Transfers of Ownership Interests in Borrower. Provided the conditions set forth in subsection (d)(v) below are met, the Transfer of ownership interests in Borrower to any entity in which Flagler Development Company or FECI shall own, directly or indirectly, at least fifty-one percent (51%) of the equity interest and retain management control shall be permitted without the necessity of obtaining Lender's consent. A processing fee of $10,000 will be required.
Appears in 4 contracts
Samples: Mortgage, Security Agreement and Fixture Filing (Florida East Coast Industries Inc), Mortgage, Security Agreement (Florida East Coast Industries Inc), Florida East Coast Industries Inc
Transfers of Ownership Interests in Borrower. Provided the conditions set forth in subsection (d)(v) below are met, the Transfer of ownership interests in Borrower to any entity in which Flagler Development Company or FECI shall own, directly or indirectly, at least fifty-one percent (51%) of the equity interest and retain management control shall be permitted without the necessity of obtaining Lender's consent. A processing fee of $10,000 will be required.equity
Appears in 2 contracts
Samples: Mortgage, Security Agreement and Fixture Filing (Florida East Coast Industries Inc), Florida East Coast Industries Inc
Transfers of Ownership Interests in Borrower. Provided the conditions set forth in subsection (d)(v) below are met, the Transfer of ownership interests in Borrower to any entity in which Flagler Development Company or FECI shall own, directly or indirectly, at least fifty-one percent (51%) of the equity interest and retain management control shall be permitted without the necessity of obtaining Lender's ’s consent. A processing fee of $10,000 will be required.
Appears in 2 contracts
Samples: Mortgage, Security Agreement and Fixture Filing (Florida East Coast Industries Inc), Florida East Coast Industries Inc
Transfers of Ownership Interests in Borrower. Provided the conditions set forth in subsection (d)(v) below are met, the Transfer of ownership interests in Borrower to any entity in which Flagler Development Company Borrower or FECI shall own, directly or indirectly, at least fifty-one percent (51%) of the equity interest and retain management control shall be permitted without the necessity of obtaining Lender's ’s consent. A processing fee of $10,000 will be required.
Appears in 2 contracts
Samples: Defined Terms (Florida East Coast Industries Inc), Defined Terms (Florida East Coast Industries Inc)