13.13 “Permitted Transfer” means one of the following:
(1) Intra-Family Transfers: A transfer of interest in a Brand Hotel to or for the benefit of an immediate family member;
(2) Transfers Upon Death: A transfer of interest in a Brand Hotel held by a natural person upon that person's death in accordance with the will or laws of intestacy;
(3) Transfers of Privately Held Equity Interests: A transfer of interest in a Brand Hotel in which, after conveyance of the interest, a 25% or more cumulative interest in the Brand Hotel will have changed hands, so long as such event does not result in a change of control of the franchise.
(4) Affiliate Transfers: A transfer of interest that does not result in a change in control of the hotel;
(5) Bricks and Mortar Transfers: A transfer of interest in the Brand Hotel in which, after completion of the transaction, the pre-transfer hotel owner retains management control of hotel operations.
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