Common use of Conduct Activities in Conformity with REIT Status and All Applicable Restrictions Clause in Contracts

Conduct Activities in Conformity with REIT Status and All Applicable Restrictions. At all times subject to the direction of the Board of Directors and with reasonable advance notice from the REIT of any pertinent information relating to any activities of the REIT as may then be conducted by Other Managers, the Manager shall refrain from any action which would adversely affect the status of the REIT or, if applicable, any subsidiary of the REIT as a Real Estate Investment Trust or (i) which would violate any material law, rule or regulation of any governmental body or agency having jurisdiction over the REIT or any such subsidiary or (ii) which would otherwise not be permitted by the REIT’s or such subsidiary’s Governing Instruments, any material operating policies adopted by the REIT, or any agreements actually known by the Manager, except in each of clauses (i) and (ii) as could not reasonably be expected to have a material adverse effect on the REIT. If the Manager is directed to take any such action by the Board of Directors, the Manager shall promptly notify the Board of Directors of the Manager’s judgment that such action would adversely affect such status or cause such violation or not be permitted as aforesaid.

Conduct Activities in Conformity with REIT Status and All Applicable Restrictions. At all times (and, if and when any of the stock of the REIT becomes publicly traded, subject to the direction of the Board of Directors Directors) and with reasonable advance notice from the REIT of any pertinent information relating to any activities of the REIT as may then be conducted by Other Managers, the Manager shall refrain from any action which would adversely affect the status of the REIT or, if applicable, any subsidiary of the REIT as a Real Estate Investment Trust or (i) which would violate any material law, rule or regulation of any governmental body or agency having jurisdiction over the REIT or any such subsidiary or (ii) which would otherwise not be permitted by the REIT’s or such subsidiary’s Governing Instruments, any material operating policies adopted by the REIT, or any agreements actually known by the Manager, except in each of clauses (i) and (ii) as could not reasonably be expected to have a material adverse effect on the REIT. If the Manager is directed to take any such action by the Board of DirectorsDirectors (if and when any of the stock of the REIT becomes publicly traded), the Manager shall promptly notify the Board of Directors (if and when any of the stock of the REIT becomes publicly traded) of the Manager’s judgment that such action would adversely affect such status or cause such violation or not be permitted as aforesaid.

Conduct Activities in Conformity with REIT Status and All Applicable Restrictions. At all times subject Subject to the direction of the Board of Directors and with reasonable advance notice from the REIT of any pertinent information relating to any activities of the REIT as may then be conducted by Other ManagersDirectors, the Manager Advisor shall refrain from any action which which, in its sole judgment made in good faith, would adversely affect the status of the REIT Company or, if applicable, any subsidiary of the REIT Company as a Real Estate Investment Trust REIT or (i) which which, in its sole judgment made in good faith, would violate any material law, rule or regulation of any governmental body or agency having jurisdiction over the REIT Company or any such subsidiary or (ii) which would otherwise not be permitted by the REITCompany’s or such subsidiary’s Governing Instruments, any material operating policies adopted by the REITCompany, or any agreements actually known by the ManagerAdvisor, except in each of clauses (i) and (ii) as could not reasonably be expected to have a material adverse effect on the REITCompany. If the Manager Advisor is directed to take any such action by the Board of Directors, the Manager Advisor shall promptly notify the Board of Directors of the ManagerAdvisor’s judgment that such action would adversely affect such status or cause such violation or not be permitted as aforesaid.

Conduct Activities in Conformity with REIT Status and All Applicable Restrictions. At all times subject Subject to the direction of the Board of Directors and with reasonable advance notice from the REIT Company of any pertinent information relating to any activities of the REIT Company as may then be conducted by Other Managers, the Manager shall refrain from any action which would adversely affect the status of the REIT Company or, if applicable, any subsidiary of the REIT Company as a Real Estate Investment Trust REIT or (i) which would violate any material law, rule or regulation of any governmental body or agency having jurisdiction over the REIT Company or any such subsidiary or (ii) which would otherwise not be permitted by the REITCompany’s or such subsidiary’s Governing Instruments, any material operating policies adopted by the REITCompany, or any agreements actually known by the Manager, except in each of clauses (i) and (ii) as could not reasonably be expected to have a material adverse effect on the REITCompany. If the Manager is directed to take any such action by the Board of Directors, the Manager shall promptly notify the Board of Directors of the Manager’s judgment that such action would adversely affect such status or cause such violation or not be permitted as aforesaid.

Conduct Activities in Conformity with REIT Status and All Applicable Restrictions. At all times subject Subject to the direction of the Board of Directors and with reasonable advance notice from the REIT of any pertinent information relating to any activities of the REIT as may then be conducted by Other ManagersDirectors, the Manager shall refrain from any action which which, in its sole judgment made in good faith, would adversely affect the status of the REIT Company or, if applicable, any subsidiary of the REIT Company as a Real Estate Investment Trust REIT or (i) which which, in its sole judgment made in good faith, would violate any material law, rule or regulation of any governmental body or agency having jurisdiction over the REIT Company or any such subsidiary or (ii) which would otherwise not be permitted by the REITCompany’s or such subsidiary’s Governing Instruments, any material operating policies adopted by the REITCompany, or any agreements actually known by the Manager, except in each of clauses (i) and (ii) as could not reasonably be expected to have a material adverse effect on the REITCompany. If the Manager is directed to take any such action by the Board of Directors, the Manager shall promptly notify the Board of Directors of the Manager’s judgment that such action would adversely affect such status or cause such violation or not be permitted as aforesaid.