Common use of Acquisitions of Property Clause in Contracts

Acquisitions of Property. The Manager may approve and cause Series One to make Permitted Subsequent Property Acquisitions without the approval of the Members in accordance with the process set forth in the Series One Property Management Agreement. Property acquisitions that are not Permitted Subsequent Property Acquisitions shall require approval of the Member Committee of Series One. The Manager shall give written notice to the Series One Members of any material acquisitions approved by the Manager and shall provide such Members with information concerning proposed or pending acquisitions upon reasonable request, subject to any confidentiality obligations to which the Company, Series One, the Manager, or the Series One Property Manager may be subject. During the pendency of any suspension of the Commitment Period pursuant to Section 9.1(j)(ii), proposed acquisitions may be submitted to the Member Committee of Series One for approval in lieu of approval by the Manager, and any transaction so approved will be deemed to have been made during the Commitment Period.