qualifying LandlordOwner’s rental income from Owner under the Lease Tenants as “rents from real property” pursuant to Sections 856(d)(2856(d)(1), 856(d)(8)(B856(d)(2)(C) and 856(d)(9856(d)(7)(C)(i) of the Code. This Section 11.26 8.02 shall not apply in situations where an Adverse Regulatory Event has occurred; instead, Section 11.27 8.04 shall apply.

REIT Qualification. A. (a) Manager shall take all commercially reasonable actions reasonably requested by Company or Owner or Landlord for the purpose of qualifying LandlordOwner’s rental income from Owner Company under the Lease lease between Owner and Company for the Community (“Lease”) as “rents from real property” pursuant to Sections 856(d)(1), 856(d)(2), 856(d)(8)(B) and 856(d)(9) of the Code. Manager shall not be liable if such reasonably requested actions, once implemented, fail to have the desired result of qualifying LandlordOwner’s rental income from Owner Company under the Lease as “rents from real property” pursuant to Sections 856(d)(1), 856(d)(2), 856(d)(8)(B) and 856(d)(9) of the Code. This Section 11.26 8.02 shall not apply in situations where an Adverse Regulatory Event has occurred; instead, Section 11.27 8.04 shall apply.

REIT Qualification. A. (a) The Manager shall take all commercially reasonable actions reasonably requested by any Company or Owner or Landlord for the purpose of qualifying Landlordan Owner’s rental income from Owner a Company under the Lease lease between that Owner and that Company for the applicable Community (each, a “Lease”) as “rents from real property” pursuant to Sections 856(d)(1), 856(d)(2), 856(d)(8)(B) and 856(d)(9) of the Code. The Manager shall not be liable if such reasonably requested actions, once implemented, fail to have the desired result of qualifying Landlordan Owner’s rental income from Owner a Company under the a Lease as “rents from real property” pursuant to Sections 856(d)(1), 856(d)(2), 856(d)(8)(B) and 856(d)(9) of the Code. This Section 11.26 8.02 shall not apply in situations where an Adverse Regulatory Event has occurred; instead, Section 11.27 8.04 shall apply.

REIT Qualification. A. (a) Manager shall take all commercially reasonable actions reasonably requested by Owner or Landlord for the purpose of qualifying Landlord’s rental income from Owner under the Lease as “rents from real property” pursuant to Sections 856(d)(2), 856(d)(8)(B) and 856(d)(9) of the Code. Manager shall not be liable if such reasonably requested actions, once implemented, fail to have the desired result of qualifying Landlord’s rental income from Owner under the Lease as “rents from real property” pursuant to Sections 856(d)(2), 856(d)(8)(B) and 856(d)(9) of the Code. This Section 11.26 24.13 shall not apply in situations where an Adverse Regulatory Event has occurred; instead, Section 11.27 24.15 shall applyapply in such an instance.

REIT Qualification. A. (a) Manager shall take all commercially reasonable actions reasonably requested by Owner or Landlord Purchaser for the purpose of qualifying Landlord’s Purchaser's rental income from Owner under the Lease as “"rents from real property” " pursuant to Sections 856(d)(2), 856(d)(8)(B) and 856(d)(9) of the Code. Manager shall not be liable if such reasonably requested actions, once implemented, fail to have the desired result of qualifying Landlord’s Purchaser's rental income from Owner under the Lease as “"rents from real property” " pursuant to Sections 856(d)(2), 856(d)(8)(B) and 856(d)(9) of the Code. This Section 11.26 24.14 shall not apply in situations where an Adverse Regulatory Event has occurred; instead, Section 11.27 24.16 shall applyapply in such an instance.