Common use of Records; Confidentiality Clause in Contracts

Records; Confidentiality. (a) The Manager shall maintain appropriate books of accounts and records relating to services performed hereunder, and such books of account and records shall be accessible for inspection by representatives of the Trust or any Subsidiary at any time during normal business hours upon reasonable advance notice. The Manager shall keep confidential any and all non-public information, written or oral, obtained by it in connection with the services rendered hereunder (“Confidential Information”) and shall not use Confidential Information except in furtherance of its duties under this Agreement or disclose Confidential Information, in whole or in part, to any Person other than (1) to its Affiliates, managers, officers, trustees, directors, employees, members, agents, representatives or advisors who need to know such Confidential Information for the purpose of rendering services hereunder, (2) to appraisers, financing sources and others in the ordinary course of the Trust’s and any Subsidiary’s business ((1) and (2) collectively, “Manager Permitted Disclosure Parties”), (3) in connection with any governmental or regulatory filings of the Trust or any Subsidiary or disclosure or presentations to Trust investors, (4) to governmental officials having jurisdiction over the Trust, (5) as required by law or legal process to which the Manager or any Person to whom disclosure is permitted hereunder is a party, or (6) with the consent of the Board of Trustees. The Manager agrees to inform each of its Manager Permitted Disclosure Parties of the non-public nature of the Confidential Information and to direct such Persons to treat such Confidential Information in accordance with the terms hereof. Nothing herein shall prevent the Manager from disclosing Confidential Information (1) upon the order of any court or administrative agency, (2) upon the request or demand of, or pursuant to any law or regulation, any regulatory agency or authority, (3) to the extent reasonably required in connection with the exercise of any remedy hereunder, or (4) to its legal counsel or independent auditors; provided, however, that with respect to clauses (1) and (2), it is agreed that the Manager will provide the Trust and the Operating Partnership with prompt written notice of such order, request or demand so that the Trust and the Operating Partnership may seek an appropriate protective order and/or waive the Manager’s compliance with the provisions of this Agreement. If, failing the entry of a protective order or the receipt of a waiver hereunder, the Manager is, in the opinion of counsel, required to disclose Confidential Information, the Manager may disclose only that portion of such information that its counsel advises is legally required without liability hereunder; provided, that the Manager agrees to exercise its best efforts to obtain reliable assurance that confidential treatment will be accorded such information. Notwithstanding anything herein to the contrary, each of the following shall be deemed to be excluded from the provisions hereof: any Confidential Information that (A) is available to the public from a source other than the Manager, (B) is released in writing by the Trust to the public or to Persons who are not under similar obligation of confidentiality to the Trust and the Subsidiaries, or (C) is obtained by the Manager from a third party without breach by such third party of an obligation of confidence with respect to the Confidential Information disclosed. (b) Each of the Trust and the Operating Partnership shall keep confidential, and shall cause any other Subsidiary to keep confidential, any and all Confidential Information and shall not use, and shall cause any other Subsidiary not to use, Confidential Information except in furtherance of the terms of this Agreement or disclose Confidential Information, in whole or in part, to any Person other than (1) to its Affiliates, officers, trustees, directors, employees, members, agents, representatives or advisors who need to know such Confidential Information for the purpose of fulfilling the Trust’s and the Operating Partnership’s obligations hereunder (collectively, “Trust Permitted Disclosure Parties”), (2) as required by law or legal process to which the Trust or any Subsidiary or any Person to whom disclosure is permitted hereunder is a party, or (3) with the consent of the Manager. Each of the Trust and the Operating Partnership agrees to (1) inform each of its Trust Permitted Disclosure Parties of the non-public nature of the Confidential Information and to direct such Persons to treat such Confidential Information in accordance with the terms hereof and (2) not disclose any Confidential Information to its Trust Permitted Disclosure Parties upon the termination of this Agreement in accordance with Section 11 hereof. Nothing herein shall prevent the Trust or any Subsidiary from disclosing Confidential Information (1) upon the order of any court or administrative agency, (2) upon the request or demand of, or pursuant to any law or regulation, any regulatory agency or authority, (3) to the extent reasonably required in connection with the exercise of any remedy hereunder, or (4) to its legal counsel or independent auditors; provided, however, that with respect to clauses (1) and (2), it is agreed that the Trust and the Operating Partnership will provide the Manager with prompt written notice of such order, request or demand so that the Manager may seek an appropriate protective order and/or waive the Trust’s and the Operating Partnership’s compliance with the provisions of this Section. If, failing the entry of a protective order or the receipt of a waiver hereunder, the Trust or any Subsidiary is, in the opinion of counsel, required to disclose Confidential Information, the Trust or such Subsidiary may disclose only that portion of such information that its counsel advises is legally required without liability hereunder; provided, that each of the Trust and the Operating Partnership shall exercise, and shall cause any other Subsidiary to exercise, its best efforts to obtain reliable assurance that confidential treatment will be accorded such information. Notwithstanding anything herein to the contrary, each of the following shall be deemed to be excluded from the provisions hereof: any Confidential Information that (A) is available to the public from a source other than the Trust or any Subsidiary, (B) is released in writing by the Manager to the public or to Persons who are not under similar obligation of confidentiality to the Manager, or (C) is obtained by the Trust or any Subsidiary from a third party without breach by such third party of an obligation of confidence with respect to the Confidential Information disclosed. For the avoidance of doubt, information about the systems, employees, policies, procedures and investment portfolio (other than investments in which the Trust or any Subsidiary and the Manager have co-invested) shall be deemed to be included within the meaning of “Confidential Information” for purposes of the Trust’s and the Subsidiaries’ obligations pursuant to this Section 6(b). (c) The provisions of this Section 6 shall survive the expiration or earlier termination of this Agreement for a period of one year.

Records; Confidentiality. (a) The Manager shall maintain appropriate books of accounts and records relating to services performed hereunder, and such books of account and records shall be accessible for inspection by representatives of the Trust Company or any Subsidiary at any time during normal business hours upon reasonable advance noticehours. The Manager shall keep confidential any and all non-public information, written or oral, obtained by it in connection with the services rendered hereunder (“Confidential Information”) and shall not use Confidential Information except in furtherance of its duties under this Agreement or disclose Confidential Information, in whole or in part, to any Person other than (1i) to its Affiliates, managers, officers, trustees, directors, employees, members, agents, representatives or advisors who need to know such Confidential Information for the purpose of rendering services hereunder, (2ii) to appraisers, financing sources and others in the ordinary course of the Trust’s and any SubsidiaryCompany’s business ((1i) and (2ii) collectively, “Manager Permitted Disclosure Parties”), (3iii) in connection with any governmental or regulatory filings of the Trust or any Subsidiary Company or disclosure or presentations to Trust Company investors, (4iv) to governmental officials having jurisdiction over the TrustCompany, (5v) as required requested by law or legal process to which the Manager or any Person to whom disclosure is permitted hereunder is a party, or (6vi) with the consent of the Board of TrusteesCompany. The Manager agrees to inform each of its Manager Permitted Disclosure Parties of the non-public nature of the Confidential Information and to direct such Persons to treat such Confidential Information in accordance with the terms hereof. Nothing herein shall prevent the Manager from disclosing Confidential Information (1i) upon the order of any court or administrative agency, (2ii) upon the request or demand of, or pursuant to any law or regulation, any regulatory agency or authority, (3iii) to the extent reasonably required in connection with the exercise of any remedy hereunder, or (4iv) to its legal counsel or independent auditors; provided, however, however that with respect to clauses (1i) and (2ii), it is agreed that that, so long as not legally prohibited, the Manager will provide the Trust and the Operating Partnership Company with prompt written notice of such order, request or demand so that the Trust and the Operating Partnership Company may seek seek, at its sole expense, an appropriate protective order and/or waive the Manager’s compliance with the provisions of this Agreement. If, failing the entry of a protective order or the receipt of a waiver hereunder, the Manager is, in the opinion of counsel, is required to disclose Confidential Information, the Manager may disclose only that portion of such information that its counsel advises is legally required without liability hereunder; provided, that the Manager agrees to exercise its reasonable best efforts to obtain reliable assurance that confidential treatment will be accorded such information. Notwithstanding anything herein to the contrary, each of the following shall be deemed to be excluded from the provisions hereof: any Confidential Information that (A) is available to the public from a source other than the Manager, (B) is released in writing by the Trust Company to the public or to Persons persons who are not under similar obligation of confidentiality to the Trust and the SubsidiariesCompany, or (C) is obtained by the Manager from a third third-party without which, to the best of the Manager’s knowledge, does not constitute a breach by such third third-party of an obligation of confidence with respect to the Confidential Information disclosed. The provisions of this Agreement shall survive the expiration or earlier termination of this Agreement for a period of one year. (b) Each of the Trust and the Operating Partnership The Company shall keep confidential, and shall cause any other Subsidiary to keep confidential, confidential any and all Confidential Information and shall not use, and shall cause any other Subsidiary not to use, use Confidential Information except in furtherance of the terms of this Agreement or disclose Confidential Information, in whole or in part, to any Person other than (1i) to its Affiliates, officers, trustees, directors, employees, members, agents, representatives officers or advisors directors who need to know such Confidential Information for the purpose of fulfilling the Trust’s and the Operating PartnershipCompany’s obligations hereunder (collectively, “Trust Company Permitted Disclosure Parties”), (2ii) as required requested by law or legal process to which the Trust or any Subsidiary Company or any Person to whom disclosure is permitted hereunder is a party, or (3iii) with the consent of the Manager. Each of the Trust and the Operating Partnership The Company agrees to (1i) inform each of its Trust Company Permitted Disclosure Parties of the non-public nature of the Confidential Information and to direct such Persons to treat such Confidential Information in accordance with the terms hereof and (2ii) not disclose any Confidential Information to its Trust Company Permitted Disclosure Parties upon the termination expiration or nonrenewal of this Agreement in accordance with Section 11 hereof10. Nothing herein shall prevent the Trust or any Subsidiary Company from disclosing Confidential Information (1i) upon the order of any court or administrative agency, (2ii) upon the request or demand of, or pursuant to any law or regulation, any regulatory agency or authority, (3iii) to the extent reasonably required in connection with the exercise of any remedy hereunder, or (4iv) to its legal counsel or independent auditors; provided, however, however that with respect to clauses (1i) and (2ii), it is agreed that that, so long as not legally prohibited, the Trust and the Operating Partnership Company will provide the Manager with prompt written notice of such order, request or demand so that the Manager may seek seek, at its sole expense, an appropriate protective order and/or waive the Trust’s and the Operating PartnershipCompany’s compliance with the provisions of this SectionAgreement. If, failing the entry of a protective order or the receipt of a waiver hereunder, the Trust or any Subsidiary is, in the opinion of counsel, Company is required to disclose Confidential Information, the Trust or such Subsidiary Company may disclose only that portion of such information that its counsel advises is legally required without liability hereunder; provided, that each of the Trust and the Operating Partnership shall exercise, and shall cause any other Subsidiary Company agrees to exercise, exercise its reasonable best efforts to obtain reliable assurance that confidential treatment will be accorded such information. Notwithstanding anything herein to the contrary, each of the following shall be deemed to be excluded from the provisions hereof: any Confidential Information that (A) is available to the public from a source other than the Trust or any SubsidiaryCompany, (B) is released in writing by the Manager to the public or to Persons persons who are not under similar obligation of confidentiality to the Manager, or (C) is obtained by the Trust or any Subsidiary Company from a third third-party without which, to the best of the Company’s knowledge, does not constitute breach by such third third-party of an obligation of confidence with respect to the Confidential Information disclosed. For the avoidance of doubt, information about the systems, employees, policies, procedures and investment portfolio (other than investments in which the Trust or any Subsidiary Company and the Manager have co-invested) shall be deemed to be included within the meaning of “Confidential Information” for purposes of the TrustCompany’s and the Subsidiaries’ obligations pursuant to this Section 6(b5(b). (c) The provisions of this Section 6 shall survive the expiration or earlier termination of this Agreement for a period of one year.

Records; Confidentiality. (a) The Manager shall maintain appropriate books of accounts and records relating to services performed hereunder, and such books of account and records shall be accessible for inspection by representatives of the Trust Company or any Subsidiary at any time during normal business hours upon reasonable advance noticehours. The Manager shall keep confidential any and all non-public information, written or oral, obtained by it in connection with the services rendered hereunder (“Confidential Information”) and shall not use Confidential Information except in furtherance of its duties under this Agreement or disclose Confidential Information, in whole or in part, to any Person other than (1i) to its Affiliates, managers, officers, trustees, directors, employees, members, agents, representatives or advisors who need to know such Confidential Information for the purpose of rendering services hereunder, (2ii) to appraisers, financing sources and others in the ordinary course of the Trust’s and any SubsidiaryCompany’s business ((1i) and (2ii) collectively, “Manager Permitted Disclosure Parties”), (3iii) in connection with any governmental or regulatory filings of the Trust Company, or any Subsidiary filings with NASDAQ or other applicable securities exchanges or markets, or disclosure or presentations to Trust investorsCompany investors (subject to compliance with Regulation FD), (4iv) to governmental officials having jurisdiction over the TrustCompany, (5v) as required requested by law or legal process to which the Manager or any Person to whom disclosure is permitted hereunder is a party, or (6vi) with the consent of the Board of TrusteesCompany. The Manager agrees to inform each of its Manager Permitted Disclosure Parties of the non-public nature of the Confidential Information and to direct obtain agreement from such Persons to treat such Confidential Information in accordance with the terms hereof. . (b) Nothing herein shall prevent the any Manager Permitted Disclosure Party from disclosing Confidential Information (1i) upon the order of any court or administrative agency, (2ii) upon the request or demand of, or pursuant to any law or regulationregulation to, any regulatory agency or authority, (3iii) to the extent reasonably required in connection with the exercise of any remedy hereunder, or (4iv) to its legal counsel or independent auditors; provided, however, however that with respect to clauses (1i) and (2ii), it is agreed that that, so long as not legally prohibited, the Manager will provide the Trust and the Operating Partnership Company with prompt written notice of such order, request or demand so that the Trust and the Operating Partnership Company may seek seek, at its sole expense, an appropriate protective order and/or waive the Manager’s Manager Permitted Disclosure Party compliance with the provisions of this Agreement. If, failing the entry of a protective order or the receipt of a waiver hereunder, the Manager is, in the opinion of counsel, Permitted Disclosure Party is required to disclose Confidential Information, the Manager Permitted Disclosure Party may disclose only that portion of such information that its counsel advises is legally required without liability hereunder; provided, that the Manager Permitted Disclosure Party agrees to exercise its best commercially reasonable efforts to obtain reliable assurance that confidential treatment will be accorded such information. . (c) Notwithstanding anything herein to the contrary, each of the following shall be deemed to be excluded from the provisions hereof: any Confidential Information that (A) is available to the public from a source other than the Manager, (B) is released in writing by the Trust Company to the public (except to the extent exempt under Regulation FD) or to Persons persons who are not under similar obligation of confidentiality to the Trust and the SubsidiariesCompany, or (C) is obtained by the Manager from a third third-party without which, to the best of the Manager’s knowledge, does not constitute a breach by such third party of an obligation of confidence with respect to the Confidential Information disclosed. (b) Each of the Trust and the Operating Partnership shall keep confidential, and shall cause any other Subsidiary to keep confidential, any and all Confidential Information and shall not use, and shall cause any other Subsidiary not to use, Confidential Information except in furtherance of the terms of this Agreement or disclose Confidential Information, in whole or in part, to any Person other than (1) to its Affiliates, officers, trustees, directors, employees, members, agents, representatives or advisors who need to know such Confidential Information for the purpose of fulfilling the Trust’s and the Operating Partnership’s obligations hereunder (collectively, “Trust Permitted Disclosure Parties”), (2) as required by law or legal process to which the Trust or any Subsidiary or any Person to whom disclosure is permitted hereunder is a party, or (3) with the consent of the Manager. Each of the Trust and the Operating Partnership agrees to (1) inform each of its Trust Permitted Disclosure Parties of the nonthird-public nature of the Confidential Information and to direct such Persons to treat such Confidential Information in accordance with the terms hereof and (2) not disclose any Confidential Information to its Trust Permitted Disclosure Parties upon the termination of this Agreement in accordance with Section 11 hereof. Nothing herein shall prevent the Trust or any Subsidiary from disclosing Confidential Information (1) upon the order of any court or administrative agency, (2) upon the request or demand of, or pursuant to any law or regulation, any regulatory agency or authority, (3) to the extent reasonably required in connection with the exercise of any remedy hereunder, or (4) to its legal counsel or independent auditors; provided, however, that with respect to clauses (1) and (2), it is agreed that the Trust and the Operating Partnership will provide the Manager with prompt written notice of such order, request or demand so that the Manager may seek an appropriate protective order and/or waive the Trust’s and the Operating Partnership’s compliance with the provisions of this Section. If, failing the entry of a protective order or the receipt of a waiver hereunder, the Trust or any Subsidiary is, in the opinion of counsel, required to disclose Confidential Information, the Trust or such Subsidiary may disclose only that portion of such information that its counsel advises is legally required without liability hereunder; provided, that each of the Trust and the Operating Partnership shall exercise, and shall cause any other Subsidiary to exercise, its best efforts to obtain reliable assurance that confidential treatment will be accorded such information. Notwithstanding anything herein to the contrary, each of the following shall be deemed to be excluded from the provisions hereof: any Confidential Information that (A) is available to the public from a source other than the Trust or any Subsidiary, (B) is released in writing by the Manager to the public or to Persons who are not under similar obligation of confidentiality to the Manager, or (C) is obtained by the Trust or any Subsidiary from a third party without breach by such third party of an obligation of confidence with respect to the Confidential Information disclosed. For the avoidance of doubt, information about the systems, employees, policies, procedures and investment portfolio (other than investments in which the Trust or any Subsidiary and the Manager have co-invested) shall be deemed to be included within the meaning of “Confidential Information” for purposes of the Trust’s and the Subsidiaries’ obligations pursuant to this Section 6(b). (c) The provisions of this Section 6 Agreement shall survive the expiration or earlier termination of this Agreement for a period of one year.

Records; Confidentiality. (a) The Manager shall maintain appropriate books of accounts and records relating to services performed hereunder, and such books of account and records shall be accessible for inspection by representatives of the Trust or any Subsidiary Company Entities at any time during normal business hours upon reasonable advance noticehours. The Manager shall keep confidential any and all non-public information, written or oral, obtained by it in connection with the services rendered hereunder (“Confidential Information”) and shall not use Confidential Information except in furtherance of its duties under this Agreement or disclose Confidential Information, in whole or in part, to any Person other than (1i) to its Affiliates, managers, Affiliates and the officers, trustees, directors, employees, members, agents, representatives or advisors of the Manager or any of its Affiliates who need to know such Confidential Information for the purpose of rendering services hereunder, (2ii) to appraisers, financing sources and others in the ordinary course of the Trust’s and any SubsidiaryCompany’s business ((1i) and (2ii) collectively, “Manager Permitted Disclosure Parties”), (3iii) in connection with any governmental or regulatory filings of the Trust Company, or any Subsidiary filings with the NYSE MKT or disclosure other applicable securities exchange or presentations to Trust investorsmarket, (4iv) in presentations or other disclosures to the Company’s investors (subject to compliance with Regulation FD), (iv) to governmental officials having jurisdiction over the TrustCompany, (5v) as required by law or legal process to which the Manager or any Person to whom disclosure is permitted hereunder is a party, or (6vi) with the consent of the Board of TrusteesCompany. The Manager agrees to will inform each of its Manager Permitted Disclosure Parties of the non-public nature of the Confidential Information and to direct obtain agreement from such Persons to treat such Confidential Information in accordance with the terms hereof. . (b) Nothing herein shall prevent the any Manager Permitted Disclosure Party from disclosing Confidential Information (1i) upon the order of any court or administrative agency, (2ii) upon the request or demand of, or pursuant to any law or regulationregulation to, any regulatory agency or authority, (3iii) to the extent reasonably required in connection with the exercise of any remedy hereunder, or (4iv) to its legal counsel or independent auditors; provided, however, that with respect to clauses (1i) and (2ii), it is agreed that that, so long as not legally prohibited, the Manager will provide the Trust and the Operating Partnership PAC with prompt written notice of such order, request or demand so that the Trust and the Operating Partnership PAC may seek seek, at its sole expense, an appropriate protective order and/or waive the Managerany Manager Permitted Disclosure Party’s compliance with the provisions of this Agreement. If, failing the entry of a protective order or the receipt of a waiver hereunder, the Manager is, in the opinion of counsel, is required to disclose Confidential Information, the Manager Permitted Disclosure Party may disclose only that portion of such information that its counsel advises is legally required without liability hereunder; provided, however, that the Manager Permitted Disclosure Party agrees to exercise its best commercially reasonable efforts to obtain reliable assurance that confidential treatment will be accorded such information. . (c) Notwithstanding anything herein to the contrary, each of the following types of Confidential Information shall be deemed to be excluded from the provisions hereof: (i) any Confidential Information that (A) is available to the public from a source other than the ManagerManager or its Affiliates, (Bii) any Confidential Information that is released in writing by any of the Trust Company Entities to the public (except to the extent exempt under, and in compliance with, Regulation FD) or to Persons persons who are not under similar obligation of confidentiality to any of the Trust Company Entities; and the Subsidiaries, or (Ciii) any Confidential Information that is obtained by the Manager from a third party without which, to the Manager’s knowledge, does not constitute a breach by such third party of an obligation of confidence with respect to the Confidential Information disclosed. (b) Each of the Trust and the Operating Partnership shall keep confidential, and shall cause any other Subsidiary to keep confidential, any and all Confidential Information and shall not use, and shall cause any other Subsidiary not to use, Confidential Information except in furtherance of the terms of this Agreement or disclose Confidential Information, in whole or in part, to any Person other than (1) to its Affiliates, officers, trustees, directors, employees, members, agents, representatives or advisors who need to know such Confidential Information for the purpose of fulfilling the Trust’s and the Operating Partnership’s obligations hereunder (collectively, “Trust Permitted Disclosure Parties”), (2) as required by law or legal process to which the Trust or any Subsidiary or any Person to whom disclosure is permitted hereunder is a party, or (3) with the consent of the Manager. Each of the Trust and the Operating Partnership agrees to (1) inform each of its Trust Permitted Disclosure Parties of the non-public nature of the Confidential Information and to direct such Persons to treat such Confidential Information in accordance with the terms hereof and (2) not disclose any Confidential Information to its Trust Permitted Disclosure Parties upon the termination of this Agreement in accordance with Section 11 hereof. Nothing herein shall prevent the Trust or any Subsidiary from disclosing Confidential Information (1) upon the order of any court or administrative agency, (2) upon the request or demand of, or pursuant to any law or regulation, any regulatory agency or authority, (3) to the extent reasonably required in connection with the exercise of any remedy hereunder, or (4) to its legal counsel or independent auditors; provided, however, that with respect to clauses (1) and (2), it is agreed that the Trust and the Operating Partnership will provide the Manager with prompt written notice of such order, request or demand so that the Manager may seek an appropriate protective order and/or waive the Trust’s and the Operating Partnership’s compliance with the provisions of this Section. If, failing the entry of a protective order or the receipt of a waiver hereunder, the Trust or any Subsidiary is, in the opinion of counsel, required to disclose Confidential Information, the Trust or such Subsidiary may disclose only that portion of such information that its counsel advises is legally required without liability hereunder; provided, that each of the Trust and the Operating Partnership shall exercise, and shall cause any other Subsidiary to exercise, its best efforts to obtain reliable assurance that confidential treatment will be accorded such information. Notwithstanding anything herein to the contrary, each of the following shall be deemed to be excluded from the provisions hereof: any Confidential Information that (A) is available to the public from a source other than the Trust or any Subsidiary, (B) is released in writing by the Manager to the public or to Persons who are not under similar obligation of confidentiality to the Manager, or (C) is obtained by the Trust or any Subsidiary from a third party without breach by such third party of an obligation of confidence with respect to the Confidential Information disclosed. For the avoidance of doubt, information about the systems, employees, policies, procedures and investment portfolio (other than investments in which the Trust or any Subsidiary and the Manager have co-invested) shall be deemed to be included within the meaning of “Confidential Information” for purposes of the Trust’s and the Subsidiaries’ obligations pursuant to this Section 6(b). (cd) The provisions of this Section 6 shall survive the expiration or earlier termination of this Agreement for a period of one yeartwo years thereafter, provided that the parties will maintain trade secrets of the other party identified in writing as trade secrets, and which in fact constitute trade secrets, for a period of no longer than five years thereafter.

