Common use of Related Party Matters Clause in Contracts

Related Party Matters. (a) Except as set forth in Section 3.24(a) of the Seller Disclosure Letter, no Related Person (i) owns, directly or indirectly, any interest in (excepting not more than a one percent share holding for investment purposes in securities of publicly held and traded companies), or is an officer, director, partner, employee or consultant of, any Person which is a competitor, lessor, lessee, customer or supplier of Seller; (ii) holds a beneficial interest in any Assumed Contract or other agreement of Seller that is an Acquired Asset (other than stock options and other contracts, commitments or agreements between Seller and such persons in their capacities as employees, officers or partners of Seller); (iii) owns, directly or indirectly, in whole or in part, any tangible or intangible property (including, without limitation, any patent, trademark, trade name, service xxxx, franchise, invention, permit, license, trade secret or confidential information) which is an Acquired Asset or which Seller is using or the use of which is necessary for the Business; or (iv) has any cause of action or other claim whatsoever against Seller with respect to the Business or the Acquired Assets.