Common use of Limitations on Activities Clause in Contracts

Limitations on Activities. Notwithstanding any provision in this Agreement to the contrary, the Advisor shall not take any action that, in its sole judgment made in good faith, would (i) adversely affect the ability of the Company to qualify or continue to qualify as a REIT under the Code, (ii) subject the Company to regulation under the Investment Company Act of 1940, as amended, (iii) violate any law, rule, regulation or statement of policy of any governmental body or agency having jurisdiction over the Company, its Shares or its other securities, (iv) require the Advisor to register as a broker-dealer with the SEC or any state, (v) violate the Charter or Bylaws, or (vi) violate the governing documents of any Subsidiary of the Company. In the event an action that would violate (i) through (vi) of the preceding sentence but such action has been ordered by the Board, the Advisor shall notify the Board of the Advisor’s judgment of the potential impact of such action and shall refrain from taking such action until it receives further clarification or instructions from the Board. In such event, the Advisor shall have no liability for acting in accordance with the specific instructions of the Board so given.

Limitations on Activities. Notwithstanding any provision in this Agreement to the contrary, the Advisor shall not take refrain from taking any action that, in its sole judgment made in good faith, would (ia) adversely affect the ability of the Company to qualify or to continue to qualify as a REIT under the Code, (iib) subject the Company to regulation under the Investment Company Act of 1940, as amended, (iiic) violate any law, rule, regulation or statement of policy of any governmental body or agency having jurisdiction over the Company, its Shares Company or its other securitiesSecurities, (ivd) violate the Charter or Bylaws, or (e) require the Advisor to register as a broker-dealer with the SEC SEC, the Financial Industry Regulatory Authority, or any state, (v) violate the Charter or Bylaws, or (vi) violate the governing documents of state securities law administrator. If any Subsidiary of the Company. In the event an action that would violate subsections (ia) through (vie) of the preceding sentence this section but such action has been ordered by the BoardBoard of Directors, the Advisor shall notify promptly the Board of Directors of the Advisor’s judgment of the potential impact of such action and shall refrain from taking such action until it receives further clarification or instructions from the BoardBoard of Directors. In such event, event the Advisor shall have no liability for acting in accordance with the specific instructions of the Board of Directors so given.

Limitations on Activities. Notwithstanding any provision in this Agreement to the contrary, the Advisor shall not take refrain from taking any action that, in its sole judgment made in good faith, would (ia) adversely affect the ability of the Company to qualify or to continue to qualify as a REIT under the Code, (iib) subject the Company to regulation under the Investment Company Act of 1940, as amended, (iiic) violate any law, rule, regulation or statement of policy of any governmental body or agency having jurisdiction over the Company, its Shares Stock or its other securitiesSecurities, (ivd) violate the Charter or Bylaws, or (e) require the Advisor to register as a broker-dealer with the SEC Securities and Exchange Commission or any state, (v) violate the Charter or Bylaws, or (vi) violate the governing documents of other jurisdiction. If any Subsidiary of the Company. In the event an action that would violate subsections (ia) through (vie) of the preceding sentence this section but such action has been ordered by the Board, the Advisor shall notify promptly the Board of the Advisor’s judgment of the potential impact of such action and shall refrain from taking such action until it receives further clarification or instructions from the Board. In such event, event the Advisor shall have no liability for acting in accordance with the specific instructions of the Board so given.