Other Activities of the Advisor. (a) Nothing herein contained shall prevent the Advisor or any of its Affiliates from engaging in or earning fees from other activities, including, without limitation, the rendering of advice to other Persons (including other REITs) and the management of other programs advised, sponsored or organized by the Advisor or its Affiliates; nor shall this Agreement limit or restrict the right of any director, officer, manager, member, partner, employee or stockholder of the Advisor or its Affiliates to
...engage in or earn fees from any other business or to render services of any kind to any other Person and earn fees for rendering such services; provided, however, that the Advisor must devote sufficient resources to the Company's business to discharge its obligations to the Company under this Agreement. The Advisor may, with respect to any Investment in which the Company is a participant, also render advice and service to each and every other participant therein, and earn fees for rendering such advice and service. Specifically, it is contemplated that the Company may enter into joint ventures or other similar co-investment arrangements with certain Persons, and pursuant to the agreements governing such joint ventures or arrangements, the Advisor may be engaged to provide advice and service to such Persons, in which case the Advisor will earn fees for rendering such advice and service. For the avoidance of doubt, it is understood that neither the Company nor the Board has the authority to determine the salary, bonus or any other compensation paid by the Advisor to any Director, officer, member, partner, employee, or stockholder of the Advisor or its Affiliates, including any person who is also a director or officer employee of the Company. 16 (b) The Advisor shall, and shall cause its Affiliates and their respective employees, officers and agents to, devote to the Company such time as shall be reasonably necessary to conduct the business and affairs of the Company in a manner consistent with the terms of this Agreement. The Company acknowledges that the Advisor and its Affiliates and their respective employees, officers and agents may also engage in activities unrelated to the Company and may provide services to Persons other than the Company and its Affiliates. (c) The Advisor shall be required to use commercially reasonable efforts to present continuing and suitable investment opportunities to the Company that are consistent with the investment policies and objectives of the Company, but neither the Advisor nor any Affiliate of the Advisor shall be obligated generally to present any particular investment opportunity to the Company even if the opportunity is of character that, if presented to the Company, could be taken by the Company. In the event an investment opportunity is located, the allocation procedure set forth under the caption "Conflicts of Interest—Conflict Resolution Procedures—Allocation of Investment Opportunities" in the Registration Statement shall govern the allocation of the opportunity among the Company and Affiliates of the Advisor. The Advisor shall be required to notify the Board at least annually of Investments that have been purchased by other entities managed by the Advisor or its Affiliates for determination by the Board that the Advisor is fairly presenting investment opportunities to the Company.
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Other Activities of the Advisor.
(a) Nothing herein contained shall prevent the Advisor or any of its Affiliates from engaging in or earning fees from other activities, including, without limitation, the rendering of advice to other Persons (including other REITs) and the management of other programs advised, sponsored or organized by the Advisor or its Affiliates; nor shall this Agreement limit or restrict the right of any
director, member, manager, Trustee, officer,
manager, member, partner, employee employee, or stockholder
...of the Advisor or its Affiliates to engage in or earn fees from any other business or to render services of any kind to any other Person partnership, Trust, firm, individual, trust or association and earn fees for rendering such services; provided, however, that the Advisor must devote sufficient resources to the Company's business to discharge its obligations to the Company under this Agreement. services. The Advisor may, with respect to any Investment investment in which the Company Trust is a participant, also render advice and service to each and every other participant therein, and earn fees for rendering such advice and service. Specifically, it It is contemplated that the Company Trust may enter into joint ventures or other similar co-investment arrangements with certain Persons, and pursuant to the agreements governing such joint ventures or arrangements, the Advisor may be engaged (directly or indirectly) to provide advice and service to such Persons, in which case the Advisor will earn fees for rendering such advice and service. For The parties to this Agreement hereby acknowledge that the avoidance of doubt, it is understood Advisor may provide advice and render services to Persons that neither will compete with the Company nor Trust for investments. The Advisor shall report to the Board the existence of any condition or circumstance, existing or anticipated, of which it has knowledge, which creates or could create a conflict of interest between the authority Advisor's obligations to determine the salary, bonus Trust and its obligations to or its interest in any other compensation paid by the Advisor to any Director, officer, member, partner, employee, partnership, Trust, limited liability company, firm, individual, trust or stockholder of the association. The Advisor or its Affiliates, including any person who is also a director Affiliates shall promptly disclose to the Board knowledge of such condition or officer employee circumstance. If the Advisor, its members, managers, Trustees, employees or Affiliates thereof have sponsored other investment programs with similar investment objectives which have investment funds available at the same time as the Trust, it shall be the duty of the Company. 