Mandatory Notification. Clarity agrees that it shall provide written notice to the IC Chairman in the event the Fund or Ventures, or any of their affiliated entities, proposes to acquire any property. Such notice shall include a description of the property and a summary of material financial information with respect to the property promptly following the Fund or Ventures being awarded the transaction and/or the execution of a definitive agreement, but in no event later than ten (10) days following the Fund or Venture’s purchase of the property. It is agreed that the terms of this Section 3.08 only obligate the Fund or Ventures to provide written notice to the IC Chairman in accordance with the terms hereof and do not vest in CIO or the REIT any right to approve or participate in such purchase that are not otherwise expressly provided to CIO or the REIT in other provisions of this Agreement.
Appears in 2 contracts
Sources: Administrative Services Agreement (City Office REIT, Inc.), Administrative Services Agreement (City Office REIT, Inc.)