Common use of Officer, Director and Promoter’s Information Clause in Contracts

Officer, Director and Promoter’s Information. During the past three (3) years, neither WLS or the Subsidiaries, nor any of their respective officers, directors or promoters has been the subject of: (a) a bankruptcy petition filed by or against any business of which WLS or the Subsidiaries or such other person was a general partner or executive officer either at the time of the bankruptcy or within two years prior to that time; (b) a conviction in a criminal proceeding or a pending criminal proceeding (excluding traffic violations and other minor offenses); (c) any order, judgment, or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction, permanently or temporarily enjoining, barring, suspending or otherwise limiting WLS or the Subsidiaries or any such other person from involvement in any type of business, securities or banking activities; or (d) a finding by a court of competent jurisdiction (in a civil action), the SEC, or the Commodity Futures Trading Commission to have violated a federal or state securities or commodities law, and the judgment has not been reversed, suspended, or vacated.

Officer, Director and Promoter’s Information. During Except as set forth on the Parent Disclosure Schedules, during the past three five (35) years, neither WLS or the Subsidiariesno Majesco Entity, nor any of their its respective officers, directors or promoters promoters, has been the subject of: (a) a bankruptcy petition filed by or against any business of which WLS or the Subsidiaries Majesco Entity or such other person was a general partner or executive officer either at the time of the bankruptcy or within two years prior to that time; (b) a conviction in a criminal proceeding or a pending criminal proceeding (excluding traffic violations and other minor offenses); (c) any order, judgment, or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction, permanently or temporarily enjoining, barring, suspending or otherwise limiting WLS or the Subsidiaries Majesco Entity or any such other person from involvement in any type of business, securities or banking activities; or (d) a finding by a court of competent jurisdiction (in a civil action), the SEC, or the Commodity Futures Trading Commission to have violated a federal or state securities or commodities law, and the judgment has not been reversed, suspended, or vacated.

Officer, Director and Promoter’s Information. During the past three five (35) years, neither WLS or VLS nor, to the Subsidiariesknowledge of the VLS Parties, nor any of their its respective officersofficers or directors, directors or promoters has been the subject of: (a) a bankruptcy petition filed by or against any business of which WLS or the Subsidiaries VLS or such other person was a general partner or executive officer either at the time of the bankruptcy or within two years prior to that time; (b) a conviction in a criminal proceeding or a pending criminal proceeding (excluding traffic violations and other minor offenses); (c) any order, judgment, or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction, permanently or temporarily enjoining, barring, suspending or otherwise limiting WLS or the Subsidiaries VLS or any such other person from involvement in any type of business, securities or banking activities; or (d) a finding by a court of competent jurisdiction (in a civil action), the SEC, or the Commodity Futures Trading Commission to have violated a federal or state securities or commodities lawLaw, and the judgment has not been reversed, suspended, or vacated.