Common use of Sub-Management Agreement Clause in Contracts

Sub-Management Agreement. The REIT and the Manager expressly acknowledge and agree that, concurrent with this Agreement, the Manager is entering into the Sub-Management Agreement, dated as of even date herewith, by and among the Manager, Xxxxxx Xxxx Blank Check LLC (“Xxxxxx Xxxx”), and Xxxxxxx X. Xxxxxx and Xxxxx X. Xxx (Messrs. Xxxxxx and Ulm, together, the “Manager Shareholders”) (such agreement, the “Sub-Management Agreement”), and nothing to the contrary contained in this Agreement shall limit the ability of the Manager, Xxxxxx Xxxx, or the Manager Shareholders to enter into and perform their respective obligations under such Sub-Management Agreement or otherwise limit the effectiveness of such Sub-Management Agreement. The REIT represents and warrants that the Sub-Management Agreement has been duly authorized and approved by all necessary action of the REIT.

Sub-Management Agreement. The REIT and the Manager expressly acknowledge and agree that, concurrent with this the execution of the First Amended and Restated Agreement, the Manager is entering entered into the Sub-Management Agreement, dated as of even date herewith, by and among the Manager, Xxxxxx Xxxx Blank Check LLC (“Xxxxxx Xxxx”), and Xxxxxxx X. Xxxxxx and Xxxxx X. Xxx (Messrs. Xxxxxx and Ulm, together, the “Manager Shareholders”) (such agreement, the “Sub-Management Agreement”), and nothing to the contrary contained in this Agreement shall limit the ability of the Manager, Xxxxxx Xxxx, or the Manager Shareholders to enter into and perform their respective obligations under such Sub-Management Agreement or otherwise limit the effectiveness of such Sub-Management Agreement. The REIT represents and warrants that the Sub-Management Agreement has been duly authorized and approved by all necessary action of the REIT.