Investment Opportunities and Allocation. (A) The Sub-advisor shall be required to use commercially reasonable efforts to present a continuing and suitable investment program to the Company that is consistent with the investment policies and objectives of the Company. So long as the Advisor is acting in its capacity as advisor under the Advisory Agreement, each of the Advisor and the Sub-advisor will not (and will cause its Affiliates to not) (i) pursue any opportunity to acquire any Property, Loan or other Permitted Investment that fits within the Company’s strategy, or (ii) offer such Property, Loan or other Permitted Investment to a third party, in each case unless and until such opportunity is first presented to the Company. The Company shall have 30 days from the date of its receipt of a complete written offering package relating to such opportunity, customary in scope and content, to notify the Advisor or the Sub-advisor, as the case may be, of the Company’s decision as to whether or not to pursue such opportunity. If the Company fails so to notify the Advisor or the Sub-advisor, as the case may be, within such 30-day period, the Company shall be deemed to have passed on such opportunity. If the Company passes on such opportunity, then the Advisor, Sub-advisor or such Affiliate, as the case may be, may acquire the subject investment or offer the subject investment to a third party for a period of 180 days, in each case on terms and conditions (including price) that are not materially different from the terms and conditions set forth in the offering package to the Company. If at the expiration of such 180-day period, such opportunity remains available, then the provisions of this Section 8.4(A) shall once again apply to such opportunity. Notwithstanding the preceding, however, the Advisor or any Affiliate of the Advisor shall be permitted to pursue any opportunity or to offer any opportunity to a third party in respect of (1) any net leased retail, office and industrial properties or other property consistent with the investment policies of American Reality Capital Trust, Inc., (2) any commercial real estate or other real estate investments that relate to office, retail, multi-family residential, industrial and hotel property types, located primarily in the New York metropolitan area or other property consistent with the investment policies of American Realty Capital New York Recovery REIT, Inc., or (3) any investments to be made by a contemplated non-traded REIT (the “Identified REIT”) that the Advisor or any of its Affiliates has described as (a) intending to invest primarily in “power center” real estate developments, (b) being sponsored or co-sponsored by ARC (or one of its Affiliates), the acquisition services for which will be provided by an international commercial and residential real estate developer and manager (or one of its Affiliates), and (c) being the subject of an executed letter of intent or term sheet between the Advisor (or one of its Affiliates) and such international commercial and residential real estate developer and manager (or one of its Affiliates), and which has or will have as its publicly disclosed (and not subsequently revised or required to be revised under applicable securities laws) investment objectives to have less than 20% of its assets (measured by purchase price) in anchored shopping centers with purchase prices of less than $20,000,000 per property (determined once the proceeds of the offering have been fully invested). (B) If Fund IV, Xxxxxxxx Xxxxxx Shopping Center Fund III, L.P., Xxxxxxxx Xxxxxx Strategic Investment Fund or Xxxxxxxx Xxxxxx Limited Partnership presents an investment opportunity to the Company and discloses in writing that such entity is attempting to seek properties to qualify for tax deferred treatment under Section 1031 of the Code, then if the Company does not respond within 21 days, the Company shall be deemed to have passed on such investment opportunity. For clarification, developing single tenant retail or commercial properties shall not be considered to fit within the Company’s strategy. (C) Notwithstanding the preceding, the restrictions in clauses (A) and (B) will cease to be effective upon termination of the Offering Period or, if later, the time when all equity raised during the Offering Period has been substantially invested or committed to investment. (D) Except as provided in this Section 8.4, none of the Advisor and the Sub-advisor nor any of their respective Affiliates shall be obligated generally to present any particular investment opportunity to the Company.
Appears in 3 contracts
Samples: Sub Advisory Agreement (Phillips Edison - ARC Shopping Center REIT Inc.), Sub Advisory Agreement (Phillips Edison - ARC Shopping Center REIT Inc.), Sub Advisory Agreement (Phillips Edison - ARC Shopping Center REIT Inc.)
Investment Opportunities and Allocation. (A) The Sub-advisor shall be required to use commercially reasonable efforts to present a continuing and suitable investment program opportunities to the Company that is are consistent with the investment policies and objectives of the Company. Company set forth in the “Investment Objectives and Criteria” section of the Prospectus.
