Common use of Obligations of Manager Clause in Contracts

Obligations of Manager. (a) The Manager shall require each seller or transferor of Investments to the Company to make such representations and warranties regarding such Investments as may, in the judgment of the Manager, be necessary and appropriate. In addition, the Manager shall take such other action as it deems necessary or appropriate with regard to the protection of the Company's Investments and other assets. (b) The Manager shall refrain from any action that would adversely affect the status of the Company as a real estate investment trust or exempt from regulations under the Investment Company Act or that, in its sole judgment made in good faith, would violate any law, rule or regulation of any governmental body or agency having jurisdiction over the Company or any Subsidiary or that would otherwise not be permitted by the Company's or Subsidiary's Governing Instruments. If the Manager is ordered 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 violate any such law, rule or regulation or the Governing Instruments. Notwithstanding the foregoing, the Manager, its directors, officers, stockholders and employees shall not be liable to the Company, any Subsidiary, the Independent Directors, or the Company's or a Subsidiary's stockholders or partners for any act or omission by the Manager, its directors, officers, stockholders or employees except as provided in Section 11 of this Agreement. (c) Absent written direction from the Board of Directors, the Manager shall use reasonable efforts to comply with the Guidelines, as they may be revised from time to time.

Obligations of Manager. (a) The Manager shall require each seller or transferor of Investments assets to be acquired by the Company to make such representations and warranties regarding such Investments assets as may be directed by the Board of Directors, or, if no such directions are given, as may, in the judgment of the Manager, be necessary and appropriate. In addition, the Manager shall take such other action as may be directed by the Board of Directors, or, if no such directions are given, as it deems necessary or appropriate with regard to the protection of the Company's Investments and other assets. (b) The Manager shall refrain from any action that that, in its sole judgment made in good faith, would adversely affect the status of the Company ICCMIC as a real estate investment trust REIT, or as exempt from regulations regulation under the Investment Company Act or that, in its sole judgment made in good faith, would violate any law, rule or regulation of any governmental body or agency having jurisdiction over the Company or any Subsidiary of its Subsidiaries or that would otherwise not be permitted by the Company's or Subsidiary's their respective Governing Instruments. If the Manager is ordered 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 violate any such law, rule or regulation or the Governing Instruments. Notwithstanding the foregoing, the Manager, its directors, officers, stockholders and employees shall not be liable to the Company, Company or any Subsidiaryof its Subsidiaries, the Independent Directors, or the CompanyICCMIC's or a Subsidiary's any of its subsidiaries' stockholders or partners for any act or omission by the Manager, its directors, officers, stockholders or employees except as provided in Section 11 of this Agreement. (c) Absent written direction from the Board of Directors, the Manager shall use reasonable efforts to comply with the Guidelines, as they may be revised from time to time.

Obligations of Manager. (a) The Manager shall require each seller borrower or transferor lessee of Investments to the Company to make such representations and warranties regarding the applicable facilities financed by the Company as may be directed by the Board of Directors, or, if no such Investments directions are given, as may, in the judgment of the Manager, be necessary and appropriate. In addition, the Manager shall take such other action as may be directed by the Board of Directors, or, if no such directions are given, as it deems necessary or appropriate with regard to the protection of the Company's Investments and other assets. (b) The Manager shall refrain from any action that that, in its sole judgment made in good faith, would adversely affect the status of the Company as a real estate investment trust REIT, or as exempt from regulations regulation under the Investment Company Act or that, in its sole judgment made in good faith, would violate any law, rule or regulation of any governmental body or agency having jurisdiction over the Company or any Subsidiary of its Subsidiaries or that would otherwise not be permitted by the Company's or Subsidiary's their respective Governing Instruments. If the Manager is ordered 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 violate any such law, rule or regulation or the Governing Instruments. Notwithstanding the foregoing, the Manager, its directors, officers, stockholders and employees shall not be liable to the Company, Company or any Subsidiaryof its Subsidiaries, the Independent Directors, or the Company's or a Subsidiary's any of its Subsidiaries' stockholders or partners for any act or omission by the Manager, its directors, officers, stockholders or employees except as provided in Section 11 of this Agreement. (c) Absent written direction from the Board of Directors, the Manager shall use reasonable efforts to comply with the Guidelines, as they may be revised from time to time.