Records; Confidentiality. (a) The Manager shall maintain appropriate books of accounts and records relating to services performed hereunder, and such books of account and records shall be accessible for inspection by representatives of the Trust Company or any Subsidiary at any time during normal business hours upon reasonable advance noticehours. The Manager shall keep confidential any and all non-public information, written or oral, obtained by it in connection with the services rendered hereunder (“Company Confidential Information”) and shall not use Company Confidential Information except in furtherance of its duties under this Agreement or disclose Company Confidential Information, in whole or in part, to any Person other than (1i) to its Affiliates, managers, officers, trustees, directors, employees, members, agents, representatives or advisors who need to know such Company Confidential Information for the purpose of rendering services hereunder, (2ii) to appraisers, financing sources and others in the ordinary course of the Trust’s and any SubsidiaryCompany’s business ((1i) and (2ii) collectively, “Manager Permitted Disclosure Parties”), (3iii) in connection with any governmental or regulatory filings of the Trust or any Subsidiary Company or disclosure or presentations to Trust Company investors, (4iv) to governmental officials having jurisdiction over the TrustCompany, (5v) as required requested by law or legal process to which the Manager or any Person to whom disclosure is permitted hereunder is a party, or (6vi) with the consent of the Board of TrusteesCompany. The Manager agrees to inform each of its Manager Permitted Disclosure Parties of the non-public nature of the Company Confidential Information and to direct such Persons to treat such Company Confidential Information in accordance with the terms hereof. Nothing herein shall prevent the Manager from disclosing Company Confidential Information (1i) upon the order of any court or administrative agency, (2ii) upon the request or demand of, or pursuant to any law or regulation, any regulatory agency or authority, (3iii) to the extent reasonably required in connection with the exercise of any remedy hereunder, or (4iv) to its legal counsel or independent auditors; provided, however, however that with respect to clauses (1i) and (2ii), it is agreed that that, so long as not legally prohibited, the Manager will provide the Trust and the Operating Partnership Company with prompt written notice of such order, request or demand so that the Trust and the Operating Partnership Company may seek seek, at its sole expense, an appropriate protective order and/or waive the Manager’s compliance with the provisions of this Agreement. If, failing the entry of a protective order or the receipt of a waiver hereunder, the Manager is, in the opinion of counsel, is required to disclose Company Confidential Information, the Manager may disclose only that portion of such information that its counsel advises is legally required without liability hereunder; provided, that the Manager agrees to exercise its best commercially reasonable efforts to obtain reliable assurance that confidential treatment will be accorded such information. Notwithstanding anything herein to the contrary, each of the following shall be deemed to be excluded from the provisions hereof: any Company Confidential Information that (A) is available to the public from a source other than the Manager (not resulting from the Manager’s violation of this Section 5(a)), (B) is released in writing by the Trust Company to the public or to Persons persons who are not under similar obligation of confidentiality to the Trust and the SubsidiariesCompany, or (C) is obtained by the Manager (not resulting from the Manager’s violation of this Section 5(a)) from a third third-party without which, to the best of the Manager’s knowledge, does not constitute a breach by such third third-party of an obligation of confidence with respect to the Company Confidential Information disclosed. The provisions of this Section 5(a) shall survive the expiration or earlier termination of this Agreement for a period of one year. (b) Each of the Trust and the Operating Partnership The Company shall keep confidential, and shall cause any other Subsidiary to keep confidential, confidential any and all non-public information related to the Manager, written or oral, obtained by the Company in connection with the performance by the Company of its obligations under this Agreement (“Manager Confidential Information Information”) and shall not use, and shall cause any other Subsidiary not to use, use Manager Confidential Information except in furtherance of the terms of this Agreement or disclose Manager Confidential Information, in whole or in part, to any Person other than (1i) to its Affiliates, officers, trustees, directors, employees, members, agents, representatives officers or advisors directors who need to know such Manager Confidential Information for the purpose of fulfilling the Trust’s and the Operating PartnershipCompany’s obligations hereunder (collectively, “Trust Company Permitted Disclosure Parties”), (2ii) as required requested by law or legal process to which the Trust or any Subsidiary Company or any Person to whom disclosure is permitted hereunder is a party, or (3iii) with the consent of the Manager. Each of the Trust and the Operating Partnership The Company agrees to (1i) inform each of its Trust Company Permitted Disclosure Parties of the non-public nature of the Manager Confidential Information and to direct such Persons to treat such Manager Confidential Information in accordance with the terms hereof and (2ii) not disclose any Manager Confidential Information to its Trust Company Permitted Disclosure Parties upon the termination expiration or nonrenewal of this Agreement in accordance with Section 11 hereof10. Nothing herein shall prevent the Trust or any Subsidiary Company from disclosing Manager Confidential Information (1i) upon the order of any court or administrative agency, (2ii) upon the request or demand of, or pursuant to any law or regulation, any regulatory agency or authority, (3iii) to the extent reasonably required in connection with the exercise of any remedy hereunder, or (4iv) to its legal counsel or independent auditors; provided, however, however that with respect to clauses (1i) and (2ii), it is agreed that that, so long as not legally prohibited, the Trust and the Operating Partnership Company will provide the Manager with prompt written notice of such order, request or demand so that the Manager may seek seek, at its sole expense, an appropriate protective order and/or waive the Trust’s and the Operating PartnershipCompany’s compliance with the provisions of this SectionAgreement. If, failing the entry of a protective order or the receipt of a waiver hereunder, the Trust or any Subsidiary is, in the opinion of counsel, Company is required to disclose Manager Confidential Information, the Trust or such Subsidiary Company may disclose only that portion of such information that its counsel advises is legally required without liability hereunder; provided, that each of the Trust and the Operating Partnership shall exercise, and shall cause any other Subsidiary Company agrees to exercise, exercise its best commercially reasonable efforts to obtain reliable assurance that confidential treatment will be accorded such information. Notwithstanding anything herein to the contrary, each of the following shall be deemed to be excluded from the provisions hereof: any Manager Confidential Information that (A) is available to the public from a source other than the Trust or any SubsidiaryCompany, (B) is released in writing by the Manager to the public or to Persons persons who are not under similar obligation of confidentiality to the Manager, or (C) is obtained by the Trust or any Subsidiary Company from a third third-party without which, to the best of the Company’s knowledge, does not constitute breach by such third third-party of an obligation of confidence with respect to the Manager Confidential Information disclosed. For the avoidance of doubt, information about the systems, employees, policies, procedures and investment portfolio (other than investments in which the Trust or any Subsidiary Company and the Manager have co-invested) shall be deemed to be included within the meaning of “Manager Confidential Information” for purposes of the TrustCompany’s and the Subsidiaries’ obligations pursuant to this Section 6(b5(b). (c) The provisions of this Section 6 shall survive the expiration or earlier termination of this Agreement for a period of one year.

Records; Confidentiality. (a) The Manager shall maintain appropriate books of accounts and records relating to services performed hereunder, and such books of account and records shall be accessible for inspection by representatives of the Trust or any Subsidiary Company at any time during normal business hours upon reasonable advance notice. The Manager shall keep confidential any and all non-public information, written or oral, obtained by it in connection with the services rendered hereunder (“Confidential Information”) and shall not use Confidential Information except in furtherance of its duties under this Agreement or disclose Confidential Information, in whole or in part, to any Person other than (1a) to its Affiliates, (b) to its and its Affiliates’ members, stockholders, managers, partners, personnel, officers, trustees, directors, employees, membersconsultants, agents, representatives or advisors who need to know such Confidential Information for the purpose of rendering services hereunderInformation, (2c) to appraisers, financing sources and others in the ordinary course of the Trust’s and any SubsidiaryCompany’s business ((1a), (b) and (2c) collectively, “Manager Permitted Disclosure Parties”), (3d) in connection with any governmental or regulatory filings of the Trust or any Subsidiary Company or disclosure or presentations to Trust investorsCompany investors (subject to compliance with Regulation FD), (4e) to governmental officials having jurisdiction over the TrustCompany, (5f) as required requested by law or legal process to which the Manager or any Person to whom disclosure is permitted hereunder is a party, party or (6g) with the consent of the Board of TrusteesBoard. The Manager agrees to inform each of its Manager Permitted Disclosure Parties of the non-public nature of the Confidential Information and instruct the Manager Permitted Disclosure Parties to direct keep such Persons to treat such Confidential Information in accordance with the terms hereofinformation confidential. Nothing herein shall prevent the Manager from disclosing Confidential Information (1i) upon the order of any court or administrative agency, (2ii) upon the request or demand of, or pursuant to any law or regulationregulation to, any regulatory agency or authority, (3iii) to the extent reasonably required in connection with the exercise of any remedy hereunder, or (4iv) to its legal counsel or independent auditors; provided, however, that with respect to clauses (1i) and (2ii), it is agreed that that, so long as not legally prohibited, the Manager will provide the Trust and the Operating Partnership Company with prompt written notice of such order, request or demand so that the Trust and the Operating Partnership Company may seek seek, at its sole expense, an appropriate protective order and/or waive the Manager’s compliance with the provisions of this Agreement. If, failing the entry of a protective order or the receipt of a waiver hereunder, the Manager is, in the opinion of counsel, is required to disclose Confidential Information, the Manager may disclose only that portion of such information that its counsel advises is legally required without liability hereunder; provided, that the Manager agrees to exercise its best commercially reasonable efforts to obtain reliable assurance that confidential treatment will be accorded such information. Notwithstanding anything herein to the contrary, each of the following shall be deemed to be excluded from the provisions hereof: any Confidential Information that (A) is available to the public from a source other than the Manager, ; (B) is released in writing by the Trust Company to the public or to Persons who are not under similar obligation of confidentiality to the Trust and the Subsidiaries, Company; or (C) is obtained by the Manager from a third party without breach by such third party of an obligation of confidence with respect that, to the Confidential Information disclosed. (b) Each of the Trust and the Operating Partnership shall keep confidential, and shall cause any other Subsidiary to keep confidential, any and all Confidential Information and shall not use, and shall cause any other Subsidiary not to use, Confidential Information except in furtherance of the terms of this Agreement or disclose Confidential Information, in whole or in part, to any Person other than (1) to its Affiliates, officers, trustees, directors, employees, members, agents, representatives or advisors who need to know such Confidential Information for the purpose of fulfilling the Trust’s and the Operating Partnership’s obligations hereunder (collectively, “Trust Permitted Disclosure Parties”), (2) as required by law or legal process to which the Trust or any Subsidiary or any Person to whom disclosure is permitted hereunder is a party, or (3) with the consent best of the Manager. Each of the Trust and the Operating Partnership agrees to (1) inform each of its Trust Permitted Disclosure Parties of the non-public nature of the Confidential Information and to direct such Persons to treat such Confidential Information in accordance with the terms hereof and (2) ’s knowledge, has not disclose any Confidential Information to its Trust Permitted Disclosure Parties upon the termination of this Agreement in accordance with Section 11 hereof. Nothing herein shall prevent the Trust or any Subsidiary from disclosing Confidential Information (1) upon the order of any court or administrative agency, (2) upon the request or demand of, or pursuant to any law or regulation, any regulatory agency or authority, (3) to the extent reasonably required in connection with the exercise of any remedy hereunder, or (4) to its legal counsel or independent auditors; provided, however, that with respect to clauses (1) and (2), it is agreed that the Trust and the Operating Partnership will provide the Manager with prompt written notice of such order, request or demand so that the Manager may seek an appropriate protective order and/or waive the Trust’s and the Operating Partnership’s compliance with the provisions of this Section. If, failing the entry of a protective order or the receipt of a waiver hereunder, the Trust or any Subsidiary is, in the opinion of counsel, required to disclose Confidential Information, the Trust or such Subsidiary may disclose only that portion of such information that its counsel advises is legally required without liability hereunder; provided, that each of the Trust and the Operating Partnership shall exercise, and shall cause any other Subsidiary to exercise, its best efforts to obtain reliable assurance that confidential treatment will be accorded such information. Notwithstanding anything herein to the contrary, each of the following shall be deemed to be excluded from the provisions hereof: any Confidential Information that (A) is available to the public from a source other than the Trust or any Subsidiary, (B) is released in writing by the Manager to the public or to Persons who are not under similar obligation of confidentiality to the Manager, or (C) is obtained by the Trust or any Subsidiary from a third party without breach by such third party of breached an obligation of confidence with respect to the Confidential Information disclosed. For the avoidance of doubt, information about the systems, employees, policies, procedures and investment portfolio (other than investments in which the Trust or any Subsidiary and the Manager have co-invested) shall be deemed to be included within the meaning of “Confidential Information” for purposes of the Trust’s and the Subsidiaries’ obligations pursuant to this Section 6(b). (c) The provisions of this Section 6 5 shall survive the expiration or earlier termination of this Agreement for a period of one year.

Records; Confidentiality. (a) The Manager shall maintain appropriate books of accounts and records relating to services performed hereunder, and such books of account and records shall be accessible for inspection by representatives of the Trust or any Subsidiary Company Entities at any time during normal business hours upon reasonable advance noticehours. The Manager shall keep confidential any and all non-public information, written or oral, obtained by it in connection with the services rendered hereunder (“Confidential Information”) and shall not use Confidential Information except in furtherance of its duties under this Agreement or disclose Confidential Information, in whole or in part, to any Person other than (1i) to its Affiliates, managers, officers, trustees, directors, employees, members, agents, representatives or advisors who need to know such Confidential Information for the purpose of rendering services hereunder, (2ii) to appraisers, financing sources and others in the ordinary course of the Trust’s and any SubsidiaryCompany’s business ((1i) and (2ii) collectively, “Manager Permitted Disclosure Parties”), (3iii) in connection with any governmental or regulatory filings of the Trust Company or filings with any Subsidiary applicable Securities Exchange , market, or Listed Company Manual or disclosure or presentations to Trust investorsCompany investors (subject to compliance with Regulation FD), if applicable, (4iv) to governmental officials having jurisdiction over the TrustCompany, (5v) as required requested by law or legal process to which the Manager or any Person to whom disclosure is permitted hereunder is a party, or (6vi) with the consent of the Board of TrusteesCompany. The Manager agrees to inform each of its Manager Permitted Disclosure Parties of the non-public nature of the Confidential Information and to direct obtain agreement from such Persons to treat such Confidential Information in accordance with the terms hereof. . (b) Nothing herein shall prevent the Manager from disclosing Confidential Information (1i) upon the order of any court or administrative agency, (2ii) upon the request or demand of, or pursuant to any law or regulationregulation to, any regulatory agency or authority, (3iii) to the extent reasonably required in connection with the exercise of any remedy hereunder, or (4iv) to its legal counsel or independent auditors; provided, however, however that with respect to clauses (1i) and (2ii), it is agreed that that, so long as not legally prohibited, the Manager will provide the Trust and the Operating Partnership Company with prompt written notice of such order, request or demand so that the Trust and the Operating Partnership Company may seek seek, at its sole expense, an appropriate protective order and/or waive the Manager’s compliance with the provisions of this Agreement. If, failing the entry of a protective order or the receipt of a waiver hereunder, the Manager is, in the opinion of counsel, is required to disclose Confidential Information, the Manager may disclose only that portion of such information that its counsel advises is legally required without liability hereunder; provided, that the Manager agrees to exercise its reasonable best efforts to obtain reliable assurance that confidential treatment will be accorded such information. . (c) Notwithstanding anything herein to the contrary, each of the following shall be deemed to be excluded from the provisions hereofof this Section 5: any Confidential Information that (A) is available to the public from a source other than the Manager, (B) is released in writing by the Trust Company to the public or to Persons persons who are not under similar obligation of confidentiality to the Trust and the SubsidiariesCompany, or (C) is obtained by the Manager from a third party without where such disclosure, to the best of the Manager’s knowledge, does not constitute a breach by such third party of an obligation of confidence with respect to the Confidential Information disclosed. (b) Each of the Trust and the Operating Partnership shall keep confidential, and shall cause any other Subsidiary to keep confidential, any and all Confidential Information and shall not use, and shall cause any other Subsidiary not to use, Confidential Information except in furtherance of the terms of this Agreement or disclose Confidential Information, in whole or in part, to any Person other than (1) to its Affiliates, officers, trustees, directors, employees, members, agents, representatives or advisors who need to know such Confidential Information for the purpose of fulfilling the Trust’s and the Operating Partnership’s obligations hereunder (collectively, “Trust Permitted Disclosure Parties”), (2) as required by law or legal process to which the Trust or any Subsidiary or any Person to whom disclosure is permitted hereunder is a party, or (3) with the consent of the Manager. Each of the Trust and the Operating Partnership agrees to (1) inform each of its Trust Permitted Disclosure Parties of the non-public nature of the Confidential Information and to direct such Persons to treat such Confidential Information in accordance with the terms hereof and (2) not disclose any Confidential Information to its Trust Permitted Disclosure Parties upon the termination of this Agreement in accordance with Section 11 hereof. Nothing herein shall prevent the Trust or any Subsidiary from disclosing Confidential Information (1) upon the order of any court or administrative agency, (2) upon the request or demand of, or pursuant to any law or regulation, any regulatory agency or authority, (3) to the extent reasonably required in connection with the exercise of any remedy hereunder, or (4) to its legal counsel or independent auditors; provided, however, that with respect to clauses (1) and (2), it is agreed that the Trust and the Operating Partnership will provide the Manager with prompt written notice of such order, request or demand so that the Manager may seek an appropriate protective order and/or waive the Trust’s and the Operating Partnership’s compliance with the provisions of this Section. If, failing the entry of a protective order or the receipt of a waiver hereunder, the Trust or any Subsidiary is, in the opinion of counsel, required to disclose Confidential Information, the Trust or such Subsidiary may disclose only that portion of such information that its counsel advises is legally required without liability hereunder; provided, that each of the Trust and the Operating Partnership shall exercise, and shall cause any other Subsidiary to exercise, its best efforts to obtain reliable assurance that confidential treatment will be accorded such information. Notwithstanding anything herein to the contrary, each of the following shall be deemed to be excluded from the provisions hereof: any Confidential Information that (A) is available to the public from a source other than the Trust or any Subsidiary, (B) is released in writing by the Manager to the public or to Persons who are not under similar obligation of confidentiality to the Manager, or (C) is obtained by the Trust or any Subsidiary from a third party without breach by such third party of an obligation of confidence with respect to the Confidential Information disclosed. For the avoidance of doubt, information about the systems, employees, policies, procedures and investment portfolio (other than investments in which the Trust or any Subsidiary and the Manager have co-invested) shall be deemed to be included within the meaning of “Confidential Information” for purposes of the Trust’s and the Subsidiaries’ obligations pursuant to this Section 6(b). (cd) The provisions of this Section 6 Agreement shall survive the expiration or earlier termination of this Agreement for a period of one (1) year; provided that the parties will maintain trade secrets of the other party identified in writing as trade secrets, and which in fact constitute trade secrets, for a period of no longer than five (5) years thereafter.

Records; Confidentiality. (a) The Manager shall maintain appropriate books of accounts and records relating to services performed hereunder, and such books of account and records shall be accessible for inspection by representatives of the Trust or any Subsidiary Company Entities at any time during normal business hours upon reasonable advance noticehours. The Manager shall keep confidential any and all non-public information, written or oral, obtained by it in connection with the services rendered hereunder (“Confidential Information”) and shall not use Confidential Information except in furtherance of its duties under this Agreement or disclose Confidential Information, in whole or in part, to any Person other than (1i) to its Affiliates, managers, Affiliates and the officers, trustees, directors, employees, members, agents, representatives or advisors of the Manager or any of its Affiliates who need to know such Confidential Information for the purpose of rendering services hereunder, (2ii) to appraisers, financing sources and others in the ordinary course of the Trust’s and any SubsidiaryCompany’s business ((1i) and (2ii) collectively, “Manager Permitted Disclosure Parties”), (3iii) in connection with any governmental or regulatory filings of the Trust Company, or any Subsidiary filings with the AMEX or disclosure other applicable securities exchange or presentations to Trust investorsmarket, (4iv) in presentations or other disclosures to the Company’s investors (subject to compliance with Regulation FD), (iv) to governmental officials having jurisdiction over the TrustCompany, (5v) as required requested by law or legal process to which the Manager or any Person to whom disclosure is permitted hereunder is a party, or (6vi) with the consent of the Board of TrusteesCompany. The Manager agrees to will inform each of its Manager Permitted Disclosure Parties of the non-public nature of the Confidential Information and to direct obtain agreement from such Persons to treat such Confidential Information in accordance with the terms hereof. . (b) Nothing herein shall prevent the any Manager Permitted Disclosure Party from disclosing Confidential Information (1i) upon the order of any court or administrative agency, (2ii) upon the request or demand of, or pursuant to any law or regulationregulation to, any regulatory agency or authority, (3iii) to the extent reasonably required in connection with the exercise of any remedy hereunder, or (4iv) to its legal counsel or independent auditors; provided, however, that with respect to clauses (1i) and (2ii), it is agreed that that, so long as not legally prohibited, the Manager will provide the Trust and the Operating Partnership PAC with prompt written notice of such order, request or demand so that the Trust and the Operating Partnership PAC may seek seek, at its sole expense, an appropriate protective order and/or waive the Managerany Manager Permitted Disclosure Party’s compliance with the provisions of this Agreement. If, failing the entry of a protective order or the receipt of a waiver hereunder, the Manager is, in the opinion of counsel, is required to disclose Confidential Information, the Manager Permitted Disclosure Party may disclose only that portion of such information that its counsel advises is legally required without liability hereunder; provided, however, that the Manager Permitted Disclosure Party agrees to exercise its best commercially reasonable efforts to obtain reliable assurance that confidential treatment will be accorded such information. . (c) Notwithstanding anything herein to the contrary, each of the following types of Confidential Information shall be deemed to be excluded from the provisions hereof: (i) any Confidential Information that (A) is available to the public from a source other than the ManagerManager or its Affiliates, (Bii) any Confidential Information that is released in writing by any of the Trust Company Entities to the public (except to the extent exempt under, and in compliance with, Regulation FD) or to Persons persons who are not under similar obligation of confidentiality to any of the Trust Company Entities; and the Subsidiaries, or (Ciii) any Confidential Information that is obtained by the Manager from a third party without which, to the Manager’s knowledge, does not constitute a breach by such third party of an obligation of confidence with respect to the Confidential Information disclosed. (b) Each of the Trust and the Operating Partnership shall keep confidential, and shall cause any other Subsidiary to keep confidential, any and all Confidential Information and shall not use, and shall cause any other Subsidiary not to use, Confidential Information except in furtherance of the terms of this Agreement or disclose Confidential Information, in whole or in part, to any Person other than (1) to its Affiliates, officers, trustees, directors, employees, members, agents, representatives or advisors who need to know such Confidential Information for the purpose of fulfilling the Trust’s and the Operating Partnership’s obligations hereunder (collectively, “Trust Permitted Disclosure Parties”), (2) as required by law or legal process to which the Trust or any Subsidiary or any Person to whom disclosure is permitted hereunder is a party, or (3) with the consent of the Manager. Each of the Trust and the Operating Partnership agrees to (1) inform each of its Trust Permitted Disclosure Parties of the non-public nature of the Confidential Information and to direct such Persons to treat such Confidential Information in accordance with the terms hereof and (2) not disclose any Confidential Information to its Trust Permitted Disclosure Parties upon the termination of this Agreement in accordance with Section 11 hereof. Nothing herein shall prevent the Trust or any Subsidiary from disclosing Confidential Information (1) upon the order of any court or administrative agency, (2) upon the request or demand of, or pursuant to any law or regulation, any regulatory agency or authority, (3) to the extent reasonably required in connection with the exercise of any remedy hereunder, or (4) to its legal counsel or independent auditors; provided, however, that with respect to clauses (1) and (2), it is agreed that the Trust and the Operating Partnership will provide the Manager with prompt written notice of such order, request or demand so that the Manager may seek an appropriate protective order and/or waive the Trust’s and the Operating Partnership’s compliance with the provisions of this Section. If, failing the entry of a protective order or the receipt of a waiver hereunder, the Trust or any Subsidiary is, in the opinion of counsel, required to disclose Confidential Information, the Trust or such Subsidiary may disclose only that portion of such information that its counsel advises is legally required without liability hereunder; provided, that each of the Trust and the Operating Partnership shall exercise, and shall cause any other Subsidiary to exercise, its best efforts to obtain reliable assurance that confidential treatment will be accorded such information. Notwithstanding anything herein to the contrary, each of the following shall be deemed to be excluded from the provisions hereof: any Confidential Information that (A) is available to the public from a source other than the Trust or any Subsidiary, (B) is released in writing by the Manager to the public or to Persons who are not under similar obligation of confidentiality to the Manager, or (C) is obtained by the Trust or any Subsidiary from a third party without breach by such third party of an obligation of confidence with respect to the Confidential Information disclosed. For the avoidance of doubt, information about the systems, employees, policies, procedures and investment portfolio (other than investments in which the Trust or any Subsidiary and the Manager have co-invested) shall be deemed to be included within the meaning of “Confidential Information” for purposes of the Trust’s and the Subsidiaries’ obligations pursuant to this Section 6(b). (cd) The provisions of this Section 6 shall survive the expiration or earlier termination of this Agreement for a period of one yeartwo years thereafter, provided that the parties will maintain trade secrets of the other party identified in writing as trade secrets, and which in fact constitute trade secrets, for a period of no longer than five years thereafter.

Records; Confidentiality. (a) The Manager Advisor shall maintain appropriate books of accounts and records relating to services performed hereunder, and such books of account and records shall be accessible for inspection by representatives of the Trust or any Subsidiary Company Entities at any time during normal business hours upon reasonable advance noticehours. The Manager Advisor shall keep confidential any and all non-public information, written or oral, obtained by it in connection with the services rendered hereunder (“Confidential Information”) and shall not use Confidential Information except in furtherance of its duties under this Agreement or disclose Confidential Information, in whole or in part, to any Person other than (1i) to its Affiliates, managers, officers, trustees, directors, employees, members, agents, representatives or advisors who need to know such Confidential Information for the purpose of rendering services hereunder, (2ii) to appraisers, financing sources and others in the ordinary course of the Trust’s and any SubsidiaryCompany’s business ((1i) and (2ii) collectively, “Manager Advisor Permitted Disclosure Parties”), (3iii) in connection with any governmental or regulatory filings of the Trust Company or filings with any Subsidiary applicable Securities Exchange , market, or Listed Company Manual or disclosure or presentations to Trust investorsCompany investors (subject to compliance with Regulation FD), if applicable, (4iv) to governmental officials having jurisdiction over the TrustCompany, (5v) as required requested by law or legal process to which the Manager Advisor or any Person to whom disclosure is permitted hereunder is a party, or (6vi) with the consent of the Board of TrusteesCompany. The Manager Advisor agrees to inform each of its Manager Advisor Permitted Disclosure Parties of the non-public nature of the Confidential Information and to direct obtain agreement from such Persons to treat such Confidential Information in accordance with the terms hereof. . (b) Nothing herein shall prevent the Manager Advisor from disclosing Confidential Information (1i) upon the order of any court or administrative agency, (2ii) upon the request or demand of, or pursuant to any law or regulationregulation to, any regulatory agency or authority, (3iii) to the extent reasonably required in connection with the exercise of any remedy hereunder, or (4iv) to its legal counsel or independent auditors; provided, however, however that with respect to clauses (1i) and (2ii), it is agreed that that, so long as not legally prohibited, the Manager Advisor will provide the Trust and the Operating Partnership Company with prompt written notice of such order, request or demand so that the Trust and the Operating Partnership Company may seek seek, at its sole expense, an appropriate protective order and/or waive the ManagerAdvisor’s compliance with the provisions of this Agreement. If, failing the entry of a protective order or the receipt of a waiver hereunder, the Manager is, in the opinion of counsel, Advisor is required to disclose Confidential Information, the Manager Advisor may disclose only that portion of such information that its counsel advises is legally required without liability hereunder; provided, that the Manager Advisor agrees to exercise its reasonable best efforts to obtain reliable assurance that confidential treatment will be accorded such information. . (c) Notwithstanding anything herein to the contrary, each of the following shall be deemed to be excluded from the provisions hereofof this Section 5: any Confidential Information that (A) is available to the public from a source other than the ManagerAdvisor, (B) is released in writing by the Trust Company to the public or to Persons persons who are not under similar obligation of confidentiality to the Trust and the SubsidiariesCompany, or (C) is obtained by the Manager Advisor from a third party without where such disclosure, to the best of the Advisor’s knowledge, does not constitute a breach by such third party of an obligation of confidence with respect to the Confidential Information disclosed. (b) Each of the Trust and the Operating Partnership shall keep confidential, and shall cause any other Subsidiary to keep confidential, any and all Confidential Information and shall not use, and shall cause any other Subsidiary not to use, Confidential Information except in furtherance of the terms of this Agreement or disclose Confidential Information, in whole or in part, to any Person other than (1) to its Affiliates, officers, trustees, directors, employees, members, agents, representatives or advisors who need to know such Confidential Information for the purpose of fulfilling the Trust’s and the Operating Partnership’s obligations hereunder (collectively, “Trust Permitted Disclosure Parties”), (2) as required by law or legal process to which the Trust or any Subsidiary or any Person to whom disclosure is permitted hereunder is a party, or (3) with the consent of the Manager. Each of the Trust and the Operating Partnership agrees to (1) inform each of its Trust Permitted Disclosure Parties of the non-public nature of the Confidential Information and to direct such Persons to treat such Confidential Information in accordance with the terms hereof and (2) not disclose any Confidential Information to its Trust Permitted Disclosure Parties upon the termination of this Agreement in accordance with Section 11 hereof. Nothing herein shall prevent the Trust or any Subsidiary from disclosing Confidential Information (1) upon the order of any court or administrative agency, (2) upon the request or demand of, or pursuant to any law or regulation, any regulatory agency or authority, (3) to the extent reasonably required in connection with the exercise of any remedy hereunder, or (4) to its legal counsel or independent auditors; provided, however, that with respect to clauses (1) and (2), it is agreed that the Trust and the Operating Partnership will provide the Manager with prompt written notice of such order, request or demand so that the Manager may seek an appropriate protective order and/or waive the Trust’s and the Operating Partnership’s compliance with the provisions of this Section. If, failing the entry of a protective order or the receipt of a waiver hereunder, the Trust or any Subsidiary is, in the opinion of counsel, required to disclose Confidential Information, the Trust or such Subsidiary may disclose only that portion of such information that its counsel advises is legally required without liability hereunder; provided, that each of the Trust and the Operating Partnership shall exercise, and shall cause any other Subsidiary to exercise, its best efforts to obtain reliable assurance that confidential treatment will be accorded such information. Notwithstanding anything herein to the contrary, each of the following shall be deemed to be excluded from the provisions hereof: any Confidential Information that (A) is available to the public from a source other than the Trust or any Subsidiary, (B) is released in writing by the Manager to the public or to Persons who are not under similar obligation of confidentiality to the Manager, or (C) is obtained by the Trust or any Subsidiary from a third party without breach by such third party of an obligation of confidence with respect to the Confidential Information disclosed. For the avoidance of doubt, information about the systems, employees, policies, procedures and investment portfolio (other than investments in which the Trust or any Subsidiary and the Manager have co-invested) shall be deemed to be included within the meaning of “Confidential Information” for purposes of the Trust’s and the Subsidiaries’ obligations pursuant to this Section 6(b). (cd) The provisions of this Section 6 Agreement shall survive the expiration or earlier termination of this Agreement for a period of one (1) year; provided that the parties will maintain trade secrets of the other party identified in writing as trade secrets, and which in fact constitute trade secrets, for a period of no longer than five (5) years thereafter.

