iStar Representative Clause Samples

iStar Representative. (i) For so long as iStar Financial Inc. (“iStar”) or one of its controlled Affiliates owns shares of Series E Preferred Stock or Series E Preferred Partnership Units, iStar shall hereby be designated as the “iStar Representative.” Each initial and subsequent transferee of shares of Series E Preferred Stock or Series E Preferred Partnership Units originally held by iStar (the “iStar Group Shares” and the holders thereof the “iStar Group Holders”) shall, without further act of the General Partner, the Partnership or of any stockholder of the General Partner or partner of the Partnership, be deemed to have approved the designation of iStar as the “iStar Representative,” and without further act of the General Partner, the Partnership or of any stockholder of the General Partner or partner of the Partnership, the “iStar Representative” is hereby appointed as agent and attorney-in-fact for each iStar Group Holder, for and on behalf of each iStar Group Holder, to (i) receive any request from the General Partner or the Partnership for a consent, waiver or approval under this Designation of Series E Preferred Partnership Units or the Series E Preferred Articles Supplementary from the iStar Group Holders; (ii) deliver to the General Partner and the Partnership any instrument evidencing such iStar Group Holder’s assent to a request of the General Partner or the Partnership described in subclause (i); and (iii) to take other actions required to be taken by the Representatives under this Designation of Series E Preferred Partnership Units or the Series E Articles Supplementary. Each iStar Group Holder hereby agrees to receive correspondence from the iStar Representative, including in electronic form. In iStar’s sole discretion, iStar may designate a new “iStar Representative” by delivering written notice of such designation to the General Partner and the BREDS Representative and, upon receipt of such written notice and an acknowledgment from such Person of its desire to serve as the “iStar Representative,” such Person shall automatically be appointed the “iStar Representative” without further act of the General Partner, the Partnership or of any stockholder of the General Partner or partner of the Partnership. (ii) The iStar Representative shall incur no liability to the General Partner, the Partnership, the iStar Group Holders or any other stockholder of the General Partner or partner of the Partnership with respect to any act or omission of the iStar Representative, ...