Common use of Cross Transactions Clause in Contracts

Cross Transactions. Cross transactions are transactions between the Company or one of its Subsidiaries, on the one hand, and an account (other than the Company or one of its Subsidiaries) that is managed or advised by the Manager or one of the Manager’s Affiliates, on the other hand (each a “Cross Transaction”). The Manager is only authorized to execute Cross Transactions for the Company with the prior approval of a majority Company’s Independent Directors in accordance with applicable law and the Manager’s Compliance Policies. The Company acknowledges that the Manager has a potentially conflicting division of loyalties and responsibilities regarding each party to a Cross Transaction.