16 (b) The Advisor shall, and shall cause its Affiliates and their respective employees, officers and agents to, devote Independent Trustees to the Company such time as shall be reasonably necessary to conduct the business and affairs of the Company in a manner consistent with the terms of this Agreement. The Company acknowledges ensure that the Advisor and 14and its Affiliates and their respective employees, officers and agents may also engage in activities unrelated follow the method approved by the Independent Trustees, by which investments are to be allocated to the Company competing investment entities and may provide services to Persons other than use their reasonable efforts to ensure that such method is applied fairly to the Company and its Affiliates. (c) Trust. The Advisor shall be required to use commercially reasonable efforts to present a continuing and suitable investment opportunities program to the Company that are Trust which is consistent with the investment policies and objectives of the Company, Trust, but neither the Advisor nor any Affiliate of the Advisor shall be obligated generally to present any particular investment opportunity to the Company Trust even if the opportunity is of character that, which, if presented to the Company, Trust, could be taken by the Company. Trust. In the event an investment opportunity is located, the allocation procedure set forth under the caption "Conflicts of Interest—Conflict Resolution Procedures—Allocation Procedures" in any Prospectus (as such procedures may be amended from time to time by a majority of Investment Opportunities" in the Registration Statement Board, including the Independent Trustees) shall govern the allocation of the opportunity among the Company Trust and Affiliates of the Advisor. The Advisor shall be required to notify the Board at least annually of Investments that have been purchased by other entities managed by the Advisor or its Affiliates for determination by the Board that the Advisor is fairly presenting investment opportunities to the Company.
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Other Activities of the Advisor. (a)
Relationship. Nothing herein contained shall prevent the Advisor or any of its Affiliates from engaging in or earning fees from other activities, including, without limitation, the rendering of advice to other Persons (including other REITs) and the management of other programs advised, sponsored or organized by the Advisor or its Affiliates; nor shall this Agreement limit or restrict the right of any director, officer,
manager, member, partner, employee employee, or
stockholder security hol...der of the Advisor or its Affiliates to engage in or earn fees from any other business or to render services of any kind to any other Person partnership, corporation, firm, individual, trust or association and earn fees for rendering such services; provided, however, that the Advisor must devote sufficient resources to the Company's business to discharge its obligations to the Company under this Agreement. services. The Advisor may, with respect to any Investment in which the Company or the Operating Partnership is a participant, also render advice and service to each and every other participant participants therein, and earn fees for rendering such advice and service. Specifically, it is contemplated that the Company may enter into joint ventures or other similar co-investment arrangements with certain Persons, and pursuant to the agreements governing such joint ventures or arrangements, the Advisor may be engaged to provide advice and service to such Persons, in which case the Advisor will earn fees for rendering such advice and service. For the avoidance of doubt, it is understood that neither the Company nor the Board has the authority to determine the salary, bonus or any other compensation paid by the Advisor to any Director, officer, member, partner, employee, or stockholder of the Advisor or its Affiliates, including any person who is also a director or officer employee of the Company. 16 (b) Time Commitment. The Advisor shall, and shall cause its Affiliates and their respective employees, officers and agents to, devote to the Company and the Operating Partnership such time as shall be reasonably necessary to conduct the business and affairs of the Company and Operating Partnership in a an appropriate manner consistent with the terms of this Agreement. The Company acknowledges and the Operating Partnership acknowledge that the Advisor and its Affiliates and their respective employees, officers and agents may also engage in activities unrelated to the Company and Operating Partnership and may provide services to Persons other than the Company and its Affiliates. or the Operating Partnership. (c) Investment Opportunities. The Advisor shall be required to use commercially reasonable its best efforts to present continuing and suitable investment opportunities to the Company that are consistent with and the Operating Partnership a number of potential investment policies and objectives opportunities appropriate for the portfolio of the Company, but neither the Advisor nor any Affiliate of the Advisor shall be obligated generally to present any particular investment opportunity to the Company even if the opportunity is of character that, if presented to the Company, could be taken by the Company. In the event an investment opportunity is located, the allocation procedure set forth under the caption "Conflicts of Interest—Conflict Resolution Procedures—Allocation of Investment Opportunities" in the Registration Statement shall govern the allocation of the opportunity among the Company and Affiliates of the Advisor. Operating Partnership. The Advisor shall be required to notify allocate potential investment opportunities in accordance with the Board at least annually of Investments that have been purchased by other entities managed by the Advisor Advisor's or its Affiliates for determination Affiliate's allocation policies, as such allocation policies may be amended from time to time. Adopted by the Board that of Trustees Effective 1.1.18 15. RELATIONSHIP OF THE PARTIES/NO PARTNERSHIP OR JOINT VENTURE. The Company and the Operating Partnership, on the one hand, and the Advisor is fairly presenting investment opportunities on the other, are not partners or joint venturers with each other, and nothing in this Agreement shall be construed to the Company. make them such partners or joint venturers or impose any liability as such on either of them.