Records; Confidentiality. (a) The Manager shall maintain appropriate books of accounts and records relating to services performed hereunder, and such books of account and records shall be accessible for inspection by representatives of the Trust or any Subsidiary CDS at any time during normal business hours upon reasonable advance noticehours. The Manager shall keep confidential any and all non-public information, written or oral, obtained by it in connection with the services rendered hereunder (“Confidential Information”) and shall not use Confidential Information except in furtherance of its duties under this Agreement or Agreement, nor disclose Confidential Information, in whole or in part, to any Person other than (1i) to its Affiliates, managers, Manager’s Affiliates and the officers, trustees, directors, employees, members, agents, representatives or advisors of the Manager or its Affiliates who need to know such Confidential Information for the purpose of rendering services hereunder, (2ii) to appraisers, financing sources and others other consultants in the ordinary course of the Trust’s and any Subsidiary’s business undertaken on behalf of a CDS Entity (clauses (1i) and (2ii) above, collectively, “Manager Permitted Disclosure Parties”), (3iii) in connection with any governmental or regulatory filings of the Trust Manager or any Subsidiary its Affiliates, or disclosure filings with the NASDAQ or presentations to Trust investorsother applicable securities market, (4iv) in presentations or other disclosures to CDS investors (subject to compliance with Regulation FD), (v) to governmental officials having jurisdiction over the TrustCDS Entities, (5vi) as required by law or legal process to which the Manager or any Person to whom disclosure is permitted hereunder is a party, or (6vii) with the written consent of the Board of TrusteesCDS. The Manager agrees to will inform each of its Manager Permitted Disclosure Parties of the non-public nature of the Confidential Information and to direct obtain agreement from such Persons to treat such Confidential Information in accordance with the terms hereof. . (b) Nothing herein shall prevent the any Manager Permitted Disclosure Party from disclosing Confidential Information (1i) upon the order of any court or administrative agencyagency having jurisdiction, (2ii) upon the request or demand of, or pursuant to any law or regulationregulation to, any regulatory agency or authorityauthority having jurisdiction, or (3iii) to the extent reasonably required in connection with the exercise of any remedy hereunderrequired, or (4) to its legal counsel or independent auditors; provided, however, that with respect to clauses (1i) and (2)ii) above, it is agreed that that, so long as not legally prohibited, the Manager will provide the Trust and the Operating Partnership CDS with prompt written notice of such order, request or demand so that the Trust and the Operating Partnership CDS may seek seek, at its sole expense, an appropriate protective order and/or waive the Managerany Manager Permitted Disclosure Party’s compliance with the provisions of this Agreement. If, failing the entry of a protective order or the receipt of a waiver hereunder, the Manager is, in the opinion of counsel, is required to disclose Confidential Information, the Manager Permitted Disclosure Party may disclose only that portion of such information that its counsel advises is legally required without liability hereunder; providedprovided further, however, that the Manager Permitted Disclosure Party agrees to exercise its best commercially reasonable efforts to obtain reliable assurance that confidential treatment will be accorded such information. . (c) Notwithstanding anything herein to the contrary, each of the following types of Confidential Information shall be deemed to be excluded from the provisions hereof: (i) any Confidential Information that (A) is available to the public from a source other than the Manager, Manager or its Affiliates; (Bii) any Confidential Information that is released in writing by any of the Trust CDS Entities to the public (except to the extent exempt under, and in compliance with, Regulation FD) or to Persons persons who are not under similar obligation of confidentiality to any of the Trust CDS Entities; and the Subsidiaries, or (Ciii) any Confidential Information that is obtained by the Manager from a third party without which, to the Manager’s knowledge, does not constitute a breach by such third party of an obligation of confidence with respect to the Confidential Information disclosed. (b) Each of the Trust and the Operating Partnership shall keep confidential, and shall cause any other Subsidiary to keep confidential, any and all Confidential Information and shall not use, and shall cause any other Subsidiary not to use, Confidential Information except in furtherance of the terms of this Agreement or disclose Confidential Information, in whole or in part, to any Person other than (1) to its Affiliates, officers, trustees, directors, employees, members, agents, representatives or advisors who need to know such Confidential Information for the purpose of fulfilling the Trust’s and the Operating Partnership’s obligations hereunder (collectively, “Trust Permitted Disclosure Parties”), (2) as required by law or legal process to which the Trust or any Subsidiary or any Person to whom disclosure is permitted hereunder is a party, or (3) with the consent of the Manager. Each of the Trust and the Operating Partnership agrees to (1) inform each of its Trust Permitted Disclosure Parties of the non-public nature of the Confidential Information and to direct such Persons to treat such Confidential Information in accordance with the terms hereof and (2) not disclose any Confidential Information to its Trust Permitted Disclosure Parties upon the termination of this Agreement in accordance with Section 11 hereof. Nothing herein shall prevent the Trust or any Subsidiary from disclosing Confidential Information (1) upon the order of any court or administrative agency, (2) upon the request or demand of, or pursuant to any law or regulation, any regulatory agency or authority, (3) to the extent reasonably required in connection with the exercise of any remedy hereunder, or (4) to its legal counsel or independent auditors; provided, however, that with respect to clauses (1) and (2), it is agreed that the Trust and the Operating Partnership will provide the Manager with prompt written notice of such order, request or demand so that the Manager may seek an appropriate protective order and/or waive the Trust’s and the Operating Partnership’s compliance with the provisions of this Section. If, failing the entry of a protective order or the receipt of a waiver hereunder, the Trust or any Subsidiary is, in the opinion of counsel, required to disclose Confidential Information, the Trust or such Subsidiary may disclose only that portion of such information that its counsel advises is legally required without liability hereunder; provided, that each of the Trust and the Operating Partnership shall exercise, and shall cause any other Subsidiary to exercise, its best efforts to obtain reliable assurance that confidential treatment will be accorded such information. Notwithstanding anything herein to the contrary, each of the following shall be deemed to be excluded from the provisions hereof: any Confidential Information that (A) is available to the public from a source other than the Trust or any Subsidiary, (B) is released in writing by the Manager to the public or to Persons who are not under similar obligation of confidentiality to the Manager, or (C) is obtained by the Trust or any Subsidiary from a third party without breach by such third party of an obligation of confidence with respect to the Confidential Information disclosed. For the avoidance of doubt, information about the systems, employees, policies, procedures and investment portfolio (other than investments in which the Trust or any Subsidiary and the Manager have co-invested) shall be deemed to be included within the meaning of “Confidential Information” for purposes of the Trust’s and the Subsidiaries’ obligations pursuant to this Section 6(b). (cd) The provisions of this Section 6 shall survive the expiration or earlier termination of this Agreement for a period of one yeartwo years thereafter, provided that the Manager will maintain trade secrets of CDS identified in writing as trade secrets, and which in fact constitute trade secrets, for a period of five years, unless a court of competent jurisdiction determines in a final non-appealable ruling that a lesser period should apply.

Records; Confidentiality. (a) The Manager shall maintain appropriate books of accounts and records relating to services performed hereunder, and such books of account and records shall be accessible for inspection by representatives of the Trust or any Subsidiary Company at any time during normal business hours upon reasonable advance notice. The Manager shall keep confidential any and all non-public information, written or oral, obtained by it in connection with the services rendered hereunder (“"Confidential Information”") and shall not use Confidential Information except in furtherance of its duties under this Agreement or disclose Confidential Information, in whole or in part, to any Person other than (1a) to its Affiliates, (b) to its and its Affiliates' members, stockholders, managers, partners, personnel, officers, trustees, directors, employees, membersconsultants, agents, representatives or advisors who need to know such Confidential Information for the purpose of rendering services hereunderInformation, (2c) to appraisers, financing sources and others in the ordinary course of the Trust’s and any Subsidiary’s Company's business ((1a), (b) and (2c) collectively, “"Manager Permitted Disclosure Parties”"), (3d) in connection with any governmental or regulatory filings of the Trust or any Subsidiary Company or disclosure or presentations to Trust investorsCompany investors (subject to compliance with Regulation FD), (4e) to governmental officials having jurisdiction over the TrustCompany, (5f) as required requested by law or legal process to which the Manager or any Person to whom disclosure is permitted hereunder is a party, party or (6g) with the consent of the Board of TrusteesBoard. The Manager agrees to inform each of its Manager Permitted Disclosure Parties of the non-public nature of the Confidential Information and instruct the Manager Permitted Disclosure Parties to direct keep such Persons to treat such Confidential Information in accordance with the terms hereofinformation confidential. Nothing herein shall prevent the Manager from disclosing Confidential Information (1i) upon the order of any court or administrative agency, (2ii) upon the request or demand of, or pursuant to any law or regulationregulation to, any regulatory agency or authority, (3iii) to the extent reasonably required in connection with the exercise of any remedy hereunder, or (4iv) to its legal counsel or independent auditors; provided, however, that with respect to clauses (1i) and (2ii), it is agreed that that, so long as not legally prohibited, the Manager will provide the Trust and the Operating Partnership Company with prompt written notice of such order, request or demand so that the Trust and the Operating Partnership Company may seek seek, at its sole expense, an appropriate protective order and/or waive the Manager’s 's compliance with the provisions of this Agreement. If, failing the entry of a protective order or the receipt of a waiver hereunder, the Manager is, in the opinion of counsel, is required to disclose Confidential Information, the Manager may disclose only that portion of such information that its counsel advises is legally required without liability hereunder; provided, that the Manager agrees to exercise its best commercially reasonable efforts to obtain reliable assurance that confidential treatment will be accorded such information. Notwithstanding anything herein to the contrary, each of the following shall be deemed to be excluded from the provisions hereof: any Confidential Information that (A) is available to the public from a source other than the Manager, ; (B) is released in writing by the Trust Company to the public or to Persons who are not under similar obligation of confidentiality to the Trust and the Subsidiaries, Company; or (C) is obtained by the Manager from a third party without breach by such third party of an obligation of confidence with respect that, to the Confidential Information disclosed. (b) Each of the Trust and the Operating Partnership shall keep confidential, and shall cause any other Subsidiary to keep confidential, any and all Confidential Information and shall not use, and shall cause any other Subsidiary not to use, Confidential Information except in furtherance of the terms of this Agreement or disclose Confidential Information, in whole or in part, to any Person other than (1) to its Affiliates, officers, trustees, directors, employees, members, agents, representatives or advisors who need to know such Confidential Information for the purpose of fulfilling the Trust’s and the Operating Partnership’s obligations hereunder (collectively, “Trust Permitted Disclosure Parties”), (2) as required by law or legal process to which the Trust or any Subsidiary or any Person to whom disclosure is permitted hereunder is a party, or (3) with the consent best of the Manager. Each of the Trust and the Operating Partnership agrees to (1) inform each of its Trust Permitted Disclosure Parties of the non-public nature of the Confidential Information and to direct such Persons to treat such Confidential Information in accordance with the terms hereof and (2) 's knowledge, has not disclose any Confidential Information to its Trust Permitted Disclosure Parties upon the termination of this Agreement in accordance with Section 11 hereof. Nothing herein shall prevent the Trust or any Subsidiary from disclosing Confidential Information (1) upon the order of any court or administrative agency, (2) upon the request or demand of, or pursuant to any law or regulation, any regulatory agency or authority, (3) to the extent reasonably required in connection with the exercise of any remedy hereunder, or (4) to its legal counsel or independent auditors; provided, however, that with respect to clauses (1) and (2), it is agreed that the Trust and the Operating Partnership will provide the Manager with prompt written notice of such order, request or demand so that the Manager may seek an appropriate protective order and/or waive the Trust’s and the Operating Partnership’s compliance with the provisions of this Section. If, failing the entry of a protective order or the receipt of a waiver hereunder, the Trust or any Subsidiary is, in the opinion of counsel, required to disclose Confidential Information, the Trust or such Subsidiary may disclose only that portion of such information that its counsel advises is legally required without liability hereunder; provided, that each of the Trust and the Operating Partnership shall exercise, and shall cause any other Subsidiary to exercise, its best efforts to obtain reliable assurance that confidential treatment will be accorded such information. Notwithstanding anything herein to the contrary, each of the following shall be deemed to be excluded from the provisions hereof: any Confidential Information that (A) is available to the public from a source other than the Trust or any Subsidiary, (B) is released in writing by the Manager to the public or to Persons who are not under similar obligation of confidentiality to the Manager, or (C) is obtained by the Trust or any Subsidiary from a third party without breach by such third party of breached an obligation of confidence with respect to the Confidential Information disclosed. For the avoidance of doubt, information about the systems, employees, policies, procedures and investment portfolio (other than investments in which the Trust or any Subsidiary and the Manager have co-invested) shall be deemed to be included within the meaning of “Confidential Information” for purposes of the Trust’s and the Subsidiaries’ obligations pursuant to this Section 6(b). (c) The provisions of this Section 6 5 shall survive the expiration or earlier termination of this Agreement for a period of one year.

Records; Confidentiality. (a) The Manager shall maintain appropriate books of accounts and records relating to services performed hereunder, and such books of account and records shall be accessible for inspection by representatives of the Trust or any Subsidiary Company Entities at any time during normal business hours upon reasonable advance noticehours. The Manager shall keep confidential any and all non-public information, written or oral, obtained by it in connection with the services rendered hereunder (“Confidential Information”) and shall not use Confidential Information except in furtherance of its duties under this Agreement or disclose Confidential Information, in whole or in part, to any Person other than (1i) to its Affiliates, managers, officers, trustees, directors, employees, members, agents, representatives or advisors who need to know such Confidential Information for the purpose of rendering services hereunder, (2ii) to appraisers, financing sources and others in the ordinary course of the Trust’s and any SubsidiaryCompany’s business ((1i) and (2ii) collectively, “Manager Permitted Disclosure Parties”), (3iii) in connection with any governmental or regulatory filings of the Trust Company or any Subsidiary filings with the NYSE, NYSE American, or other applicable Securities Exchange or market, or disclosure or presentations to Trust investorsCompany investors (subject to compliance with Regulation FD), (4iv) to governmental officials having jurisdiction over the TrustCompany, (5v) as required requested by law or legal process to which the Manager or any Person to whom disclosure is permitted hereunder is a party, or (6vi) with the consent of the Board of TrusteesCompany. The Manager agrees to inform each of its Manager Permitted Disclosure Parties of the non-public nature of the Confidential Information and to direct obtain agreement from such Persons to treat such Confidential Information in accordance with the terms hereof. . (b) Nothing herein shall prevent the Manager from disclosing Confidential Information (1i) upon the order of any court or administrative agency, (2ii) upon the request or demand of, or pursuant to any law or regulationregulation to, any regulatory agency or authority, (3iii) to the extent reasonably required in connection with the exercise of any remedy hereunder, or (4iv) to its legal counsel or independent auditors; provided, however, however that with respect to clauses (1i) and (2ii), it is agreed that that, so long as not legally prohibited, the Manager will provide the Trust and the Operating Partnership Company with prompt written notice of such order, request or demand so that the Trust and the Operating Partnership Company may seek seek, at its sole expense, an appropriate protective order and/or waive the Manager’s compliance with the provisions of this Agreement. If, failing the entry of a protective order or the receipt of a waiver hereunder, the Manager is, in the opinion of counsel, is required to disclose Confidential Information, the Manager may disclose only that portion of such information that its counsel advises is legally required without liability hereunder; provided, that the Manager agrees to exercise its reasonable best efforts to obtain reliable assurance that confidential treatment will be accorded such information. . (c) Notwithstanding anything herein to the contrary, each of the following shall be deemed to be excluded from the provisions hereofof this Section 5: any Confidential Information that (A) is available to the public from a source other than the Manager, (B) is released in writing by the Trust Company to the public (except to the extent exempt under Regulation FD) or to Persons persons who are not under similar obligation of confidentiality to the Trust and the SubsidiariesCompany, or (C) is obtained by the Manager from a third party without where such disclosure, to the best of the Manager’s knowledge, does not constitute a breach by such third party of an obligation of confidence with respect to the Confidential Information disclosed. (b) Each of the Trust and the Operating Partnership shall keep confidential, and shall cause any other Subsidiary to keep confidential, any and all Confidential Information and shall not use, and shall cause any other Subsidiary not to use, Confidential Information except in furtherance of the terms of this Agreement or disclose Confidential Information, in whole or in part, to any Person other than (1) to its Affiliates, officers, trustees, directors, employees, members, agents, representatives or advisors who need to know such Confidential Information for the purpose of fulfilling the Trust’s and the Operating Partnership’s obligations hereunder (collectively, “Trust Permitted Disclosure Parties”), (2) as required by law or legal process to which the Trust or any Subsidiary or any Person to whom disclosure is permitted hereunder is a party, or (3) with the consent of the Manager. Each of the Trust and the Operating Partnership agrees to (1) inform each of its Trust Permitted Disclosure Parties of the non-public nature of the Confidential Information and to direct such Persons to treat such Confidential Information in accordance with the terms hereof and (2) not disclose any Confidential Information to its Trust Permitted Disclosure Parties upon the termination of this Agreement in accordance with Section 11 hereof. Nothing herein shall prevent the Trust or any Subsidiary from disclosing Confidential Information (1) upon the order of any court or administrative agency, (2) upon the request or demand of, or pursuant to any law or regulation, any regulatory agency or authority, (3) to the extent reasonably required in connection with the exercise of any remedy hereunder, or (4) to its legal counsel or independent auditors; provided, however, that with respect to clauses (1) and (2), it is agreed that the Trust and the Operating Partnership will provide the Manager with prompt written notice of such order, request or demand so that the Manager may seek an appropriate protective order and/or waive the Trust’s and the Operating Partnership’s compliance with the provisions of this Section. If, failing the entry of a protective order or the receipt of a waiver hereunder, the Trust or any Subsidiary is, in the opinion of counsel, required to disclose Confidential Information, the Trust or such Subsidiary may disclose only that portion of such information that its counsel advises is legally required without liability hereunder; provided, that each of the Trust and the Operating Partnership shall exercise, and shall cause any other Subsidiary to exercise, its best efforts to obtain reliable assurance that confidential treatment will be accorded such information. Notwithstanding anything herein to the contrary, each of the following shall be deemed to be excluded from the provisions hereof: any Confidential Information that (A) is available to the public from a source other than the Trust or any Subsidiary, (B) is released in writing by the Manager to the public or to Persons who are not under similar obligation of confidentiality to the Manager, or (C) is obtained by the Trust or any Subsidiary from a third party without breach by such third party of an obligation of confidence with respect to the Confidential Information disclosed. For the avoidance of doubt, information about the systems, employees, policies, procedures and investment portfolio (other than investments in which the Trust or any Subsidiary and the Manager have co-invested) shall be deemed to be included within the meaning of “Confidential Information” for purposes of the Trust’s and the Subsidiaries’ obligations pursuant to this Section 6(b). (cd) The provisions of this Section 6 Agreement shall survive the expiration or earlier termination of this Agreement for a period of one (1) year; provided that the parties will maintain trade secrets of the other party identified in writing as trade secrets, and which in fact constitute trade secrets, for a period of no longer than five (5) years thereafter.

Records; Confidentiality. (a) The Manager shall maintain appropriate books of accounts and records relating to services performed hereunder, and such books of account and records shall be accessible for inspection by representatives of the Trust or any Subsidiary Company at any time during normal business hours upon reasonable advance notice. The Manager shall have full responsibility for the maintenance, care and safekeeping of all such books of account, records and files (it being understood that services may be provided with respect to the Company by service providers (e.g., administrators, prime brokers and custodians) and so long as such service providers are monitored by the Manager with due care, the Manager shall be in compliance with the foregoing). The Manager shall keep confidential any and all non-public information, written or oral, obtained by it in connection with the services rendered hereunder (“Confidential Information”) and shall not use Confidential Information except in furtherance of its duties under this Agreement or disclose Confidential Information, in whole or in part, to any Person other than (1a) to its Affiliates, (b) to its and its Affiliates’ members, stockholders, managers, partners, personnel, officers, trustees, directors, employees, membersconsultants, agents, representatives or advisors who need to know such Confidential Information for the purpose of rendering services hereunderInformation, (2c) to appraisers, financing sources and others in the ordinary course of the Trust’s and any SubsidiaryCompany’s business ((1a), (b) and (2c) collectively, “Manager Permitted Disclosure Parties”), (3d) in connection with any governmental or regulatory filings of the Trust or any Subsidiary Company or disclosure or presentations to Trust investorsCompany investors (subject to compliance with Regulation FD), (4e) to governmental officials having jurisdiction over the TrustCompany, (5f) as required by law or legal process to which the Manager or any Person to whom disclosure is permitted hereunder is a party, (g) to the extent reasonably required to perform the services under this Agreement or (6h) with the consent of the Board of TrusteesBoard. The Manager agrees to inform each of its Manager Permitted Disclosure Parties of the non-public nature of the Confidential Information and instruct the Manager Permitted Disclosure Parties to direct keep such Persons to treat such Confidential Information in accordance with the terms hereofinformation confidential. Nothing herein shall prevent the Manager from disclosing Confidential Information (1i) upon the order of any court or administrative agency, (2ii) upon the request or demand of, or pursuant to any law or regulationregulation to, any regulatory agency or authorityauthority having jurisdiction over the Manager, (3iii) to the extent reasonably required in connection with the exercise of any remedy hereunder, hereunder or (4iv) to its legal counsel or independent auditors; provided, however, that with respect to clauses (1i) and (2ii), it is agreed that that, so long as not legally prohibited, the Manager will provide the Trust and the Operating Partnership Company with prompt written notice within a reasonable period of time of such order, request or demand so that the Trust and the Operating Partnership Company may seek seek, at its sole expense, an appropriate protective order and/or waive the Manager’s compliance with the provisions of this Agreement. If, failing the entry of a protective order or the receipt of a waiver hereunder, the Manager is, in the opinion of counsel, is required to disclose Confidential Information, the Manager may disclose only that portion of such information that its counsel advises is legally required without liability hereunder; provided, that the Manager agrees to exercise its best commercially reasonable efforts to obtain reliable assurance that confidential treatment will be accorded such information. Notwithstanding anything herein to the contrary, each of the following shall be deemed to be excluded from the provisions hereof: any Confidential Information that that: (A) is available to the public from a source other than the Manager, ; (B) is released in writing by the Trust Company to the public or to Persons who are not under similar obligation of confidentiality to the Trust and the Subsidiaries, Company; or (C) is obtained by the Manager from a third party without breach by such third party of an obligation of confidence with respect that, to the Confidential Information disclosed. (b) Each of the Trust and the Operating Partnership shall keep confidential, and shall cause any other Subsidiary to keep confidential, any and all Confidential Information and shall not use, and shall cause any other Subsidiary not to use, Confidential Information except in furtherance of the terms of this Agreement or disclose Confidential Information, in whole or in part, to any Person other than (1) to its Affiliates, officers, trustees, directors, employees, members, agents, representatives or advisors who need to know such Confidential Information for the purpose of fulfilling the Trust’s and the Operating Partnership’s obligations hereunder (collectively, “Trust Permitted Disclosure Parties”), (2) as required by law or legal process to which the Trust or any Subsidiary or any Person to whom disclosure is permitted hereunder is a party, or (3) with the consent best of the Manager. Each of the Trust and the Operating Partnership agrees to (1) inform each of its Trust Permitted Disclosure Parties of the non-public nature of the Confidential Information and to direct such Persons to treat such Confidential Information in accordance with the terms hereof and (2) ’s knowledge, has not disclose any Confidential Information to its Trust Permitted Disclosure Parties upon the termination of this Agreement in accordance with Section 11 hereof. Nothing herein shall prevent the Trust or any Subsidiary from disclosing Confidential Information (1) upon the order of any court or administrative agency, (2) upon the request or demand of, or pursuant to any law or regulation, any regulatory agency or authority, (3) to the extent reasonably required in connection with the exercise of any remedy hereunder, or (4) to its legal counsel or independent auditors; provided, however, that with respect to clauses (1) and (2), it is agreed that the Trust and the Operating Partnership will provide the Manager with prompt written notice of such order, request or demand so that the Manager may seek an appropriate protective order and/or waive the Trust’s and the Operating Partnership’s compliance with the provisions of this Section. If, failing the entry of a protective order or the receipt of a waiver hereunder, the Trust or any Subsidiary is, in the opinion of counsel, required to disclose Confidential Information, the Trust or such Subsidiary may disclose only that portion of such information that its counsel advises is legally required without liability hereunder; provided, that each of the Trust and the Operating Partnership shall exercise, and shall cause any other Subsidiary to exercise, its best efforts to obtain reliable assurance that confidential treatment will be accorded such information. Notwithstanding anything herein to the contrary, each of the following shall be deemed to be excluded from the provisions hereof: any Confidential Information that (A) is available to the public from a source other than the Trust or any Subsidiary, (B) is released in writing by the Manager to the public or to Persons who are not under similar obligation of confidentiality to the Manager, or (C) is obtained by the Trust or any Subsidiary from a third party without breach by such third party of breached an obligation of confidence with respect to the Confidential Information disclosed. For the avoidance of doubt, information about the systems, employees, policies, procedures and investment portfolio (other than investments in which the Trust or any Subsidiary and the Manager have co-invested) shall be deemed to be included within the meaning of “Confidential Information” for purposes of the Trust’s and the Subsidiaries’ obligations pursuant to this Section 6(b). (c) The provisions of this Section 6 5 shall survive the expiration or earlier termination of this Agreement for a period of one year.

