Common use of Outside Interests Clause in Contracts

Outside Interests. 6.1 The Executive shall not at any time during the Term without the prior notification to and sanction by the Board be or become a director of any company (other than any members of the Group) or be directly or indirectly engaged or concerned or interested in any other companies which carries on business of a similar nature to the Business. 6.2 Nothing in this Agreement shall prevent the Executive from: (a) being engaged, concerned, interested in any other business, trade or occupation with the prior notification to and sanction by the Board; or (b) holding or being beneficially interested in less than 5% in any class of securities in any company if such class of securities is listed on a stock exchange or the relevant company does not carry on any business which competes with the Business of the Group. 6.3 The following provisions shall apply in relation to any application for consent under clause 6.2(a): (a) the Executive shall furnish to the Board a description of the nature of the business, trade or occupation in which he intends to engage, the nature of the duties required and information as the Board may require from time to time; and (b) the Executive shall (as a condition precedent to such consent) furnish to the Board an undertaking that the matter represented in the statement referred to in clause 6.3(a) will at all times during the Term remain correct and accurate and that he will not during the Term act in variance thereof.