Common use of Ownership Restriction Clause in Contracts

Ownership Restriction. Notwithstanding any other provision of this Agreement, ASAC’s direct and indirect ownership of Shares in the aggregate shall at all times be less than 25% of the Outstanding Common Stock (the “Ownership Restriction”) and the General Partner shall not, and shall cause ASAC not to, take or approve (by vote, written consent or otherwise) any action or transaction which would reasonably be likely to result in ASAC exceeding the Ownership Restriction. In the event that ASAC, the General Partner and/or any of the Principals become aware of any pending action or transaction that would reasonably be likely to result in ASAC exceeding the Ownership Restriction, prior to such action or transaction taking place or being effective, the General Partner shall, and shall cause ASAC to, use its best efforts to take such actions as are necessary to ensure that the Ownership Restriction is not exceeded at any time.