Records; Confidentiality. (a) The Manager shall maintain appropriate books of accounts and records relating to services performed hereunder, and such books of account and records shall be accessible for inspection by representatives of the Trust Company or any Subsidiary at any time during normal business hours upon reasonable advance noticehours. The Manager shall keep confidential any and all non-public information, written or oral, obtained by it in connection with the services rendered hereunder (“Confidential Information”) and shall not use Confidential Information except in furtherance of its duties under this Agreement or disclose Confidential Information, in whole or in part, to any Person other than (1i) to its Affiliates, managersmembers, officers, trustees, directors, employees, members, agents, representatives or advisors who need to know such Confidential Information for the purpose of rendering services hereunder, (2ii) to appraisers, financing sources and others in the ordinary course of the Trust’s and any SubsidiaryCompany’s business ((1i) and (2ii) collectively, “Manager Permitted Disclosure Parties”), (3iii) in connection with any governmental or regulatory filings of the Trust or any Subsidiary Company or disclosure or presentations to Trust investorsCompany investors (subject to compliance with Regulation FD), (4iv) to governmental officials having jurisdiction over the TrustCompany, (5v) as required requested by law or legal process to which the Manager or any Person to whom disclosure is permitted hereunder is a party, or (6vi) with the consent of the Board of TrusteesCompany. The Manager agrees to inform each of its Manager Permitted Disclosure Parties of the non-public nature of the Confidential Information and to direct use commercially reasonable efforts to obtain agreement from such Persons to treat such Confidential Information in accordance with the terms hereof. Nothing herein shall prevent the Manager from disclosing Confidential Information (1i) upon the order of any court or administrative agency, (2ii) upon the request or demand of, or pursuant to any law or regulationregulation to, any regulatory agency or authority, (3iii) to the extent reasonably required in connection with the exercise of any remedy hereunder, or (4iv) to its legal counsel or independent auditors; provided, however, however that with respect to clauses (1i) and (2ii), it is agreed that that, so long as not legally prohibited, the Manager will provide the Trust and the Operating Partnership Company with prompt written notice of such order, request or demand so that the Trust and the Operating Partnership Company may seek seek, at its sole expense, an appropriate protective order and/or waive the Manager’s compliance with the provisions of this Agreement. If, failing the entry of a protective order or the receipt of a waiver hereunder, the Manager is, in the opinion of counsel, is required to disclose Confidential Information, the Manager may disclose only that portion of such information that its counsel advises is legally required without liability hereunder; provided, that the Manager agrees to exercise its reasonable best efforts to obtain reliable assurance that confidential treatment will be accorded such information. Notwithstanding anything herein to the contrary, each of the following shall be deemed to be excluded from the provisions hereof: any Confidential Information that (A) is available to the public from a source other than the Manager, (B) is released in writing by the Trust Company to the public (except to the extent exempt under Regulation FD) or to Persons persons who are not under similar obligation of confidentiality to the Trust and the SubsidiariesCompany, or (C) is obtained by the Manager from a third third-party without which, to the best of the Manager’s knowledge, does not constitute a breach by such third party of an obligation of confidence with respect to the Confidential Information disclosed. (b) Each of the Trust and the Operating Partnership shall keep confidential, and shall cause any other Subsidiary to keep confidential, any and all Confidential Information and shall not use, and shall cause any other Subsidiary not to use, Confidential Information except in furtherance of the terms of this Agreement or disclose Confidential Information, in whole or in part, to any Person other than (1) to its Affiliates, officers, trustees, directors, employees, members, agents, representatives or advisors who need to know such Confidential Information for the purpose of fulfilling the Trust’s and the Operating Partnership’s obligations hereunder (collectively, “Trust Permitted Disclosure Parties”), (2) as required by law or legal process to which the Trust or any Subsidiary or any Person to whom disclosure is permitted hereunder is a party, or (3) with the consent of the Manager. Each of the Trust and the Operating Partnership agrees to (1) inform each of its Trust Permitted Disclosure Parties of the nonthird-public nature of the Confidential Information and to direct such Persons to treat such Confidential Information in accordance with the terms hereof and (2) not disclose any Confidential Information to its Trust Permitted Disclosure Parties upon the termination of this Agreement in accordance with Section 11 hereof. Nothing herein shall prevent the Trust or any Subsidiary from disclosing Confidential Information (1) upon the order of any court or administrative agency, (2) upon the request or demand of, or pursuant to any law or regulation, any regulatory agency or authority, (3) to the extent reasonably required in connection with the exercise of any remedy hereunder, or (4) to its legal counsel or independent auditors; provided, however, that with respect to clauses (1) and (2), it is agreed that the Trust and the Operating Partnership will provide the Manager with prompt written notice of such order, request or demand so that the Manager may seek an appropriate protective order and/or waive the Trust’s and the Operating Partnership’s compliance with the provisions of this Section. If, failing the entry of a protective order or the receipt of a waiver hereunder, the Trust or any Subsidiary is, in the opinion of counsel, required to disclose Confidential Information, the Trust or such Subsidiary may disclose only that portion of such information that its counsel advises is legally required without liability hereunder; provided, that each of the Trust and the Operating Partnership shall exercise, and shall cause any other Subsidiary to exercise, its best efforts to obtain reliable assurance that confidential treatment will be accorded such information. Notwithstanding anything herein to the contrary, each of the following shall be deemed to be excluded from the provisions hereof: any Confidential Information that (A) is available to the public from a source other than the Trust or any Subsidiary, (B) is released in writing by the Manager to the public or to Persons who are not under similar obligation of confidentiality to the Manager, or (C) is obtained by the Trust or any Subsidiary from a third party without breach by such third party of an obligation of confidence with respect to the Confidential Information disclosed. For the avoidance of doubt, information about the systems, employees, policies, procedures and investment portfolio (other than investments in which the Trust or any Subsidiary and the Manager have co-invested) shall be deemed to be included within the meaning of “Confidential Information” for purposes of the Trust’s and the Subsidiaries’ obligations pursuant to this Section 6(b). (c) The provisions of this Section 6 shall survive the expiration or earlier termination of this Agreement for a period of one year.

Records; Confidentiality. (a) The Manager shall maintain appropriate books of accounts and records relating to services performed hereunder, and such books of account and records shall be accessible for inspection by representatives of the Trust Company (including the Board) or any Subsidiary at any time during normal business hours upon reasonable advance noticehours. The Manager shall keep confidential any and all non-public information, written or oral, obtained by it in connection with the services rendered hereunder (“Confidential Information”) and shall not use Confidential Information except in furtherance of its duties under this Agreement or disclose Confidential Information, in whole or in part, to any Person other than (1i) to its Affiliates, managersmembers, officers, trustees, directors, employees, members, agents, representatives representatives, legal counsel, accountants, or advisors who need to know such Confidential Information for the purpose of rendering services hereunder, (2ii) to appraisers, financing sources and others in the ordinary course of the Trust’s and any SubsidiaryCompany’s business ((1i) and (2ii) collectively, “Manager Permitted Disclosure Parties”), (3iii) in connection with any governmental or regulatory filings of the Trust or any Subsidiary Company or disclosure or presentations to Trust investorsCompany investors (subject to compliance with Regulation FD), (4iv) to governmental officials having jurisdiction over the TrustCompany, (5v) as required by law or legal process to which the Manager or any Person to whom disclosure is permitted hereunder is a partyprocess, or (6vi) with the consent of the Board Company upon approval of Trusteesa majority of the Independent Directors. The Manager agrees to inform each of its Manager Permitted Disclosure Parties of the non-public nature of the Confidential Information and to direct use commercially reasonable efforts to obtain agreement from such Persons to treat such Confidential Information in accordance with the terms hereof. Nothing herein shall prevent the Manager from disclosing Confidential Information (1i) upon the order of any court or administrative agency, (2ii) upon the request or demand of, or pursuant to any law or regulationregulation to, any regulatory agency or authority, (3iii) to the extent reasonably required in connection with the exercise of any remedy hereunder, or (4iv) to its legal counsel or independent auditors; provided, however, however that with respect to clauses (1i) and (2ii), it is agreed that that, so long as not legally prohibited, the Manager will provide the Trust and the Operating Partnership Company with prompt written notice of such order, request or demand so that the Trust and the Operating Partnership Company may seek seek, at its sole expense, an appropriate protective order and/or waive the Manager’s compliance with the provisions of this Agreement. If, failing the entry of a protective order or the receipt of a waiver hereunder, the Manager is, in the opinion of counsel, is required to disclose Confidential Information, the Manager may disclose only that portion of such information that its counsel advises is legally required without liability hereunder; provided, that the Manager agrees to exercise its reasonable best efforts to obtain reliable assurance that confidential treatment will be accorded such information. Notwithstanding anything herein to the contrary, each of the following shall be deemed to be excluded from the provisions hereof: any Confidential Information that (A) is available to the public from a source other than the Manager, (B) is released in writing by the Trust Company to the public or to Persons who are not under similar obligation of confidentiality to the Trust and the Subsidiariespublic, or (C) is obtained by the Manager from a third third-party without which, to the best of the Manager’s knowledge, does not constitute a breach by such third third-party of an obligation of confidence with respect to the Confidential Information disclosed. disclosed or (bD) Each is disclosed in the ordinary course of the Trust and the Operating Partnership shall keep confidentialbusiness, and shall cause any other Subsidiary to keep confidential, any and all Confidential Information and shall not use, and shall cause any other Subsidiary not to use, Confidential Information except in furtherance of the terms of this Agreement or disclose Confidential Information, in whole or in part, to any Person other than (1) to its Affiliates, officers, trustees, directors, employees, members, agents, representatives or advisors who need to know such Confidential Information for the purpose of fulfilling the Trust’s and the Operating Partnership’s obligations hereunder (collectively, “Trust Permitted Disclosure Parties”), (2) as required by law or legal process to which the Trust Manager, acting prudently, deems in its reasonable discretion to be necessary or any Subsidiary or any Person to whom disclosure is permitted hereunder is a party, or (3) with the consent of the Manager. Each of the Trust and the Operating Partnership agrees to (1) inform each of its Trust Permitted Disclosure Parties of the non-public nature of the Confidential Information and to direct such Persons to treat such Confidential Information in accordance with the terms hereof and (2) not disclose any Confidential Information to its Trust Permitted Disclosure Parties upon the termination of this Agreement in accordance with Section 11 hereof. Nothing herein shall prevent the Trust or any Subsidiary from disclosing Confidential Information (1) upon the order of any court or administrative agency, (2) upon the request or demand of, or pursuant to any law or regulation, any regulatory agency or authority, (3) to the extent reasonably required appropriate in connection with the exercise of any remedy hereundercarrying out its duties and obligations under this Agreement, or (4) subject to its legal counsel or independent auditors; provided, however, that with respect to clauses (1) and (2), it is agreed that the Trust and the Operating Partnership will provide the Manager with prompt written notice of such order, request or demand so that the Manager may seek an appropriate protective order and/or waive the Trust’s and the Operating Partnership’s compliance with the provisions of this SectionCompany’s Regulation FD disclosure obligations. If, failing the entry of a protective order or the receipt of a waiver hereunder, the Trust or any Subsidiary is, in the opinion of counsel, required to disclose Confidential Information, the Trust or such Subsidiary may disclose only that portion of such information that its counsel advises is legally required without liability hereunder; provided, that each of the Trust and the Operating Partnership shall exercise, and shall cause any other Subsidiary to exercise, its best efforts to obtain reliable assurance that confidential treatment will be accorded such information. Notwithstanding anything herein to the contrary, each of the following shall be deemed to be excluded from the provisions hereof: any Confidential Information that (A) is available to the public from a source other than the Trust or any Subsidiary, (B) is released in writing by the Manager to the public or to Persons who are not under similar obligation of confidentiality to the Manager, or (C) is obtained by the Trust or any Subsidiary from a third party without breach by such third party of an obligation of confidence with respect to the Confidential Information disclosed. For the avoidance of doubt, information about the systems, employees, policies, procedures and investment portfolio (other than investments in which the Trust or any Subsidiary and the Manager have co-invested) shall be deemed to be included within the meaning of “Confidential Information” for purposes of the Trust’s and the Subsidiaries’ obligations pursuant to this Section 6(b). (c) The provisions of this Section 6 shall survive the expiration or earlier termination of this Agreement for a period of one yeartwo years.

Records; Confidentiality. (a) The Manager shall maintain appropriate books of accounts and records relating to services performed hereunder, and such books of account and records shall be accessible for inspection by representatives of the Trust or any Subsidiary Company Entities at any time during normal business hours upon reasonable advance noticehours. The Manager shall keep confidential any and all non-public information, written or oral, obtained by it in connection with the services rendered hereunder (“Confidential Information”) and shall not use Confidential Information except in furtherance of its duties under this Agreement or disclose Confidential Informationinformation, in whole or in part, to any Person other than (1i) to its Affiliates, managers, Affiliates and the officers, trustees, directors, employees, members, agents, representatives or advisors of the Manager or any of its Affiliates who need to know such Confidential Information information for the purpose of rendering services hereunder, (2ii) to appraisers, financing sources and others in the ordinary course of the Trust’s and any SubsidiaryCompany’s business ((1i) and (2ii) collectively, “Manager Permitted Disclosure Parties”), (3iii) in connection with any governmental or regulatory filings of the Trust Company, or any Subsidiary filings with NASDAQ or disclosure other applicable securities exchange or presentations to Trust investorsmarket, (4iv) in presentations or other disclosures to the Company’s investors (subject to compliance with Regulation FD), (iv) to governmental Governmental officials having jurisdiction over the TrustCompany, (5v) as required requested by law or legal process to which the Manager or any Person to whom disclosure is permitted hereunder is a party, or (6vi) with the consent of the Board of TrusteesCompany. The Manager agrees to will inform each of its Manager Permitted Disclosure Parties of the non-public nature of the Confidential Information and to direct obtain agreement from such Persons to treat such Confidential Information in accordance with the terms hereof. . (b) Nothing herein shall prevent the any Manager Permitted Disclosure Party from disclosing Confidential Information (1i) upon the order of any court or administrative agency, (2ii) upon the request or demand of, or pursuant to any law or regulationregulation to, any regulatory agency or authority, (3iii) to the extent reasonably required in connection with the exercise of any remedy hereunder, or (4iv) to its legal counsel or independent auditors; provided, however, that with respect to clauses (1i) and (2ii), it is agreed that that, so long as not legally prohibited, the Manager will provide the Trust and the Operating Partnership with prompt written notice of such order, request or demand so that the Trust and the Operating Partnership may seek seek, at its sole expense, an appropriate protective order and/or waive the Managerany Manager Permitted Disclosure Party’s compliance with the provisions of this Agreement. If, failing the entry of a protective order or the receipt of a waiver hereunder, the Manager is, in the opinion of counsel, is required to disclose Confidential Information, the Manager Permitted Disclosure Party may disclose only that portion of such information that its counsel advises is legally required without liability hereunder; provided, however, that the Manager Permitted Disclosure Party agrees to exercise its best commercially reasonable efforts to obtain reliable assurance that confidential treatment will be accorded such information. . (c) Notwithstanding anything herein to the contrary, each of the following types of Confidential Information shall be deemed to be excluded from the provisions hereof: (i) any Confidential Information that (A) is available to the public from a source other than the ManagerManager or its Affiliates, (Bii) any Confidential Information that is released in writing by any of the Trust Company Entities to the public (except to the extent exempt under, and in compliance with, Regulation FD) or to Persons persons who are not under similar obligation of confidentiality to any of the Trust Company Entities; and the Subsidiaries, or (Ciii) any Confidential information that is obtained by the Manager from a third party without which, to the Manager’s knowledge, does not constitute a breach by such third party of an obligation of confidence with respect to the Confidential Information disclosed. (b) Each of the Trust and the Operating Partnership shall keep confidential, and shall cause any other Subsidiary to keep confidential, any and all Confidential Information and shall not use, and shall cause any other Subsidiary not to use, Confidential Information except in furtherance of the terms of this Agreement or disclose Confidential Information, in whole or in part, to any Person other than (1) to its Affiliates, officers, trustees, directors, employees, members, agents, representatives or advisors who need to know such Confidential Information for the purpose of fulfilling the Trust’s and the Operating Partnership’s obligations hereunder (collectively, “Trust Permitted Disclosure Parties”), (2) as required by law or legal process to which the Trust or any Subsidiary or any Person to whom disclosure is permitted hereunder is a party, or (3) with the consent of the Manager. Each of the Trust and the Operating Partnership agrees to (1) inform each of its Trust Permitted Disclosure Parties of the non-public nature of the Confidential Information and to direct such Persons to treat such Confidential Information in accordance with the terms hereof and (2) not disclose any Confidential Information to its Trust Permitted Disclosure Parties upon the termination of this Agreement in accordance with Section 11 hereof. Nothing herein shall prevent the Trust or any Subsidiary from disclosing Confidential Information (1) upon the order of any court or administrative agency, (2) upon the request or demand of, or pursuant to any law or regulation, any regulatory agency or authority, (3) to the extent reasonably required in connection with the exercise of any remedy hereunder, or (4) to its legal counsel or independent auditors; provided, however, that with respect to clauses (1) and (2), it is agreed that the Trust and the Operating Partnership will provide the Manager with prompt written notice of such order, request or demand so that the Manager may seek an appropriate protective order and/or waive the Trust’s and the Operating Partnership’s compliance with the provisions of this Section. If, failing the entry of a protective order or the receipt of a waiver hereunder, the Trust or any Subsidiary is, in the opinion of counsel, required to disclose Confidential Information, the Trust or such Subsidiary may disclose only that portion of such information that its counsel advises is legally required without liability hereunder; provided, that each of the Trust and the Operating Partnership shall exercise, and shall cause any other Subsidiary to exercise, its best efforts to obtain reliable assurance that confidential treatment will be accorded such information. Notwithstanding anything herein to the contrary, each of the following shall be deemed to be excluded from the provisions hereof: any Confidential Information that (A) is available to the public from a source other than the Trust or any Subsidiary, (B) is released in writing by the Manager to the public or to Persons who are not under similar obligation of confidentiality to the Manager, or (C) is obtained by the Trust or any Subsidiary from a third party without breach by such third party of an obligation of confidence with respect to the Confidential Information disclosed. For the avoidance of doubt, information about the systems, employees, policies, procedures and investment portfolio (other than investments in which the Trust or any Subsidiary and the Manager have co-invested) shall be deemed to be included within the meaning of “Confidential Information” for purposes of the Trust’s and the Subsidiaries’ obligations pursuant to this Section 6(b). (cd) The provisions of this Section 6 shall survive the expiration or earlier termination of this Agreement for a period of one yeartwo years thereafter, provided that the parties will maintain trade secrets of the other party identified in writing as trade secrets, and which in fact constitute trade secrets, for a period of no longer than five years thereafter.

Records; Confidentiality. (a) The Manager shall maintain appropriate books of accounts account, records and records files relating to services performed hereunder, and such books of account account, records and records files shall be accessible for inspection by representatives of the Trust Company or any Subsidiary at any time during normal business hours upon reasonable advance written notice. The Manager shall have full responsibility for the maintenance, care and safekeeping of all such books of account, records and files (it being understood that services may be provided with respect to the Company by service providers (for example, administrators, prime brokers and custodians) and so long as such service providers are monitored by the Manager with due care, the Manager shall be in compliance with the foregoing). The Manager shall keep confidential any and all non-public information, written or oral, obtained by it in connection with the services rendered hereunder (“Confidential Information”) and shall not use Confidential Information except in furtherance of its duties under this Agreement or disclose Confidential Information, in whole or in part, to any Person other than (1i) to its Affiliates, managers, officers, trustees, directors, employees, members, agents, representatives representatives, advisors of the Manager or advisors its Affiliates who need to know such Confidential Information for the purpose of rendering services hereunder, (2ii) to appraisers, lenders or other financing sources sources, co-originators, custodians, administrators, brokers, commercial counterparties or any similar entity and others in the ordinary course of the Trust’s and any SubsidiaryCompany’s business ((1i) and (2ii) collectively, “Manager Permitted Disclosure Parties”), (3iii) in connection with any governmental or regulatory filings of the Trust or any Subsidiary Company or disclosure or presentations to Trust investorsCompany investors (subject to compliance with Regulation FD), (4iv) to governmental officials having jurisdiction over the TrustCompany, (5v) as required requested by law or legal process to which the Manager or any Person to whom disclosure is permitted hereunder is a party, (vi) to existing or prospective investors in TPG Funds and their advisors to the extent such persons reasonably request such information, subject to an undertaking of confidentiality, non-disclosure and nonuse, or (6vii) otherwise with the consent of the Board of TrusteesCompany. The Manager agrees to inform each of its Manager Permitted Disclosure Parties of the non-public nature of the Confidential Information and to direct such Persons to treat such Confidential Information in accordance with the terms hereofInformation. Nothing herein shall prevent the Manager from disclosing Confidential Information (1i) upon the order of any court or administrative agency, (2ii) upon the request or demand of, or pursuant to any law or regulationregulation to, any regulatory agency or authority, (3iii) to the extent reasonably required in connection with the exercise of any remedy hereunder, or (4iv) to its legal counsel or independent auditors; provided, however, however that with respect to clauses (1i) and (2ii), it is agreed that that, so long as not legally prohibited, the Manager will provide the Trust and the Operating Partnership Company with prompt written notice within a reasonable period of time of such order, request or demand so that the Trust and the Operating Partnership Company may seek seek, at its sole expense, an appropriate protective order and/or waive the Manager’s compliance with the provisions of this Agreement. If, failing the entry of a protective order or the receipt of a waiver hereunder, the Manager is, in the opinion of counsel, is required to disclose Confidential Information, the Manager may disclose only that portion of such information that its counsel advises is legally required without liability hereunder; provided, that the Manager agrees to exercise its reasonable best efforts to obtain reliable assurance that confidential treatment will be accorded such information. Notwithstanding anything herein to the contrary, each of the following shall be deemed to be excluded from the provisions hereof: any Confidential Information that (A) is available to the public from a source other than the Manager, (B) is released in writing by the Trust Company to the public (except to the extent exempt under Regulation FD) or to Persons persons who are not under a similar obligation of confidentiality to the Trust and the SubsidiariesCompany, or (C) is obtained by the Manager from a third third-party without which, to the best of the Manager’s knowledge, does not constitute a breach by such third party of an obligation of confidence with respect to the Confidential Information disclosed. (b) Each of the Trust and the Operating Partnership shall keep confidential, and shall cause any other Subsidiary to keep confidential, any and all Confidential Information and shall not use, and shall cause any other Subsidiary not to use, Confidential Information except in furtherance of the terms of this Agreement or disclose Confidential Information, in whole or in part, to any Person other than (1) to its Affiliates, officers, trustees, directors, employees, members, agents, representatives or advisors who need to know such Confidential Information for the purpose of fulfilling the Trust’s and the Operating Partnership’s obligations hereunder (collectively, “Trust Permitted Disclosure Parties”), (2) as required by law or legal process to which the Trust or any Subsidiary or any Person to whom disclosure is permitted hereunder is a party, or (3) with the consent of the Manager. Each of the Trust and the Operating Partnership agrees to (1) inform each of its Trust Permitted Disclosure Parties of the nonthird-public nature of the Confidential Information and to direct such Persons to treat such Confidential Information in accordance with the terms hereof and (2) not disclose any Confidential Information to its Trust Permitted Disclosure Parties upon the termination of this Agreement in accordance with Section 11 hereof. Nothing herein shall prevent the Trust or any Subsidiary from disclosing Confidential Information (1) upon the order of any court or administrative agency, (2) upon the request or demand of, or pursuant to any law or regulation, any regulatory agency or authority, (3) to the extent reasonably required in connection with the exercise of any remedy hereunder, or (4) to its legal counsel or independent auditors; provided, however, that with respect to clauses (1) and (2), it is agreed that the Trust and the Operating Partnership will provide the Manager with prompt written notice of such order, request or demand so that the Manager may seek an appropriate protective order and/or waive the Trust’s and the Operating Partnership’s compliance with the provisions of this Section. If, failing the entry of a protective order or the receipt of a waiver hereunder, the Trust or any Subsidiary is, in the opinion of counsel, required to disclose Confidential Information, the Trust or such Subsidiary may disclose only that portion of such information that its counsel advises is legally required without liability hereunder; provided, that each of the Trust and the Operating Partnership shall exercise, and shall cause any other Subsidiary to exercise, its best efforts to obtain reliable assurance that confidential treatment will be accorded such information. Notwithstanding anything herein to the contrary, each of the following shall be deemed to be excluded from the provisions hereof: any Confidential Information that (A) is available to the public from a source other than the Trust or any Subsidiary, (B) is released in writing by the Manager to the public or to Persons who are not under similar obligation of confidentiality to the Manager, or (C) is obtained by the Trust or any Subsidiary from a third party without breach by such third party of an obligation of confidence with respect to the Confidential Information disclosed. For the avoidance of doubt, information about the systems, employees, policies, procedures and investment portfolio (other than investments in which the Trust or any Subsidiary and the Manager have co-invested) shall be deemed to be included within the meaning of “Confidential Information” for purposes of the Trust’s and the Subsidiaries’ obligations pursuant to this Section 6(b). (c) The provisions of this Section 6 5 shall survive the expiration or earlier termination of this Agreement for a period of one year.