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Other Activities of the Advisor. (a) Nothing herein contained shall prevent the Advisor
or any of its Affiliates from engaging in
or earning fees from other activities, including, without limitation, the rendering of advice to other Persons (including other REITs) and the management of other programs advised, sponsored or organized by the Advisor or its Affiliates; nor shall this Agreement limit or restrict the right of any director, officer,
manager, member, partner, employee employee, or stockholder of the Advisor or its Affi
...liates to engage in or earn fees from any other business or to render services of any kind to any other Person and earn fees for rendering such services; provided, however, that the Advisor must devote sufficient resources to the Company's business to discharge its obligations to the Company under this Agreement. partnership, corporation, firm, individual, trust or association. The Advisor may, with respect to any Investment investment in which the Company is a participant, also render advice and service to each and every other participant therein, and earn fees for rendering such advice and service. Specifically, it is contemplated that the Company may enter into joint ventures or other similar co-investment arrangements with certain Persons, and pursuant therein. The Advisor shall report to the agreements governing such joint ventures Directors the existence of any condition or arrangements, circumstance, existing or anticipated, of which it has knowledge, which creates or could create a conflict of interest between the Advisor may be engaged to provide advice and service to such Persons, in which case the Advisor will earn fees for rendering such advice and service. For the avoidance of doubt, it is understood that neither the Company nor the Board has the authority to determine the salary, bonus or any other compensation paid by the Advisor to any Director, officer, member, partner, employee, or stockholder of the Advisor or its Affiliates, including any person who is also a director or officer employee of the Company. 16 (b) The Advisor shall, and shall cause its Affiliates and their respective employees, officers and agents to, devote to the Company such time as shall be reasonably necessary to conduct the business and affairs of the Company in a manner consistent with the terms of this Agreement. The Company acknowledges that the Advisor and its Affiliates and their respective employees, officers and agents may also engage in activities unrelated Advisor's obligations to the Company and may provide services its obligations to Persons or its interest in any other than partnership, corporation, firm, individual, trust or association. The Advisor or its Affiliates shall disclose to the Company Directors knowledge of such condition or circumstance in accordance with Section 13(d) hereof. If the Sponsor, Advisor, Director or Affiliates thereof have sponsored other investment programs with similar investment objectives which have investment funds available at the same time as the Company, it shall be the duty of the Directors (including the Independent Directors) to adopt the methods, if any, set forth in the Prospectus and its Affiliates. (c) the Offering Memorandum or another reasonable method by which properties are to be allocated to the competing investment entities and to use their best efforts to apply such method fairly to the Company. 13 (b) The Advisor shall be required to use commercially reasonable its best efforts to present a continuing and suitable investment opportunities program to the Company that are which is consistent with the investment policies and objectives of the Company, but neither the Advisor nor any Affiliate of the Advisor shall be obligated generally to present any particular investment opportunity to the Company even if the opportunity is of character that, which, if presented to the Company, could be taken by the Company. (c) In the event that the Advisor or its Affiliates is presented with a potential investment which might be made by the Company and by another investment entity which the Advisor or its Affiliates advises or manages, the Advisor and its Affiliates shall consider the investment portfolio of each entity, cash flow of each entity, the effect of the acquisition on the diversification of each entity's portfolio, rental payments during any renewal period, the estimated income tax effects of the purchase on each entity, the policies of each entity relating to leverage, the funds of each entity available for investment and the length of time such funds have been available for investment. In the event that an investment opportunity becomes available which is located, the allocation procedure set forth under the caption "Conflicts of Interest—Conflict Resolution Procedures—Allocation of Investment Opportunities" in the Registration Statement shall govern the allocation of the opportunity among suitable for both the Company and a public or private entity which the Advisor or its Affiliates are Affiliated, then the entity which has had the longest period of time elapse since it was offered an investment opportunity will first be offered the Advisor. investment opportunity. For purposes of this conflict resolution procedure, an investment opportunity will be considered "offered" to the Company when an opportunity is presented to the Board of Directors for its consideration. (d) The Advisor shall be required to notify inform the conflicts committee of the Company's Board at least annually of Investments Directors each quarter of the investments that have been purchased by other entities managed by Rich Uncles-sponsored programs and Rich Uncles-advised investors for whom the Advisor or one of its Affiliates for determination by the Board serves as an advisor so that the Advisor conflicts committee can evaluate whether the Company is fairly presenting investment opportunities to the Company. receiving its fair share of opportunities.