(B) So long as the Advisor Sub-advisor is acting in its capacity as sub-advisor under the Advisory this Agreement, each of the Advisor and the Sub-advisor will not (and will cause its Affiliates to not) (i) pursue any opportunity to acquire a Primary Target Investment from any Property, Loan or other Permitted Investment that fits within the Company’s strategythird-party, or (ii) offer such Property, Loan act as a finder’s agent for or other Permitted otherwise source the opportunity to acquire a Primary Target Investment to for a third party, in party (each case unless and until such opportunity is in clause (i) or (ii) being a “First Offer Opportunity”) without first presented offering such First Offer Opportunity to the CompanyCompany in writing (the “Offer Notice”). The Offer Notice shall set forth the terms on which the seller is willing to sell such First Offer Opportunity together with any other material details customarily set forth in the acquisition materials for an asset similar to the asset that is the subject of the First Offer Opportunity. The Company shall have 30 days from the date of its receipt of a complete written offering package relating to such opportunity, customary in scope and content, the Offer Notice to notify the Advisor or the Sub-advisor, as the case may be, advisor of the Company’s 's decision as to whether or not to pursue such opportunityFirst Offer Opportunity. If the Company fails so to notify the Advisor or the Sub-advisor, as the case may be, advisor of its election within such 30-day period, then the Company shall be deemed to have passed on rejected such opportunityFirst Offer Opportunity. If the Company passes on rejects (or is deemed to have rejected) such opportunityFirst Offer Opportunity, then the Advisor, Sub-advisor and/or any of its Affiliates shall be free to pursue such First Offer Opportunity (on its own or such Affiliatewith other third-party investors), as the case may be, may acquire the subject investment or offer the subject investment such First Offer Opportunity to a third party third-party, in each case, for a period of 180 days, in each case days on terms and conditions (including price) that are not materially different from the terms and conditions set forth in the offering package Offer Notice to the Company. If If, at the expiration of such 180-day period, such opportunity remains availableFirst Offer Opportunity is not the subject of a binding contract or letter of intent, then the provisions of this Section 8.4(A8.4(B) shall once again apply to such opportunityFirst Offer Opportunity. For the avoidance of doubt, this Section 8.4(B) shall only apply to the acquisition of a Primary Target Investment being sold by a party unaffiliated with the Sub-advisor and its Affiliates and shall not be interpreted or construed as applying to the sale or disposition of any Primary Target Investment by the Sub-advisor or any of its Affiliates.
(C) Notwithstanding anything to the preceding, howevercontrary in this Agreement, the Advisor or right of first offer set forth in Section 8.4(B) shall not apply to: (i) the acquisition of any Primary Target Investment by an Affiliate of the Advisor shall be permitted to pursue any opportunity or to Sub-advisor from another Affiliate of the Sub-advisor; (ii) the offer any of the opportunity to acquire a third party Primary Target Investment by an Affiliate of the Sub-advisor to Xxxxxxxx Xxxxxx Grocery Center REIT I, Inc., except as contemplated in respect the Investment Allocation Agreement by and among the Company, the Sub-advisor and Xxxxxxxx Xxxxxx Grocery Center REIT I, Inc. dated as of November 25, 2013; (1iii) the offer of the opportunity to acquire any net leased retail, office and industrial properties distribution or other property consistent with the investment policies of American Reality Capital TrustPECO NNN Development LLC, Inc.PECO Net Lease Income Fund, (2) LLC or any commercial real estate successor program sponsored directly or other real estate investments that relate to office, retail, multi-family residential, industrial and hotel property types, located primarily in the New York metropolitan area or other property consistent with the investment policies of American Realty Capital New York Recovery REIT, Inc., or (3) any investments to be made indirectly by a contemplated non-traded REIT (the “Identified REIT”) that the Advisor Xxxxxxxx Xxxxxx Limited Partnership or any of its Affiliates has described as with the same or similar investment objectives; and (aiv) intending the offer of the opportunity to invest primarily in “acquire any value added or opportunistic retail centers, including power center” real estate developmentscenters, (b) being sponsored or colifestyle centers, enclosed malls, mixed-sponsored by ARC (or one of its Affiliates), the acquisition services for which will be provided by an international commercial and residential real estate developer and manager (or one of its Affiliates)use centers, and (c) being enclosed malls, that contain a substantial retail component, consistent with the subject of an executed letter of intent or term sheet between the Advisor (or one of its Affiliates) and such international commercial and residential real estate developer and manager (or one of its Affiliates), and which has or will have as its publicly disclosed (and not subsequently revised or required to be revised under applicable securities laws) investment objectives to have less than 20% of its assets (measured by purchase price) in anchored shopping centers with purchase prices of less than $20,000,000 per property (determined once the proceeds of the offering have been fully invested).