Records; Confidentiality. (a) The Manager shall maintain appropriate books of accounts account, records and records files relating to services performed hereunder, and such books of account account, records and records files shall be accessible for inspection by representatives of the Trust Company or any Subsidiary at any time during normal business hours upon reasonable advance written notice. The Manager shall have full responsibility for the maintenance, care and safekeeping of all such books of account, records and files (it being understood that services may be provided with respect to the Company by service providers (e.g., administrators, prime brokers and custodians) and so long as such service providers are monitored by the Manager with due care, the Manager shall be in compliance with the foregoing). The Manager shall keep confidential any and all non-public information, written or oral, obtained by it in connection with the services rendered hereunder (“Confidential Information”) and shall not use Confidential Information except in furtherance of its duties under this Agreement or disclose Confidential Information, in whole or in part, to any Person other than (1i) to its Affiliates, managers, officers, trustees, directors, employees, members, agents, representatives representatives, advisors of the Manager or advisors its Affiliates who need to know such Confidential Information for the purpose of rendering services hereunder, (2ii) to appraisers, lenders or other financing sources sources, co-originators, custodians, administrators, brokers, commercial counterparties or any similar entity and others in the ordinary course of the Trust’s and any SubsidiaryCompany’s business ((1i) and (2ii) collectively, “Manager Permitted Disclosure Parties”), (3iii) in connection with any governmental or regulatory filings of the Trust or any Subsidiary Company or disclosure or presentations to Trust investorsCompany investors (subject to compliance with Regulation FD), (4iv) to governmental officials having jurisdiction over the TrustCompany, (5v) as required requested by law or legal process to which the Manager or any Person to whom disclosure is permitted hereunder is a party, or (6vi) otherwise with the written consent of the Board of TrusteesCompany. The Manager agrees to inform each of its Manager Permitted Disclosure Parties of the non-public nature of the Confidential Information and to direct such Persons to treat such Confidential Information in accordance with the terms hereofInformation. Nothing herein shall prevent the Manager from disclosing Confidential Information (1i) upon the order of any court or administrative agency, (2ii) upon the request or demand of, or pursuant to any law or regulationregulation to, any regulatory agency or authority, (3iii) to the extent reasonably required in connection with the exercise of any remedy hereunder, or (4iv) to its legal counsel or independent auditors; provided, however, that with respect to clauses (1i) and (2ii), it is agreed that that, so long as not legally prohibited, the Manager will provide the Trust and the Operating Partnership Company with prompt written notice within a reasonable period of time of such order, request or demand so that the Trust and the Operating Partnership Company may seek seek, at its sole expense, an appropriate protective order and/or waive the Manager’s compliance with the provisions of this Agreement. If, failing the entry of a protective order or the receipt of a waiver hereunder, the Manager is, in the opinion of counsel, is required to disclose Confidential Information, the Manager may disclose only that portion of such information that its counsel advises is legally required without liability hereunder; provided, that the Manager agrees to exercise its reasonable best efforts to obtain reliable assurance that confidential treatment will be accorded such information. Notwithstanding anything herein to the contrary, each of the following shall be deemed to be excluded from the provisions hereof: any Confidential Information that (A) is available to the public from a source other than the Manager, (B) is released in writing by the Trust Company to the public (except to the extent exempt under Regulation FD) or to Persons persons who are not under a similar obligation of confidentiality to the Trust and the SubsidiariesCompany, or (C) is obtained by the Manager from a third third-party without which, to the best of the Manager’s knowledge, does not constitute a breach by such third party of an obligation of confidence with respect to the Confidential Information disclosed. (b) Each of the Trust and the Operating Partnership shall keep confidential, and shall cause any other Subsidiary to keep confidential, any and all Confidential Information and shall not use, and shall cause any other Subsidiary not to use, Confidential Information except in furtherance of the terms of this Agreement or disclose Confidential Information, in whole or in part, to any Person other than (1) to its Affiliates, officers, trustees, directors, employees, members, agents, representatives or advisors who need to know such Confidential Information for the purpose of fulfilling the Trust’s and the Operating Partnership’s obligations hereunder (collectively, “Trust Permitted Disclosure Parties”), (2) as required by law or legal process to which the Trust or any Subsidiary or any Person to whom disclosure is permitted hereunder is a party, or (3) with the consent of the Manager. Each of the Trust and the Operating Partnership agrees to (1) inform each of its Trust Permitted Disclosure Parties of the nonthird-public nature of the Confidential Information and to direct such Persons to treat such Confidential Information in accordance with the terms hereof and (2) not disclose any Confidential Information to its Trust Permitted Disclosure Parties upon the termination of this Agreement in accordance with Section 11 hereof. Nothing herein shall prevent the Trust or any Subsidiary from disclosing Confidential Information (1) upon the order of any court or administrative agency, (2) upon the request or demand of, or pursuant to any law or regulation, any regulatory agency or authority, (3) to the extent reasonably required in connection with the exercise of any remedy hereunder, or (4) to its legal counsel or independent auditors; provided, however, that with respect to clauses (1) and (2), it is agreed that the Trust and the Operating Partnership will provide the Manager with prompt written notice of such order, request or demand so that the Manager may seek an appropriate protective order and/or waive the Trust’s and the Operating Partnership’s compliance with the provisions of this Section. If, failing the entry of a protective order or the receipt of a waiver hereunder, the Trust or any Subsidiary is, in the opinion of counsel, required to disclose Confidential Information, the Trust or such Subsidiary may disclose only that portion of such information that its counsel advises is legally required without liability hereunder; provided, that each of the Trust and the Operating Partnership shall exercise, and shall cause any other Subsidiary to exercise, its best efforts to obtain reliable assurance that confidential treatment will be accorded such information. Notwithstanding anything herein to the contrary, each of the following shall be deemed to be excluded from the provisions hereof: any Confidential Information that (A) is available to the public from a source other than the Trust or any Subsidiary, (B) is released in writing by the Manager to the public or to Persons who are not under similar obligation of confidentiality to the Manager, or (C) is obtained by the Trust or any Subsidiary from a third party without breach by such third party of an obligation of confidence with respect to the Confidential Information disclosed. For the avoidance of doubt, information about the systems, employees, policies, procedures and investment portfolio (other than investments in which the Trust or any Subsidiary and the Manager have co-invested) shall be deemed to be included within the meaning of “Confidential Information” for purposes of the Trust’s and the Subsidiaries’ obligations pursuant to this Section 6(b). (c) The provisions of this Section 6 5 shall survive the expiration or earlier termination of this Agreement for a period of one year.

Records; Confidentiality. (a) The Manager shall maintain appropriate books of accounts and records relating to services performed hereunder, and such books of account and records shall be accessible for inspection by representatives of the Trust Company or any Subsidiary at any time during normal business hours upon reasonable advance noticehours. The Manager shall keep confidential any and all non-public information, written or oral, obtained by it in connection with the services rendered hereunder (“Confidential Information”) and shall not use Confidential Information except in furtherance of its duties under this Agreement or disclose Confidential Information, in whole or in part, to any Person other than (1i) to its Affiliates, managers, officers, trustees, directors, employees, members, agents, representatives or advisors who need to know such Confidential Information for the purpose of rendering services hereunder, (2ii) to appraisers, financing sources sources, advisors and others in the ordinary course of the Trust’s and any SubsidiaryCompany’s business ((1i) and (2ii) collectively, “Manager Permitted Disclosure Parties”)) , (3iii) in connection with any governmental or regulatory filings of the Trust or any Subsidiary Company or disclosure or presentations to Trust Company investors, (4iv) to governmental officials having jurisdiction over the TrustCompany, (5v) as required requested by law or legal process to which the Manager or any Person to whom disclosure is permitted hereunder is a party, or (6vi) with the consent of the Board of TrusteesCompany. The Manager agrees to inform each of its Manager Permitted Disclosure Parties of the non-public nature of the Confidential Information and to direct such Persons to treat such Confidential Information in accordance with the terms hereof. Nothing herein shall prevent the Manager from disclosing Confidential Information (1i) upon the order of any court or administrative agency, (2ii) upon the request or demand ofof any regulatory agency or authority, or pursuant to any law or regulation, any regulatory agency or authority, (3iii) to the extent reasonably required in connection with the exercise of any remedy hereunder, or (4iv) to its legal counsel or independent auditors; provided, however, however that with respect to clauses (1i) and (2ii), it is agreed that the Manager will provide the Trust and the Operating Partnership Company with prompt written notice of such order, request or demand so that the Trust and the Operating Partnership Company may seek an appropriate protective order and/or waive the Manager’s compliance with the provisions of this Agreement. If, failing the entry of a protective order or the receipt of a waiver hereunder, the Manager is, in the opinion of counsel, required to disclose Confidential Information, the Manager may disclose only that portion of such information that its counsel advises is legally required without liability hereunder; provided, that the Manager agrees to exercise its best efforts to obtain reliable assurance that confidential treatment will be accorded such information. Notwithstanding anything herein to the contrary, each of the following shall be deemed to be excluded from the provisions hereof: any Confidential Information that (A) is available to the public from a source other than the Manager, (B) is released in writing by the Trust Company to the public or to Persons persons who are not under similar obligation of confidentiality to the Trust and the SubsidiariesCompany, or (C) is obtained by the Manager from a third third-party without breach by such third third-party of an obligation of confidence with respect to the Confidential Information disclosed. The provisions of this Agreement shall survive the expiration or earlier termination of this Agreement for a period of one year. (b) Each of the Trust and the Operating Partnership The Company shall keep confidential, and shall cause any other Subsidiary to keep confidential, confidential any and all non-public information regarding the Manager, written or oral, obtained by it in connection with its relationship with the Manager (the “Company Confidential Information Information”) and shall not use, and shall cause any other Subsidiary not to use, use Confidential Information except in furtherance of the terms of this Agreement or disclose Confidential Information, in whole or in part, to any Person other than (1i) to its Affiliates, officers, trustees, directors, employees, members, agents, representatives or advisors who need to know such Confidential Information for the purpose of fulfilling the Trust’s and the Operating Partnership’s obligations hereunder (collectively, “Trust Company Permitted Disclosure Parties”), (2ii) as required requested by law or legal process to which the Trust or any Subsidiary Company or any Person to whom disclosure is permitted hereunder is a party, or (3iii) with the consent of the Manager. Each of the Trust and the Operating Partnership The Company agrees to (1i) inform each of its Trust Company Permitted Disclosure Parties of the non-public nature of the Confidential Information and to direct such Persons to treat such Confidential Information in accordance with the terms hereof and (2ii) not disclose any Confidential Information to its Trust Company Permitted Disclosure Parties upon after the termination or nonrenewal of this Agreement in accordance with Section 11 hereof10. Nothing herein shall prevent the Trust or any Subsidiary Company from disclosing Confidential Information (1i) upon the order of any court or administrative agency, (2ii) upon the request or demand ofof any regulatory agency or authority, or pursuant to any law or regulation, any regulatory agency or authority, (3iii) to the extent reasonably required in connection with the exercise of any remedy hereunder, or (4iv) to its legal counsel or independent auditors; provided, however, however that with respect to clauses (1i) and (2ii), it is agreed that the Trust and the Operating Partnership Company will provide the Manager with prompt written notice of such order, request or demand so that the Manager may seek an appropriate protective order and/or waive the Trust’s and the Operating PartnershipCompany’s compliance with the provisions of this SectionAgreement. If, failing the entry of a protective order or the receipt of a waiver hereunder, the Trust or any Subsidiary Company is, in the opinion of counsel, required to disclose Confidential Information, the Trust or such Subsidiary Company may disclose only that portion of such information that its counsel advises is legally required without liability hereunder; provided, that each of the Trust and the Operating Partnership shall exercise, and shall cause any other Subsidiary Company agrees to exercise, exercise its best efforts to obtain reliable assurance that confidential treatment will be accorded such information. Notwithstanding anything herein to the contrary, each of the following shall be deemed to be excluded from the provisions hereof: any Confidential Information that (A) is available to the public from a source other than the Trust or any SubsidiaryCompany, (B) is released in writing by the Manager to the public or to Persons persons who are not under similar obligation of confidentiality to the Manager, or (C) is obtained by the Trust or any Subsidiary Company from a third third-party without breach by such third third-party of an obligation of confidence with respect to the Confidential Information disclosed. For the avoidance of doubt, information about the systems, employees, policies, procedures and investment portfolio (other than investments in which the Trust or any Subsidiary Company and the Manager have co-invested) of the Manager shall be deemed to be included within the meaning of “Confidential Information” for purposes of the TrustCompany’s and the Subsidiaries’ obligations pursuant to this Section 6(b5(b). (c) The provisions of this Section 6 shall survive the expiration or earlier termination of this Agreement for a period of one year.

Records; Confidentiality. (a) The Manager Advisor shall maintain appropriate books of accounts and records relating to services performed hereunder, and such books of account and records shall be accessible for inspection by representatives of the Trust Company or any Subsidiary at any time during normal business hours upon reasonable advance noticehours. The Manager Advisor shall keep confidential any and all non-public information, written or oral, obtained by it in connection with the services rendered hereunder (“Confidential Information”) and shall not use Confidential Information except in furtherance of its duties under this Agreement or disclose Confidential Information, in whole or in part, to any Person other than (1i) to its Affiliates, managers, officers, trustees, directors, employees, members, agents, representatives or advisors who need to know such Confidential Information for the purpose of rendering services hereunder, (2ii) to appraisers, financing sources and others in the ordinary course of the Trust’s and any SubsidiaryCompany’s business ((1i) and (2ii) collectively, “Manager Advisor Permitted Disclosure Parties”), (3iii) in connection with any governmental or regulatory filings of the Trust Company, or any Subsidiary filings with NASDAQ or other applicable securities exchanges or markets, or disclosure or presentations to Trust investorsCompany investors (subject to compliance with Regulation FD), (4iv) to governmental officials having jurisdiction over the TrustCompany, (5v) as required requested by law or legal process to which the Manager Advisor or any Person to whom disclosure is permitted hereunder is a party, or (6vi) with the consent of the Board of TrusteesCompany. The Manager Advisor agrees to inform each of its Manager Advisor Permitted Disclosure Parties of the non-public nature of the Confidential Information and to direct obtain agreement from such Persons to treat such Confidential Information in accordance with the terms hereof. . (b) Nothing herein shall prevent the Manager any Advisor Permitted Disclosure Party from disclosing Confidential Information (1i) upon the order of any court or administrative agency, (2ii) upon the request or demand of, or pursuant to any law or regulationregulation to, any regulatory agency or authority, (3iii) to the extent reasonably required in connection with the exercise of any remedy hereunder, or (4iv) to its legal counsel or independent auditors; provided, however, that with respect to clauses (1i) and (2ii), it is agreed that that, so long as not legally prohibited, the Manager Advisor will provide the Trust and the Operating Partnership Company with prompt written notice of such order, request or demand so that the Trust and the Operating Partnership Company may seek seek, at its sole expense, an appropriate protective order and/or waive the Manager’s Advisor Permitted Disclosure Party compliance with the provisions of this Agreement. If, failing the entry of a protective order or the receipt of a waiver hereunder, the Manager is, in the opinion of counsel, Advisor Permitted Disclosure Party is required to disclose Confidential Information, the Manager Advisor Permitted Disclosure Party may disclose only that portion of such information that its counsel advises is legally required without liability hereunder; provided, that the Manager Advisor Permitted Disclosure Party agrees to exercise its best commercially reasonable efforts to obtain reliable assurance that confidential treatment will be accorded such information. . (c) Notwithstanding anything herein to the contrary, each of the following shall be deemed to be excluded from the provisions hereof: any Confidential Information that (A) is available to the public from a source other than the ManagerAdvisor, (B) is released in writing by the Trust Company to the public (except to the extent exempt under Regulation FD) or to Persons who are not under similar obligation of confidentiality to the Trust and the SubsidiariesCompany, or (C) is obtained by the Manager Advisor from a third party without breach by such third party of an obligation of confidence with respect which, to the Confidential Information disclosed. (b) Each best of the Trust and the Operating Partnership shall keep confidentialAdvisor’s knowledge, and shall cause any other Subsidiary to keep confidential, any and all Confidential Information and shall does not use, and shall cause any other Subsidiary not to use, Confidential Information except in furtherance of the terms of this Agreement or disclose Confidential Information, in whole or in part, to any Person other than (1) to its Affiliates, officers, trustees, directors, employees, members, agents, representatives or advisors who need to know such Confidential Information for the purpose of fulfilling the Trust’s and the Operating Partnership’s obligations hereunder (collectively, “Trust Permitted Disclosure Parties”), (2) as required by law or legal process to which the Trust or any Subsidiary or any Person to whom disclosure is permitted hereunder is constitute a party, or (3) with the consent of the Manager. Each of the Trust and the Operating Partnership agrees to (1) inform each of its Trust Permitted Disclosure Parties of the non-public nature of the Confidential Information and to direct such Persons to treat such Confidential Information in accordance with the terms hereof and (2) not disclose any Confidential Information to its Trust Permitted Disclosure Parties upon the termination of this Agreement in accordance with Section 11 hereof. Nothing herein shall prevent the Trust or any Subsidiary from disclosing Confidential Information (1) upon the order of any court or administrative agency, (2) upon the request or demand of, or pursuant to any law or regulation, any regulatory agency or authority, (3) to the extent reasonably required in connection with the exercise of any remedy hereunder, or (4) to its legal counsel or independent auditors; provided, however, that with respect to clauses (1) and (2), it is agreed that the Trust and the Operating Partnership will provide the Manager with prompt written notice of such order, request or demand so that the Manager may seek an appropriate protective order and/or waive the Trust’s and the Operating Partnership’s compliance with the provisions of this Section. If, failing the entry of a protective order or the receipt of a waiver hereunder, the Trust or any Subsidiary is, in the opinion of counsel, required to disclose Confidential Information, the Trust or such Subsidiary may disclose only that portion of such information that its counsel advises is legally required without liability hereunder; provided, that each of the Trust and the Operating Partnership shall exercise, and shall cause any other Subsidiary to exercise, its best efforts to obtain reliable assurance that confidential treatment will be accorded such information. Notwithstanding anything herein to the contrary, each of the following shall be deemed to be excluded from the provisions hereof: any Confidential Information that (A) is available to the public from a source other than the Trust or any Subsidiary, (B) is released in writing by the Manager to the public or to Persons who are not under similar obligation of confidentiality to the Manager, or (C) is obtained by the Trust or any Subsidiary from a third party without breach by such third party of an obligation of confidence with respect to the Confidential Information disclosed. For the avoidance of doubt, information about the systems, employees, policies, procedures and investment portfolio (other than investments in which the Trust or any Subsidiary and the Manager have co-invested) shall be deemed to be included within the meaning of “Confidential Information” for purposes of the Trust’s and the Subsidiaries’ obligations pursuant to this Section 6(b). (c) The provisions of this Section 6 Agreement shall survive the expiration or earlier termination of this Agreement for a period of one year.

Records; Confidentiality. (a) The Manager shall maintain appropriate books of accounts and records relating to services performed hereunder, and such books of account and records shall be accessible for inspection by representatives of the Trust or any Subsidiary Company Entities at any time during normal business hours upon reasonable advance noticehours. The Manager shall keep confidential any and all non-public information, written or oral, obtained by it in connection with the services rendered hereunder (“Confidential Information”) and shall not use Confidential Information except in furtherance of its duties under this Agreement or disclose Confidential Information, in whole or in part, to any Person other than (1i) to its Affiliates, managers, officers, trustees, directors, employees, members, agents, representatives or advisors who need to know such Confidential Information for the purpose of rendering services hereunder, (2ii) to appraisers, financing sources and others in the ordinary course of the Trust’s and any SubsidiaryCompany’s business ((1i) and (2ii) collectively, “Manager Permitted Disclosure Parties”), (3iii) in connection with any governmental or regulatory filings of the Trust Company or filings with any Subsidiary applicable Securities Exchange, market, applicable Securities Exchange Listed Company Manual, blue sky manual or reporter, or disclosure or presentations to Trust investorsCompany investors (subject to compliance with Regulation FD), if applicable, (4iv) to governmental officials having jurisdiction over the TrustCompany, (5v) as required requested by law or legal process to which the Manager or any Person to whom disclosure is permitted hereunder is a party, or (6vi) with the consent of the Board of TrusteesCompany. The Manager agrees to inform each of its Manager Permitted Disclosure Parties of the non-public nature of the Confidential Information and to direct obtain agreement from such Persons to treat such Confidential Information in accordance with the terms hereof. . (b) Nothing herein shall prevent the Manager from disclosing Confidential Information (1i) upon the order of any court or administrative agency, (2ii) upon the request or demand of, or pursuant to any law or regulationregulation to, any regulatory agency or authority, (3iii) to the extent reasonably required in connection with the exercise of any remedy hereunder, or (4iv) to its legal counsel or independent auditors; provided, however, however that with respect to clauses (1i) and (2ii), it is agreed that that, so long as not legally prohibited, the Manager will provide the Trust and the Operating Partnership Company with prompt written notice of such order, request or demand so that the Trust and the Operating Partnership Company may seek seek, at its sole expense, an appropriate protective order and/or waive the Manager’s compliance with the provisions of this Agreement. If, failing the entry of a protective order or the receipt of a waiver hereunder, the Manager is, in the opinion of counsel, is required to disclose Confidential Information, the Manager may disclose only that portion of such information that its counsel advises is legally required without liability hereunder; provided, that the Manager agrees to exercise its reasonable best efforts to obtain reliable assurance that confidential treatment will be accorded such information. . (c) Notwithstanding anything herein to the contrary, each of the following shall be deemed to be excluded from the provisions hereofof this Section 5: any Confidential Information that (A) is available to the public from a source other than the Manager, (B) is released in writing by the Trust Company to the public or to Persons persons who are not under similar obligation of confidentiality to the Trust and the SubsidiariesCompany, or (C) is obtained by the Manager from a third party without where such disclosure, to the best of the Manager’s knowledge, does not constitute a breach by such third party of an obligation of confidence with respect to the Confidential Information disclosed. (b) Each of the Trust and the Operating Partnership shall keep confidential, and shall cause any other Subsidiary to keep confidential, any and all Confidential Information and shall not use, and shall cause any other Subsidiary not to use, Confidential Information except in furtherance of the terms of this Agreement or disclose Confidential Information, in whole or in part, to any Person other than (1) to its Affiliates, officers, trustees, directors, employees, members, agents, representatives or advisors who need to know such Confidential Information for the purpose of fulfilling the Trust’s and the Operating Partnership’s obligations hereunder (collectively, “Trust Permitted Disclosure Parties”), (2) as required by law or legal process to which the Trust or any Subsidiary or any Person to whom disclosure is permitted hereunder is a party, or (3) with the consent of the Manager. Each of the Trust and the Operating Partnership agrees to (1) inform each of its Trust Permitted Disclosure Parties of the non-public nature of the Confidential Information and to direct such Persons to treat such Confidential Information in accordance with the terms hereof and (2) not disclose any Confidential Information to its Trust Permitted Disclosure Parties upon the termination of this Agreement in accordance with Section 11 hereof. Nothing herein shall prevent the Trust or any Subsidiary from disclosing Confidential Information (1) upon the order of any court or administrative agency, (2) upon the request or demand of, or pursuant to any law or regulation, any regulatory agency or authority, (3) to the extent reasonably required in connection with the exercise of any remedy hereunder, or (4) to its legal counsel or independent auditors; provided, however, that with respect to clauses (1) and (2), it is agreed that the Trust and the Operating Partnership will provide the Manager with prompt written notice of such order, request or demand so that the Manager may seek an appropriate protective order and/or waive the Trust’s and the Operating Partnership’s compliance with the provisions of this Section. If, failing the entry of a protective order or the receipt of a waiver hereunder, the Trust or any Subsidiary is, in the opinion of counsel, required to disclose Confidential Information, the Trust or such Subsidiary may disclose only that portion of such information that its counsel advises is legally required without liability hereunder; provided, that each of the Trust and the Operating Partnership shall exercise, and shall cause any other Subsidiary to exercise, its best efforts to obtain reliable assurance that confidential treatment will be accorded such information. Notwithstanding anything herein to the contrary, each of the following shall be deemed to be excluded from the provisions hereof: any Confidential Information that (A) is available to the public from a source other than the Trust or any Subsidiary, (B) is released in writing by the Manager to the public or to Persons who are not under similar obligation of confidentiality to the Manager, or (C) is obtained by the Trust or any Subsidiary from a third party without breach by such third party of an obligation of confidence with respect to the Confidential Information disclosed. For the avoidance of doubt, information about the systems, employees, policies, procedures and investment portfolio (other than investments in which the Trust or any Subsidiary and the Manager have co-invested) shall be deemed to be included within the meaning of “Confidential Information” for purposes of the Trust’s and the Subsidiaries’ obligations pursuant to this Section 6(b). (cd) The provisions of this Section 6 Agreement shall survive the expiration or earlier termination of this Agreement for a period of one (1) year; provided that the parties will maintain trade secrets of the other party identified in writing as trade secrets, and which in fact constitute trade secrets, for a period of no longer than five (5) years thereafter.

