Common use of Qualification of Holder Nominees Clause in Contracts

Qualification of Holder Nominees. No Nominating Holder shall name any person as a Holder Nominee if (i) such person is not reasonably experienced in business or financial matters, (ii) such person has been convicted of, or has pled nolo contendere to, a felony, (iii) the election of such person would violate any applicable law, (iv) any event described in Item 401(f) of Regulation S-K promulgated under the 1933 Act has occurred with respect to such person, or (v) such person is an Affiliate of, or has a material financial interest in, (A) any individual or entity that engages, as the principal component of its business, in activities that are directly competitive with the Company in the executive suites business, or (B) any entity whose primary business is to invest in business to business e-commerce companies, which has invested an aggregate of at least $50 million in such companies.

Qualification of Holder Nominees. No Nominating Holder shall name -------------------------------- any person as a Holder Nominee if (i) such person is not reasonably experienced in business or financial matters, (ii) such person has been convicted of, or has pled nolo contendere to, a felony, (iii) the election of such person would ---- ---------- violate any applicable law, (iv) any event described in Item 401(f) of Regulation S-K promulgated under the 1933 Act has occurred with respect to such person, or (v) such person is an Affiliate of, or has a material financial interest in, (A) any individual or entity that engages, as the principal component of its business, in activities that are directly competitive with the Company in the executive suites business, or (B) any entity whose primary business is to invest in business to business e-commerce companies, which has invested an aggregate of at least $50 million in such companies.