Common use of Transfers of Ownership Interests in Borrower Clause in Contracts

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.

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

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.

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.