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 has a direct or indirect interest, then such transaction shall be approved by a majority of the disinterested members of the Board and also by a majority of the Independent Directors.
Appears in 9 contracts
Samples: Advisory Agreement (Parking REIT, Inc.), Advisory Agreement (MVP REIT II, Inc.), Merger Agreement (MVP REIT II, 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 has a direct or indirect interest, then such transaction shall be approved by a majority of the disinterested members of the Board and also by a majority of the Independent Directors.
Appears in 6 contracts
Samples: Advisory Agreement (Moody National REIT II, Inc.), Merger Agreement (Moody National REIT I, Inc.), Agreement and Plan of Merger (Moody National REIT II, Inc.)
