Common use of Material Relationships Clause in Contracts

Material Relationships. To the best of the Company's knowledge and belief, none of the officers, directors or "key persons" (as designated on Schedule A hereto) of the Company, or their respective spouses, or relatives, owns directly or indirectly, individually or collectively, a material interest in any entity which is a competitor, customer or supplier of (or has any existing contractual relationship with) the Company. For purposes of this Section 3.24, there may be disregarded any purely passive economic interest which arises solely from the ownership of less than a 2% equity interest in any such entity.