Acceptance; Acorda Non-Competition Sample Clauses
The 'Acceptance; Acorda Non-Competition' clause establishes the conditions under which a party formally agrees to the terms of the agreement, specifically including a commitment not to compete with Acorda. In practice, this clause typically requires the signing party to acknowledge their acceptance of all contractual terms and to refrain from engaging in business activities that would directly or indirectly compete with Acorda for a specified period or within a certain geographic area. Its core function is to protect Acorda’s business interests by preventing former employees, partners, or affiliates from leveraging confidential knowledge or relationships to compete against the company, thereby reducing the risk of unfair competition.
Acceptance; Acorda Non-Competition. Subject to the provisions of the following sentence, Acorda hereby accepts such licence and confirms that Acorda and its Affiliates will not directly or indirectly market as a prescription medicine any other sustained release oral dosage form or transdermal form, containing the Compound or any other mono-or di-aminopyridine active agent, other than Product (“Acorda Competing Product”) during the period Acorda retains a licence under the Agreement and for one year thereafter. Should Acorda or its Affiliates market an Acorda Competing Product in the countries of the European Economic Area, Elan reserves as its sole remedy the right to terminate the exclusive licences granted to Acorda solely in the applicable country (ies) in which Acorda or its Affiliates market an Acorda Competing Product, which thenceforth for the remainder of the term of this Agreement shall become non-exclusive in nature in such countries of the European Economic Area, and to stop licensing improvements in such countries of the European Economic Area.