Exclusion of Certain Transactions. In the event the Company or the Operating Partnership shall propose to enter into any transaction in which an officer or director of the Company, and the Operating Partnership, the Advisor, or any Affiliate of the Company, the Operating Partnership or the Advisor has a direct or indirect interest, then (i) such transaction shall be approved by a majority of the Board of Directors and also by a majority of the Independent Directors and (ii) any commissions or remuneration received by any such persons in connection with such transaction shall be deducted from the fees payable under this Agreement.
Appears in 25 contracts
Samples: Advisory Agreement (Dividend Capital Total Realty Trust Inc.), Advisory Agreement (Dividend Capital Total Realty Trust Inc.), Advisory Agreement (Dividend Capital Total Realty Trust Inc.)
Exclusion of Certain Transactions. In the event the Company or the Operating Partnership shall propose to enter into any transaction in which a Director or an officer or director of the Company, and the Operating Partnership, the Advisor, or any Affiliate of the Company, the Operating Partnership or the Advisor has a direct or indirect interest, then (i) such transaction shall be approved by a majority of the Board of Directors and also by a majority of the Independent Directors and (ii) any commissions or remuneration received by any such persons in connection with such transaction shall be deducted from the fees payable under this AgreementDirectors.
Appears in 10 contracts
Samples: Advisory Agreement (Moody National REIT I, Inc.), Advisory Agreement (Moody National REIT I, Inc.), Advisory Agreement (Moody National REIT I, Inc.)
Exclusion of Certain Transactions. In the event the Company or the Operating Partnership shall propose to enter into any transaction in which a Director or an officer or director of the Company, and the Operating Partnership, the Advisor, or any Affiliate of the Company, the Operating Partnership or the Advisor has a direct or indirect interest, then (i) such transaction shall be approved by a majority of the Board of Directors and also by a majority of the Independent Directors and (ii) any commissions or remuneration received by any such persons in connection with such transaction shall be deducted from the fees payable under this AgreementDirectors.
Appears in 6 contracts
Samples: Advisory Agreement (Moody National REIT II, Inc.), Advisory Agreement (Moody National REIT II, Inc.), Advisory Agreement (Moody National REIT II, Inc.)
Exclusion of Certain Transactions. In the event the Company or the Operating Partnership shall propose to enter into any transaction in which an officer or director of the Company, and the Operating Partnership, the Advisor, or any Affiliate of the Company, the Operating Partnership Company or the Advisor has a direct or indirect interest, then (i) such transaction shall be approved by a majority of the Board of Directors and also by a majority of the Independent Directors and (ii) any commissions or remuneration received by any such persons in connection with such transaction shall be deducted from the fees payable under this Agreement.
Appears in 4 contracts
Samples: Advisory Agreement (Dividend Capital Trust Inc), Advisory Agreement (Dividend Capital Trust Inc), Advisory Agreement (Dividend Capital Trust Inc)
Exclusion of Certain Transactions. In the event the Company Corporation or the Operating Partnership shall propose to enter into any transaction in which an officer or director of the CompanyCorporation, and the Operating Partnership, the Advisor, or any Affiliate of the CompanyCorporation, the Operating Partnership or the Advisor has a direct or indirect interest, then (i) such transaction shall be approved by the Conflicts Committee and a majority of the Board of Directors and also by (including a majority of the Independent Directors Directors) as fair and (ii) any commissions or remuneration received by any such persons in connection with such transaction shall be deducted from reasonable to the fees payable under this AgreementCorporation.
Appears in 1 contract
Samples: Advisory Agreement (Income Property Trust of the Americas Inc.)
