The Borrower shall not, and shall not permit any Guarantor or Subsidiary of any of them to, permit to exist or enter into, any transaction (including the purchase, sale, lease or exchange of any property or the rendering of any service) with any Affiliate (but not including the Borrower or any Guarantor), except (i) transactions set forth on Schedule 6.14 attached hereto, (ii) transactions in the ordinary course of business pursuant to the reasonable requirements of the business of such Person and upon fair and reasonable terms which are no less favorable to such Person than would be obtained in a comparable arm’s length transaction with a Person that is not an Affiliate, (iii) sales, transfers and conveyances of assets permitted pursuant to §8.8 or §12.2(b), (iv) agreements providing for the rental of an apartment unit to an officer or employee or Borrower, any Guarantor or any of their respective Subsidiaries or Affiliates at a discounted rate (i.e., an employee discount or short-term corporate rental), or for free as an incentive for services performed by such Person (i.e., an on-site property manager’s apartment), provided that all of such transactions, when considered in the aggregate, shall not be material to the operations of Borrower or any Unencumbered Pool Property, and (v) transfers or allocations of furniture, equipment and other personal property or services among properties owned by Borrower, any Guarantor or any of their respective Affiliates, provided that all of such transactions, when considered in the aggregate, shall not be material to the operations of Borrower or any Unencumbered Pool Property.