Exclusion of Certain Transactions. In the event the Company or the Operating Partnership shall propose to enter into any transaction in which the Advisor, any Affiliate of the Advisor or any of the Advisor’s directors or officers has a direct or indirect interest, then such transaction shall be approved by a majority of the members of the Board not otherwise interested in such transaction, including a majority of the Independent Directors.
Appears in 17 contracts
Samples: Advisory Agreement (TNP Strategic Retail Trust, Inc.), Advisory Agreement (Bluerock Enhanced Multifamily Trust, Inc.), Advisory Agreement (Bluerock Enhanced Multifamily Trust, Inc.)
Exclusion of Certain Transactions. In the event (i) If the Company or the Operating Partnership shall propose to enter into any transaction in which the Advisor, any Affiliate of the Advisor or any of the Advisor’s directors or officers has a direct or indirect interest, then such transaction shall be approved by a majority of the members of the Board not otherwise interested in such transaction, including a majority of the Independent Directors.
(ii) If the Board elects to internalize any management services provided by the Advisor, neither the Company nor the Operating Partnership shall pay any compensation or other remuneration to the Advisor or its Affiliates in connection with the internalization transaction.
Appears in 13 contracts
Samples: Advisory Agreement (American Realty Capital Daily Net Asset Value Trust, Inc.), Advisory Agreement (American Realty Capital Global Trust, Inc.), Advisory Agreement (American Realty Capital Trust IV, Inc.)
Exclusion of Certain Transactions. In the event the Company or the Operating Partnership shall propose to enter into any transaction in which a Director or an officer of the Company, and the Advisor, or any Affiliate of the Company, the Operating Partnership or the Advisor or any of the Advisor’s directors or officers has a direct or indirect interest, then such transaction shall be approved by a majority of the members Board of the Board not otherwise interested in such transaction, including Directors and also by a majority of the Independent Directors.
Appears in 10 contracts
Samples: Advisory Agreement (Moody National REIT I, Inc.), Advisory Agreement (Moody National REIT I, Inc.), Advisory Agreement (Moody National REIT I, Inc.)
Exclusion of Certain Transactions. In the event If the Company or the Operating Partnership shall propose to enter into any transaction in which the Advisor, any Affiliate of the Advisor or any of the Advisor’s directors or officers has a direct or indirect interest, then such transaction shall be approved by a majority of the members of the Board not otherwise interested in such transaction, including a majority of the Independent Directors.
Appears in 8 contracts
Samples: Advisory Agreement (American Realty Capital Global Daily Net Asset Value Trust, Inc.), Advisory Agreement (American Realty Capital New York Recovery Reit Inc), Advisory Agreement (American Realty Capital New York Recovery Reit Inc)
Exclusion of Certain Transactions. In the event the If any Company or the Operating Partnership Entity shall propose to enter into any transaction in which the AdvisorManager, any Affiliate of the Advisor Manager or any of the AdvisorManager’s directors or officers has a direct or indirect interest, then such transaction shall be approved by a majority of the members of the Board not otherwise interested in such transaction, including a majority of the Independent Directors.
Appears in 8 contracts
Samples: Management Agreement (Preferred Apartment Communities Inc), Management Agreement (Preferred Apartment Communities Inc), Management Agreement (Preferred Apartment Communities Inc)
Exclusion of Certain Transactions. In the event the Company or the Operating Partnership shall propose to enter into any transaction in which the Advisor, any Affiliate of the Advisor or any of the Advisor’s directors or officers has a direct or indirect interest, then such transaction shall be approved by a majority of the members of the Board not otherwise interested in such transaction, including a majority of the Independent Directors.
Appears in 5 contracts
Samples: Advisory Agreement (Independence Realty Trust, Inc), Advisory Agreement (Independence Realty Trust, Inc), Advisory Agreement (Empire American Realty Trust Inc)
Exclusion of Certain Transactions. In the event (A) If the Company or the Operating Partnership shall propose to enter into any transaction in which the Advisor, any Affiliate of the Advisor or any of the Advisor’s directors or officers has a direct or indirect interest, then such transaction shall be approved by a majority of the members of the Board not otherwise interested in such transactiondisinterested Directors, including a majority of the disinterested Independent Directors.