(B) If Fund IV, Xxxxxxxx Xxxxxx Shopping Center Strategic Investment Fund IIIII, L.P.LLC, Xxxxxxxx Xxxxxx Strategic Investment Fund III, LP or any successor program sponsored directly or indirectly by Xxxxxxxx Xxxxxx Limited Partnership presents an or any of its Affiliates with the same or similar investment opportunity to the Company and discloses in writing that such entity is attempting to seek properties to qualify for tax deferred treatment under Section 1031 of the Code, then if the Company does not respond within 21 days, the Company shall be deemed to have passed on such investment opportunity. For clarification, developing single tenant retail or commercial properties shall not be considered to fit within the Company’s strategyobjectives.
(CD) Notwithstanding the preceding, the restrictions in clauses (A) This Section 8.4 shall terminate and (B) will cease to be effective upon (i) any termination of this Agreement or (ii) the later of (y) termination of the Offering Period or, if later, and (z) the time when date on which all equity raised during the Offering Period has been substantially invested or committed to investment.
(DE) The Company is a third-party beneficiary of the terms and conditions of this Section 8.4 and shall have the right to directly enforce such provisions against the Sub-advisor.
(F) Except as provided in this Section 8.48.4(B), none of the Advisor and the Sub-advisor nor any of their respective its Affiliates shall be obligated generally to present any particular investment opportunity to the Company, whether contemplated in the “Investment Objectives and Criteria” section of the Prospectus or otherwise.
Appears in 1 contract
Samples: Sub Advisory Agreement (Phillips Edison Grocery Center Reit Ii, Inc.)
Investment Opportunities and Allocation. (A) The Sub-advisor shall be required to use commercially reasonable efforts to present a continuing and suitable investment program to the Company that is consistent with the investment policies and objectives of the Company. So long as the Advisor is acting in its capacity as advisor under the Advisory Agreement, each of the Advisor and the Sub-advisor will not (and will cause its Affiliates to not) (i) pursue any opportunity to acquire any Property, Loan or other Permitted Investment that fits within the Company’s strategy, or (ii) offer such Property, Loan or other Permitted Investment to a third party, in each case unless and until such opportunity is first presented to the Company. The Company shall have 30 days from the date of its receipt of a complete written offering package relating to such opportunity, customary in scope and content, to notify the Advisor or the Sub-advisor, as the case may be, of the Company’s decision as to whether or not to pursue such opportunity. If the Company fails so to notify the Advisor or the Sub-advisor, as the case may be, within such 30-day period, the Company shall be deemed to have passed on such opportunity. If the Company passes on such opportunity, then the Advisor, Sub-advisor or such Affiliate, as the case may be, may acquire the subject investment or offer the subject investment to a third party for a period of 180 days, in each case on terms and conditions (including price) that are not materially different from the terms and conditions set forth in the offering package to the Company. If at the expiration of such 180-day period, such opportunity remains available, then the provisions of this Section 8.4(A) shall once again apply to such opportunity. Notwithstanding the preceding, however, the Advisor or any Affiliate of the Advisor shall be permitted to pursue any opportunity or to offer any opportunity to a third party in respect of (1) any net leased retail, office and industrial properties or other property consistent with the investment policies of American Reality Capital Trust, Inc., (2) any commercial real estate or other real estate investments that relate to office, retail, multi-family residential, industrial and hotel property types, located primarily in the New York metropolitan area or other property consistent with the investment policies of American Realty Capital New York Recovery REIT, Inc., or (3) any investments to be made by a contemplated non-traded REIT (the “Identified REIT”) that the Advisor or any of its Affiliates has described as (a) intending to invest primarily in “power center” real estate developments, (b) being sponsored or co-sponsored by ARC (or one of its Affiliates), the acquisition services for which will be provided by an international commercial and residential real estate developer and manager (or one of its Affiliates), and (c) being the subject of an executed letter of intent or term sheet between the Advisor (or one of its Affiliates) and such international commercial and residential real estate developer and manager (or one of its Affiliates), and which has or will have as its publicly disclosed (and not subsequently revised or required to be revised under applicable securities laws) investment objectives to have less than 20% of its assets (measured by purchase price) in anchored shopping centers with purchase prices of less than $20,000,000 per property (determined once the proceeds of the offering have been fully invested).
