Passive Investment. 5.8 Notwithstanding anything in this Article, nothing in this Agreement shall be deemed to prevent or prohibit the Executive from owning shares in a publicly listed company as a passive investment, so long as the Executive does not own more than five per cent (5%) of the shares thereof.
Passive Investment. “Passive Investment” shall mean any direct or indirect investment where the investing Person does not possess, directly or indirectly, the power to direct or cause the direction of the management or policies of any Person, or the power to veto major policy decisions of such Person, whether through the ownership of voting securities, by agreement, or otherwise.
Passive Investment. The Employee may make passive investments in companies involved in the process control industry or other industries in which the Company operates, provided any such investment does not exceed a 5% equity interest, unless Employee obtains a consent to acquire an equity interest exceeding 5% from a vote of a majority of the directors (excluding the Employee).
Passive Investment. Ownership by Executive, as a passive investment, of less than 2.5% of the outstanding shares of capital stock of any corporation listed on a national securities exchange or publicly traded in the over‑the‑counter market shall not constitute a breach of this Section 4.
Passive Investment. The parties hereto acknowledge and agree that the Backstop Parties are making a passive investment in the Company and shall not be and are not entitled to be actively involved in the management or operation of the Company.
Passive Investment. Notwithstanding anything in this Section 5, nothing in this Agreement shall be deemed to prevent or prohibit the Executive from owning shares in a public company as a passive investment, so long as the Executive does not own more than 5% of the shares thereof.
Passive Investment. Nothing in this Section 4 shall be deemed to prevent Employee from purchasing or owning, directly or beneficially, as a passive investment, less than one (1) % of any class of the publicly traded securities of any corporation.
Passive Investment. Neither the Company nor any Subsidiary will become either a PFIC or a FPHC, unless the Purchaser provides its prior written consent to the Company; provided however, that such consent will not be withheld unless becoming a PFIC or a FPHC could have a material adverse effect on the consolidated Tax liability of the Company or any Subsidiary subject to United States federal income tax on a net basis.
Passive Investment. Seller holds the NEXUS ENTERPRISE SOLUTIONS Shares as a passive investment, and has no management power or involvement NEXUS ENTERPRISE SOLUTIONS affairs.
Passive Investment. The Company is not, has not been, nor has it owned (whether directly or indirectly) an interest in, a passive foreign investment company within the meaning of Section 1297 of the Code. The Company is not, nor at any time has it been, impacted by (x) the dual consolidated loss provisions of the Section 1503(d) of the Code, (y) the overall foreign loss provisions of Section 904(f) of the Code or (z) the recharacterization provisions of Section 952(c)(2) of the Code.
