Common use of IDENTITY OF INTEREST Clause in Contracts

IDENTITY OF INTEREST. An identity of interest relationship exists if any officer, director, board member, or authorized agent of any project team member (consultant, general contractor, supplier, vendor, vendee, attorney, management agent, seller of the land, etc.): (i) is also an officer, director, board member or authorized agent of any other project team member; (ii) has any control over or any financial interest in any other project team member’s firm or corporation; (iii) is a business partner of an officer, director, board member, or authorized agent of any other project team member; (iv) has a family relationship through blood, marriage or adoption with an officer, director, board member, or authorized agent of any project team member; or (v) advances any funds or items of value to the Owner.

IDENTITY OF INTEREST. An an identity of interest relationship exists if any officer, director, board member, or authorized agent of any project Project team member (consultant, general contractor, supplier, vendor, vendee, attorney, management agent, seller of the land, etc.): ): (i) is also an officer, director, board member or authorized agent of any other project Project team member; ; (ii) has any control over or any financial interest in any other project Project team member’s firm or corporation; ; (iii) is a business partner of an officer, director, board member, or authorized agent of any other project Project team member; ; (iv) has a family relationship through blood, marriage or adoption with an officer, director, board member, or authorized agent of any project Project team member; or or (v) advances any funds or items of value to the OwnerBorrower.

IDENTITY OF INTEREST. An an identity of interest relationship exists if any officer, director, board member, or authorized agent of any project team member (consultant, general contractor, supplier, vendor, vendee, attorney, management agent, seller of the land, etc.): (i) is also an officer, director, board member or authorized agent of any other project team member; (ii) has any control over or any financial interest in any other project team member’s firm or corporation; (iii) is a business partner of an officer, director, board member, or authorized agent of any other project team member; (iv) has a family relationship through blood, marriage or adoption with an officer, director, board member, or authorized agent of any project team member; or (v) advances any funds or items of value to the OwnerBorrower.