(B) If Fund IV, Xxxxxxxx Pxxxxxxx Xxxxxx Shopping Center Fund III, L.P., Xxxxxxxx Pxxxxxxx Xxxxxx Strategic Investment Fund or Xxxxxxxx Pxxxxxxx Xxxxxx Limited Partnership presents an investment opportunity to the Company and discloses in writing that such entity is attempting to seek properties to qualify for tax deferred treatment under Section 1031 of the Code, then if the Company does not respond within 21 days, the Company shall be deemed to have passed on such investment opportunity. For clarification, developing single tenant retail or commercial properties shall not be considered to fit within the Company’s strategy.
(C) Notwithstanding the preceding, the restrictions in clauses (A) and (B) will cease to be effective upon termination of the Offering Period or, if later, the time when all equity raised during the Offering Period has been substantially invested or committed to investment.
(D) Except as provided in this Section 8.4, none of the Advisor and the Sub-advisor nor any of their respective Affiliates shall be obligated generally to present any particular investment opportunity to the Company.
Appears in 1 contract
Samples: Sub Advisory Agreement (Phillips Edison - ARC Shopping Center REIT Inc.)
Investment Opportunities and Allocation. (A) The Sub-advisor shall be required to use commercially reasonable efforts to present a continuing and suitable investment program opportunities to the Company that is are consistent with the investment policies and objectives of the Company. Company set forth in the “Investment Objectives and Criteria” section of the Prospectus.
(B) So long as the Advisor Sub-advisor is acting in its capacity as sub-advisor under the Advisory this Agreement, each of the Advisor and the Sub-advisor will not (and will cause its Affiliates to not) (i) pursue any opportunity to acquire a Primary Target Investment from any Property, Loan or other Permitted Investment that fits within the Company’s strategythird-party, or (ii) offer such Property, Loan act as a finder’s agent for or other Permitted otherwise source the opportunity to acquire a Primary Target Investment to for a third party, in party (each case unless and until such opportunity is in clause (i) or (ii) being a “First Offer Opportunity”) without first presented offering such First Offer Opportunity to the CompanyCompany in writing (the “Offer Notice”). The Offer Notice shall set forth the terms on which the seller is willing to sell such First Offer Opportunity together with any other material details customarily set forth in the acquisition materials for an asset similar to the asset that is the subject of the First Offer Opportunity. The Company shall have 30 days from the date of its receipt of a complete written offering package relating to such opportunity, customary in scope and content, the Offer Notice to notify the Advisor or the Sub-advisor, as the case may be, advisor of the Company’s 's decision as to whether or not to pursue such opportunityFirst Offer Opportunity. If the Company fails so to notify the Advisor or the Sub-advisor, as the case may be, advisor of its election within such 30-day period, then the Company shall be deemed to have passed on rejected such opportunityFirst Offer Opportunity. If the Company passes on rejects (or is deemed to have rejected) such opportunityFirst Offer Opportunity, then the Advisor, Sub-advisor and/or any of its Affiliates shall be free to pursue such First Offer Opportunity (on its own or such Affiliatewith other third-party investors), as the case may be, may acquire the subject investment or offer the subject investment such First Offer Opportunity to a third party third-party, in each case, for a period of 180 days, in each case days on terms and conditions (including price) that are not materially different from the terms and conditions set forth in the offering package Offer Notice to the Company. If If, at the expiration of such 180-day period, such opportunity remains availableFirst Offer Opportunity is not the subject of a binding contract or letter of intent, then the provisions of this Section 8.4(A8.4(B) shall once again apply to such opportunityFirst Offer Opportunity. Notwithstanding For the precedingavoidance of doubt, however, this Section 8.4(B) shall only apply to the Advisor or any Affiliate acquisition of the Advisor shall be permitted to pursue any opportunity or to offer any opportunity to a third Primary Target Investment being sold by a party in respect of (1) any net leased retail, office and industrial properties or other property consistent unaffiliated with the investment policies Sub-advisor and its Affiliates and shall not be interpreted or construed as applying to the sale or disposition of American Reality Capital Trust, Inc., (2) any commercial real estate or other real estate investments that relate to office, retail, multiPrimary Target Investment by the Sub-family residential, industrial and hotel property types, located primarily in the New York metropolitan area or other property consistent with the investment policies of American Realty Capital New York Recovery REIT, Inc., or (3) any investments to be made by a contemplated non-traded REIT (the “Identified REIT”) that the Advisor advisor or any of its Affiliates has described as (a) intending to invest primarily in “power center” real estate developments, (b) being sponsored or co-sponsored by ARC (or one of its Affiliates), the acquisition services for which will be provided by an international commercial and residential real estate developer and manager (or one of its Affiliates), and (c) being the subject of an executed letter of intent or term sheet between the Advisor (or one of its Affiliates) and such international commercial and residential real estate developer and manager (or one of its Affiliates), and which has or will have as its publicly disclosed (and not subsequently revised or required to be revised under applicable securities laws) investment objectives to have less than 20% of its assets (measured by purchase price) in anchored shopping centers with purchase prices of less than $20,000,000 per property (determined once the proceeds of the offering have been fully invested).
