Common use of Definition of a Party in Interest Clause in Contracts

Definition of a Party in Interest. As defined in §1318(b) of the Public Health Service Act, a party in interest is:  Any director, officer, partner or employee responsible for management or administration of an HMO; any person who is directly or indirectly the beneficial EXHIBIT 1.M SCOPE OF WORK owner of more than five percent (5%) of the equity of the HMO; any person who is the beneficial owner of a mortgage, deed of trust, note or other interest secured by, and valuing more than five percent (5%) of the HMO; and, in the case of an HMO organized as a nonprofit corporation, an incorporator or member of such corporation under applicable state corporation law;  Any entity in which a person described in the paragraph above is director or officer; is a partner; has directly or indirectly a beneficial interest of more than five percent (5%) of the equity of the HMO; or has a mortgage, deed of trust, note or other interest valuing more than five percent (5%) of the assets of the HMO;  Any person directly or indirectly controlling, controlled by or under common control with a HMO; and  Any spouse, child or parent of an individual described above.