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Other Activities of the Advisor. (a)
Relationship. Nothing herein contained shall prevent the Advisor or any of its Affiliates from engaging in or earning fees from other activities, including, without limitation, the rendering of advice to other Persons (including other REITs) and the management of other programs advised, sponsored or organized by the Advisor or its Affiliates; nor shall this Agreement limit or restrict the right of any director, officer,
manager, member, partner, employee employee, or
stockholder security hol...der of the Advisor or its Affiliates to engage in or earn fees from any other business or to render services of any kind to any other Person partnership, corporation, firm, individual, trust or association and earn fees for rendering such services; provided, however, that the Advisor must devote sufficient resources to the Company's business to discharge its obligations to the Company under this Agreement. services. The Advisor may, with respect to any Investment in which the Company or the Operating Partnership is a participant, also render advice and service to each and every other participant participants therein, and earn fees for rendering such advice and service. Specifically, it is contemplated that the Company may enter into joint ventures or other similar co-investment arrangements with certain Persons, and pursuant to the agreements governing such joint ventures or arrangements, the Advisor may be engaged to provide advice and service to such Persons, in which case the Advisor will earn fees for rendering such advice and service. For the avoidance of doubt, it is understood that neither the Company nor the Board has the authority to determine the salary, bonus or any other compensation paid by the Advisor to any Director, officer, member, partner, employee, or stockholder of the Advisor or its Affiliates, including any person who is also a director or officer employee of the Company. 16 (b) Time Commitment. The Advisor shall, and shall cause its Affiliates and their respective employees, officers and agents to, devote to the Company and the Operating Partnership such time as shall be reasonably necessary to conduct the business and affairs of the Company and Operating Partnership in a an appropriate manner consistent with the terms of this Agreement. The Company acknowledges and the Operating Partnership acknowledge that the Advisor and its Affiliates and their respective employees, officers and agents may also engage in activities unrelated to the Company and Operating Partnership and may provide services to Persons other than the Company and its Affiliates. or the Operating Partnership. Adopted by the Board of TrusteesEffective 6.20.17 (c) Investment Opportunities. The Advisor shall be required to use commercially reasonable its best efforts to present continuing and suitable investment opportunities to the Company that are consistent with and the Operating Partnership a number of potential investment policies and objectives opportunities appropriate for the portfolio of the Company, but neither the Advisor nor any Affiliate of the Advisor shall be obligated generally to present any particular investment opportunity to the Company even if the opportunity is of character that, if presented to the Company, could be taken by the Company. In the event an investment opportunity is located, the allocation procedure set forth under the caption "Conflicts of Interest—Conflict Resolution Procedures—Allocation of Investment Opportunities" in the Registration Statement shall govern the allocation of the opportunity among the Company and Affiliates of the Advisor. Operating Partnership. The Advisor shall be required to notify allocate potential investment opportunities in accordance with the Board at least annually of Investments that have been purchased by other entities managed by the Advisor Advisor's or its Affiliates for determination by the Board that the Advisor is fairly presenting investment opportunities Affiliate's allocation policies, as such allocation policies may be amended from time to the Company. time.