(B) If Fund IV, Xxxxxxxx Xxxxxx Shopping Center Fund III, L.P., Xxxxxxxx Xxxxxx Strategic Investment Fund or Xxxxxxxx Xxxxxx Limited Partnership presents an investment opportunity to the Company and discloses in writing that such entity is attempting to seek properties to qualify for tax deferred treatment under Section 1031 of the Code, then if the Company does not respond within 21 days, the Company shall be deemed to have passed on such investment opportunity. For clarification, developing single tenant retail or commercial properties shall not be considered to fit within the Company’s strategy.
(C) Notwithstanding anything to the precedingcontrary in this Agreement, the restrictions right of first offer set forth in clauses Section 8.4(B) shall not apply to: (Ai) the acquisition of any Primary Target Investment by an Affiliate of the Sub-advisor from another Affiliate of the Sub-advisor; and (Bii) will the offer of the opportunity to acquire a Primary Target Investment by an Affiliate of the Sub-advisor to Xxxxxxxx Xxxxxx - ARC Shopping Center REIT Inc., except as contemplated in the Investment Allocation Agreement by and among the Company, the Sub-advisor and Xxxxxxxx Xxxxxx - ARC Shopping Center REIT Inc. dated as of the date of this Agreement.
(D) This Section 8.4 shall terminate and cease to be effective upon (i) any termination of this Agreement or (ii) the later of (y) termination of the Offering Period or, if later, and (z) the time when date on which all equity raised during the Offering Period has been substantially invested or committed to investment.
(DE) The Company is a third-party beneficiary of the terms and conditions of this Section 8.4 and shall have the right to directly enforce such provisions against the Sub-advisor.
(F) Except as provided in this Section 8.48.4(B), none of the Advisor and the Sub-advisor nor any of their respective its Affiliates shall be obligated generally to present any particular investment opportunity to the Company, whether contemplated in the “Investment Objectives and Criteria” section of the Prospectus or otherwise.
Appears in 1 contract
Samples: Sub Advisory Agreement (Phillips Edison - ARC Grocery Center REIT II, Inc.)
Investment Opportunities and Allocation. (A) The Sub-advisor shall be required to use commercially reasonable efforts to present a continuing and suitable investment program opportunities to the Company that is are consistent with the investment policies and objectives of the Company. Company set forth in the “Investment Objectives and Criteria” section of the Prospectus.
(B) So long as the Advisor Sub-advisor is acting in its capacity as sub-advisor under the Advisory this Agreement, each of the Advisor and the Sub-advisor will not (and will cause its Affiliates to not) (i) pursue any opportunity to acquire a Primary Target Investment from any Property, Loan or other Permitted Investment that fits within the Company’s strategythird-party, or (ii) offer such Property, Loan act as a finder’s agent for or other Permitted otherwise source the opportunity to acquire a Primary Target Investment to for a third party, in party (each case unless and until such opportunity is in clause (i) or (ii) being a “First Offer Opportunity”) without first presented offering such First Offer Opportunity to the CompanyCompany in writing (the “Offer Notice”). The Offer Notice shall set forth the terms on which the seller is willing to sell such First Offer Opportunity together with any other material details customarily set forth in the acquisition materials for an asset similar to the asset that is the subject of the First Offer Opportunity. The Company shall have 30 days from the date of its receipt of a complete written offering package relating to such opportunity, customary in scope and content, the Offer Notice to notify the Advisor or the Sub-advisor, as the case may be, advisor of the Company’s 's decision as to whether or not to pursue such opportunityFirst Offer Opportunity. If the Company fails so to notify the Advisor or the Sub-advisor, as the case may be, advisor of its election within such 30-day period, then the Company shall be deemed to have passed on rejected such opportunityFirst Offer Opportunity. If the Company passes on rejects (or is deemed to have rejected) such opportunityFirst Offer Opportunity, then the Advisor, Sub-advisor and/or any of its Affiliates shall be free to pursue such First Offer Opportunity (on its own or such Affiliatewith other third-party investors), as the case may be, may acquire the subject investment or offer the subject investment such First Offer Opportunity to a third party third-party, in each case, for a period of 180 days, in