Common use of Section 16 Clause in Contracts

Section 16. The Parties shall take all reasonable steps as may be required to cause the transactions contemplated by this Article II and any other acquisitions of ALTISOURCE equity securities (including derivative securities) or dispositions of OCWEN equity securities (including derivative securities) in connection with this Agreement or the Separation Agreement by each individual who is a director or officer of OCWEN or ALTISOURCE subject to Section 16 of the Exchange Act to be exempt under Rule 16b-3 promulgated under the Exchange Act.

Section 16. The Parties shall take all reasonable steps as may be required to cause the transactions contemplated by this Article II III and any other acquisitions of ALTISOURCE Residential equity securities (including derivative securities) or dispositions of OCWEN ALTISOURCE equity securities (including derivative securities) in connection with this Agreement or the Separation Agreement by each individual who is a director or officer of OCWEN ALTISOURCE or ALTISOURCE Residential subject to Section 16 of the Exchange Act to be exempt under Rule 16b-3 promulgated under the Exchange Act.

Section 16. The Parties shall take all reasonable steps as may be required to cause the transactions contemplated by this Article II III and any other acquisitions of ALTISOURCE AAMC equity securities (including derivative securities) or dispositions of OCWEN ALTISOURCE equity securities (including derivative securities) in connection with this Agreement or the Separation Agreement by each individual who is a director or officer of OCWEN ALTISOURCE or ALTISOURCE AAMC subject to Section 16 of the Exchange Act to be exempt under Rule 16b-3 promulgated under the Exchange Act.