Common use of Excepted Holder Clause in Contracts

Excepted Holder. In accordance with Section 3(Y) hereof, the Company will not cause the Buyer, RECP, or the Ownership Limitation Affiliates or any Qualifying Transferee to fail to be (a) exempt from the Ownership Limit (as defined in the Articles) pursuant to 6.1.7 of the Articles with respect to the Preferred Shares and the Allowed Common Shares as set forth in the Exemption Letter and (b) exempted from the "Interested Stockholder" and "Control Share Acquisition" provisions (Subtitles 6 and 7 of Title 3) of the Maryland General Corporation Law, with respect to the ownership by the Buyer, RECP, the Ownership Limitation Affiliates or any Qualifying Transferee of the Preferred Shares and any future ownership of Allowed Common Shares. As set forth in the Exemption Letter, the Company may demand reasonable information concerning any proposed transferee demonstrating that such Person satisfies the requirements to be a Qualifying Transferee (as set forth in Section 3(Y)) prior to registering such transfer of Preferred Shares or Allowed Common Shares.