Certain Conflicts of Interest. Except as may be provided herein or as otherwise addressed by the Company’s conflicts of interest policies, the Company may not engage in any transaction involving a Conflict of Interest without first submitting such transaction to the Independent Representative for approval to determine whether such transaction is fair and reasonable to the Company and the Members; provided that no such Independent Representative approval shall be required to the extent that the Company obtains unsecured loans from related parties that, in the aggregate, do not exceed $20 million and do not carry an interest rate that exceeds the then current applicable prime rate with respect to such loans. The resolution of any Conflict of Interest approved by the Independent Representative shall be conclusively deemed to be fair and reasonable to the Company and the Members and not a breach of any duty hereunder at law, in equity or otherwise. Notwithstanding the above, to the extent required by applicable law, any transaction involving certain Conflicts of Interest shall be subject to review and approval by the Independent Representative.
Appears in 10 contracts
Samples: Operating Agreement (Reitless Impact Income Strategies LLC), Operating Agreement (REITless Impact Opportunity Zone Strategies LLC), Operating Agreement (Reitless Impact Income Strategies LLC)
Certain Conflicts of Interest. Except as may be provided herein or as otherwise addressed by the Company’s COMPANY'S conflicts of interest policies, the Company COMPANY may not engage in any transaction involving a Conflict conflict of Interest interest without first submitting such transaction to the Independent Representative for approval to determine whether such transaction is fair and reasonable to the Company COMPANY and the MembersShareholders; provided provided, however, that no such the COMPANY may not purchase investments from its AFFILIATES without a determination by the Independent Representative approval shall be required that such transaction is fair and reasonable to the extent COMPANY and at a price to the COMPANY that is not materially greater than the Company obtains unsecured loans from related parties thatcost of the asset to its AFFILIATE, in the aggregate, do not exceed $20 million and do not carry an interest rate that exceeds the then current applicable prime rate with respect to such loansas applicable. The resolution of any Conflict conflict of Interest interest approved by the Independent Representative shall be conclusively deemed to be fair and reasonable to the Company COMPANY and the Members Shareholders and not a breach of any duty hereunder at law, in equity or otherwise. Notwithstanding the above, to the extent required by applicable law, any transaction involving certain Conflicts of Interest interest shall be subject to review and approval by the Independent Representative.
Appears in 9 contracts
Samples: Operating Agreement (Strategic Hotel Ventures, LLC), Operating Agreement (Century West Multifamily Income Reit, LLC), Operating Agreement (Anabasis Real Estate Investment Trust, LLC)
Certain Conflicts of Interest. Except as may be provided herein or as otherwise addressed by the Company’s conflicts of interest policies, the Company may not engage in any transaction involving a Conflict of Interest without first submitting such transaction to the Independent Representative for approval to determine whether such transaction is fair and reasonable to the Company and the Members; provided that no such Independent Representative approval shall be required to the extent provided, however, that the Company obtains unsecured loans may not purchase investments from related parties that, in either Board or its respective Affiliates without a determination by the aggregate, do Independent Representative that such transaction is fair and reasonable to the Company and at a price to the Company that is not exceed $20 million and do not carry an interest rate that exceeds materially greater than the then current applicable prime rate with respect cost of the asset to such loansBoard or its Affiliate, as applicable. The resolution of any Conflict of Interest approved by the Independent Representative shall be conclusively deemed to be fair and reasonable to the Company and the Members and not a breach of any duty hereunder at law, in equity or otherwise. Notwithstanding the above, to the extent required by applicable law, any transaction involving certain Conflicts of Interest shall be subject to review and approval by the Independent Representative.
Appears in 1 contract
Samples: Operating Agreement (LODE Payments International LLC)
Certain Conflicts of Interest. Except as may be provided herein or as otherwise addressed by the Company’s conflicts of interest policies, the Company may not engage in any transaction involving a Conflict of Interest without first submitting such transaction to the Independent Representative for approval to determine whether such transaction is fair and reasonable to the Company and the Members; provided that no such Independent Representative approval shall be required to the extent provided, however, that the Company obtains unsecured loans may not purchase investments from related parties that, in either Manager or its respective Affiliates without a determination by the aggregate, do Independent Representative that such transaction is fair and reasonable to the Company and at a price to the Company that is not exceed $20 million and do not carry an interest rate that exceeds materially greater than the then current applicable prime rate with respect cost of the asset to such loansManager or its Affiliate, as applicable. The resolution of any Conflict of Interest approved by the Independent Representative shall be conclusively deemed to be fair and reasonable to the Company and the Members and not a breach of any duty hereunder at law, in equity or otherwise. Notwithstanding the above, to the extent required by applicable law, any transaction involving certain Conflicts of Interest shall be subject to review and approval by the Independent Representative.
Appears in 1 contract
Samples: Operating Agreement (StartEngine Real Estate REIT 1 LLC)
Certain Conflicts of Interest. Except as may be provided herein or as otherwise addressed by the Company’s conflicts of interest policies, the Company may not engage in any transaction involving a Conflict of Interest without first submitting such transaction to the Independent Representative for approval to determine whether such transaction is fair and reasonable to the Company and the Members; Members; provided that no such Independent Representative approval shall be required to the extent that the Company obtains unsecured loans from related parties that, in the aggregate, do not exceed $20 million and do not carry an interest rate that exceeds the then current applicable prime rate with respect to such loans. The resolution of any Conflict of Interest approved by the Independent Representative shall be conclusively deemed to be fair and reasonable to the Company and the Members and not a breach of any duty hereunder at law, in equity or otherwise. Notwithstanding the above, to the extent required by applicable law, any transaction involving certain Conflicts of Interest shall be subject to review and approval by the Independent Representative.
Appears in 1 contract
Samples: Operating Agreement