Common use of Consent Rights Clause in Contracts

Consent Rights. After the closing of the Kapson Investment, LFREI will not permit Kapson to and will cause Kapson to enter into an agreement with ARV under which Kapson will agree not to enter into any new developments or acquisitions (other than those in its pipeline at the closing of the Kapson Investment as disclosed in a schedule to be delivered at that time) without the written consent of a majority of the independent non-LFREI affiliated or appointed members of the ARV Board of Directors, which consent may be withheld at the sole discretion of those directors; provided that upon the funding of that certain $60,000,000 6 3/4% Convertible Subordinated Note due 2007 by LFREI or an affiliate this paragraph shall terminate and be of no further effect.