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Other Activities of the Advisor. (a)
Relationship. Nothing herein contained shall prevent the Advisor or any of its Affiliates from engaging in or earning fees from other activities, including, without limitation, the rendering of advice to other Persons (including other REITs) and the management of other programs advised, sponsored or organized by the Advisor or its Affiliates; nor shall this Agreement limit or restrict the right of any director, officer,
manager, member, partner, employee employee, or
stockholder security hol...der of the Advisor or its Affiliates to engage in or earn fees from any other business or to render services of any kind to any other Person partnership, corporation, firm, individual, trust or association and earn fees for rendering such services; provided, however, that the Advisor must devote sufficient resources to the Company's business to discharge its obligations to the Company under this Agreement. services. The Advisor may, with respect to any Investment in Adopted by the Board of Trustees Effective 4.1.20 which the Company or the Operating Partnership is a participant, also render advice and service to each and every other participant participants therein, and earn fees for rendering such advice and service. Specifically, it is contemplated that the Company may enter into joint ventures or other similar co-investment arrangements with certain Persons, and pursuant to the agreements governing such joint ventures or arrangements, the Advisor may be engaged to provide advice and service to such Persons, in which case the Advisor will earn fees for rendering such advice and service. For the avoidance of doubt, it is understood that neither the Company nor the Board has the authority to determine the salary, bonus or any other compensation paid by the Advisor to any Director, officer, member, partner, employee, or stockholder of the Advisor or its Affiliates, including any person who is also a director or officer employee of the Company. 16 (b) Time Commitment. The Advisor shall, and shall cause its Affiliates and their respective employees, officers and agents to, devote to the Company and the Operating Partnership such time as shall be reasonably necessary to conduct the business and affairs of the Company and Operating Partnership in a an appropriate manner consistent with the terms of this Agreement. The Company acknowledges and the Operating Partnership acknowledge that the Advisor and its Affiliates and their respective employees, officers and agents may also engage in activities unrelated to the Company and Operating Partnership and may provide services to Persons other than the Company and its Affiliates. or the Operating Partnership. (c) Investment Opportunities. The Advisor shall be required to use commercially reasonable its best efforts to present continuing and suitable investment opportunities to the Company that are consistent with and the Operating Partnership a number of potential investment policies and objectives opportunities appropriate for the portfolio of the Company, but neither the Advisor nor any Affiliate of the Advisor shall be obligated generally to present any particular investment opportunity to the Company even if the opportunity is of character that, if presented to the Company, could be taken by the Company. In the event an investment opportunity is located, the allocation procedure set forth under the caption "Conflicts of Interest—Conflict Resolution Procedures—Allocation of Investment Opportunities" in the Registration Statement shall govern the allocation of the opportunity among the Company and Affiliates of the Advisor. Operating Partnership. The Advisor shall be required to notify allocate potential investment opportunities in accordance with the Board at least annually of Investments that have been purchased by other entities managed by the Advisor Advisor's or its Affiliates for determination by the Board that the Advisor is fairly presenting investment opportunities Affiliate's allocation policies, as such allocation policies may be amended from time to the Company. time.
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Other Activities of the Advisor. (a)
Relationship. Nothing herein contained shall prevent the Advisor or any of its Affiliates from engaging in or earning fees from other activities, including, without limitation, the rendering of advice to other Persons (including other REITs) and the management of other programs advised, sponsored or organized by the Advisor or its Affiliates; nor shall this Agreement limit or restrict the right of any director, officer,
manager, member, partner, employee employee, or
stockholder security hol...der of the Advisor or its Affiliates to engage in or earn fees from any other business or to render services of any kind to any other Person partnership, corporation, firm, individual, trust or association and earn fees for rendering such services; provided, however, that the Advisor must devote sufficient resources to the Company's business to discharge its obligations to the Company under this Agreement. services. The Advisor may, with respect to any Investment in which the Company or the Operating Partnership is a participant, also render advice and service to each and every other participant participants therein, and earn fees for rendering such advice and service. Specifically, it is contemplated that the Company may enter into joint ventures or other similar co-investment arrangements with certain Persons, and pursuant to the agreements governing such joint ventures or arrangements, the Advisor may be engaged to provide advice and service to such Persons, in which case the Advisor will earn fees for rendering such advice and service. For the avoidance of doubt, it is understood that neither the Company nor the Board has the authority to determine the salary, bonus or any other compensation paid by the Advisor to any Director, officer, member, partner, employee, or stockholder of the Advisor or its Affiliates, including any person who is also a director or officer employee of the Company. 16 (b) Time Commitment. The Advisor shall, and shall cause its Affiliates and their respective employees, officers and agents to, devote to the Company and the Operating Partnership such time as shall be reasonably necessary to conduct the business and affairs of the Company and Operating Partnership in a an appropriate manner consistent with the terms of this Agreement. The Company acknowledges and the Operating Partnership acknowledge that the Advisor and its Affiliates and their respective employees, officers and Adopted by the Board of Trustees Effective 1.1.17 agents may also engage in activities unrelated to the Company and Operating Partnership and may provide services to Persons other than the Company and its Affiliates. or the Operating Partnership. (c) Investment Opportunities. The Advisor shall be required to use commercially reasonable its best efforts to present continuing and suitable investment opportunities to the Company that are consistent with and the Operating Partnership a number of potential investment policies and objectives opportunities appropriate for the portfolio of the Company, but neither the Advisor nor any Affiliate of the Advisor shall be obligated generally to present any particular investment opportunity to the Company even if the opportunity is of character that, if presented to the Company, could be taken by the Company. In the event an investment opportunity is located, the allocation procedure set forth under the caption "Conflicts of Interest—Conflict Resolution Procedures—Allocation of Investment Opportunities" in the Registration Statement shall govern the allocation of the opportunity among the Company and Affiliates of the Advisor. Operating Partnership. The Advisor shall be required to notify allocate potential investment opportunities in accordance with the Board at least annually of Investments that have been purchased by other entities managed by the Advisor Advisor's or its Affiliates for determination by the Board that the Advisor is fairly presenting investment opportunities Affiliate's allocation policies, as such allocation policies may be amended from time to the Company. time.