(B) If the Board elects to internalize any management services provided by the Advisor, neither the Company nor the Partnership shall pay any compensation or other remuneration to the Advisor or its Affiliates in connection with the internalization transaction.
Appears in 5 contracts
Samples: Advisory Agreement (American Realty Capital - Retail Centers of America, Inc.), Advisory Agreement (American Realty Capital - Retail Centers of America, Inc.), Advisory Agreement (American Realty Capital - Retail Centers of America, Inc.)
Exclusion of Certain Transactions. In the event i. If the Company or the Operating Partnership shall propose to enter into any transaction in which the Advisor, any Affiliate of the Advisor or any of the Advisor’s directors or officers has a direct or indirect interest, then such transaction shall be approved by a majority of the members of the Board not otherwise interested in such transaction, including a majority of the Independent Directors.
ii. If the Board elects to internalize any management services provided by the Advisor, neither the Company nor the Operating Partnership shall pay any compensation or other remuneration to the Advisor or its Affiliates in connection with such internalization of management services.
Appears in 3 contracts
Samples: Advisory Agreement (ARC Realty Finance Trust, Inc.), Advisory Agreement (ARC Realty Finance Trust, Inc.), Advisory Agreement (ARC Realty Finance Trust, Inc.)
Exclusion of Certain Transactions. In the event (i) If the Company or the Operating Partnership shall propose to enter into any transaction in which the Advisor, any Affiliate of the Advisor or any of the Advisor’s directors or officers has a direct or indirect interest, then such transaction shall be approved by a majority of the members of the Board not otherwise interested in such transaction, including a majority of the Independent Directors.
(ii) If the Board elects to internalize any management services provided by the Advisor, neither the Company nor the Operating Partnership shall pay any compensation or other remuneration to the Advisor or its Affiliates in connection with such internalization of management services.
Appears in 3 contracts
Samples: Advisory Agreement (Benefit Street Partners Realty Trust, Inc.), Advisory Agreement (Realty Finance Trust, Inc.), Advisory Agreement (Realty Finance Trust, Inc.)
Exclusion of Certain Transactions. In the event If the Company or the Operating Partnership shall propose to enter into any transaction in which the Advisor, any Affiliate of the Advisor or any of the Advisor’s directors or officers has a direct or indirect interest, then such transaction shall be approved by a majority of the members of the Board not otherwise interested in such transactiondisinterested Directors, including a majority of the disinterested Independent Directors.
Appears in 2 contracts
Samples: Advisory Agreement (American Realty Capital - Retail Centers of America, Inc.), Advisory Agreement (American Realty Capital - Retail Centers of America, Inc.)
Exclusion of Certain Transactions. In the event If the Company or the Operating Partnership shall propose to enter into any transaction in which the Advisor, any Affiliate of the Advisor or any of the Advisor’s directors or officers Affiliate thereof has a direct or indirect interest, then such transaction shall be approved by a majority of the members of the Board not otherwise interested in such transaction, (including a majority of the Independent Directors) not otherwise interested in such transaction as fair and reasonable to the Company and on terms and conditions not less favorable to the Company than those available from unaffiliated third parties.
Appears in 1 contract
Samples: Advisory Agreement (American Realty Capital New York Recovery Reit Inc)
Exclusion of Certain Transactions. In the event the any Company or the Operating Partnership Entity shall propose to enter into any transaction in which an officer or director of such Company Entity, the Advisor, or any Affiliate of such Company Entity or the Advisor or any of the Advisor’s directors or officers has a direct or indirect interest, then such transaction shall be approved by the Conflicts Committee and a majority of the members Board of the Board not otherwise interested in such transaction, Directors (including a majority of the Independent Directors) as fair and reasonable to such Company Entity.
Appears in 1 contract
Samples: Advisory Agreement (Prime Realty Income Trust, Inc.)
