Common use of Business Transactions Clause in Contracts

Business Transactions. 2.10.2.1. The Contractor shall, within five (5) Business Days, disclose to the Department the following business transactions: 2.10.2.1.1. Any sale, exchange or lease of any property between Contractor and a party in interest. 2.10.2.1.2. Any lending of money or other extension of credit between Contractor and a party in interest. 2.10.2.1.3. Any exchange of goods, services (including management services) or facilities between Contractor and a party in interest other than salaries paid to employees for services provided in the normal course of the employment. 2.10.2.1.3.1. DELIVERABLE: Business Transaction Notification. 2.10.2.1.3.2. DUE: Within five (5) Business Days of transaction. 2.10.2.2. Party in interest includes, but is not limited to: 2.10.2.2.1. Any director, officer, partner, or employee responsible for management or administration of Contractor; or the spouse, child, or parent of such person. 2.10.2.2.2. Any person who is directly or indirectly the beneficial owner of more than five percent (5%) of the equity of Contractor; or the spouse, child, or parent of such person. 2.10.2.2.3. Any person who is the beneficial owner of a mortgage, deed of trust, note, or other interest secured by, and valuing more than five percent (5%) of Contractor; or the spouse, child, or parent of such person. 2.10.2.2.4. Any incorporator or member of Contractor’s board; or the spouse, child, or parent of such person. 2.10.2.2.5. Any organization with directors, officers or partners (including their respective spouses, children, or parents),who are also directors, officers, partners or managing employees of Contractor or who are the spouses, children or parents of Contractor’s directors, officers, partners or managing employees. 2.10.2.2.6. Any organization with directors, officers or partners (including their respective spouses, children, or parents) who have, directly or indirectly, a beneficial interest of more than five percent (5%) in the equity of Contractor. 2.10.2.2.7. Any organization with an owner (including the owner’s spouse, children, or parents) who also has, directly or indirectly, a beneficial interest of more than five percent (5%) in the equity of Contractor. 2.10.2.2.8. Any organization with an owner (including the owner’s spouse, children, or parents) who is also a director, officer, partner or managing employee of Contractor or who are the spouses, children or parents of Contractor’s directors, officers, partners or managing employees. 2.10.2.2.9. Any organization with a mortgage, deed of trust, note, or other interest valuing more than five percent (5%) of the assets of Contractor. 2.10.2.2.10. Any person directly or indirectly controlling, controlled by, or under common control with Contractor; or the spouse, child, or parent of such person.