Common use of Ownership of OP Units Clause in Contracts

Ownership of OP Units. The Limited Partnership Agreement of the Operating Partnership is in full force and effect. All of the OP Units issued in exchange for the Initial Securities to be sold by the Company have been duly authorized and, at the Closing Time and each Date of Delivery, if any, will be validly issued, fully paid and non-assessable and will be owned by the Company free and clear of any security interest, mortgage, pledge, lien, encumbrance, claim or equity, and none of such OP Units will be issued in violation of any preemptive rights or other similar rights. All of the OP Units issued in exchange for the Company Top-Up Underwritten Shares, if any, to be issued and sold by the Company hereunder have been duly authorized and, when issued and delivered, will be validly issued, fully paid and non-assessable and will be owned by the Company free and clear of any security interest, mortgage, pledge, lien, encumbrance, claim or equity, and none of such OP Units will be issued in violation of any preemptive rights or other similar rights. All of the OP Units issued in exchange for Common Shares issued upon settlement of the Forward Sale Agreement, if any, to be issued and sold by the Company have been duly authorized and, when issued and delivered, will be validly issued, fully paid and non-assessable and will be owned by the Company free and clear of any security interest, mortgage, pledge, lien, encumbrance, claim or equity, and none of such OP Units will be issued in violation of any preemptive rights or other similar rights. The Company is the direct or indirect owner of all OP Units.

Ownership of OP Units. The Limited Partnership Agreement of the Operating Partnership Partnership, as amended, is in full force and effect. All of the OP Units issued in exchange for the Initial Securities to be sold by the Company have been duly authorized and, at the Closing Time and each Date of Delivery, if any, will be validly issued, fully paid and non-assessable and will be owned by the Company free and clear of any security interest, mortgage, pledge, lien, encumbrance, claim or equity, and none of such OP Units will be issued in violation of any preemptive rights or other similar rights. All of the OP Units issued in exchange for the Company Top-Up Underwritten Shares, if any, to be issued and sold by the Company hereunder have been duly authorized and, when issued and delivered, will be validly issued, fully paid and non-assessable and will be owned by the Company free and clear of any security interest, mortgage, pledge, lien, encumbrance, claim or equity, and none of such OP Units will be issued in violation of any preemptive rights or other similar rights. All of the OP Units issued in exchange for Common Shares issued upon settlement of the Forward Sale Agreement, if any, to be issued and sold by the Company have been duly authorized and, when issued and delivered, will be validly issued, fully paid and non-assessable and will be owned by the Company free and clear of any security interest, mortgage, pledge, lien, encumbrance, claim or equity, and none of such OP Units will be issued in violation of any preemptive rights or other similar rights. The Company is the direct or indirect owner of all OP Units.