Common use of LIMITED ACTIVITIES Clause in Contracts

LIMITED ACTIVITIES. Each Contributed Helmsley Entity is a single purpose entity formed solely to own the Participation Interests in its respective REIT Contributing Entity and such Contributed Helmsley Entity has not engaged in any business or other activities, except in connection with ownership of its Participation Interests in a REIT Contributing Entity. Each Contributed Helmsley Entity’s sole asset is its Participation Interest in a REIT Contributing Entity. None of the Contributed Helmsley Entities has incurred any liabilities or any other obligations of any nature whatsoever, except liabilities or other obligations as a Participant in the REIT Contributing Entities.