Common use of Status of the Corporation Clause in Contracts

Status of the Corporation. The Corporation is a corporation duly formed and existing under the laws of Maryland in good standing with the State Department of Assessments and Taxation of Maryland, with the power to own, lease and operate its properties and to conduct its business as it is currently being conducted. The Corporation is duly qualified as a foreign organization to transact business and is in good standing in each jurisdiction in which such qualification is required, whether by reason of the ownership or leasing of property or the conduct of business. The Corporation is organized in conformity with the requirements for qualification as a real estate investment trust under the Code and currently intends to operate in a manner which allows the Corporation to continue to meet the requirements for taxation as a real estate investment trust under the Code.