Common use of REIT Subsidiary Clause in Contracts

REIT Subsidiary. First Niagara Funding, Inc. is organized and carries on its business so as to enable it to qualify as a “real estate investment trust” (a “REIT”) under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended (the “Code”), and no transaction or other event has occurred or is expected to occur that would be reasonably likely to cause First Niagara Funding, Inc. to not qualify as a REIT for its current taxable year or for future taxable years.

REIT Subsidiary. First Niagara Funding, Inc. is organized and carries on its business so as to enable it to qualify as a “real estate investment trust” (a “REIT”) under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended (the “Code”), and no transaction or other event has occurred or is expected to occur that would be reasonably likely to cause First Niagara Funding, Inc. to not qualify as a REIT for its current taxable year or for future taxable years.