Common use of Transactions with Partners and Affiliates Clause in Contracts

Transactions with Partners and Affiliates. Neither the Borrower, RMOP nor any of their respective Subsidiaries shall directly or indirectly enter into or permit to exist any transaction (including, without limitation, the purchase, sale, lease or exchange of any property or the rendering of any service) with any holder or holders of more than five percent (5%) of any class of equity Securities of the Borrower, or in the case of RMOP, of RMOP, or with any Affiliate of the Borrower or in the case of RMOP, of RMOP which is not its Subsidiary, unless such transaction is determined by the respective Boards of Directors (or managers or trustees) of the Company or ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Industrial Interim GP LLC or RMIT to be no less favorable to the Borrower, RMOP or any of their Subsidiaries, as applicable, than those that might be obtained in an arm's length transaction at the time from Persons who are not such a holder or Affiliate (other than transactions permitted by Section 2.3). Nothing contained in this Section 10.5 shall prohibit (a) increases in compensation and benefits for officers and employees of the Borrower, RMOP or any of their Subsidiaries; (b) payment of officers', managers', trustees', directors', partners' and other similar indemnities; (c) performance of any obligations arising under the Loan Documents; or (d) loans to Persons in connection with such Person's contribution of Real Property to the Consolidated Businesses or Minority Holdings.

Transactions with Partners and Affiliates. Neither the Borrower, RMOP nor any of their respective Subsidiaries shall directly or indirectly enter into or permit to exist any transaction (including, without limitation, the purchase, sale, lease or exchange of any property or the rendering of any service) with any holder or holders of more than five percent (5%) of any class of equity Securities of the Borrower, or in the case of RMOP, of RMOP, or with any Affiliate of the Borrower or in the case of RMOP, of RMOP which is not its Subsidiary, unless such transaction is determined by the respective Boards of Directors (or managers or trustees) of the Company or ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Reckson Morris Industrial Interim GP LLC or RMIT to be no less favorable l▇▇▇ ▇▇▇▇▇▇▇▇▇ to the Borrower, RMOP or any of their Subsidiaries, as applicable, than those that might be obtained in an arm's length transaction at the time from Persons who are not such a holder or Affiliate (other than transactions permitted by Section 2.3). Nothing contained in this Section 10.5 shall prohibit (a) increases in compensation and benefits for officers and employees of the Borrower, RMOP or any of their Subsidiaries; (b) payment of officers', managers', trustees', directors', partners' and other similar indemnities; (c) performance of any obligations arising under the Loan Documents; or (d) loans to Persons in connection with such Person's contribution of Real Property to the Consolidated Businesses or Minority Holdings.