Common use of Restrictions on Equity Investments Clause in Contracts

Restrictions on Equity Investments. During the Term, Itau shall not acquire ---------------------------------- Voting Control of, or a [*] ([*]%) or more Equity Interest in, any Access Provider in the Territory or an entity set forth on Exhibit H (an "AOLB Designated Entity"). The foregoing sentence shall not preclude Itau from acquiring Voting Control of or more than a [*] ([*]%) Equity Interest in a Portal Entity unless and until such Portal Entity or such Independent Financial Services Portal is or becomes an Access Provider, in which case Itau shall be required to come into compliance with the provisions of this Section 2.4 within [*] after such Portal Entity or Independent Financial Services Portal becomes an Access Provider. AOLB may amend Exhibit H on a bi-annual basis upon fifteen (15) days prior written notice, so long as the total number of entities listed on Exhibit H does not exceed [*] and such list only includes [*]. In addition, such entities may not include Itau or any of its Affiliates. The provisions of this Section 2.4 shall not preclude Itau from maintaining Voting Control or retaining any Equity Interest in any Person, provided that such Voting Control or Equity Interest was acquired prior to the date Exhibit H is amended to restrict Itau's Equity Interest in such Person. This Section 2.4 shall not preclude Itau from acquiring Voting Control of or any level of Equity Interest in any Person that owns or controls such an Access Provider or AOLB Designated Entity so long as the assets of such Access Provider or AOLB Designated Entity do not comprise more than [*] percent [*]% of the assets of such Person. In the event Itau has or acquires Voting Control or Equity Interests in any Person that owns or controls such an Access Provider or AOLB Designated Entity in violation of this Section 2.4 or otherwise ends up in violation of this Section as a result of a recapitalization, stock repurchase, reverse stock split or other similar transaction not within the control of Itau, Itau shall have six (6) months from such date to come into compliance with the provisions of this Section 2.4 with respect to such Person. Itau shall have six (6) months from the Effective Date to come into compliance with this Section 2.4 with respect to any Voting Control or Equity Interests held as of the Effective Date. Any such noncompliance during such six (6) month periods shall not be a breach of this Section 2.4.

Restrictions on Equity Investments. During the Term, Itau shall not acquire ---------------------------------- Voting Control of, or a [*] twenty percent ([*]20%) or more Equity Interest in, any Access Provider in the Territory or an entity set forth on Exhibit H (an "AOLB Designated Entity"). The foregoing sentence shall not preclude Itau from acquiring Voting Control of or more than a [*] twenty percent ([*]20%) Equity Interest in a Portal Entity unless and until such Portal Entity or such Independent Financial Services Portal is or becomes an Access Provider, in which case Itau shall be required to come into compliance with the provisions of this Section 2.4 within [*] six (6) months after such Portal Entity or Independent Financial Services Portal becomes an Access Provider. AOLB may amend Exhibit H on a bi-annual basis upon fifteen (15) days prior written notice, so long as the total number of entities listed on Exhibit H does not exceed [*] five (5) and such list only includes [*]Horizontal Portals. In addition, such entities may not include Itau or any of its Affiliates. The provisions of this Section 2.4 shall not preclude Itau from maintaining Voting Control or retaining any Equity Interest in any Person, provided that such Voting Control or Equity Interest was acquired prior to the date Exhibit H is amended to restrict Itau's Equity Interest in such Person. This Section 2.4 shall not preclude Itau from acquiring Voting Control of or any level of Equity Interest in any Person that owns or controls such an Access Provider or AOLB Designated Entity so long as the assets of such Access Provider or AOLB Designated Entity do not comprise more than [*] twenty percent [*]% (20%) of the assets of such Person. In the event Itau has or acquires Voting Control or Equity Interests in any Person that owns or controls such an Access Provider or AOLB Designated Entity in violation of this Section 2.4 or otherwise ends up in violation of this Section as a result of a recapitalization, stock repurchase, reverse stock split or other similar transaction not within the control of Itau, Itau shall have six (6) months from such date to come into compliance with the provisions of this Section 2.4 with respect to such Person. Itau shall have six (6) months from the Effective Date to come into compliance with this Section 2.4 with respect to any Voting Control or Equity Interests held as of the Effective Date. Any such noncompliance during such six (6) month periods shall not be a breach of this Section 2.4.

Restrictions on Equity Investments. During the Term, Itau neither AOLA nor ---------------------------------- AOLB shall not acquire ---------------------------------- Voting Control of, or a [*] percent ([*]%) or more Equity Interest in, in any Access Provider Financial Institution operating in the Territory or an entity set forth on Exhibit H (an a "AOLB Designated EntityBrazilian Financial Institution"). The foregoing sentence shall not preclude Itau AOLA or AOLB from acquiring Voting Control of or more than a [*] ([*]%) Equity Interest in a Portal Entity unless and until such Portal Entity or such Independent Financial Services Portal is or becomes an Access Providera Brazilian Financial Institution, in which case Itau AOLA and AOLB shall be required to come into compliance with the provisions of this Section 2.4 7.2 within [*] after such Portal Entity or Independent Financial Services Portal becomes an Access Provider. AOLB may amend Exhibit H on receives a bi-annual basis upon fifteen (15) days prior written noticelicense as a Financial Institution in the Territory from the Brazilian Central Bank, so long SUSEP or CVM, as the total number of entities listed on Exhibit H does not exceed [*] and such list only includes [*]case may be. In addition, such entities may not include Itau or any of its Affiliates. The provisions of this This Section 2.4 7.2 shall not preclude Itau from maintaining Voting Control AOLA or retaining any Equity Interest in any Person, provided that such Voting Control or Equity Interest was acquired prior to the date Exhibit H is amended to restrict Itau's Equity Interest in such Person. This Section 2.4 shall not preclude Itau AOLB from acquiring Voting Control of or any level of Equity Interest in any Person that owns or controls such an Access Provider or AOLB Designated Entity a Brazilian Financial Institution (e.g., a regional bank holding company) so long - - as the assets of such Access Provider or AOLB Designated Entity the Brazilian Financial Institution do not comprise more than [*] percent ([*]% %) of the assets of such Person. In the event Itau AOLA or AOLB has or acquires Voting Control or Equity Interests in any Person entity that owns or controls such an Access Provider or AOLB Designated Entity a Brazilian Financial Institution in violation of this Section 2.4 7.2 or otherwise ends up in violation of this Section as a result of a recapitalization, stock repurchase, reverse stock split or other similar transaction transactions not within the control of ItauAOLA or AOLB, Itau AOLA and AOLB shall have six (6) months [*] from such date to come into compliance with the provisions of this Section 2.4 7.2 with respect to such Person. Itau AOLA and AOLB shall have six (6) months from the Effective Date to come into compliance with this Section 2.4 7.2 with respect to any Voting Control or Equity Interests held as of the Effective Date. Any such noncompliance during such six (6) month periods shall not be a breach of this Section 2.47.2.