Common use of PERSONS WITH AN OWNERSHIP OR CONTROL INTEREST Clause in Contracts

PERSONS WITH AN OWNERSHIP OR CONTROL INTEREST. “Person with an ownership or control interest” means a person or corporation that: (a) Owns 5% or more of the Entity (b) Indirectly owns 5% of more of the Entity (for example, a person who owns 10% of a corporation that owns 50% of the Entity) (c) Has a combination of direct and indirect ownership interests totaling 5% or more in the Entity (d) Owns an interest of 5% or more in any mortgage, deed of trust, note, or other obligation secured by the Entity if that interest equals at least 5 % of the value of the property or assets of the Entity (e) If the Entity is organized as a corporation, is an officer or director of that corporation (f) If the Entity is organized as a partnership, is a general or limited partner in the Entity. If this Entity has corporate owners, be sure to list the owning corporation below, as well as any individuals whose ownership in the owning corporation would give them an indirect ownership in the Entity of more than 5%. (For example, if the Entity is “Good Hospital” and it’s 50% owned by “Great Corporation”, list “Great Corporation” in Part 2, and also list any individual or corporation that owns 10% or more of “Great Corporation” because that person would have a 5% or greater indirect ownership of Good Hospital. If you list any corporations below, you must include as applicable: the primary business address; the address of every business location and any P.O. Box addresses. If you need more information about direct and indirect ownership or calculating percentage interests, please see the Code of Federal Regulations site above. You must list ALL corporate officers and directors and all general and limited partners regardless of whether they meet the 5% test. Attach additional sheets of paper as necessary and note on the sheet that it’s a continuation of Part 2. PERSONS WITH AN OWNERSHIP OR CONTROL INTEREST, INCLUDING ALL GENERAL AND LIMITED PARTNERS, AND ALL CORPORATE OFFICERS AND DIRECTORS

Appears in 3 contracts

Sources: Electronic Data Exchange Agreement, Electronic Data Exchange Agreement, Electronic Data Exchange Agreement