Related Party and Estate Planning Transfers. Borrower shall have the right to transfer or distribute interests in Borrower or a Borrower Control Party upon not less than ten (10) days advance written notice (excluding Section 7.2(b)(iv)) provided that such transfer or distribution (i) is to any other member of Borrower; (ii) to any member of the immediate family of any member of Borrower, including any spouse, children, or grandchildren solely for estate planning purposes; (iii) is to a trust, partnership or other entity for the benefit of any of the parties referred to in (i) or (ii) and for the sole purpose of estate planning purposes; (iv) occurs by inheritance, devise, bequest or by operation of law upon the death of a natural person who is the owner of a direct or indirect ownership interest in Borrower, provided that upon completion of each such transfer all of the Transfer Conditions (excepting subsection (i) thereof with respect to transfers under Section 7.2(b)(iv) above) have been satisfied.
Related Party and Estate Planning Transfers. Borrower shall have the right to transfer or distribute (direct or indirect) interests in Borrower or a Borrower Control Party upon not less than ten (10) days advance written notice (excluding Section 7.2(b)(iv)) to Lender provided that such transfer or distribution (i) is to any other direct or indirect owner of Borrower; (ii) to any member of the immediate family of any direct or indirect owner of Borrower, including spouses, children, or grandchildren for estate planning purposes; (iii) is to any trust, partnership or other entity for the benefit of any of the parties referred to in (i) or (ii) and for the sole purpose of estate planning purposes; (iv) occurs by inheritance, devise, bequest or by operation of law upon the death of a natural person who is the owner of a direct or indirect ownership interest in Borrower, provided that upon completion of each such transfer all of the Transfer Conditions have been satisfied (or waived by Lender). Borrower shall not be liable for the payment of any fee or premium to Lender in connection with any Permitted Disposition pursuant to this Section 7.2(b).
