Authority of Advisor Clause Example from Business Contracts

This example Authority of Advisor clause appears in 3 contracts from 3 companies

Authority of Advisor. (a) Pursuant to the terms of this Agreement (including the restrictions included in this Section 4 and in Section 7), and subject to the continuing and exclusive authority of the Board over the management of the Company, the Board hereby delegates to the Advisor the authority to perform the services described in Section 3. The Advisor shall have the power to delegate all or any part of its rights and powers to perform the services described in Section 3 to such officers, employees, Affiliates, a...gents and representatives of the Advisor or the Company as it may deem appropriate. Any authority delegated by the Advisor to any other Person shall be subject to the limitations on the rights and powers of the Advisor specifically set forth in this Agreement or the Articles of Incorporation. (b) Notwithstanding the foregoing, the Advisor may not take any action on behalf of the Company without the prior approval of the Board or duly authorized committees thereof if the Articles of Incorporation or Maryland General Corporation Law require the prior approval of the Board. The Advisor will deliver to the Board all documents and other information required by the Board to evaluate a proposed investment (and any financing related to such proposed investment). (c) If a transaction requires approval by the Independent Directors, the Advisor will deliver to the Independent Directors all documents and other information required by them to properly evaluate the proposed transaction. (d) The prior approval of a majority of the Independent Directors not otherwise interested in the transaction and a majority of the Board not otherwise interested in the transaction will be required for each transaction to which the Advisor or its Affiliates is a party. (e) The Board may, at any time upon the giving of written notice to the Advisor, modify or revoke the authority or approvals set forth in Section 3 and this Section 4; provided, however, that such modification or revocation shall be effective upon receipt of such notification by the Advisor and shall not be applicable to investment transactions to which the Advisor has committed the Company or the Operating Partnership prior to the date of receipt by the Advisor of such notification. View More
Found in Steadfast Apartment REIT, Inc. contract
Steadfast Income REIT, Inc. Contracts

Amended and Restated Advisory Agreement, dated as of March 5, 2020, by and among Steadfast Apartment REIT, Inc. and Steadfast Apartment Advisor, LLC (Filed With SEC on March 6, 2020)

Steadfast Apartment REIT, Inc. Contracts

Amended and Restated STAR Advisory Agreement, dated as of March 5, 2020, by and between Steadfast Apartment REIT, Inc. and Steadfast Apartment Advisor, LLC (Filed With SEC on March 6, 2020)

Steadfast Apartment REIT III, Inc. Contracts

Amended and Restated Advisory Agreement, dated as of March 5, 2020, by and among Steadfast Apartment REIT, Inc. and Steadfast Apartment Advisor, LLC (Filed With SEC on March 6, 2020)