Common use of Effective Date, Duration and Termination Clause in Contracts

Effective Date, Duration and Termination. This Expense Limitation Agreement shall be effective as of the effectiveness of the Company’s registration statement on Form S-11 relating to the continuous offering of the Shares and shall continue in effect for successive twelve-month periods provided that such continuance is specifically approved at least annually by a majority of the Independent Directors and by the mutual consent of the Adviser and Sub-Adviser. Aside from its annual renewal, this Expense Limitation Agreement may not be terminated by the Adviser or Sub-Adviser, but may be terminated by the Independent Directors, on written notice to the Adviser and Sub-Adviser. This Expense Limitation Agreement will automatically terminate if the Advisory Agreement for the Company is terminated with such termination effective upon the effective date of the Advisory Agreement’s termination. The Adviser’s and Sub-Adviser’s right to repayment pursuant to Section 2 hereof shall survive the termination of this Agreement for any reason.

Effective Date, Duration and Termination. This Expense Limitation Agreement shall be effective as of the effectiveness of the Company’s registration statement on Form S-11 relating to the continuous offering of the Shares date hereof and shall continue in effect for successive twelve-month periods provided that such continuance is specifically approved at least annually by a majority of the Independent Directors and by the mutual consent of the Adviser and Sub-Adviser. Aside from its annual renewal, this Expense Limitation Agreement may not be terminated by the Adviser or Sub-Adviser, but may be terminated by the Independent Directors, on written notice to the Adviser and Sub-Adviser. This Expense Limitation Agreement will automatically terminate if the Advisory Agreement for the Company is terminated with such termination effective upon the effective date of the Advisory Agreement’s termination. The Adviser’s and Sub-Adviser’s right to repayment pursuant to Section 2 hereof shall survive the termination of this Expense Limitation Agreement for any reason.

Effective Date, Duration and Termination. This Expense Limitation Agreement shall be effective as of the effectiveness of Post-Effective Amendment No. 4 to the Company’s registration statement Registration Statement on Form S-11 (Registration No. 333-216037) relating to the continuous offering of the Shares and shall continue in effect for successive twelve-month periods provided that such continuance is specifically approved at least annually by a majority of the Independent Directors and by the mutual consent of the Adviser and Sub-Adviser. Aside from its annual renewal, this Expense Limitation Agreement may not be terminated by the Adviser or Sub-Adviser, but may be terminated by the Independent Directors, on written notice to the Adviser and Sub-Adviser. This Expense Limitation Agreement will automatically terminate if the Advisory Agreement for the Company is terminated with such termination effective upon the effective date of the Advisory Agreement’s termination. The Adviser’s and Sub-Adviser’s right to repayment pursuant to Section 2 hereof shall survive the termination of this Expense Limitation Agreement for any reason.