Records; Confidentiality. (a) The Manager shall maintain appropriate books of accounts and records relating to services performed hereunder, and such books of account and records shall be accessible for inspection by representatives of the Trust or any Subsidiary Company Entities at any time during normal business hours upon reasonable advance noticehours. The Manager shall keep confidential any and all non-public information, written or oral, obtained by it in connection with the services rendered hereunder (“"Confidential Information”") and shall not use Confidential Information except in furtherance of its duties under this Agreement or disclose Confidential Information, in whole or in part, to any Person other than (1i) to its Affiliates, managers, Affiliates and the officers, trustees, directors, employees, members, agents, representatives or advisors of the Manager or any of its Affiliates who need to know such Confidential Information for the purpose of rendering services hereunder, (2ii) to appraisers, financing sources and others in the ordinary course of the Trust’s and any Subsidiary’s Company's business ((1i) and (2ii) collectively, “"Manager Permitted Disclosure Parties”"), (3iii) in connection with any governmental or regulatory filings of the Trust Company, or any Subsidiary filings with the NYSE or disclosure or presentations to Trust investorsother applicable securities market, (4iv) in presentations or other disclosures to the Company's investors (subject to compliance with Regulation FD), (v) to governmental officials having jurisdiction over the TrustCompany, (5vi) as required by law or legal process to which the Manager or any Person to whom disclosure is permitted hereunder is a party, or (6vii) with the consent of the Board of TrusteesCompany. The Manager agrees to will inform each of its Manager Permitted Disclosure Parties of the non-public nature of the Confidential Information and to direct obtain agreement from such Persons to treat such Confidential Information in accordance with the terms hereof. . (b) Nothing herein shall prevent the any Manager Permitted Disclosure Party from disclosing Confidential Information (1i) upon the order of any court or administrative agency, (2ii) upon the request or demand of, or pursuant to any law or regulationregulation to, any regulatory agency or authority, (3iii) to the extent reasonably required in connection with the exercise of any remedy hereunder, or (4iv) to its legal counsel or independent auditors; provided, however, that with respect to clauses (1i) and (2)ii) above, it is agreed that that, so long as not legally prohibited, the Manager will provide the Trust and the Operating Partnership PAC with prompt written notice of such order, request or demand so that the Trust and the Operating Partnership PAC may seek seek, at its sole expense, an appropriate protective order and/or waive the Manager’s any Manager Permitted Disclosure Party's compliance with the provisions of this Agreement. If, failing the entry of a protective order or the receipt of a waiver hereunder, the Manager is, in the opinion of counsel, is required to disclose Confidential Information, the Manager Permitted Disclosure Party may disclose only that portion of such information that its counsel advises is legally required without liability hereunder; providedprovided further, however, that the Manager Permitted Disclosure Party agrees to exercise its best commercially reasonable efforts to obtain reliable assurance that confidential treatment will be accorded such information. . (c) Notwithstanding anything herein to the contrary, each of the following types of Confidential Information shall be deemed to be excluded from the provisions hereof: (i) any Confidential Information that (A) is available to the public from a source other than the Manager, Manager or its Affiliates; (Bii) any Confidential Information that is released in writing by any of the Trust Company Entities to the public (except to the extent exempt under, and in compliance with, Regulation FD) or to Persons persons who are not under similar obligation of confidentiality to any of the Trust Company Entities; and the Subsidiaries, or (Ciii) any Confidential Information that is obtained by the Manager from a third party without which, to the Manager's knowledge, does not constitute a breach by such third party of an obligation of confidence with respect to the Confidential Information disclosed. (b) Each of the Trust and the Operating Partnership shall keep confidential, and shall cause any other Subsidiary to keep confidential, any and all Confidential Information and shall not use, and shall cause any other Subsidiary not to use, Confidential Information except in furtherance of the terms of this Agreement or disclose Confidential Information, in whole or in part, to any Person other than (1) to its Affiliates, officers, trustees, directors, employees, members, agents, representatives or advisors who need to know such Confidential Information for the purpose of fulfilling the Trust’s and the Operating Partnership’s obligations hereunder (collectively, “Trust Permitted Disclosure Parties”), (2) as required by law or legal process to which the Trust or any Subsidiary or any Person to whom disclosure is permitted hereunder is a party, or (3) with the consent of the Manager. Each of the Trust and the Operating Partnership agrees to (1) inform each of its Trust Permitted Disclosure Parties of the non-public nature of the Confidential Information and to direct such Persons to treat such Confidential Information in accordance with the terms hereof and (2) not disclose any Confidential Information to its Trust Permitted Disclosure Parties upon the termination of this Agreement in accordance with Section 11 hereof. Nothing herein shall prevent the Trust or any Subsidiary from disclosing Confidential Information (1) upon the order of any court or administrative agency, (2) upon the request or demand of, or pursuant to any law or regulation, any regulatory agency or authority, (3) to the extent reasonably required in connection with the exercise of any remedy hereunder, or (4) to its legal counsel or independent auditors; provided, however, that with respect to clauses (1) and (2), it is agreed that the Trust and the Operating Partnership will provide the Manager with prompt written notice of such order, request or demand so that the Manager may seek an appropriate protective order and/or waive the Trust’s and the Operating Partnership’s compliance with the provisions of this Section. If, failing the entry of a protective order or the receipt of a waiver hereunder, the Trust or any Subsidiary is, in the opinion of counsel, required to disclose Confidential Information, the Trust or such Subsidiary may disclose only that portion of such information that its counsel advises is legally required without liability hereunder; provided, that each of the Trust and the Operating Partnership shall exercise, and shall cause any other Subsidiary to exercise, its best efforts to obtain reliable assurance that confidential treatment will be accorded such information. Notwithstanding anything herein to the contrary, each of the following shall be deemed to be excluded from the provisions hereof: any Confidential Information that (A) is available to the public from a source other than the Trust or any Subsidiary, (B) is released in writing by the Manager to the public or to Persons who are not under similar obligation of confidentiality to the Manager, or (C) is obtained by the Trust or any Subsidiary from a third party without breach by such third party of an obligation of confidence with respect to the Confidential Information disclosed. For the avoidance of doubt, information about the systems, employees, policies, procedures and investment portfolio (other than investments in which the Trust or any Subsidiary and the Manager have co-invested) shall be deemed to be included within the meaning of “Confidential Information” for purposes of the Trust’s and the Subsidiaries’ obligations pursuant to this Section 6(b). (cd) The provisions of this Section 6 shall survive the expiration or earlier termination of this Agreement for a period of one yeartwo years thereafter, provided that the parties will maintain trade secrets of the other party identified in writing as trade secrets, and which in fact constitute trade secrets, for a period of five years, unless a court of competent jurisdiction determines in a final non-appealable ruling that a lesser time period should apply.

Records; Confidentiality. (a) The Collateral Manager shall maintain appropriate books of accounts account and records relating to services performed hereunder, and such books of account and records shall be accessible for inspection by representatives a representative of the Trust or any Subsidiary Issuer, the Trustee, the Noteholders and the Independent accountants appointed by the Issuer pursuant to the Indenture at any a mutually agreed time during normal business hours and upon reasonable advance not less than five (5) Business Days' prior notice, provided that the Collateral Manager shall not be obligated to provide access to any non-public information if the Collateral Manager in good faith determines that the disclosure of such information would violate any applicable law, regulation or contractual arrangement. At no time will the Collateral Manager make a public announcement concerning the issuance of the Notes, the Collateral Manager's role hereunder or any other aspect of the transactions contemplated by this Agreement and the Indenture without the prior written consent of the Issuer's U.S. counsel (it being understood that general statements regarding the fact that the Collateral Manager is managing assets of the Issuer (either alone or in conjunction with assets of other issuers) that do not refer in any way to the Notes or the offering thereof shall not require such prior consent or notice). (b) The Collateral Manager shall keep confidential any and all non-public informationinformation that is either (i) of a type that the Collateral Manager reasonably believes would ordinarily be considered proprietary or confidential, written or oralconstitutes information pursuant to which the Collateral Manager (or the Collateral Manager on behalf of the Issuer) is bound by an obligation of confidentiality, or (ii) designated as confidential (collectively, "Confidential Information") obtained by it in connection with the services rendered hereunder (“Confidential Information”) and shall not use disclose any such Confidential Information to non-affiliated third parties (which shall in no event be deemed to include Noteholders) except in furtherance of its duties under this Agreement or disclose Confidential Information, in whole or in part, to any Person other than (1) to its Affiliates, managers, officers, trustees, directors, employees, members, agents, representatives or advisors who need to know such Confidential Information for the purpose of rendering services hereunder, (2) to appraisers, financing sources and others in the ordinary course of the Trust’s and any Subsidiary’s business ((1) and (2) collectively, “Manager Permitted Disclosure Parties”), (3) in connection with any governmental or regulatory filings of the Trust or any Subsidiary or disclosure or presentations to Trust investors, (4) to governmental officials having jurisdiction over the Trust, (5) as required by law or legal process to which the Manager or any Person to whom disclosure is permitted hereunder is a party, or (6) with the prior written consent of the Board of Trustees. The Manager agrees to inform each of its Manager Permitted Disclosure Parties of the non-public nature of the Confidential Information and to direct such Persons to treat such Confidential Information in accordance with the terms hereof. Nothing herein shall prevent the Manager from disclosing Confidential Information Issuer (1) upon the order of any court or administrative agency, (2) upon the request or demand of, or pursuant to any law or regulation, any regulatory agency or authority, (3) to the extent reasonably required in connection with the exercise of any remedy hereunder, or (4) to its legal counsel or independent auditors; provided, however, that with respect to clauses (1) and (2), it is agreed that the Manager will provide the Trust and the Operating Partnership with prompt written notice of such order, request or demand so that the Trust and the Operating Partnership may seek an appropriate protective order and/or waive the Manager’s compliance with the provisions of this Agreement. If, failing the entry of a protective order or the receipt of a waiver hereunder, the Manager is, in the opinion of counsel, required to disclose Confidential Information, the Manager may disclose only that portion of such information that its counsel advises is legally required without liability hereunder; provided, that the Manager agrees to exercise its best efforts to obtain reliable assurance that confidential treatment will be accorded such information. Notwithstanding anything herein to the contrary, each of the following shall be deemed to be excluded from the provisions hereof: any Confidential Information that (A) is available to the public from a source other than the Manager, (B) is released in writing by the Trust to the public or to Persons who are not under similar obligation of confidentiality to the Trust and the Subsidiaries, or (C) is obtained by the Manager from a third party without breach by such third party of an obligation of confidence with respect to the Confidential Information disclosed. (b) Each of the Trust and the Operating Partnership shall keep confidential, and shall cause any other Subsidiary to keep confidential, any and all Confidential Information and which consent shall not use, and shall cause any other Subsidiary not to use, Confidential Information except in furtherance of the terms of this Agreement or disclose Confidential Information, in whole or in part, to any Person other than (1) to its Affiliates, officers, trustees, directors, employees, members, agents, representatives or advisors who need to know such Confidential Information for the purpose of fulfilling the Trust’s and the Operating Partnership’s obligations hereunder (collectively, “Trust Permitted Disclosure Parties”be unreasonably withheld), (2) as required by law (including for purposes of avoiding or legal process to which reducing any withholding taxes imposed by any jurisdiction), regulation, court order or the Trust rules or any Subsidiary or any Person to whom disclosure is permitted hereunder is a party, or (3) with the consent of the Manager. Each of the Trust and the Operating Partnership agrees to (1) inform each of its Trust Permitted Disclosure Parties of the non-public nature of the Confidential Information and to direct such Persons to treat such Confidential Information in accordance with the terms hereof and (2) not disclose any Confidential Information to its Trust Permitted Disclosure Parties upon the termination of this Agreement in accordance with Section 11 hereof. Nothing herein shall prevent the Trust or any Subsidiary from disclosing Confidential Information (1) upon the order regulations of any court regulatory or administrative agencyself-regulating organization, (2) upon body or official having jurisdiction over the request Issuer or demand of, or pursuant to any law or regulation, any regulatory agency or authoritythe Collateral Manager, (3) to its and the extent reasonably required Issuer's attorneys, accountants and other professional advisers, (4) to the Manager Related Parties, (5) to any bona fide buyer or potential buyer and any such Person's attorneys and professional advisers in connection with an issuance or sale or potential issuance or sale to such Person of any equity interests of, debt of, or assets owned by the Collateral Manager; provided that each such Person to whom such Confidential Information is so disclosed shall have agreed to maintain the confidentiality thereof pursuant to an agreement containing provisions substantially the same as those of this Section 16, (6) in connection with the exercise enforcement of the Collateral Manager's rights hereunder or in any remedy dispute or proceeding related hereto or to any of the other Transaction Documents, (7) to the Administrator, the Trustee, the Collateral Administrator or any other service provider to the Issuer, (8) to Holders and beneficial owners and potential purchasers of, or placement agent with respect to, any of the Notes or any beneficial interest therein, (9) as required to enable the Collateral Manager to perform its obligations hereunder, (10) such information as shall have been publicly available or (4) to its legal counsel or independent auditors; provided, however, that with respect to clauses (1) and (2), it is agreed that the Trust and the Operating Partnership will provide the Manager with prompt written notice of such order, request or demand so that the Manager may seek an appropriate protective order and/or waive the Trust’s and the Operating Partnership’s compliance with the provisions disclosed other than in violation of this Section. If, failing the entry of a protective order Agreement or the receipt of a waiver hereunderIndenture, the Trust or any Subsidiary is, in the opinion of counsel, required to disclose Confidential Information, the Trust or such Subsidiary may disclose only that portion of (11) such information that its counsel advises was or is legally required without liability hereunderobtained by the Collateral Manager on a non-confidential basis, (12) such information that was or is obtained by the Collateral Manager from a non-affiliated third party; provided, that each such non-affiliated third party is not known by the Collateral Manager to be bound by this Agreement or another confidentiality agreement with the Issuer, (13) such information as any rating agency shall reasonably request in connection with the supplying of credit estimates on any Portfolio Asset, (14) such information as may be necessary or desirable in order for the Collateral Manager to prepare, publish and distribute to any Person any information relating to the investment performance of a particular item of the Trust Collateral (rather than the performance of the pool of Collateral as a whole and the Operating Partnership shall exercise, and shall cause any other Subsidiary to exercise, its best efforts to obtain reliable assurance that confidential treatment will be accorded such information. Notwithstanding anything herein to the contrary, each financial conditions of the following shall Issuer), (15) such information as may be deemed required to be excluded from provided to any Person under the provisions hereof: Indenture, this Agreement or any Confidential Information that related document, (16) in connection with the establishing trading or investment accounts pursuant to Section 2(a)(i) or otherwise in connection with the acquisition, disposition or tender of, or Offer with respect to, a Portfolio Asset by the Issuer. In no event, however, shall the Collateral Manager be required to disclose to any Person any information in violation of (A) is available to any fiduciary duty of the public from a source other than the Trust or any SubsidiaryCollateral Manager, (B) is released in writing by the Manager to the public or to Persons who are not under similar obligation any requirement of confidentiality to the Managerlaw, or (C) is obtained any contractual obligation or confidentiality undertaking applicable to the Collateral Manager or any fund or account managed by the Trust or any Subsidiary from a third party without breach by such third party of an obligation of confidence with respect to the Confidential Information disclosed. For the avoidance of doubt, information about the systems, employees, policies, procedures and investment portfolio (other than investments in which the Trust or any Subsidiary and the Manager have co-invested) shall be deemed to be included within the meaning of “Confidential Information” for purposes of the Trust’s and the Subsidiaries’ obligations pursuant to this Section 6(b)Collateral Manager. (c) The provisions Notwithstanding anything in this Agreement or the Indenture to the contrary, (x) the Collateral Manager and any other Manager Related Party may disclose to any and all Persons, that the Collateral Manager is serving as Collateral Manager of the Issuer and (y) each party hereto (and each of their respective employees, representatives or other agents)may disclose to any and all Persons, without limitation of any kind, the U.S. tax treatment and U.S. tax structure (in each case, under applicable federal, state or local law) of the transactions contemplated by this Section 6 Agreement and all materials of any kind (including opinions or other tax analyses) that are provided to them relating to such U.S. tax treatment and U.S. tax structure; provided that with respect to this clause (y) no party hereto shall survive disclose any other information that is not relevant to understanding the expiration tax treatment or earlier termination tax structure of this Agreement for or the transactions contemplated by this Agreement the disclosure of which is otherwise limited pursuant to this Agreement, or any other information to the extent that such disclosure would result in a period violation of one yearany federal or state securities law.

Records; Confidentiality. (a) The Manager shall maintain appropriate books of accounts and records relating to services performed hereunder, and such books of account and records shall be accessible for inspection by representatives of the Trust or any Subsidiary Company Entities at any time during normal business hours upon reasonable advance noticehours. The Manager shall keep confidential any and all non-public information, written or oral, obtained by it in connection with the services rendered hereunder (“Confidential Information”) and shall not use Confidential Information except in furtherance of its duties under this Agreement or disclose Confidential Information, in whole or in part, to any Person other than (1i) to its Affiliates, managers, Affiliates and the officers, trustees, directors, employees, members, agents, representatives or advisors of the Manager or any of its Affiliates who need to know such Confidential Information for the purpose of rendering services hereunder, (2ii) to appraisers, financing sources and others in the ordinary course of the Trust’s and any SubsidiaryCompany’s business ((1i) and (2ii) collectively, “Manager Permitted Disclosure Parties”), (3iii) in connection with any governmental or regulatory filings of the Trust Company, or any Subsidiary filings with the AMEX or disclosure other applicable securities exchange or presentations to Trust investorsmarket, (4iv) in presentations or other disclosures to the Company’s investors (subject to compliance with Regulation FD), (iv) to governmental officials having jurisdiction over the TrustCompany, (5v) as required by law or legal process to which the Manager or any Person to whom disclosure is permitted hereunder is a party, or (6vi) with the consent of the Board of TrusteesCompany. The Manager agrees to will inform each of its Manager Permitted Disclosure Parties of the non-public nature of the Confidential Information and to direct obtain agreement from such Persons to treat such Confidential Information in accordance with the terms hereof. . (b) Nothing herein shall prevent the any Manager Permitted Disclosure Party from disclosing Confidential Information (1i) upon the order of any court or administrative agency, (2ii) upon the request or demand of, or pursuant to any law or regulationregulation to, any regulatory agency or authority, (3iii) to the extent reasonably required in connection with the exercise of any remedy hereunder, or (4iv) to its legal counsel or independent auditors; provided, however, that with respect to clauses (1i) and (2ii), it is agreed that that, so long as not legally prohibited, the Manager will provide the Trust and the Operating Partnership PAC with prompt written notice of such order, request or demand so that the Trust and the Operating Partnership PAC may seek seek, at its sole expense, an appropriate protective order and/or waive the Managerany Manager Permitted Disclosure Party’s compliance with the provisions of this Agreement. If, failing the entry of a protective order or the receipt of a waiver hereunder, the Manager is, in the opinion of counsel, is required to disclose Confidential Information, the Manager Permitted Disclosure Party may disclose only that portion of such information that its counsel advises is legally required without liability hereunder; provided, however, that the Manager Permitted Disclosure Party agrees to exercise its best commercially reasonable efforts to obtain reliable assurance that confidential treatment will be accorded such information. . (c) Notwithstanding anything herein to the contrary, each of the following types of Confidential Information shall be deemed to be excluded from the provisions hereof: (i) any Confidential Information that (A) is available to the public from a source other than the ManagerManager or its Affiliates, (Bii) any Confidential Information that is released in writing by any of the Trust Company Entities to the public (except to the extent exempt under, and in compliance with, Regulation FD) or to Persons persons who are not under similar obligation of confidentiality to any of the Trust Company Entities; and the Subsidiaries, or (Ciii) any Confidential Information that is obtained by the Manager from a third party without which, to the Manager’s knowledge, does not constitute a breach by such third party of an obligation of confidence with respect to the Confidential Information disclosed. (b) Each of the Trust and the Operating Partnership shall keep confidential, and shall cause any other Subsidiary to keep confidential, any and all Confidential Information and shall not use, and shall cause any other Subsidiary not to use, Confidential Information except in furtherance of the terms of this Agreement or disclose Confidential Information, in whole or in part, to any Person other than (1) to its Affiliates, officers, trustees, directors, employees, members, agents, representatives or advisors who need to know such Confidential Information for the purpose of fulfilling the Trust’s and the Operating Partnership’s obligations hereunder (collectively, “Trust Permitted Disclosure Parties”), (2) as required by law or legal process to which the Trust or any Subsidiary or any Person to whom disclosure is permitted hereunder is a party, or (3) with the consent of the Manager. Each of the Trust and the Operating Partnership agrees to (1) inform each of its Trust Permitted Disclosure Parties of the non-public nature of the Confidential Information and to direct such Persons to treat such Confidential Information in accordance with the terms hereof and (2) not disclose any Confidential Information to its Trust Permitted Disclosure Parties upon the termination of this Agreement in accordance with Section 11 hereof. Nothing herein shall prevent the Trust or any Subsidiary from disclosing Confidential Information (1) upon the order of any court or administrative agency, (2) upon the request or demand of, or pursuant to any law or regulation, any regulatory agency or authority, (3) to the extent reasonably required in connection with the exercise of any remedy hereunder, or (4) to its legal counsel or independent auditors; provided, however, that with respect to clauses (1) and (2), it is agreed that the Trust and the Operating Partnership will provide the Manager with prompt written notice of such order, request or demand so that the Manager may seek an appropriate protective order and/or waive the Trust’s and the Operating Partnership’s compliance with the provisions of this Section. If, failing the entry of a protective order or the receipt of a waiver hereunder, the Trust or any Subsidiary is, in the opinion of counsel, required to disclose Confidential Information, the Trust or such Subsidiary may disclose only that portion of such information that its counsel advises is legally required without liability hereunder; provided, that each of the Trust and the Operating Partnership shall exercise, and shall cause any other Subsidiary to exercise, its best efforts to obtain reliable assurance that confidential treatment will be accorded such information. Notwithstanding anything herein to the contrary, each of the following shall be deemed to be excluded from the provisions hereof: any Confidential Information that (A) is available to the public from a source other than the Trust or any Subsidiary, (B) is released in writing by the Manager to the public or to Persons who are not under similar obligation of confidentiality to the Manager, or (C) is obtained by the Trust or any Subsidiary from a third party without breach by such third party of an obligation of confidence with respect to the Confidential Information disclosed. For the avoidance of doubt, information about the systems, employees, policies, procedures and investment portfolio (other than investments in which the Trust or any Subsidiary and the Manager have co-invested) shall be deemed to be included within the meaning of “Confidential Information” for purposes of the Trust’s and the Subsidiaries’ obligations pursuant to this Section 6(b). (cd) The provisions of this Section 6 shall survive the expiration or earlier termination of this Agreement for a period of one yeartwo years thereafter, provided that the parties will maintain trade secrets of the other party identified in writing as trade secrets, and which in fact constitute trade secrets, for a period of no longer than five years thereafter.

Records; Confidentiality. (a) The Manager shall agrees to maintain appropriate books of accounts and to preserve for the Company such records relating to services performed hereunderas are necessary and proper or required by applicable law, and such books of account and records shall be accessible for inspection by representatives of the Trust Company or any Subsidiary at any time during normal business hours upon reasonable advance written notice. ; provided that, for the avoidance of doubt, such records shall not include, and the Company shall not have access to, without the prior written consent of the Manager , any records of the Manager not relating directly to the management of the Company, any records maintained by the Manager for its own behalf or for its other clients, or any proprietary information of the Manager. (b) The Manager shall keep confidential any and all non-public information, written or oral, information obtained by it in connection with the services rendered hereunder under this Agreement (“Confidential Information”) and shall not use disclose any such Confidential Information (or use the same except in furtherance of its duties under this Agreement or disclose Confidential Information, in whole or in part, to any Person other than (1Agreement) to its Affiliatesunaffiliated third parties except (i) with the prior written consent of the Board of Directors; (ii) to legal counsel, managers, officers, trustees, directors, employees, members, agents, representatives or advisors who need to know such Confidential Information for the purpose of rendering services hereunder, accountants and other professional advisors; (2iii) to appraisers, financing sources and others in the ordinary course of the TrustCompany’s and business; (iv) to governmental officials having jurisdiction over the Company or any Subsidiary’s business ; ((1) and (2) collectively, “Manager Permitted Disclosure Parties”), (3v) in connection with any governmental or regulatory filings of the Trust Company or any Subsidiary or disclosure or presentations to Trust investors, the Company’s stockholders or prospective stockholders; (4) to governmental officials having jurisdiction over the Trust, (5vi) as required by law or legal process to which the Manager or any Person to whom disclosure is permitted hereunder is a party, ; or (6) with the consent of the Board of Trustees. The Manager agrees to inform each of its Manager Permitted Disclosure Parties of the non-public nature of the Confidential Information and to direct such Persons to treat such Confidential Information in accordance with the terms hereof. Nothing herein shall prevent the Manager from disclosing Confidential Information (1) upon the order of any court or administrative agency, (2) upon the request or demand of, or pursuant to any law or regulation, any regulatory agency or authority, (3vii) to the extent reasonably required in connection with the exercise of any remedy hereunder, or (4) to its legal counsel or independent auditors; provided, however, that with respect to clauses (1) and (2), it is agreed that the Manager will provide the Trust and the Operating Partnership with prompt written notice of such order, request or demand so that the Trust and the Operating Partnership may seek an appropriate protective order and/or waive the Manager’s compliance with the provisions of this Agreement. If, failing the entry of a protective order or the receipt of a waiver hereunder, the Manager is, in the opinion of counsel, required to disclose Confidential Information, the Manager may disclose only that portion of such information that its counsel advises is legally required without liability hereunder; provided, that the Manager agrees to exercise its best efforts to obtain reliable assurance that confidential treatment will be accorded such informationotherwise publicly available. Notwithstanding anything herein to the contrary, each of the following shall be deemed to be excluded from the provisions hereof: any Confidential Information that (A) is has become publicly available to through the public from actions of a source Person other than the Manager, (B) is released in writing by the Trust Company or any Subsidiary to the public or to Persons who are not under a similar obligation of confidentiality to the Trust Company and the its Subsidiaries, or (C) is obtained by the Manager from a third party without breach by such third party of an obligation of confidence with respect to the Confidential Information disclosed. (b) Each of the Trust and the Operating Partnership shall keep confidential, and shall cause any other Subsidiary to keep confidential, any and all Confidential Information and shall not use, and shall cause any other Subsidiary not to use, Confidential Information except in furtherance of the terms of this Agreement or disclose Confidential Information, in whole or in part, to any Person other than (1) to its Affiliates, officers, trustees, directors, employees, members, agents, representatives or advisors who need to know such Confidential Information for the purpose of fulfilling the Trust’s and the Operating Partnership’s obligations hereunder (collectively, “Trust Permitted Disclosure Parties”), (2) as required by law or legal process to which the Trust or any Subsidiary or any Person to whom disclosure is permitted hereunder is a party, or (3) with the consent of the Manager. Each of the Trust and the Operating Partnership agrees to (1) inform each of its Trust Permitted Disclosure Parties of the non-public nature of the Confidential Information and to direct such Persons to treat such Confidential Information in accordance with the terms hereof and (2) not disclose any Confidential Information to its Trust Permitted Disclosure Parties upon the termination of this Agreement in accordance with Section 11 hereof. Nothing herein shall prevent the Trust or any Subsidiary from disclosing Confidential Information (1) upon the order of any court or administrative agency, (2) upon the request or demand of, or pursuant to any law or regulation, any regulatory agency or authority, (3) to the extent reasonably required in connection with the exercise of any remedy hereunder, or (4) to its legal counsel or independent auditors; provided, however, that with respect to clauses (1) and (2), it is agreed that the Trust and the Operating Partnership will provide the Manager with prompt written notice of such order, request or demand so that the Manager may seek an appropriate protective order and/or waive the Trust’s and the Operating Partnership’s compliance with the provisions of this Section. If, failing the entry of a protective order or the receipt of a waiver hereunder, the Trust or any Subsidiary is, in the opinion of counsel, required to disclose Confidential Information, the Trust or such Subsidiary may disclose only that portion of such information that its counsel advises is legally required without liability hereunder; provided, that each of the Trust and the Operating Partnership shall exercise, and shall cause any other Subsidiary to exercise, its best efforts to obtain reliable assurance that confidential treatment will be accorded such information. Notwithstanding anything herein to the contrary, each of the following shall be deemed to be excluded from the provisions hereof: any Confidential Information that (A) is available to the public from a source other than the Trust or any Subsidiary, (B) is released in writing by the Manager to the public or to Persons who are not under similar obligation of confidentiality to the Manager, or (C) is obtained by the Trust or any Subsidiary from a third party without breach by such third party of an obligation of confidence with respect to the Confidential Information disclosed. For the avoidance of doubt, information about the systems, employees, policies, procedures and investment portfolio (other than investments in which the Trust or any Subsidiary and the Manager have co-invested) shall be deemed to be included within the meaning of “Confidential Information” for purposes of the Trust’s and the Subsidiaries’ obligations pursuant to this Section 6(b). (c) The provisions of this Section 6 shall survive the expiration or earlier termination of this Agreement for a period of one year.

