Exceptions to the non-compete. The restrictions in Clause 12.1 shall not apply to:
Exceptions to the non-compete. It is hereby agreed that the following activities are expressly permitted and will not be considered as a violation by ACSP of the non-compete obligation: (i) holding of passive minority equity investment, of no more than 5% of the total share capital, in any publicly-held company engaged in Competing Activities in the Restricted Territory; (ii) passive investments in any discretionary investment funds not specifically targeted to Competing Entities or Competing Activities in the Restricted Territory; (iii) any activities with EFX or any of its Affiliates, including equity participation in EFX and any of its Affiliates; and (iv) equity participation, participation in the management and advisory services currently held/rendered by ACSP in certain entities (whether or not such entities engage or become involved in, or provide services related to, or otherwise support or facilitate the conduct of, Competing Activities in the Restricted Territory), as described in and limited to Annex 3.2; provided, however, that in no event shall ACSP support, facilitate or be involved in any Competing Activity of any such entity.
