Common use of Research Independence Clause in Contracts

Research Independence. In addition, the Company acknowledges that the Underwriters’ research analysts and research departments are required to be independent from their respective investment banking divisions and are subject to certain regulations and internal policies, and that such Underwriters’ research analysts may hold and make statements or investment recommendations and/or publish research reports with respect to the Company and/or the Offering that differ from the views of its investment bankers. The Company acknowledges that each of the Underwriters is a full service securities firm and as such from time to time, subject to applicable securities laws, may effect transactions for its own account or the account of its customers and hold long or short positions in debt or equity securities of the companies which may be the subject of the transactions contemplated by this Agreement.

Research Independence. In addition, the Company acknowledges that the Underwriters’ each Underwriter's research analysts and research departments departments, if any, are required to be independent from their respective investment banking divisions and are subject to certain regulations and internal policies, and that such Underwriters’ Underwriter's research analysts may hold and make statements or investment recommendations and/or publish research reports with respect to the Company and/or the Offering offering that differ from the views of its investment bankers. The Company acknowledges that each of the Underwriters Representative is a full service securities firm and as such from time to time, subject to applicable securities laws, may effect transactions for its own account or the account of its customers and hold long or short positions position in debt or equity securities of the companies which may be the subject of the transactions contemplated by this AgreementCompany.

Research Independence. In addition, the Company acknowledges that the Underwriters’ each Underwriter’s research analysts and research departments departments, if any, are required to be independent from their respective investment banking divisions and are subject to certain regulations and internal policies, and that such Underwriters’ Underwriter’s research analysts may hold and make statements or investment recommendations and/or publish research reports with respect to the Company and/or the Offering offering that differ from the views of its investment bankers. The Company acknowledges that each of the Underwriters Representative is a full service securities firm and as such from time to time, subject to applicable securities laws, the Representative may effect transactions for its own account or the account of its customers and hold long or short positions position in debt or equity securities of the companies which may be the subject of the transactions contemplated by this AgreementCompany.

Research Independence. In addition, the Company Operating Partnership acknowledges that the Underwriters’ research analysts and research departments are required to be independent from their respective investment banking divisions and are subject to certain regulations and internal policies, and that such Underwriters’ research analysts may hold and make statements or investment recommendations and/or publish research reports with respect to the Company Operating Partnership and/or the Offering that differ from the views of its investment bankers. The Company Operating Partnership acknowledges that each of the Underwriters is a full service securities firm and as such from time to time, subject to applicable securities laws, may effect transactions for its own account or the account of its customers and hold long or short positions in debt or equity securities of the companies which may be the subject of the transactions contemplated by this Agreement.

Research Independence. In addition, the The Company acknowledges that the Underwriters’ ' research analysts and research departments are required to be independent from their respective investment banking divisions and are subject to certain regulations and internal policies, and that such Underwriters’ ' research analysts may hold and make statements or investment recommendations and/or publish research reports with respect to the Company and/or the Offering offering that differ from the views of its investment bankers. The Company acknowledges that each of the Underwriters is a full service securities firm and as such from time to time, subject to applicable securities laws, may effect transactions for its own account or the account of its customers and hold long or short positions in debt or equity securities of the companies which may be the subject of the transactions contemplated by this Agreement.

Research Independence. In addition, the Company acknowledges that the Underwriters’ Underwriter’s research analysts and research departments are required to be independent from their respective investment banking divisions and are subject to certain regulations and internal policies, and that such Underwriters’ Underwriter’s research analysts may hold and make statements or investment recommendations and/or publish research reports with respect to the Company and/or the Offering offering that differ from the views of its investment bankers. The Company acknowledges that each of the Underwriters Underwriter is a full service securities firm and as such from time to time, subject to applicable securities laws, may effect transactions for its own account or the account of its customers and hold long or short positions position in debt or equity securities of the companies which may be the subject of to the transactions contemplated by this Agreement.

Research Independence. In addition, the The Company acknowledges that the Underwriters’ each Underwriter's research analysts and research departments departments, if any, are required to be independent from their respective investment banking divisions and are subject to certain regulations and internal policies, and that such Underwriters’ Underwriter's research analysts may hold and make statements or investment recommendations and/or publish research reports with respect to the Company and/or the Offering offering that differ from the views of its investment bankers. The Company acknowledges that each of the Underwriters Representative is a full service securities firm and as such from time to time, subject to applicable securities laws, may effect transactions for its own account or the account of its customers and hold long or short positions position in debt or equity securities of the companies which may be the subject of the transactions contemplated by this AgreementCompany.

