Amendment to Section 3 of the Expense Support Agreement. The Parties hereby amend and restate Section 3 of the Expense Support Agreement in its entirety; and Section 3 as amended and restated shall henceforth read as follows:
Amendment to Section 3 of the Expense Support Agreement. The Parties hereby amend Section 3 of the Expense Support Agreement by adding the following two (2) additional sentences to the end of Section 3(a): “In the event this Agreement is terminated on a date other than a Determination Date, for purposes of calculating the Expense Support Amount for the then current year, the Parties shall refer to the immediately preceding calendar quarter and calculate, on a cumulative year-to-date basis as of such calendar quarter, the positive excess, if any, of (a) aggregate cumulative stockholder cash distributions declared for the then current year through the immediately preceding calendar quarter; over (b) the Company’s MFFO for the same period. In the event any Expense Support Amount is calculated pursuant to the immediately preceding sentence, the Advisor shall credit the Expense Support Amount to the Company in exchange for Restricted Stock pursuant to the applicable terms of this Agreement.”
Amendment to Section 3 of the Expense Support Agreement. The Parties hereby amend Section 3 of the Expense Support Agreement by adding the following two (2) additional sentences to the end of Section 3(a): “In the event this Agreement is terminated on a date other than a Determination Date, for purposes of calculating the Property Manager Expense Support Amount for the then current year, the Parties shall refer to the Expense Support Amount calculated pursuant to the Advisor Expense Support Agreement for the immediately preceding calendar quarter and determine whether, on a cumulative year-to-date basis as of such calendar quarter, the Expense Support Amount is less than (a) aggregate stockholder cash distributions declared for the then current year through the immediately preceding calendar quarter, over (b) the Company’s aggregate MFFO for the same period. In the event any Property Manager Expense Support Amount is calculated pursuant to the immediately preceding sentence, the Property Manager shall credit the Property Manager Expense Support Amount to the Company in exchange for Restricted Stock pursuant to the applicable terms of this Agreement.”