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Other Activities of the Advisor. (a)
Relationship. Nothing herein contained shall prevent the Advisor or any of its Affiliates from engaging in or earning fees from other activities, including, without limitation, the rendering of advice to other Persons (including other REITs) and the management of other programs advised, sponsored or organized by the Advisor or its Affiliates; nor shall this Agreement limit or restrict the right of any director, officer,
manager, member, partner, employee employee, or
stockholder security hol...der of the Advisor or its Affiliates to engage in or earn fees from any other business or to render services of any kind to any other Person partnership, corporation, firm, individual, trust or association and earn fees for rendering such services; provided, however, that the Advisor must devote sufficient resources to the Company's business to discharge its obligations to the Company under this Agreement. services. The Advisor may, with respect to any Investment in which the Company or the Operating Partnership is a participant, also render advice and service to each and every other participant participants therein, and earn fees for rendering such advice and service. Specifically, it is contemplated that the Company may enter into joint ventures or other similar co-investment arrangements with certain Persons, and pursuant to the agreements governing such joint ventures or arrangements, the Advisor may be engaged to provide advice and service to such Persons, in which case the Advisor will earn fees for rendering such advice and service. For the avoidance of doubt, it is understood that neither the Company nor the Board has the authority to determine the salary, bonus or any other compensation paid by the Advisor to any Director, officer, member, partner, employee, or stockholder of the Advisor or its Affiliates, including any person who is also a director or officer employee of the Company. 16 (b) Time Commitment. The Advisor shall, and shall cause its Affiliates and their respective employees, officers and agents to, devote to the Company and the Operating Partnership such time as shall be reasonably necessary to conduct the business and affairs of the Company and Operating Partnership in a an appropriate manner consistent with the terms of this Agreement. The Company acknowledges and the Operating Partnership acknowledge that the Advisor and its Affiliates and their respective employees, officers and agents may also engage in activities unrelated to the Company and Operating Partnership and may provide services to Persons other than the Company and its Affiliates. or the Operating Partnership. (c) Investment Opportunities. The Advisor shall be required to use commercially reasonable its best efforts to present continuing and suitable investment opportunities to the Company that are consistent with and the Operating Partnership a number of potential investment policies and objectives opportunities appropriate for the portfolio of the Company, but neither the Advisor nor any Affiliate of the Advisor shall be obligated generally to present any particular investment opportunity to the Company even if the opportunity is of character that, if presented to the Company, could be taken Adopted by the Company. In the event an investment opportunity is located, the allocation procedure set forth under the caption "Conflicts Board of Interest—Conflict Resolution Procedures—Allocation of Investment Opportunities" in the Registration Statement shall govern the allocation of the opportunity among the Trustees Effective 1.1.15 Company and Affiliates of the Advisor. Operating Partnership. The Advisor shall be required to notify allocate potential investment opportunities in accordance with the Board at least annually of Investments that have been purchased by other entities managed by the Advisor Advisor's or its Affiliates for determination by the Board that the Advisor is fairly presenting investment opportunities Affiliate's allocation policies, as such allocation policies may be amended from time to the Company. time.