Research Independence. In addition, the The Company acknowledges that the Underwriters’ each Underwriter’s research analysts and research departments departments, if any, are required to be independent from their respective investment banking divisions and are subject to certain regulations and internal policies, and that such Underwriters’ Underwriter’s research analysts may hold and make statements or investment recommendations and/or publish research reports with respect to the Company and/or the Offering offering that differ from the views of its investment bankers. The Company acknowledges that each of the Underwriters Representative is a full service securities firm and as such from time to time, subject to applicable securities laws, may effect transactions for its own account or the account of its customers and hold long or short positions position in debt or equity securities of the companies which may be the subject of the transactions contemplated by this AgreementCompany.

Research Independence. In addition, the The Company acknowledges that the Underwriters’ each Underwriter’s research analysts and research departments departments, if any, are required to be independent from their respective investment banking divisions and are subject to certain regulations and internal policies, and that such Underwriters’ Underwriter’s research analysts may hold and make statements or investment recommendations and/or publish research reports with respect to the Company and/or the Offering offering that differ from the views of its investment bankers. The Company acknowledges that each of the Underwriters Representative is a full service securities firm and as such from time to time, subject to applicable securities laws, the Representative may effect transactions for its own account or the account of its customers and hold long or short positions position in debt or equity securities of the companies which may be the subject of the transactions contemplated by this AgreementCompany.

Research Independence. In addition, the Company acknowledges that the Underwriters’ each Underwriter’s research analysts and research departments departments, if any, are required to be independent from their respective investment banking divisions and are subject to certain regulations and internal policies, and that such Underwriters’ Underwriter’s research analysts may hold and make statements or investment recommendations and/or publish research reports with respect to the Company and/or the Offering offering that differ from the views of its investment bankers. The Company acknowledges that the Representatives are each of the Underwriters is a full service securities firm and as such from time to time, subject to applicable securities laws, each Representative may effect transactions for its own account or the account of its customers and hold long or short positions position in debt or equity securities of the companies which may be the subject of the transactions contemplated by this AgreementCompany.

Research Independence. In addition, the Company acknowledges that the Underwriters’ each Underwriter's research analysts and research departments departments, if any, are required to be independent from their respective investment banking divisions and are subject to certain regulations and internal policies, and that such Underwriters’ Underwriter's research analysts may hold and make statements or investment recommendations and/or publish research reports with respect to the Company and/or the Offering offering that differ from the views of its investment bankers. The Company acknowledges that the Representatives are each of the Underwriters is a full service securities firm and as such from time to time, subject to applicable securities laws, may effect transactions for its own account or the account of its customers and hold long or short positions position in debt or equity securities of the companies which may be the subject of the transactions contemplated by this AgreementCompany.

Research Independence. In addition, the The Company acknowledges that the Underwriters’ research analysts and research departments are required to be independent from their respective investment banking divisions and are subject to certain regulations and internal policies, and that such Underwriters’ research analysts may hold and make statements or investment recommendations and/or publish research reports with respect to the Company and/or the Offering offering that differ from the views of its investment bankers. The Company acknowledges that each of the Underwriters is a full service securities firm and as such from time to time, subject to applicable securities laws, may effect transactions for its own account or the account of its customers and hold long or short positions in debt or equity securities of the companies which may be the subject of the transactions contemplated by this Agreement.

Research Independence. In addition, the Company acknowledges and the Selling Stockholders acknowledge that the Underwriters’ Underwriter’s research analysts and research departments are required to be independent from their respective investment banking divisions and are subject to certain regulations and internal policies, and that such Underwriters’ Underwriter’s research analysts may hold and make statements or investment recommendations and/or publish research reports with respect to the Company and/or the Offering offering that differ from the views of its investment bankers. The Company acknowledges and the Selling Stockholders acknowledge that each of the Underwriters Underwriter is a full service securities firm and as such from time to time, subject to applicable securities laws, may effect transactions for its own account or the account of its customers and hold long or short positions in debt or equity securities of the companies which may be the subject of the transactions contemplated by this Agreement.

Research Independence. In addition, the Company acknowledges that the Underwriters’ ' research analysts and research departments are required to be independent from their respective investment banking divisions and are subject to certain regulations and internal policies, and that such Underwriters’ ' research analysts may hold and make statements or investment recommendations and/or publish research reports with respect to the Company and/or the Offering sale of the Shares that differ from the views of its investment bankers. The Company acknowledges that each of the Underwriters is a full service securities firm and as such from time to time, subject to applicable securities laws, may effect transactions for its own account or the account of its customers and hold long or short positions in debt or equity securities of the companies which may be the subject of the transactions contemplated by this Agreement.