Common use of Related Transaction Clause in Contracts

Related Transaction. Except as set forth in the Disclosure Materials, there are no obligations of the Buyer to officers, directors, shareholders or employees of the Buyer other than (a) for payment of salary for services rendered; (b) reimbursement for reasonable expenses incurred on behalf of the Buyer; and (c) for other standard employee benefits made generally available to all employees (including any stock options outstanding under the Option Plan). None of the officers, directors of shareholders of the Buyer, or any members of their immediate families, are indebted to the Buyer or have any direct or indirect ownership interest in any firm or corporation with which the Buyer has a business relationship, or any firm or corporation which competes with the Buyer, except that officers, directors and/or shareholders of the Buyer may own stock in publicly traded companies which may compete with the Company. No officer, director or shareholder, or any member of their immediate families, is, directly or indirectly, interested in any material contract with the Buyer (other than such contracts as relate to any such person's ownership of capital stock or other securities of the Buyer). Except as may be disclosed in the Financial Statements, the Buyer is not a guarantor or indemnitor of any indebtedness of any other person, firm or corporation.

Related Transaction. Except as set forth in the Disclosure Materials, there are no obligations of the Buyer Seller to officers, directors, shareholders or employees of the Buyer Seller other than (a) for payment of salary for services rendered; (b) reimbursement for reasonable expenses incurred on behalf of the BuyerSeller; and (c) for other standard employee benefits made generally available to all employees (including any stock options outstanding under the Option Plan). None of the officers, directors of shareholders of the BuyerSeller, or any members of their immediate families, are indebted to the Buyer Seller or have any direct or indirect ownership interest in any firm or corporation with which the Buyer Seller has a business relationship, or any firm or corporation which competes with the BuyerSeller, except that officers, directors and/or shareholders of the Buyer Seller may own stock in publicly traded companies which may compete with the CompanySeller. No officer, director or shareholder, or any member of their immediate families, is, directly or indirectly, interested in any material contract with the Buyer Seller (other than such contracts as relate to any such person's ownership of capital stock or other securities of the BuyerSeller). Except as may be disclosed in the Financial Statements, the Buyer Seller is not a guarantor or indemnitor of any indebtedness of any other person, firm or corporation.

Related Transaction. Except as set forth in the Disclosure Materials, there are no obligations of the Buyer to officers, directors, shareholders or employees of the Buyer other than (a) for payment of salary for services rendered; (b) reimbursement for reasonable expenses incurred on behalf of the Buyer; and (c) for other standard employee benefits made generally available to all employees (including any stock options outstanding under the Option Plan). None of the officers, directors of shareholders of the Buyer, or any members of their immediate families, are indebted to the Buyer or have any direct or indirect ownership interest in any firm or corporation with which the Buyer has a business relationship, or any firm or corporation which competes with the Buyer, except that officers, directors and/or shareholders of the Buyer may own stock in publicly traded companies which may compete with the CompanySeller. No officer, director or shareholder, or any member of their immediate families, is, directly or indirectly, interested in any material contract with the Buyer (other than such contracts as relate to any such person's ownership of capital stock or other securities of the Buyer). Except as may be disclosed in the Financial Statements, the Buyer is not a guarantor or indemnitor of any indebtedness of any other person, firm or corporation.