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Other Activities of the Advisor. (a)
Relationship. Nothing herein contained shall prevent the Advisor or any of its Affiliates from engaging in or earning fees from other activities, including, without limitation, the rendering of advice to other Persons (including other REITs) and the management of other programs advised, sponsored or organized by the Advisor or its Affiliates; nor shall this Agreement limit or restrict the right of any director, officer,
manager, member, partner, employee employee, or
stockholder security hol...der of the Advisor or its Affiliates to engage in or earn fees from any other business or to render services of any kind to any other Person partnership, corporation, firm, individual, trust or association and earn fees for rendering such services; provided, however, that the Advisor must devote sufficient resources to the Company's business to discharge its obligations to the Company under this Agreement. services. The Advisor may, with respect to any Investment in which the Company or the Operating Partnership is a participant, also render advice and service to each and every other participant participants therein, and earn fees for rendering such advice and service. Specifically, it is contemplated that the Company may enter into joint ventures or other similar co-investment arrangements with certain Persons, and pursuant to the agreements governing such joint ventures or arrangements, the Advisor may be engaged to provide advice and service to such Persons, in which case the Advisor will earn fees for rendering such advice and service. For the avoidance of doubt, it is understood that neither the Company nor the Board has the authority to determine the salary, bonus or any other compensation paid by the Advisor to any Director, officer, member, partner, employee, or stockholder of the Advisor or its Affiliates, including any person who is also a director or officer employee of the Company. 16 (b) Time Commitment. The Advisor shall, and shall cause its Affiliates and their respective employees, officers and agents to, devote to the Company and the Operating Partnership such time as shall be reasonably necessary to conduct the business and affairs of the Company and Operating Partnership in a an appropriate manner consistent with the terms of this Agreement. The Company acknowledges and the Operating Partnership acknowledge that the Advisor and its Affiliates and their respective employees, officers and agents may also engage in activities unrelated to the Company and Operating Partnership and may provide services to Persons other than the Company and its Affiliates. or the Operating Partnership. Adopted by the Board of Trustees Effective 1.1.14 (c) Investment Opportunities. The Advisor shall be required to use commercially reasonable its best efforts to present continuing and suitable investment opportunities to the Company that are consistent with and the Operating Partnership a number of potential investment policies and objectives opportunities appropriate for the portfolio of the Company, but neither the Advisor nor any Affiliate of the Advisor shall be obligated generally to present any particular investment opportunity to the Company even if the opportunity is of character that, if presented to the Company, could be taken by the Company. In the event an investment opportunity is located, the allocation procedure set forth under the caption "Conflicts of Interest—Conflict Resolution Procedures—Allocation of Investment Opportunities" in the Registration Statement shall govern the allocation of the opportunity among the Company and Affiliates of the Advisor. Operating Partnership. The Advisor shall be required to notify allocate potential investment opportunities in accordance with the Board at least annually of Investments that have been purchased by other entities managed by the Advisor Advisor's or its Affiliates for determination by the Board that the Advisor is fairly presenting investment opportunities Affiliate's allocation policies, as such allocation policies may be amended from time to the Company. time.
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Other Activities of the Advisor. (a)
Relationship. Nothing herein contained shall prevent the Advisor or any of its Affiliates from engaging in or earning fees from other activities, including, without limitation, the rendering of advice to other Persons (including other REITs) and the management of other programs advised, sponsored or organized by the Advisor or its Affiliates; nor shall this Agreement limit or restrict the right of any director, officer,
manager, member, partner, employee employee, or
stockholder security hol...der of the Advisor or its Affiliates to engage in or earn fees from any other business or to render services of any kind to any other Person partnership, corporation, firm, individual, trust or association and earn fees for rendering such services; provided, however, that the Advisor must devote sufficient resources to the Company's business to discharge its obligations to the Company under this Agreement. services. The Advisor may, with respect to any Investment in which the Company or the Operating Partnership is a participant, also render advice and service to each and every other participant participants therein, and earn fees for rendering such advice and service. Specifically, it is contemplated that the Company may enter into joint ventures or other similar co-investment arrangements with certain Persons, and pursuant to the agreements governing such joint ventures or arrangements, the Advisor may be engaged to provide advice and service to such Persons, in which case the Advisor will earn fees for rendering such advice and service. For the avoidance of doubt, it is understood that neither the Company nor the Board has the authority to determine the salary, bonus or any other compensation paid by the Advisor to any Director, officer, member, partner, employee, or stockholder of the Advisor or its Affiliates, including any person who is also a director or officer employee of the Company. 