Records; Confidentiality. (a) The Manager shall maintain appropriate books of accounts and records relating to services performed hereunder, and such books of account and records shall be accessible for inspection by representatives of the Trust Company or any Subsidiary at any time during normal business hours upon reasonable advance noticehours. The Manager shall keep confidential any and all non-public information, written or oral, obtained by it in connection with the services rendered hereunder (“Confidential Information”) and shall not use Confidential Information except in furtherance of its duties under this Agreement or disclose Confidential Information, in whole or in part, to any Person other than (1i) to its Affiliates, managers, officers, trustees, directors, employees, members, agents, representatives or advisors who need to know such Confidential Information for the purpose of rendering services hereunder, (2ii) to appraisers, financing sources and others in the ordinary course of the Trust’s and any SubsidiaryCompany’s business ((1i) and (2ii) collectively, “Manager Permitted Disclosure Parties”)) , (3iii) in connection with any governmental or regulatory filings of the Trust or any Subsidiary Company or disclosure or presentations to Trust Company investors, (4iv) to governmental officials having jurisdiction over the TrustCompany, (5v) as required requested by law or legal process to which the Manager or any Person to whom disclosure is permitted hereunder is a party, or (6vi) with the consent of the Board of TrusteesCompany. The Manager agrees to inform each of its Manager Permitted Disclosure Parties of the non-public nature of the Confidential Information and to direct such Persons to treat such Confidential Information in accordance with the terms hereof. Nothing herein shall prevent the Manager from disclosing Confidential Information (1i) upon the order of any court or administrative agency, (2ii) upon the request or demand of, or pursuant to any law or regulation, any regulatory agency or authority, (3iii) to the extent reasonably required in connection with the exercise of any remedy hereunder, or (4iv) to its legal counsel or independent auditors; provided, however, however that with respect to clauses (1i) and (2ii), it is agreed that the Manager will provide the Trust and the Operating Partnership Company with prompt written notice of such order, request or demand so that the Trust and the Operating Partnership Company may seek an appropriate protective order and/or waive the Manager’s compliance with the provisions of this Agreement. If, failing the entry of a protective order or the receipt of a waiver hereunder, the Manager is, in the opinion of counsel, required to disclose Confidential Information, the Manager may disclose only that portion of such information that its counsel advises is legally required without liability hereunder; provided, that the Manager agrees to exercise its best efforts to obtain reliable assurance that confidential treatment will be accorded such information. Notwithstanding anything herein to the contrary, each of the following shall be deemed to be excluded from the provisions hereof: any Confidential Information that (A) is available to the public from a source other than the Manager, (B) is released in writing by the Trust Company to the public or to Persons persons who are not under similar obligation of confidentiality to the Trust and the SubsidiariesCompany, or (C) is obtained by the Manager from a third third-party without breach by such third third-party of an obligation of confidence with respect to the Confidential Information disclosed. The provisions of this Agreement shall survive the expiration or earlier termination of this Agreement for a period of one year. (b) Each of the Trust and the Operating Partnership The Company shall keep confidential, and shall cause any other Subsidiary to keep confidential, confidential any and all Confidential Information and shall not use, and shall cause any other Subsidiary not to use, use Confidential Information except in furtherance of the terms of this Agreement or disclose Confidential Information, in whole or in part, to any Person other than (1i) to its Affiliates, officers, trustees, directors, employees, members, agents, representatives officers or advisors directors who need to know such Confidential Information for the purpose of fulfilling the Trust’s and the Operating PartnershipCompany’s obligations hereunder (collectively, “Trust Company Permitted Disclosure Parties”), (2ii) as required requested by law or legal process to which the Trust or any Subsidiary Company or any Person to whom disclosure is permitted hereunder is a party, or (3iii) with the consent of the Manager. Each of the Trust and the Operating Partnership The Company agrees to (1i) inform each of its Trust Company Permitted Disclosure Parties of the non-public nature of the Confidential Information and to direct such Persons to treat such Confidential Information in accordance with the terms hereof and (2ii) not disclose any Confidential Information to its Trust Company Permitted Disclosure Parties upon the termination expiration or nonrenewal of this Agreement in accordance with Section 11 hereof10. Nothing herein shall prevent the Trust or any Subsidiary Company from disclosing Confidential Information (1i) upon the order of any court or administrative agency, (2ii) upon the request or demand of, or pursuant to any law or regulation, any regulatory agency or authority, (3iii) to the extent reasonably required in connection with the exercise of any remedy hereunder, or (4iv) to its legal counsel or independent auditors; provided, however, however that with respect to clauses (1i) and (2ii), it is agreed that the Trust and the Operating Partnership Company will provide the Manager with prompt written notice of such order, request or demand so that the Manager may seek an appropriate protective order and/or waive the Trust’s and the Operating PartnershipCompany’s compliance with the provisions of this SectionAgreement. If, failing the entry of a protective order or the receipt of a waiver hereunder, the Trust or any Subsidiary Company is, in the opinion of counsel, required to disclose Confidential Information, the Trust or such Subsidiary Company may disclose only that portion of such information that its counsel advises is legally required without liability hereunder; provided, that each of the Trust and the Operating Partnership shall exercise, and shall cause any other Subsidiary Company agrees to exercise, exercise its best efforts to obtain reliable assurance that confidential treatment will be accorded such information. Notwithstanding anything herein to the contrary, each of the following shall be deemed to be excluded from the provisions hereof: any Confidential Information that (A) is available to the public from a source other than the Trust or any SubsidiaryCompany, (B) is released in writing by the Manager to the public or to Persons persons who are not under similar obligation of confidentiality to the Manager, or (C) is obtained by the Trust or any Subsidiary Company from a third third-party without breach by such third third-party of an obligation of confidence with respect to the Confidential Information disclosed. For the avoidance of doubt, information about the systems, employees, policies, procedures and investment portfolio (other than investments in which the Trust or any Subsidiary Company and the Manager have co-invested) shall be deemed to be included within the meaning of “Confidential Information” for purposes of the TrustCompany’s and the Subsidiaries’ obligations pursuant to this Section 6(b5(b). (c) The provisions of this Section 6 shall survive the expiration or earlier termination of this Agreement for a period of one year.

Records; Confidentiality. (a) The Manager shall maintain appropriate books of accounts and records relating to services performed hereunder, and such books of account and records shall be accessible for inspection by representatives of the Trust Company or any Subsidiary at any time during normal business hours upon reasonable advance noticehours. The Manager shall keep confidential any and all non-public information, written or oral, obtained by it in connection with the services rendered hereunder (“Confidential Information”) and shall not use Confidential Information except in furtherance of its duties under this Agreement or disclose Confidential Information, in whole or in part, to any Person other than (1i) to its Affiliates, managers, officers, trustees, directors, employees, members, agents, representatives or advisors who need to know such Confidential Information for the purpose of rendering services hereunder, (2ii) to appraisers, financing sources sources, advisors and others in the ordinary course of the Trust’s and any SubsidiaryCompany’s business ((1i) and (2ii) collectively, “Manager Permitted Disclosure Parties”)) , (3iii) in connection with any governmental or regulatory filings of the Trust or any Subsidiary Company or disclosure or presentations to Trust Company investors, (4iv) to governmental officials having jurisdiction over the TrustCompany, (5v) as required requested by law or legal process to which the Manager or any Person to whom disclosure is permitted hereunder is a party, or (6vi) with the consent of the Board of TrusteesCompany. The Manager agrees to inform each of its Manager Permitted Disclosure Parties of the non-public nature of the Confidential Information and to direct such Persons to treat such Confidential Information in accordance with the terms hereof. Nothing herein shall prevent the Manager from disclosing Confidential Information (1i) upon the order of any court or administrative agency, (2ii) upon the request or demand ofof any regulatory agency or authority, or pursuant to any law or regulation, any regulatory agency or authority, (3iii) to the extent reasonably required in connection with the exercise of any remedy hereunder, or (4iv) to its legal counsel or independent auditors; provided, however, however that with respect to clauses (1i) and (2ii), it is agreed that the Manager will provide the Trust and the Operating Partnership Company with prompt written notice of such order, request or demand so that the Trust and the Operating Partnership Company may seek an appropriate protective order and/or waive the Manager’s 's compliance with the provisions of this Agreement. If, failing the entry of a protective order or the receipt of a waiver hereunder, the Manager is, in the opinion of counsel, required to disclose Confidential Information, the Manager may disclose only that portion of such information that its counsel advises is legally required without liability hereunder; provided, that the Manager agrees to exercise its best efforts to obtain reliable assurance that confidential treatment will be accorded such information. Notwithstanding anything herein to the contrary, each of the following shall be deemed to be excluded from the provisions hereof: any Confidential Information that (A) is available to the public from a source other than the Manager, (B) is released in writing by the Trust Company to the public or to Persons persons who are not under similar obligation of confidentiality to the Trust and the SubsidiariesCompany, or (C) is obtained by the Manager from a third third-party without breach by such third third-party of an obligation of confidence with respect to the Confidential Information disclosed. The provisions of this Agreement shall survive the expiration or earlier termination of this Agreement for a period of one year. (b) Each of the Trust and the Operating Partnership The Company shall keep confidential, and shall cause any other Subsidiary to keep confidential, confidential any and all non-public information regarding the Manager, written or oral, obtained by it in connection with its relationship with the Manager (the “Company Confidential Information Information”) and shall not use, and shall cause any other Subsidiary not to use, use Confidential Information except in furtherance of the terms of this Agreement or disclose Confidential Information, in whole or in part, to any Person other than (1i) to its Affiliates, officers, trustees, directors, employees, members, agents, representatives or advisors who need to know such Confidential Information for the purpose of fulfilling the Trust’s and the Operating Partnership’s obligations hereunder (collectively, “Trust Company Permitted Disclosure Parties”), (2ii) as required requested by law or legal process to which the Trust or any Subsidiary Company or any Person to whom disclosure is permitted hereunder is a party, or (3iii) with the consent of the Manager. Each of the Trust and the Operating Partnership The Company agrees to (1i) inform each of its Trust Company Permitted Disclosure Parties of the non-public nature of the Confidential Information and to direct such Persons to treat such Confidential Information in accordance with the terms hereof and (2ii) not disclose any Confidential Information to its Trust Company Permitted Disclosure Parties upon after the termination or nonrenewal of this Agreement in accordance with Section 11 hereof10. Nothing herein shall prevent the Trust or any Subsidiary Company from disclosing Confidential Information (1i) upon the order of any court or administrative agency, (2ii) upon the request or demand ofof any regulatory agency or authority, or pursuant to any law or regulation, any regulatory agency or authority, (3iii) to the extent reasonably required in connection with the exercise of any remedy hereunder, or (4iv) to its legal counsel or independent auditors; provided, however, however that with respect to clauses (1i) and (2ii), it is agreed that the Trust and the Operating Partnership Company will provide the Manager with prompt written notice of such order, request or demand so that the Manager may seek an appropriate protective order and/or waive the Trust’s and the Operating Partnership’s Company's compliance with the provisions of this SectionAgreement. If, failing the entry of a protective order or the receipt of a waiver hereunder, the Trust or any Subsidiary Company is, in the opinion of counsel, required to disclose Confidential Information, the Trust or such Subsidiary Company may disclose only that portion of such information that its counsel advises is legally required without liability hereunder; provided, that each of the Trust and the Operating Partnership shall exercise, and shall cause any other Subsidiary Company agrees to exercise, exercise its best efforts to obtain reliable assurance that confidential treatment will be accorded such information. Notwithstanding anything herein to the contrary, each of the following shall be deemed to be excluded from the provisions hereof: any Confidential Information that (A) is available to the public from a source other than the Trust or any SubsidiaryCompany, (B) is released in writing by the Manager to the public or to Persons persons who are not under similar obligation of confidentiality to the Manager, or (C) is obtained by the Trust or any Subsidiary Company from a third third-party without breach by such third third-party of an obligation of confidence with respect to the Confidential Information disclosed. For the avoidance of doubt, information about the systems, employees, policies, procedures and investment portfolio (other than investments in which the Trust or any Subsidiary Company and the Manager have co-invested) of the Manager shall be deemed to be included within the meaning of “Confidential Information” for purposes of the TrustCompany’s and the Subsidiaries’ obligations pursuant to this Section 6(b5(b). (c) The provisions of this Section 6 shall survive the expiration or earlier termination of this Agreement for a period of one year.

Records; Confidentiality. (a) The Manager shall maintain appropriate books of accounts and records relating to services performed hereunder, and such books of account and records shall be accessible for inspection by representatives of the Trust Company or any Subsidiary at any time during normal business hours upon reasonable advance noticehours. The Manager shall keep confidential any and all non-public information, written or oral, obtained by it in connection with the services rendered hereunder (“Company Confidential Information”) and shall not use Company Confidential Information except in furtherance of its duties under this Agreement or disclose Company Confidential Information, in whole or in part, to any Person other than (1i) to its Affiliates, managers, officers, trustees, directors, employees, members, agents, representatives or advisors who need to know such Company Confidential Information for the purpose of rendering services hereunder, (2ii) to appraisers, financing sources and others in the ordinary course of the Trust’s and any SubsidiaryCompany’s business ((1i) and (2ii) collectively, “Manager Permitted Disclosure Parties”), (3iii) in connection with any governmental or regulatory filings of the Trust or any Subsidiary Company or disclosure or presentations to Trust Company investors, (4iv) to governmental officials having jurisdiction over the TrustCompany, (5v) as required requested by law or legal process to which the Manager or any Person to whom disclosure is permitted hereunder is a party, or (6vi) with the consent of the Board of TrusteesCompany. The Manager agrees to inform each of its Manager Permitted Disclosure Parties of the non-public nature of the Company Confidential Information and to direct such Persons to treat such Company Confidential Information in accordance with the terms hereof. . (b) Nothing herein shall prevent the Manager from disclosing Company Confidential Information (1i) upon the order of any court or administrative agency, (2ii) upon the request or demand of, or pursuant to any law or regulation, any regulatory agency or authority, (3iii) to the extent reasonably required in connection with the exercise of any remedy hereunder, or (4iv) to its legal counsel or independent auditors; provided, however, however that with respect to clauses (1i) and (2ii), it is agreed that that, so long as not legally prohibited, the Manager will provide the Trust and the Operating Partnership Company with prompt written notice of such order, request or demand so that the Trust and the Operating Partnership Company may seek seek, at its sole expense, an appropriate protective order and/or waive the Manager’s compliance with the provisions of this Agreement. If, failing the entry of a protective order or the receipt of a waiver hereunder, the Manager is, in the opinion of counsel, is required to disclose Company Confidential Information, the Manager may disclose only that portion of such information that its counsel advises is legally required without liability hereunder; provided, that the Manager agrees to exercise its best commercially reasonable efforts to obtain reliable assurance that confidential treatment will be accorded such information. . (c) Notwithstanding anything herein to the contrary, each of the following shall be deemed to be excluded from the provisions hereof: any Company Confidential Information that (Ai) is available to the public from a source other than the Manager (not resulting from the Manager’s violation of this Section 5), (Bii) is released in writing by the Trust Company to the public or to Persons persons who are not under similar obligation of confidentiality to the Trust and the SubsidiariesCompany, or (Ciii) is obtained by the Manager (not resulting from the Manager’s violation of this Section 5) from a third third-party without which, to the best of the Manager’s knowledge, does not constitute a breach by such third third-party of an obligation of confidence with respect to the Confidential Information disclosed. (b) Each of the Trust and the Operating Partnership shall keep confidential, and shall cause any other Subsidiary to keep confidential, any and all Confidential Information and shall not use, and shall cause any other Subsidiary not to use, Confidential Information except in furtherance of the terms of this Agreement or disclose Confidential Information, in whole or in part, to any Person other than (1) to its Affiliates, officers, trustees, directors, employees, members, agents, representatives or advisors who need to know such Confidential Information for the purpose of fulfilling the Trust’s and the Operating Partnership’s obligations hereunder (collectively, “Trust Permitted Disclosure Parties”), (2) as required by law or legal process to which the Trust or any Subsidiary or any Person to whom disclosure is permitted hereunder is a party, or (3) with the consent of the Manager. Each of the Trust and the Operating Partnership agrees to (1) inform each of its Trust Permitted Disclosure Parties of the non-public nature of the Confidential Information and to direct such Persons to treat such Confidential Information in accordance with the terms hereof and (2) not disclose any Confidential Information to its Trust Permitted Disclosure Parties upon the termination of this Agreement in accordance with Section 11 hereof. Nothing herein shall prevent the Trust or any Subsidiary from disclosing Confidential Information (1) upon the order of any court or administrative agency, (2) upon the request or demand of, or pursuant to any law or regulation, any regulatory agency or authority, (3) to the extent reasonably required in connection with the exercise of any remedy hereunder, or (4) to its legal counsel or independent auditors; provided, however, that with respect to clauses (1) and (2), it is agreed that the Trust and the Operating Partnership will provide the Manager with prompt written notice of such order, request or demand so that the Manager may seek an appropriate protective order and/or waive the Trust’s and the Operating Partnership’s compliance with the provisions of this Section. If, failing the entry of a protective order or the receipt of a waiver hereunder, the Trust or any Subsidiary is, in the opinion of counsel, required to disclose Confidential Information, the Trust or such Subsidiary may disclose only that portion of such information that its counsel advises is legally required without liability hereunder; provided, that each of the Trust and the Operating Partnership shall exercise, and shall cause any other Subsidiary to exercise, its best efforts to obtain reliable assurance that confidential treatment will be accorded such information. Notwithstanding anything herein to the contrary, each of the following shall be deemed to be excluded from the provisions hereof: any Confidential Information that (A) is available to the public from a source other than the Trust or any Subsidiary, (B) is released in writing by the Manager to the public or to Persons who are not under similar obligation of confidentiality to the Manager, or (C) is obtained by the Trust or any Subsidiary from a third party without breach by such third party of an obligation of confidence with respect to the Company Confidential Information disclosed. For the avoidance of doubt, information about the systems, employees, policies, procedures and investment portfolio (other than investments in which the Trust or any Subsidiary and the Manager have co-invested) shall be deemed to be included within the meaning of “Confidential Information” for purposes of the Trust’s and the Subsidiaries’ obligations pursuant to this Section 6(b). (c) The provisions of this Section 6 5 shall survive the expiration or earlier termination of this Agreement for a period of one year.

Records; Confidentiality. (a) The Collateral Manager shall maintain or cause to be maintained appropriate books of accounts account and records relating to its services performed hereunder, and such books of account and records shall be accessible for inspection by representatives of the Trust or any Subsidiary Issuer, the Trustee, the Holders, and the Independent accountants appointed by the Collateral Manager on behalf of the Issuer pursuant to Article X of the Indenture at any time during normal business hours and upon reasonable advance not less than three Business Days’ prior notice. The Collateral Manager shall keep confidential any and all non-public information, written or oral, information obtained by it in connection with the services rendered hereunder (“Confidential Information”) and shall not use Confidential Information disclose any such information to non-affiliated third parties (excluding any Holders and beneficial owners of Notes) except in furtherance (a) with the prior written consent of its duties under this Agreement or disclose Confidential Information, in whole or in part, to any Person other than (1) to its Affiliates, managers, officers, trustees, directors, employees, members, agents, representatives or advisors who need to know such Confidential Information for the purpose of rendering services hereunderIssuer, (2b) to appraisers, financing sources and others such information as the Rating Agencies shall reasonably request in connection with its rating of the Secured Notes or supplying credit estimates on any obligation included in the ordinary course of the Trust’s and any Subsidiary’s business ((1) and (2) collectively, “Manager Permitted Disclosure Parties”)Assets, (3c) in connection with any governmental establishing trading or regulatory filings investment accounts or otherwise in connection with effecting Transactions on behalf of the Trust Issuer, (d) as required by (i) applicable law, regulation, court order, or a request by a governmental regulatory agency with jurisdiction over the Collateral Manager or any Subsidiary of its Affiliates or disclosure (ii) the rules or presentations to Trust investorsregulations of any self-regulating organization, (4) to governmental officials body or official having jurisdiction over the Trust, (5) as required by law or legal process to which the Collateral Manager or any Person of its Affiliates, (e) to whom disclosure its professional advisors (including, without limitation, legal, tax and accounting advisors), (f) such information as shall have been publicly disclosed other than in known violation of this Agreement or the provisions of the Indenture or shall have been obtained by the Collateral Manager on a non-confidential basis, (g) such information as is permitted hereunder is a partynecessary or appropriate to disclose so that the Collateral Manager may perform its duties hereunder, under the Indenture or any other Transaction Document or (6h) with general performance information which may be used by the consent of the Board of Trustees. The Manager agrees to inform each of Collateral Manager, its Manager Permitted Disclosure Parties of the non-public nature of the Confidential Information and to direct such Persons to treat such Confidential Information in accordance with the terms hereof. Nothing herein shall prevent the Manager from disclosing Confidential Information (1) upon the order of any court Affiliates or administrative agency, (2) upon the request or demand of, or pursuant to any law or regulation, any regulatory agency or authority, (3) to the extent reasonably required Owners in connection with their marketing activities. Notwithstanding the exercise of any remedy hereunder, or (4) to its legal counsel or independent auditors; provided, however, that with respect to clauses (1) and (2)foregoing, it is agreed that the Manager will provide the Trust and the Operating Partnership with prompt written notice of such order, request or demand so that the Trust and the Operating Partnership may seek an appropriate protective order and/or waive the Manager’s compliance with the provisions of this Agreement. If, failing the entry of a protective order or the receipt of a waiver hereunder, the Manager is, in the opinion of counsel, required to disclose Confidential Information, the Collateral Manager may disclose only (a) that portion of such information that its counsel advises it is legally required without liability hereunder; provided, that the Manager agrees to exercise its best efforts to obtain reliable assurance that confidential treatment will be accorded such information. Notwithstanding anything herein to the contrary, each serving as collateral manager of the following shall be deemed to be excluded from the provisions hereof: any Confidential Information that (A) is available to the public from a source other than the ManagerIssuer, (B) is released in writing by the Trust to the public or to Persons who are not under similar obligation of confidentiality to the Trust and the Subsidiaries, or (C) is obtained by the Manager from a third party without breach by such third party of an obligation of confidence with respect to the Confidential Information disclosed. (b) Each the nature, aggregate principal amount and overall performance of the Trust Issuer’s assets, (c) the amount of earnings on the Assets, (d) such other information about the Issuer, the Assets and the Operating Partnership shall keep confidentialNotes as is customarily disclosed by managers of collateralized loan obligations and (e) each of its respective employees, and shall cause any representatives or other Subsidiary agents may disclose to keep confidential, any and all Confidential Information Persons, without limitation of any kind, the U.S. federal income tax treatment and U.S. federal income tax structure of the transactions contemplated by the Indenture, this Agreement and the related documents and all materials of any kind (including opinions and other tax analyses) that are provided to them relating to such U.S. federal income tax treatment and U.S. income tax structure. For purposes of this Section 6, the Holders shall not usebe considered “non-affiliated third parties.” Nothing in this Section 6 prohibits any Person from reporting possible violations of federal law or regulation to any governmental agency or entity, including but not limited to the Department of Justice, the Securities and Exchange Commission, the United States Congress, and shall cause any other Subsidiary not to use, Confidential Information except in furtherance of the terms of this Agreement or disclose Confidential Information, in whole or in part, to any Person other than (1) to its Affiliates, officers, trustees, directors, employees, members, agents, representatives or advisors who need to know such Confidential Information for the purpose of fulfilling the Trust’s and the Operating Partnership’s obligations hereunder (collectively, “Trust Permitted Disclosure Parties”), (2) as required by law or legal process to which the Trust or any Subsidiary or any Person to whom disclosure is permitted hereunder is a partyagency inspector general, or (3) with making other disclosures that are protected under the consent whistleblower provisions of the Manager. Each of the Trust and the Operating Partnership agrees to (1) inform each of its Trust Permitted Disclosure Parties of the non-public nature of the Confidential Information and to direct such Persons to treat such Confidential Information in accordance with the terms hereof and (2) not disclose any Confidential Information to its Trust Permitted Disclosure Parties upon the termination of this Agreement in accordance with Section 11 hereof. Nothing herein shall prevent the Trust or any Subsidiary from disclosing Confidential Information (1) upon the order of any court or administrative agency, (2) upon the request or demand of, or pursuant to any federal law or regulation, . There is no prior authorization necessary hereunder to make any regulatory agency such reports or authority, (3) disclosures and there is no requirement hereunder to notify the extent reasonably required in connection with the exercise of Collateral Manager that any remedy hereunder, such reports or (4) to its legal counsel or independent auditors; provided, however, that with respect to clauses (1) and (2), it is agreed that the Trust and the Operating Partnership will provide the Manager with prompt written notice of such order, request or demand so that the Manager may seek an appropriate protective order and/or waive the Trust’s and the Operating Partnership’s compliance with the provisions of this Section. If, failing the entry of a protective order or the receipt of a waiver hereunder, the Trust or any Subsidiary is, in the opinion of counsel, required to disclose Confidential Information, the Trust or such Subsidiary may disclose only that portion of such information that its counsel advises is legally required without liability hereunder; provided, that each of the Trust and the Operating Partnership shall exercise, and shall cause any other Subsidiary to exercise, its best efforts to obtain reliable assurance that confidential treatment will be accorded such information. Notwithstanding anything herein to the contrary, each of the following shall be deemed to be excluded from the provisions hereof: any Confidential Information that (A) is available to the public from a source other than the Trust or any Subsidiary, (B) is released in writing by the Manager to the public or to Persons who are not under similar obligation of confidentiality to the Manager, or (C) is obtained by the Trust or any Subsidiary from a third party without breach by such third party of an obligation of confidence with respect to the Confidential Information disclosed. For the avoidance of doubt, information about the systems, employees, policies, procedures and investment portfolio (other than investments in which the Trust or any Subsidiary and the Manager disclosures have co-invested) shall be deemed to be included within the meaning of “Confidential Information” for purposes of the Trust’s and the Subsidiaries’ obligations pursuant to this Section 6(b)been made. (c) The provisions of this Section 6 shall survive the expiration or earlier termination of this Agreement for a period of one year.

