Common use of Other Activities of Advisor Clause in Contracts

Other Activities of Advisor. (a) Except as set forth in this Section 16, nothing in this Agreement shall prevent the Advisor or any of its Affiliates from engaging in other business activities related to real estate, mortgage investments or other investments whether similar or dissimilar to those made by any of the Advisees or from acting as advisor to any other person or entity having investment policies whether similar or dissimilar to those of the Company or the OP (including other REITs or partnerships); provided, that, before the Advisor and all Persons controlled by the Advisor may take advantage of an opportunity for their own account or present or recommend it to others, they are obligated to present an investment opportunity to an Advisee if (i) such opportunity is compatible with such Advisee’s investment objectives and policies (including such Advisee’s requirements relating to all pertinent factors, including diversification, property type and location), (ii) such opportunity is of a character which could be taken by such Advisee, and (iii) the Advisee has the financial resources to take advantage of such opportunity. In furtherance, and not in limitation, of the immediately preceding sentence, neither the Advisor nor any Affiliate of the Advisor may make any investment in residential, retail, industrial and office properties where the investment objective is substantially similar to the investment objectives of the Advisees until such time as seventy five percent (75.0%) of the total gross proceeds from the offering of the Company’s shares offered for sale pursuant to a registration statement on form S-11 filed with the SEC, following final closing of such offering, have been invested or committed for investment in such properties.

Other Activities of Advisor. (a) Except as set forth in this Section 1615, nothing in this Agreement shall prevent the Advisor or any of its Affiliates from engaging in other business activities related to real estate, mortgage investments or other investments whether similar or dissimilar to those made by any of the Advisees or from acting as advisor to any other person or entity having investment policies whether similar or dissimilar to those of the Company or the OP (including other REITs or partnerships); provided, that, before the Advisor and all Persons controlled by the Advisor may take advantage of an opportunity for their own account or present or recommend it to others, they are obligated to present an investment opportunity to an Advisee if (i) such opportunity is compatible with such Advisee’s investment objectives and policies (including such Advisee’s requirements relating to all pertinent factors, including diversification, property type and location), (ii) such opportunity is of a character which could be taken by such Advisee, and (iii) the Advisee has the financial resources to take advantage of such opportunity. In furtherance, and not in limitation, of the immediately preceding sentence, neither the Advisor nor any Affiliate of the Advisor may make any investment in residential, retail, industrial and office properties where the investment objective is substantially similar to the investment objectives of the Advisees until such time as seventy five percent (75.0%) of the total gross proceeds (the “Offering Proceeds”) from the offering of the Company’s shares offered for sale pursuant to a registration statement on form S-11 filed with the SEC, following final closing of such offering, have been invested or committed for investment in such properties.

Other Activities of Advisor. (a) Except as set forth in this Section 16, nothing in this Agreement shall prevent the Advisor or any of its Affiliates from engaging in other business activities related to real estate, mortgage investments or other investments whether similar or dissimilar to those made by any of the Advisees or from acting as advisor to any other person or entity having investment policies whether similar or dissimilar to those of the Company or the OP (including other REITs or partnerships); provided, ,that, before the Advisor and all Persons controlled by the Advisor may take advantage of an opportunity for their own account or present or recommend it to others, they are obligated to present an investment opportunity to an Advisee if (i) such opportunity is compatible with such Advisee’s investment objectives and policies (including such Advisee’s requirements relating to all pertinent factors, including diversification, property type and location), (ii) such opportunity is of a character which could be taken by such Advisee, and (iii) the Advisee has the financial resources to take advantage of such opportunity. In furtherance, and not in limitation, of the immediately preceding sentence, neither the Advisor nor any Affiliate of the Advisor may make any investment in residential, retail, industrial and office properties where the investment objective is substantially similar to the investment objectives of the Advisees until such time as seventy five percent (75.0%) of the total gross proceeds from the offering of the Company’s shares offered for sale pursuant to a registration statement on form Form S-11 filed with the SEC, following final closing of such offering, have been invested or committed for investment in such properties.

Other Activities of Advisor. (a) Except as set forth in this Section 16, nothing in this Agreement shall prevent the Advisor or any of its Affiliates from engaging in other business activities related to real estate, mortgage investments or other investments whether similar or dissimilar to those made by any of the Advisees or from acting as advisor to any other person or entity having investment policies whether similar or dissimilar to those of the Company or the OP (including other REITs or partnerships); provided, that, before the Advisor and all Persons controlled by the Advisor may take advantage of an opportunity for their own account or present or recommend it to others, they are obligated to present an investment opportunity to an Advisee if (i) such opportunity is compatible with such Advisee’s investment objectives and policies (including such Advisee’s requirements relating to all pertinent factors, including diversification, property type and location), (ii) such opportunity is of a character which could be taken by such Advisee, and (iii) the Advisee has the financial resources to take advantage of such opportunity. In furtherance, and not in limitation, of the immediately preceding sentence, neither the Advisor nor any Affiliate of the Advisor may make any investment in residential, retail, industrial and office properties where the investment objective is substantially similar to the investment objectives of the Advisees until such time as seventy five percent (75.0%) of the total gross proceeds from the offering of the Company’s shares offered for sale pursuant to a registration statement on form Form S-11 filed with the SEC, following final closing of such offering, have been invested or committed for investment in such properties.