each case days on terms and conditions (including price) that are not materially different from the terms and conditions set forth in the offering package Offer Notice to the Company. If If, at the expiration of such 180-day period, such opportunity remains availableFirst Offer Opportunity is not the subject of a binding contract or letter of intent, then the provisions of this Section 8.4(A8.4(B) shall once again apply to such opportunityFirst Offer Opportunity. Notwithstanding For the precedingavoidance of doubt, however, this Section 8.4(B) shall only apply to the Advisor or any Affiliate acquisition of the Advisor shall be permitted to pursue any opportunity or to offer any opportunity to a third Primary Target Investment being sold by a party in respect of (1) any net leased retail, office and industrial properties or other property consistent unaffiliated with the investment policies Sub-advisor and its Affiliates and shall not be interpreted or construed as applying to the sale or disposition of American Reality Capital Trust, Inc., (2) any commercial real estate or other real estate investments that relate to office, retail, multiPrimary Target Investment by the Sub-family residential, industrial and hotel property types, located primarily in the New York metropolitan area or other property consistent with the investment policies of American Realty Capital New York Recovery REIT, Inc., or (3) any investments to be made by a contemplated non-traded REIT (the “Identified REIT”) that the Advisor advisor or any of its Affiliates has described as (a) intending to invest primarily in “power center” real estate developments, (b) being sponsored or co-sponsored by ARC (or one of its Affiliates), the acquisition services for which will be provided by an international commercial and residential real estate developer and manager (or one of its Affiliates), and (c) being the subject of an executed letter of intent or term sheet between the Advisor (or one of its Affiliates) and such international commercial and residential real estate developer and manager (or one of its Affiliates), and which has or will have as its publicly disclosed (and not subsequently revised or required to be revised under applicable securities laws) investment objectives to have less than 20% of its assets (measured by purchase price) in anchored shopping centers with purchase prices of less than $20,000,000 per property (determined once the proceeds of the offering have been fully invested).
(B) If Fund IV, Xxxxxxxx Xxxxxx Shopping Center Fund III, L.P., Xxxxxxxx Xxxxxx Strategic Investment Fund or Xxxxxxxx Xxxxxx Limited Partnership presents an investment opportunity to the Company and discloses in writing that such entity is attempting to seek properties to qualify for tax deferred treatment under Section 1031 of the Code, then if the Company does not respond within 21 days, the Company shall be deemed to have passed on such investment opportunity. For clarification, developing single tenant retail or commercial properties shall not be considered to fit within the Company’s strategy.
(C) Notwithstanding anything to the precedingcontrary in this Agreement, the restrictions right of first offer set forth in clauses Section 8.4(B) shall not apply to: (Ai) the acquisition of any Primary Target Investment by an Affiliate of the Sub-advisor from another Affiliate of the Sub-advisor; and (Bii) will the offer of the opportunity to acquire a Primary Target Investment by an Affiliate of the Sub-advisor to Pxxxxxxx Xxxxxx – ARC Shopping Center REIT Inc., except as contemplated in the Investment Allocation Agreement by and among the Company, the Sub-advisor and Pxxxxxxx Xxxxxx – ARC Shopping Center REIT Inc. dated as of the date of this Agreement.
(D) This Section 8.4 shall terminate and cease to be effective upon (i) any termination of this Agreement or (ii) the later of (y) termination of the Offering Period or, if later, and (z) the time when date on which all equity raised during the Offering Period has been substantially invested or committed to investment.
(DE) The Company is a third-party beneficiary of the terms and conditions of this Section 8.4 and shall have the right to directly enforce such provisions against the Sub-advisor.
(F) Except as provided in this Section 8.48.4(B), none of the Advisor and the Sub-advisor nor any of their respective its Affiliates shall be obligated generally to present any particular investment opportunity to the Company, whether contemplated in the “Investment Objectives and Criteria” section of the Prospectus or otherwise.
Appears in 1 contract
Samples: Sub Advisory Agreement (Phillips Edison - ARC Grocery Center REIT II, Inc.)