Permitted Fund Manager

Permitted Fund Manager. Any Person that on the date of determination is (i) a nationally-recognized manager of investment funds investing in debt or equity interests relating to commercial real estate, (ii) investing through a fund with committed capital of at least $250,000,000 and (iii) not subject to any existing or future law, case proceeding or other action in any jurisdiction relating to bankruptcy, insolvency, reorganization or relief of debtors.