Solution for http://www.wpquestions.com/question/show/id/9780

box-2-code.php

<?php
$terms = get_terms('focus15', array(
    'exclude'     => array(16, 20, 22, 25, 27, 28, 30, 4, 33 ), //* Enter ID's of parent categories to exclude from list
    'hide_empty'        => 0 ) 	);

if($terms)
{
    echo '<ul>';
        foreach($terms as $term)
        {
    if( get_field('group_active_in_focus_15', 'focus15_'.$term->term_id) != 'active15' )
    continue;
            echo '<li>' . list_term_info($lc). '</a></li>';
        }
    echo '</ul>';
}
?>

funtion-code-to-be-in-functions.php-file.php

<?php

function list_term_info($lc) {

?>

<div class="col-lg-3">

<?php
$termlink = get_term_link($lc->slug, 'focus15'); ?>

    <div class="panel panel-default">

        <div class="panel-image">

            <div class="thumbnail">

                <div class="caption">

                    <br/><br/>   

                    <h1><span class="label label-info"><?php
                    echo $lc->count
                    ?></span></h1>

                    <p> Symbols </p>

                    <h4> <a class="label label-default" href="<?php
                    echo $termlink; ?>"> View Group</a> </h4> 

                </div>



            <!-- Get Image by Attachment ID Start-->

            <?php
            $attachment_id = get_field('taximage', 'focus15_' . $lc->term_id);

            if ($attachment_id) {
                
                $image = wp_get_attachment_image_src($attachment_id, 'industrygroup-img');
                
                if ($image) {
            ?>

            <img class="img-responsive" src="<?php
                    echo $image[0]; ?>" />

            <?php
                }
            } else { ?>

            <img class="img-responsive" src="http://www.MYSITE.com/wp-content/uploads/2014/08/RA-logo-300px-groups.jpg" alt="<?php
                the_title(); ?>" />

            <?php
            } ?>

            </div>

        <!-- Get Image by Attachment ID End-->

        </div>

    <div class="panel-footer text-center"><a href="<?php
    echo $termlink; ?>"><?php
    echo $lc->name; ?></a>

    </div>

    </div>      

</div>

<?php
}
?>