Common use of Obligations of Manager Clause in Contracts

Obligations of Manager. (a) The Manager shall require each seller or transferor of REIT Investments to the Company to make such representations and warranties regarding such REIT Investments as may, in the judgment of the Manager, be necessary and appropriate. In addition, the Manager shall take such other action as it deems necessary or appropriate with regard to the protection of the Company's investments. (b) The Manager shall refrain from any action that, in its sole judgment made in good faith, would adversely affect the status of the REIT as a REIT or that, in its sole judgment made in good faith, would violate any law, rule or regulation of any governmental body or agency having jurisdiction over the REIT or any Subsidiary or that would otherwise not be permitted by the REIT's or Subsidiary's