Joint Venture Development Entity definition
Joint Venture Development Entity means, as to the Trust, any other Person in which the Trust directly or indirectly owns 50% or more of the outstanding equity and voting interests of such Person, and another Person at arms’ length to the Trust owns all of the remaining outstanding equity and voting interests, and either (A) the Trust controls the Person, or (B) each of the two owners have equal voting rights in the Person such that neither owner controls the Person; provided that each of the following conditions is met: