Common use of Guidelines and Instructions Clause in Contracts

Guidelines and Instructions. Attached hereto as Exhibit A is a statement of the investment objectives of MogulREIT II, together with a statement of any and all specific investment restrictions applicable to the investment of the Assets in Permissible Investments (the “Guidelines”). Manager agrees to cause the Assets to be invested and reinvested from time to time in accordance with the Guidelines. RM Adviser, on behalf of MogulREIT II, shall have the right at all times to modify the Guidelines or to give Manager instructions (“Instructions”) to buy, sell or retain any investment. No Instructions or modifications of Instructions or Guidelines shall be binding upon Manager unless Manager has received written notice thereof from an RM Authorized Person (as hereinafter defined). Where commercially reasonable, Manager shall have seven (7) stock market business days to bring the Assets into compliance with any changes to the Guidelines or Instructions, but shall in any event do so as soon as reasonably practicable. The RM Parties acknowledge that it may not be commercially reasonable to bring the Assets into compliance with changes to Guidelines or Instructions within less than seven (7) stock market business days, and that the Account may suffer losses if securities in the Account are required to be converted to cash in less than seven (7) stock market business days, and the RM Parties shall not hold Manager responsible for any such losses. Manager will advise RM Adviser, to the extent reasonably practicable, as to Manager’s opinion regarding the estimated potential extent of losses the Account may suffer in the event securities are required to be converted to cash in less than seven (7) stock market business days. Manager shall be under no duty to make any investigation or inquiry as to any statement contained in any written Guidelines or Instructions given and, unless and until specifically advised otherwise, Manager may accept any statement contained in any written Guidelines or Instructions provided by RM Adviser as true and accurate. The Guidelines and all Instructions, unless they expressly provide otherwise, shall continue to be effective until duly canceled by subsequent modifications duly communicated to Manager in writing.

Guidelines and Instructions. Attached hereto as Exhibit A is a statement of the investment objectives of MogulREIT IIMogulREIT, together with a statement of any and all specific investment restrictions applicable to the investment of the Assets in Permissible Investments (the “Guidelines”). Manager agrees to cause the Assets to be invested and reinvested from time to time in accordance with the Guidelines. RM Adviser, on behalf of MogulREIT IIMogulREIT, shall have the right at all times to modify the Guidelines or to give Manager instructions (“Instructions”) to buy, sell or retain any investment. No Instructions or modifications of Instructions or Guidelines shall be binding upon Manager unless Manager has received written notice thereof from an RM Authorized Person (as hereinafter defined). Where commercially reasonable, Manager shall have seven (7) stock market business days to bring the Assets into compliance with any changes to the Guidelines or Instructions, but shall in any event do so as soon as reasonably practicable. The RM Parties acknowledge that it may not be commercially reasonable to bring the Assets into compliance with changes to Guidelines or Instructions within less than seven (7) stock market business days, and that the Account may suffer losses if securities in the Account are required to be converted to cash in less than seven (7) stock market business days, and the RM Parties shall not hold Manager responsible for any such losses. Manager will advise RM Adviser, to the extent reasonably practicable, as to Manager’s opinion regarding the estimated potential extent of losses the Account may suffer in the event securities are required to be converted to cash in less than seven (7) stock market business days. Manager shall be under no duty to make any investigation or inquiry as to any statement contained in any written Guidelines or Instructions given and, unless and until specifically advised otherwise, Manager may accept any statement contained in any written Guidelines or Instructions provided by RM Adviser as true and accurate. The Guidelines and all Instructions, unless they expressly provide otherwise, shall continue to be effective until duly canceled by subsequent modifications duly communicated to Manager in writing.