Common use of Interests Held By Entities Clause in Contracts

Interests Held By Entities. Except as otherwise provided herein, an interest in a Lessee Entity or a Major Sublessee held or owned by a partnership, limited liability company, corporation or other entity shall be treated as owned by the partners, members, shareholders or other equity holders of such entity in proportion to their respective equity interests, determined by reference to the relative values of the interests of all partners, members, shareholders or other equity holders in such entity. Where more than one layer of entities exists between a Lessee Entity or a Major Sublessee, as applicable, and the ultimate owners, then the foregoing sentence shall be applied successively to each such entity in order to determine the ownership of the beneficial interests in a Lessee Entity or a Major Sublessee, as appropriate, and any transfers thereof. Notwithstanding any contrary provision hereof, no limited partner, member or shareholder having a direct or indirect ownership interest in a Lessee Entity or a Major Sublessee shall have any liability to County under this Lease.

Interests Held By Entities. Except as otherwise provided herein, an interest in a Lessee Entity Lessee, this Lease or a Major Sublessee Sublease held or owned by a partnership, limited liability company, corporation or other entity shall be treated as owned by the partners, members, shareholders or other equity holders of such entity in proportion to their respective equity interests, determined by reference to the relative values of the interests of all partners, members, shareholders or other equity holders in such entity. Where more than one layer of entities exists between a Lessee Entity or a Major Sublessee, as applicableappropriate, and the ultimate owners, then the foregoing sentence shall be applied successively to each such entity in order to determine the ownership of the beneficial interests in a Lessee Entity Lessee, this Lease or a Major SublesseeSublease, as appropriate, and any transfers thereof. Notwithstanding any contrary provision hereof, no limited partner, member or shareholder having a direct or indirect ownership interest in a Lessee Entity or a Major Sublessee shall have any liability to County under this Lease.

Interests Held By Entities. Except as otherwise provided herein, an interest in a Lessee Entity Lessee, this Lease or a Major Sublessee Sublease held or owned by a partnership, limited liability company, corporation or other entity shall be treated as owned by the partners, members, shareholders or other equity holders of such entity in proportion to their respective equity interests, determined by reference to the relative values of the interests of all partners, members, shareholders or other equity holders in such entity. Where more than one layer of entities exists between a Lessee Entity or a Major Sublessee, as applicable, and the ultimate owners, then the foregoing sentence shall be applied successively to each such entity in order to determine the ownership of the beneficial interests in a Lessee Entity Lessee, this Lease or a Major SublesseeSublease, as appropriate, and any transfers thereof. Notwithstanding any contrary provision hereof, no limited partner, member or shareholder having a direct or indirect ownership interest in a Lessee Entity or a Major Sublessee Sublease shall have any liability to County under this Lease.

Interests Held By Entities. Except as otherwise provided herein, an interest in a Lessee Entity Lessee, this Lease or a Major Sublessee Sublease held or owned by a partnership, limited liability company, corporation or other entity shall be treated as owned by the partners, members, shareholders or other equity holders of such entity in proportion to their respective equity interests, determined by reference to the relative values of the interests of all partners, members, shareholders or other equity holders in such entity. Where more than one layer of entities exists between a Lessee Entity or a Major Sublessee, as applicableappropriate, and the ultimate owners, then the foregoing sentence shall be applied successively to each such entity in order to determine the ownership of the beneficial interests Beneficial Residual Interests in Lessee, a Lessee Entity Major Sublessee, this Lease, or a Major SublesseeSublease, as appropriate, and any transfers thereof. Notwithstanding any contrary provision hereof, no limited partner, member or shareholder having a direct or indirect ownership interest in a Lessee Entity or a Major Sublessee shall have any liability to County under this Lease.