Extract to table

Unless otherwise defined herein, capitalized terms used in this opinion shall have the meanings ascribed to them in the Registration Statement and the Base Prospectus

Income Tests A REIT must satisfy two annual gross income requirements under the Code: The 75% Gross Income Test

To the extent the Company furnishes or renders services to tenants that are other than those "usually or customarily rendered" in connection with the rental of space for occupancy only, and the income attributable to such services is not de minimis, such income must be received through an independent contractor from whom the Company derives no income, or through a taxable REIT subsidiary

Asset Tests At the close of each calendar quarter of each taxable year, a REIT must satisfy several asset composition tests under Section 856(c)(4) of the Code: (i) The 75% Asset Test

Ownership Requirements and Share Transfer Restrictions As noted above, to qualify as a REIT, the Company must not be "closely held" within the meaning of Section 856(h) of the Code, and it must have at least 100 beneficial owners for the requisite number of days during each taxable year