Common use of Limitation to Preserve REIT Status Clause in Contracts

Limitation to Preserve REIT Status. Notwithstanding anything else in this Agreement, to the extent that the amount to be paid or credited by the Partnership to any REIT Partner or its officers, directors, employees or agents as a reimbursement, fee, expense or indemnity (a “REIT Payment”), would constitute gross income to the REIT Partner for purposes of Code Section 856(c)(2) or Code Section 856(c)(3), then, notwithstanding any other provision of this Agreement, the amount of such REIT Payments, as selected by the General Partner in its discretion from among items of potential reimbursements, fees, expenses and indemnities, shall be reduced for any Partnership Year so that the REIT Payments, as so reduced, for or with respect to such REIT Partner shall not exceed the lesser of:

Limitation to Preserve REIT Status. Notwithstanding anything else in this Agreement, to the extent that the amount to be paid paid, credited, distributed or credited reimbursed by the Partnership to any REIT the General Partner or its officers, directors, employees or agents agents, whether as a reimbursement, fee, expense or indemnity (a “REIT Payment”), would constitute gross income to the REIT General Partner for purposes of Code Section 856(c)(2) or Code Section 856(c)(3), then, notwithstanding any other provision of this Agreement, then the amount of such REIT Payments, as selected by the General Partner in its sole discretion from among items of potential reimbursementsdistribution, reimbursement, fees, expenses and indemnities, shall be reduced for any Partnership Year so that the REIT Payments, as so reduced, for or with respect to such REIT Partner the General Partner, shall not exceed the lesser of:

Limitation to Preserve REIT Status. Notwithstanding anything else in this Agreement, to the extent that the amount to be paid paid, credited, distributed or credited reimbursed by the Partnership to any REIT Partner the General Partner, or its officers, directors, employees or agents agents, whether as a reimbursement, fee, expense or indemnity (a “REIT Payment”), would constitute gross income to the REIT General Partner for purposes of Code Section 856(c)(2) or Code Section 856(c)(3), then, notwithstanding any other provision of this Agreement, then the amount of such REIT Payments, as selected by the General Partner in its sole and absolute discretion from among items of potential reimbursementsdistribution, reimbursement, fees, expenses and indemnities, shall be reduced for any Partnership Year so that the REIT Payments, as so reduced, for or with respect to such REIT Partner Omega REIT, shall not exceed the lesser of:

Limitation to Preserve REIT Status. Notwithstanding anything else in this Agreement, to the extent that the amount to be paid paid, credited, distributed or credited reimbursed by the Partnership to any REIT the General Partner or its officers, directors, employees or agents agents, whether as a reimbursement, fee, expense or indemnity (a “REIT Payment”), would constitute gross income to the REIT General Partner for purposes of Code Section 856(c)(2) or Code Section 856(c)(3), then, notwithstanding any other provision of this Agreement, then the amount of such REIT Payments, as selected by the General Partner in its sole discretion from among items of potential reimbursementsdistribution, reimbursement, fees, expenses and indemnities, shall be reduced for any Partnership Year so that the REIT Payments, as so reduced, for or with respect to such REIT the General Partner shall not exceed the lesser of: