Common use of Exceptions to Observation Rights Clause in Contracts

Exceptions to Observation Rights. Notwithstanding anything in this Agreement to the contrary, the Board of Directors may limit the access of the Observer to any of the following types of materials or communication, or to any portion of any meeting to which any of the following considerations applies: (i) the materials, communications or meeting involve communications with counsel with respect to which the Board of Directors desires to maintain the right to assert attorney-client privilege, (ii) the materials, communications or meeting involve claims by, or transactions with, the Investor, the Observer or any Affiliate of the Investor or Observer (including any entity in which the Investor, the Observer or any Affiliate owns a 5% or greater equity interest), or (iii) the Board of Directors otherwise determines, in its reasonable, discretion, that granting the Observer access to such materials, communications or meeting would create a material risk to the interests of the Company.

Exceptions to Observation Rights. Notwithstanding anything in this Agreement to the contrary, the Board of Directors may limit the access of the Observer to any of the following types of materials or communication, or to any portion of any meeting to which any of the following considerations applies: (i) the materials, communications or meeting involve communications with counsel with respect to which the Board of Directors desires to maintain the right to assert attorney-client privilege, (ii) the materials, communications or meeting involve claims by, or transactions with, the Investor, the Observer or any Affiliate affiliate of the Investor or Observer (including any entity in which the Investor, the Observer or any Affiliate affiliate owns a 5% or greater equity interest), or (iii) the Board of Directors otherwise determines, in its reasonable, discretion, that granting the Observer access to such materials, communications or meeting would create a material risk to the interests of the Company.

Exceptions to Observation Rights. Notwithstanding anything in this Agreement to the contrary, the Board of Directors may limit the access of the Observer to any of the following types of materials or communication, or to any portion of any meeting to which any of the following considerations applies: (i) the materials, communications or meeting involve communications with counsel with respect to which the Board of Directors desires to maintain the right to assert attorney-client privilege, (ii) the materials, communications or meeting involve claims by, or transactions with, the Investor, the Observer or any Affiliate of the Investor or Observer (including any entity in which the Investor, the Observer or any Affiliate owns a 5% or greater equity interest), or (iii) the Board of Directors otherwise determines, in its reasonable, discretion, that granting the Observer access to such materials, communications or meeting would create a material risk to the interests of the Company. 7.