16 (b) Time Commitment. The Advisor shall, and shall cause its Affiliates and their respective employees, officers and agents to, devote to the Company and the Operating Partnership such time as shall be reasonably necessary to conduct the business and affairs of the Company and Operating Partnership in a an appropriate manner consistent with the terms of this Agreement. The Company acknowledges and the Operating Partnership acknowledge that the Advisor and its Affiliates and their respective employees, officers and agents may also engage in activities unrelated to the Company and Operating Partnership and may provide services to Persons other than the Company and its Affiliates. or the Operating Partnership. Adopted by the Board of Trustees Effective 1.1.16 (c) Investment Opportunities. The Advisor shall be required to use commercially reasonable its best efforts to present continuing and suitable investment opportunities to the Company that are consistent with and the Operating Partnership a number of potential investment policies and objectives opportunities appropriate for the portfolio of the Company, but neither the Advisor nor any Affiliate of the Advisor shall be obligated generally to present any particular investment opportunity to the Company even if the opportunity is of character that, if presented to the Company, could be taken by the Company. In the event an investment opportunity is located, the allocation procedure set forth under the caption "Conflicts of Interest—Conflict Resolution Procedures—Allocation of Investment Opportunities" in the Registration Statement shall govern the allocation of the opportunity among the Company and Affiliates of the Advisor. Operating Partnership. The Advisor shall be required to notify allocate potential investment opportunities in accordance with the Board at least annually of Investments that have been purchased by other entities managed by the Advisor Advisor's or its Affiliates for determination by the Board that the Advisor is fairly presenting investment opportunities Affiliate's allocation policies, as such allocation policies may be amended from time to the Company. time.
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Other Activities of the Advisor. (a)
Relationship. Nothing herein contained shall prevent the Advisor or any of its Affiliates from engaging in or earning fees from other activities, including, without limitation, the rendering of advice to other Persons (including other REITs) and the management of other programs advised, sponsored or organized by the Advisor or its Affiliates; nor shall this Agreement limit or restrict the right of any director, officer,
manager, member, partner, employee employee, or
stockholder security hol...der of the Advisor or its Affiliates to engage in or earn fees from any other business or to render services of any kind to any other Person partnership, corporation, firm, individual, trust or association and earn fees for rendering such services; provided, however, that the Advisor must devote sufficient resources to the Company's business to discharge its obligations to the Company under this Agreement. services. The Advisor may, with respect to any Investment in which the Company or the Operating Partnership is a participant, also render advice and service to each and every other participant participants therein, and earn fees for rendering such advice and service. Specifically, it is contemplated that the Company may enter into joint ventures or other similar co-investment arrangements with certain Persons, and pursuant to the agreements governing such joint ventures or arrangements, the Advisor may be engaged to provide advice and service to such Persons, in which case the Advisor will earn fees for rendering such advice and service. For the avoidance of doubt, it is understood that neither the Company nor the Board has the authority to determine the salary, bonus or any other compensation paid by the Advisor to any Director, officer, member, partner, employee, or stockholder of the Advisor or its Affiliates, including any person who is also a director or officer employee of the Company. 16 (b) Time Commitment. The Advisor shall, and shall cause its Affiliates and their respective employees, officers and agents to, devote to the Company and the Operating Partnership such time as shall be reasonably necessary to conduct the business and affairs of the Company and Operating Partnership in a an appropriate manner consistent with the terms of this Agreement. The Company acknowledges and the Operating Partnership acknowledge that the Advisor and its Affiliates and their respective employees, officers and agents may also engage in activities unrelated to the Company and Operating Partnership and may provide services to Persons other than the Company and its Affiliates. or the Operating Partnership. (c) Investment Opportunities. The Advisor shall be required to use commercially reasonable its best efforts to present continuing and suitable investment opportunities to the Company that are consistent with and the Operating Partnership a number of potential investment policies and objectives opportunities appropriate for the portfolio of the Company, but neither the Advisor nor any Affiliate of the Advisor shall be obligated generally to present any particular investment opportunity to the Company even if the opportunity is of character that, if presented to the Company, could be taken by the Company. In the event an investment opportunity is located, the allocation procedure set forth under the caption "Conflicts of Interest—Conflict Resolution Procedures—Allocation of Investment Opportunities" in the Registration Statement shall govern the allocation of the opportunity among the Company and Affiliates of the Advisor. Operating Partnership. The Advisor shall be required to notify allocate potential investment opportunities in accordance with the Board at least annually of Investments that have been purchased by other entities managed by the Advisor Advisor's or its Affiliates for determination by the Board that the Advisor is fairly presenting investment opportunities Affiliate's allocation policies, as such allocation policies may be amended from time to the Company. time.
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