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2p�100260 (iii) if such entity is a limited liabiliiy company or a limited liability partnership, (A) a Transfer af any membership or other ownership interest which wauld cause the Initial Owners to avrm less than 51 % of all membership or other ownership interests in such entity, (1�) a Transfer of any membership, or ather interest af a manager, in such entity that results in a chan$e of manager, or (C) a change of the nan-member manager; (iv) if such entity is a corporation (ather than a F'ublicly-Held Corparaiion) with only ane class of voting stock, a Transfer of any voting stack which would cause the Initial Owners to own less than 51 % of voting stock in such corporation; (v) if such entity is a corporation (other than a Publicly-Held Carparation) with more than one class of voting stock, a Transfer of any vating stock which would cause the Initial �wners to own LE55 than a sufficient numb�r of shares of voting stock having the power to elect the majority of directors of such carparation; and (vi) if such entity is a trust (ather than a Publicly-T-Teld Trust), the removal, appointment or aubstitution of a trustee of such trust other than (A) in the case of a land trust, ar (B) if the trustee of such trust after such removal, appointment, or substitution is a trustee identified in the trust agreement appraved by Lender; and/or (B) any agreement (including provisions contained in the organizativnal and/ar gaverning dacuments of Sorrower or Key Principal) ar Transfer not specified in clause (A), the effect af which, either irnrnediately or after the passage of tirne or occurrence of a specified eVent or aandition, including the failure of a specified event or condition ta occur or be satisfied, would (i) cause a change in or replacem�nt of the Persan that controls the management and operatians af the Borrower or Key Principal or (ii) limit or otherwise modify the extent of such Persan's control over the management ar�d operations af Borrower or Key Principal. (3) "Publicly-Held CorparstiQn" shall mean � corporation the outstandin� voting stock of which 'rs registered under Section 12(b) or 12(g) of the Securities and Exchange Act af 1934, as amended. (4) "Publicly Trust" shall mean a real estate investm�nt trust the outstandin$ vating shares ar beneficial interests nf which are rcgistered under Section 12 (b) or 12 (g) of thc Securities Exchange Act of 1934, as amended. P'ANN1E MAE MULTIFAMI�,Y SF.CURITY INS"fRllMENT - Form 4028 06/09 Page 30 IVF,BRASKA � 1997-2009 rannie Mae