Records; Confidentiality. (a) The Manager shall maintain appropriate books of accounts and records relating to services performed hereunder, and such books of account and records shall be accessible for inspection by representatives of the Trust Company or any Subsidiary at any time during normal business hours upon reasonable advance noticehours. The Manager shall keep confidential any and all non-public information, written or oral, obtained by it in connection with the services rendered hereunder (“Confidential Information”) and shall not use Confidential Information except in furtherance of its duties under this Agreement or disclose Confidential Information, in whole or in part, to any Person other than (1i) to its Affiliates, managers, officers, trustees, directors, employees, members, agents, representatives or advisors who need to know such Confidential Information for the purpose of rendering services hereunder, (2ii) to appraisers, financing sources and others in the ordinary course of the Trust’s and any SubsidiaryCompany’s business ((1i) and (2ii) collectively, “Manager Permitted Disclosure Parties”), (3iii) in connection with any governmental or regulatory filings of the Trust or any Subsidiary Company or disclosure or presentations to Trust investorsCompany investors (subject to compliance with Regulation FD), (4iv) to governmental officials having jurisdiction over the TrustCompany, (5v) as required requested by law or legal process to which the Manager or any Person to whom disclosure is permitted hereunder is a party, or (6vi) with the consent of the Board of TrusteesCompany. The Manager agrees to inform each of its Manager Permitted Disclosure Parties of the non-public nature of the Confidential Information and to direct obtain agreement from such Persons to treat such Confidential Information in accordance with the terms hereof. Nothing herein shall prevent the Manager from disclosing Confidential Information (1i) upon the order of any court or administrative agency, (2ii) upon the request or demand of, or pursuant to any law or regulationregulation to, any regulatory agency or authority, (3iii) to the extent reasonably required in connection with the exercise of any remedy hereunder, or (4iv) to its legal counsel or independent auditors; provided, however, however that with respect to clauses (1i) and (2ii), it is agreed that that, so long as not legally prohibited, the Manager will provide the Trust and the Operating Partnership Company with prompt written notice of such order, request or demand so that the Trust and the Operating Partnership Company may seek seek, at its sole expense, an appropriate protective order and/or waive the Manager’s compliance with the provisions of this Agreement. If, failing the entry of a protective order or the receipt of a waiver hereunder, the Manager is, in the opinion of counsel, is required to disclose Confidential Information, the Manager may disclose only that portion of such information that its counsel advises is legally required without liability hereunder; provided, that the Manager agrees to exercise its reasonable best efforts to obtain reliable assurance that confidential treatment will be accorded such information. Notwithstanding anything herein to the contrary, each of the following shall be deemed to be excluded from the provisions hereof: any Confidential Information that (A) is available to the public from a source other than the Manager, (B) is released in writing by the Trust Company to the public (except to the extent exempt under Regulation FD) or to Persons persons who are not under similar obligation of confidentiality to the Trust and the SubsidiariesCompany, or (C) is obtained by the Manager from a third third-party without which, to the best of the Manager’s knowledge, does not constitute a breach by such third party of an obligation of confidence with respect to the Confidential Information disclosed. (b) Each of the Trust and the Operating Partnership shall keep confidential, and shall cause any other Subsidiary to keep confidential, any and all Confidential Information and shall not use, and shall cause any other Subsidiary not to use, Confidential Information except in furtherance of the terms of this Agreement or disclose Confidential Information, in whole or in part, to any Person other than (1) to its Affiliates, officers, trustees, directors, employees, members, agents, representatives or advisors who need to know such Confidential Information for the purpose of fulfilling the Trust’s and the Operating Partnership’s obligations hereunder (collectively, “Trust Permitted Disclosure Parties”), (2) as required by law or legal process to which the Trust or any Subsidiary or any Person to whom disclosure is permitted hereunder is a party, or (3) with the consent of the Manager. Each of the Trust and the Operating Partnership agrees to (1) inform each of its Trust Permitted Disclosure Parties of the nonthird-public nature of the Confidential Information and to direct such Persons to treat such Confidential Information in accordance with the terms hereof and (2) not disclose any Confidential Information to its Trust Permitted Disclosure Parties upon the termination of this Agreement in accordance with Section 11 hereof. Nothing herein shall prevent the Trust or any Subsidiary from disclosing Confidential Information (1) upon the order of any court or administrative agency, (2) upon the request or demand of, or pursuant to any law or regulation, any regulatory agency or authority, (3) to the extent reasonably required in connection with the exercise of any remedy hereunder, or (4) to its legal counsel or independent auditors; provided, however, that with respect to clauses (1) and (2), it is agreed that the Trust and the Operating Partnership will provide the Manager with prompt written notice of such order, request or demand so that the Manager may seek an appropriate protective order and/or waive the Trust’s and the Operating Partnership’s compliance with the provisions of this Section. If, failing the entry of a protective order or the receipt of a waiver hereunder, the Trust or any Subsidiary is, in the opinion of counsel, required to disclose Confidential Information, the Trust or such Subsidiary may disclose only that portion of such information that its counsel advises is legally required without liability hereunder; provided, that each of the Trust and the Operating Partnership shall exercise, and shall cause any other Subsidiary to exercise, its best efforts to obtain reliable assurance that confidential treatment will be accorded such information. Notwithstanding anything herein to the contrary, each of the following shall be deemed to be excluded from the provisions hereof: any Confidential Information that (A) is available to the public from a source other than the Trust or any Subsidiary, (B) is released in writing by the Manager to the public or to Persons who are not under similar obligation of confidentiality to the Manager, or (C) is obtained by the Trust or any Subsidiary from a third party without breach by such third party of an obligation of confidence with respect to the Confidential Information disclosed. For the avoidance of doubt, information about the systems, employees, policies, procedures and investment portfolio (other than investments in which the Trust or any Subsidiary and the Manager have co-invested) shall be deemed to be included within the meaning of “Confidential Information” for purposes of the Trust’s and the Subsidiaries’ obligations pursuant to this Section 6(b). (c) The provisions of this Section 6 Agreement shall survive the expiration or earlier termination of this Agreement for a period of one year.

Records; Confidentiality. (a) The Manager shall maintain appropriate books of accounts account, records and records files relating to any services performed hereunder, and such books of account account, records and records files shall be accessible for inspection by representatives of Residential and each of the Trust or any Subsidiary at any time Subsidiaries during normal business hours upon reasonable advance written notice. The Manager shall keep confidential any and all non-public information, written or oral, obtained by it in connection with the services rendered hereunder (“Confidential Information”) Information and shall not use Confidential Information except in furtherance of its duties under this Agreement or disclose Confidential Information, in whole or in part, to any Person other than (1i) to its Affiliates, managersdirectors, officers, trustees, directors, employees, members, agents, representatives or advisors of the Manager, any Manager Related Party or their Affiliates who need to know such Confidential Information for the purpose of rendering services hereunder, (2ii) to appraisers, lenders or other financing sources sources, commercial counterparties or any similar entity and others in the ordinary course of the TrustResidential’s and any Subsidiary’s the Subsidiaries’ business ((1i) and (2ii) collectively, “Manager Permitted Disclosure Parties”), (3iii) in connection with any governmental or regulatory filings of the Trust Manager, Residential and any of the Subsidiaries (including, if required by law, any filings made by the Manager, Residential or any Subsidiary as a result of its status as a public company) or disclosure or presentations to Trust investorsResidential’s investors (subject to compliance with Regulation FD), (4iv) to governmental officials having jurisdiction over Residential or any the TrustSubsidiaries, (5v) as required requested by law or legal process to which the Manager or any Person to whom disclosure is permitted hereunder is a party, party or (6vi) otherwise with the consent of the Board of TrusteesDirectors. The Manager agrees to shall inform each of its Manager Permitted Disclosure Parties of the non-public nature of the Confidential Information and to direct such Persons to treat such Confidential Information in accordance with the terms hereofInformation. Nothing herein shall prevent the Manager from disclosing Confidential Information (1i) upon the order of any court or administrative agency, (2ii) upon the request or demand of, or pursuant to any law or regulationregulation of, any regulatory agency or authority, (3iii) to the extent reasonably required in connection with the exercise of any remedy hereunder, or (4iv) to its legal counsel or independent auditors; provided, however, that with respect to clauses (1i) and (2ii), it is agreed that that, so long as it is not legally prohibited, the Manager will provide the Trust and the Operating Partnership Board of Directors with prompt written notice notice, within a reasonable period of time of such order, request or demand so that the Trust and the Operating Partnership Residential may seek an appropriate protective order and/or waive the Manager’s compliance with the provisions of this Agreement. If, failing the entry of a protective order or the receipt of a waiver hereunder, the Manager is, in the opinion of counsel, is required to disclose Confidential Information, the Manager may disclose only that portion of such information that its counsel advises is legally required without liability hereunder; provided, provided that the Manager agrees to shall exercise its reasonable best efforts to obtain reliable assurance that confidential treatment will be accorded to such information. Notwithstanding anything herein to the contrary, each of the following shall be deemed to be excluded from the provisions hereof: any Confidential Information that (A) is available to the public from a source other than the Manager, a Manager Related Party or the Affiliates of the Manager, (B) is released in writing by Residential or any of the Trust Subsidiaries to the public (except to the extent exempt under Regulation FD) or to Persons who are not under similar obligation obligations of confidentiality to the Trust Residential and each of the Subsidiaries, or (C) is obtained by the Manager from a third party without Person which, to the best of the Manager’s knowledge, does not constitute a breach by such third party of an obligation of confidence with respect to the Confidential Information disclosed. (b) Each of the Trust and the Operating Partnership shall keep confidential, and shall cause any other Subsidiary to keep confidential, any and all Confidential Information and shall not use, and shall cause any other Subsidiary not to use, Confidential Information except in furtherance of the terms of this Agreement or disclose Confidential Information, in whole or in part, to any Person other than (1) to its Affiliates, officers, trustees, directors, employees, members, agents, representatives or advisors who need to know such Confidential Information for the purpose of fulfilling the Trust’s and the Operating Partnership’s obligations hereunder (collectively, “Trust Permitted Disclosure Parties”), (2) as required by law or legal process to which the Trust or any Subsidiary or any Person to whom disclosure is permitted hereunder is a party, or (3) with the consent of the Manager. Each of the Trust and the Operating Partnership agrees to (1) inform each of its Trust Permitted Disclosure Parties of the non-public nature of the Confidential Information and to direct such Persons to treat such Confidential Information in accordance with the terms hereof and (2) not disclose any Confidential Information to its Trust Permitted Disclosure Parties upon the termination of this Agreement in accordance with Section 11 hereof. Nothing herein shall prevent the Trust or any Subsidiary from disclosing Confidential Information (1) upon the order of any court or administrative agency, (2) upon the request or demand of, or pursuant to any law or regulation, any regulatory agency or authority, (3) to the extent reasonably required in connection with the exercise of any remedy hereunder, or (4) to its legal counsel or independent auditors; provided, however, that with respect to clauses (1) and (2), it is agreed that the Trust and the Operating Partnership will provide the Manager with prompt written notice of such order, request or demand so that the Manager may seek an appropriate protective order and/or waive the Trust’s and the Operating Partnership’s compliance with the provisions of this Section. If, failing the entry of a protective order or the receipt of a waiver hereunder, the Trust or any Subsidiary is, in the opinion of counsel, required to disclose Confidential Information, the Trust or such Subsidiary may disclose only that portion of such information that its counsel advises is legally required without liability hereunder; provided, that each of the Trust and the Operating Partnership shall exercise, and shall cause any other Subsidiary to exercise, its best efforts to obtain reliable assurance that confidential treatment will be accorded such information. Notwithstanding anything herein to the contrary, each of the following shall be deemed to be excluded from the provisions hereof: any Confidential Information that (A) is available to the public from a source other than the Trust or any Subsidiary, (B) is released in writing by the Manager to the public or to Persons who are not under similar obligation of confidentiality to the Manager, or (C) is obtained by the Trust or any Subsidiary from a third party without breach by such third party of an obligation of confidence with respect to the Confidential Information disclosed. For the avoidance of doubt, information about the systems, employees, policies, procedures and investment portfolio (other than investments in which the Trust or any Subsidiary and the Manager have co-invested) shall be deemed to be included within the meaning of “Confidential Information” for purposes of the Trust’s and the Subsidiaries’ obligations pursuant to this Section 6(b). (c) The provisions of this Section 6 10 shall survive the expiration or earlier termination of this Agreement for a period of one year.

Records; Confidentiality. (a) The Manager shall maintain appropriate books of accounts and records relating to services performed hereunder, and such books of account and records shall be accessible for inspection by representatives of the Trust Company or any Subsidiary at any time during normal business hours upon reasonable advance noticehours. The Manager shall keep confidential any and all non-public information, written or oral, obtained by it in connection with the services rendered hereunder (“Confidential Information”) and shall not use Confidential Information except in furtherance of its duties under this Agreement or disclose Confidential Information, in whole or in part, to any Person other than (1i) to its Affiliates, managers, officers, trustees, directors, employees, members, agents, representatives or advisors who need to know such Confidential Information for the purpose of rendering services hereunder, (2ii) to appraisers, financing sources sources, advisors and others in the ordinary course of the TrustCompany’s and business, (iii) to any Subsidiary’s business potential purchaser of one or more of the Existing Investments that executes a Confidentiality Agreement acceptable to the Company ((1i), (ii) and (2iii) collectively, “Manager Permitted Disclosure Parties”), (3iv) in connection with any governmental or regulatory filings of the Trust or any Subsidiary Company or disclosure or presentations to Trust Company investors, (4v) to governmental officials having jurisdiction over the TrustCompany, (5vi) as required requested by law or legal process to which the Manager or any Person to whom disclosure is permitted hereunder is a party, or (6vii) with the consent of the Board of TrusteesCompany. The Manager agrees to inform each of its Manager Permitted Disclosure Parties of the non-public nature of the Confidential Information and to direct such Persons to treat such Confidential Information in accordance with the terms hereof. Nothing herein shall prevent the Manager from disclosing Confidential Information (1i) upon the order of any court or administrative agency, (2ii) upon the request or demand of, or pursuant to any law or regulation, of any regulatory agency or authority, or pursuant to any applicable law or regulation, (3iii) to the extent reasonably required in connection with the exercise of any remedy hereunder, or (4iv) to its legal counsel or independent auditors; provided, however, however that with respect to clauses (1i) and (2ii), it is agreed that the Manager will provide the Trust and the Operating Partnership Company with prompt written notice of such order, request or demand so that the Trust and the Operating Partnership Company may seek an appropriate protective order and/or waive the Manager’s compliance with the provisions of this Agreement. If, failing the entry of a protective order or the receipt of a waiver hereunder, the Manager is, in the opinion of counsel, required to disclose Confidential Information, the Manager may disclose only that portion of such information that its counsel advises is legally required without liability hereunder; provided, that the Manager agrees to exercise its best efforts to obtain reliable assurance that confidential treatment will be accorded such information. Notwithstanding anything herein to the contrary, each of the following shall be deemed to be excluded from the provisions hereof: any Confidential Information that (A) is available to the public from a source other than the Manager, (B) is released in writing by the Trust Company to the public or to Persons persons who are not under similar obligation of confidentiality to the Trust and the SubsidiariesCompany, or (C) is obtained by the Manager from a third third-party without breach by such third third-party of an obligation of confidence with respect to the Confidential Information disclosed. (b) Each of the Trust and the Operating Partnership The Company shall keep confidential, and shall cause any other Subsidiary to keep confidential, confidential any and all non-public information regarding the Manager, written or oral, obtained by it in connection with its relationship with the Manager (the “Manager Confidential Information Information”) and shall not use, and shall cause any other Subsidiary not to use, use such Manager Confidential Information except in furtherance of the terms of this Agreement or disclose such Manager Confidential Information, in whole or in part, to any Person other than (1i) to its Affiliates, officers, trustees, directors, employees, members, agents, representatives or advisors who need to know such Manager Confidential Information for the purpose of fulfilling the Trust’s and the Operating Partnership’s obligations hereunder (collectively, “Trust Company Permitted Disclosure Parties”), (2ii) as required requested by law or legal process to which the Trust or any Subsidiary Company or any Person to whom disclosure is permitted hereunder is a party, or (3iii) with the consent of the Manager. Each of the Trust and the Operating Partnership The Company agrees to (1i) inform each of its Trust Company Permitted Disclosure Parties of the non-public nature of the Manager Confidential Information and to direct such Persons to treat such Manager Confidential Information in accordance with the terms hereof and (2ii) not disclose any Manager Confidential Information to its Trust Company Permitted Disclosure Parties upon after the termination or expiration of this Agreement in accordance with Section 11 hereof10. Nothing herein shall prevent the Trust or any Subsidiary Company from disclosing Manager Confidential Information (1i) upon the order of any court or administrative agency, (2ii) upon the request or demand of, or pursuant to any law or regulation, of any regulatory agency or authority, or pursuant to any applicable law or regulation, (3iii) to the extent reasonably required in connection with the exercise of any remedy hereunder, or (4iv) to its legal counsel or independent auditors; provided, however, however that with respect to clauses (1i) and (2ii), it is agreed that the Trust and the Operating Partnership Company will provide the Manager with prompt written notice of such order, request or demand so that the Manager may seek an appropriate protective order and/or waive the Trust’s and the Operating PartnershipCompany’s compliance with the provisions of this SectionAgreement. If, failing the entry of a protective order or the receipt of a waiver hereunder, the Trust or any Subsidiary Company is, in the opinion of counsel, required to disclose Manager Confidential Information, the Trust or such Subsidiary Company may disclose only that portion of such information that its counsel advises is legally required without liability hereunder; provided, that each of the Trust and the Operating Partnership shall exercise, and shall cause any other Subsidiary Company agrees to exercise, exercise its best efforts to obtain reliable assurance that confidential treatment will be accorded such information. Notwithstanding anything herein to the contrary, each of the following shall be deemed to be excluded from the provisions hereof: any Manager Confidential Information that (A) is available to the public from a source other than the Trust or any SubsidiaryCompany, (B) is released in writing by the Manager to the public or to Persons persons who are not under similar obligation of confidentiality to the Manager, or (C) is obtained by the Trust or any Subsidiary Company from a third third-party without breach by such third third-party of an obligation of confidence with respect to the Manager Confidential Information disclosed. For the avoidance of doubt, information about the systems, employees, policies, procedures and investment portfolio (other than investments in which the Trust or any Subsidiary Company and the Manager have co-invested) of the Manager shall be deemed to be included within the meaning of “Manager Confidential Information” for purposes of the TrustCompany’s and the Subsidiaries’ obligations pursuant to this Section 6(b5(b). (c) The provisions of this Section 6 5 shall survive the expiration or earlier termination of this Agreement for a period of one year.

Records; Confidentiality. (a) The Manager shall maintain appropriate books of accounts and records relating to services performed hereunder, and such books of account and records shall be accessible for inspection by representatives of the Trust Company or any Subsidiary at any time during normal business hours upon reasonable advance notice. . (b) The Manager shall keep confidential any and all non-public information, written or oral, obtained by it in connection with treat the services rendered hereunder (“Confidential Information”) and shall not use Confidential Information as strictly confidential and, except in furtherance of its duties under this Agreement or disclose Confidential Information, in whole or in part, to any Person other than (1) to its Affiliates, managers, officers, trustees, directors, employees, members, agents, representatives or advisors who need to know such Confidential Information for the purpose of rendering services hereunder, (2) to appraisers, financing sources and others extent necessary in the ordinary course of performing its duties for the Trust’s and any Subsidiary’s business ((1) and (2) collectively, “Manager Permitted Disclosure Parties”), (3) in connection with any governmental Company or regulatory filings of the Trust or any Subsidiary or disclosure or presentations to Trust investors, (4) to governmental officials having jurisdiction over the Trust, (5) as required otherwise approved by law or legal process to which the Manager or any Person to whom disclosure is permitted hereunder is a party, or (6) with the consent of the Board of Trustees. The Manager agrees to inform each of its Manager Permitted Disclosure Parties Directors, shall not directly or indirectly: (i) otherwise than in furtherance of the non-public nature of the Company’s business, use any Confidential Information and to direct such Persons to treat such for any purpose; or (ii) disclose in any manner any Confidential Information in accordance with the terms hereof. Nothing herein shall prevent the Manager from disclosing Confidential Information (1) upon the order of any court or administrative agency, (2) upon the request or demand of, or pursuant to any law or regulation, any regulatory agency or authority, (3) to Person. Notwithstanding the extent reasonably required in connection with the exercise of any remedy hereunder, or (4) to its legal counsel or independent auditors; provided, however, that with respect to clauses (1) and (2), it is agreed that the Manager will provide the Trust and the Operating Partnership with prompt written notice of such order, request or demand so that the Trust and the Operating Partnership may seek an appropriate protective order and/or waive the Manager’s compliance with the provisions of this Agreement. If, failing the entry of a protective order or the receipt of a waiver hereunder, the Manager is, in the opinion of counsel, required to disclose Confidential Informationforegoing, the Manager may disclose only that portion Confidential Information to its Affiliates, statistical rating agencies, attorneys, accountants, consultants, advisors and other professionals in connection with their services on behalf of the Company (if such Persons are made aware of the confidential nature of any such Confidential Information and directed to keep such information that its counsel advises is confidential), or in the event and to the extent the Manager becomes legally required without liability hereundercompelled to do so pursuant to applicable law, rule, regulation or court order; provided, that the Manager agrees shall immediately advise the Company of such legal compulsion in order to exercise its best efforts enable the Company, if it so chooses, to obtain reliable assurance that confidential treatment will be accorded apply for a protective order or similar relief. The Manager shall cooperate in all reasonable respects with the Company’s attempts to secure such information. Notwithstanding anything herein protective order or other relief and, if and to the contraryextent that the Company secures the same, each of the following Manager shall be deemed to be excluded comply with such protective order or other relief after notice thereof from the provisions hereof: any Company. (c) The Company shall treat the Confidential Information that (A) is available as strictly confidential and, except to the public from a source other than extent necessary in the ordinary course of its business as contemplated by this Agreement or otherwise approved by the Manager, (B) is released in writing by the Trust to the public or to Persons who are not under similar obligation of confidentiality to the Trust and the Subsidiaries, or (C) is obtained by the Manager from a third party without breach by such third party of an obligation of confidence with respect to the Confidential Information disclosed. (b) Each of the Trust and the Operating Partnership shall keep confidential, and shall cause any other Subsidiary to keep confidential, any and all Confidential Information and shall not use, and shall cause any other Subsidiary not to use, Confidential Information except directly or indirectly: (i) otherwise than in furtherance of the terms of this Agreement Company’s business, use any Confidential Information for any purpose; or (ii) disclose in any manner any Confidential Information to any Person. Notwithstanding the foregoing, the Company may disclose Confidential Information, in whole or in part, to any Person other than (1) Information to its Affiliates, officersstatistical rating agencies, trusteesattorneys, directorsaccountants, employeesconsultants, members, agents, representatives or advisors who need to know and other professionals in connection with their services on behalf of the Company (if such Persons are made aware of the confidential nature of any such Confidential Information for the purpose of fulfilling the Trust’s and the Operating Partnership’s obligations hereunder (collectively, “Trust Permitted Disclosure Parties”directed to keep such information confidential), (2) as required by law or legal process to which in the Trust or any Subsidiary or any Person to whom disclosure is permitted hereunder is a party, or (3) with the consent of the Manager. Each of the Trust event and the Operating Partnership agrees to (1) inform each of its Trust Permitted Disclosure Parties of the non-public nature of the Confidential Information and to direct such Persons to treat such Confidential Information in accordance with the terms hereof and (2) not disclose any Confidential Information to its Trust Permitted Disclosure Parties upon the termination of this Agreement in accordance with Section 11 hereof. Nothing herein shall prevent the Trust or any Subsidiary from disclosing Confidential Information (1) upon the order of any court or administrative agency, (2) upon the request or demand of, or pursuant to any law or regulation, any regulatory agency or authority, (3) to the extent reasonably required in connection with the exercise of any remedy hereunderCompany becomes legally compelled to do so pursuant to applicable law, rule, regulation or (4) to its legal counsel or independent auditorscourt order; provided, however, that with respect to clauses (1) and (2), it is agreed that the Trust and the Operating Partnership will provide Company shall immediately advise the Manager with prompt written notice of such orderlegal compulsion in order to enable the Manager, request or demand if it so that the Manager may seek an appropriate protective order and/or waive the Trust’s and the Operating Partnership’s compliance with the provisions of this Section. Ifchooses, failing the entry of to apply for a protective order or similar relief. The Company shall cooperate in all reasonable respects with the receipt of a waiver hereunderManager’s attempts to secure such protective order or other relief and, if and to the extent that the Manager secures the same, the Trust Company shall comply with such protective order or any Subsidiary is, in the opinion of counsel, required to disclose Confidential Information, the Trust or such Subsidiary may disclose only that portion of such information that its counsel advises is legally required without liability hereunder; provided, that each of the Trust and the Operating Partnership shall exercise, and shall cause any other Subsidiary to exercise, its best efforts to obtain reliable assurance that confidential treatment will be accorded such information. Notwithstanding anything herein to the contrary, each of the following shall be deemed to be excluded relief after notice thereof from the provisions hereof: any Confidential Information that (A) is available to the public from a source other than the Trust or any Subsidiary, (B) is released in writing by the Manager to the public or to Persons who are not under similar obligation of confidentiality to the Manager, or (C) is obtained by the Trust or any Subsidiary from a third party without breach by such third party of an obligation of confidence with respect to the Confidential Information disclosed. For the avoidance of doubt, information about the systems, employees, policies, procedures and investment portfolio (other than investments in which the Trust or any Subsidiary and the Manager have co-invested) shall be deemed to be included within the meaning of “Confidential Information” for purposes of the Trust’s and the Subsidiaries’ obligations pursuant to this Section 6(b). (cd) The provisions of this Section 6 shall survive the expiration or earlier termination of this Agreement for a period of one (1) year.