Certain Competitive Activities Sample Clauses
The "Certain Competitive Activities" clause restricts parties from engaging in specific business activities that would compete with the interests of the other party, typically during or after the term of an agreement. This clause may outline prohibited actions such as starting a similar business, soliciting clients, or working for direct competitors within a defined geographic area and time frame. Its core function is to protect a party’s business interests and confidential information by preventing unfair competition and safeguarding valuable relationships.
Certain Competitive Activities. (a) You shall not engage in any Competitive Activity (as defined below) during the Term and for a period of two years following the Termination Date. In the event of a Change of Control or a termination of your employment by the Company without Cause or by you for Good Reason, then the provisions of this Section 8 shall not be effective.
(b) As used in this Section 8, “Competitive Activity” means substantial involvement in the management or operation of tankers transporting crude oil or other similar materials wherever such business is located in the world if such business is a competitor of the Company. Holding more than 50% of the voting equity of a business shall be deemed to be substantial involvement in its management or operations. Mere investment in 50% or less of such equity shall not in and of itself constitute such involvement.
Certain Competitive Activities. (a) The Consultant shall not engage in any Competitive Activity (as defined below) during the Term. In the event of a Change of Control or a termination of the Consultant’s engagement by the Company without Cause or by the Consultant for Good Reason, then provisions of these Sections 8 and 9 shall not be effective. The Board of Directors may, at its discretion, waive the provisions of these Sections 8 and 9 by providing you with a notice in writing to that effect. The Company shall give the Consultant prior written notice of any perceived breach and 10 business days to cure prior to taking any action.
(b) As used in this Section 8, “Competitive Activity” means involvement in the management or operation of or control, direct or indirect, of a publicly traded company that operates Platform Supply Vessels and Anchor Handlers wherever such business is located in the world if such business is or reasonably could become a competitor of the Company at the time the Consultant becomes affiliated with such company.
Certain Competitive Activities. (a) You shall not engage in any Competitive Activity (as defined below) during the Term. In the event of a Change of Control or a termination of your employment by the Company without Cause or by you for Good Reason, then provisions of this Section 8 shall not be effective. The Board of Directors may, at its discretion, waive the provisions of this Section 8 by providing you with a notice in writing to that effect. The Company shall give you prior written notice of any perceived breach and 10 business days to cure prior to taking any action.
(b) As used in this Section 8, "Competitive Activity" means involvement in the management or operation of or control, direct or indirect, of a publicly traded company that operates Platform Supply Vessels and Anchor Handlers wherever such business is located in the world if such business is or reasonably could become a competitor of the Company at the time you become affiliated with such company.
Certain Competitive Activities. (a) You shall not engage in any Competitive Activity (as defined below) while employed by the Company and for a period of two years thereafter provided that the provisions of this Section 8 shall be effective only during a period for which the Company pays you salary under Section 5(b) pursuant to the requirements of such section or otherwise. Notwithstanding the preceding sentence, the restriction against your engaging in Competitive Activity shall not be effective following a Change of Control or if you terminate your term of employment for Good Reason or the Company terminates your term of employment without Cause.
(b) As used in this Section 8, "Competitive Activity" means substantial involvement in the management or operation of tankers transporting crude oil or other materials wherever such business is located in the world if such business is a competitor of the Company. Holding more than 50% of the voting equity of a business shall be deemed to be substantial involvement in its management or operations. Mere investment in 50% or less of such equity shall not in and of itself constitute such involvement.
Certain Competitive Activities. (a) You shall not engage in any Competitive Activity (as defined below) during the Term and for a period of two years following the Termination Date. In the event of a Change of Control or a termination of your employment by the Company without Cause or by you for Good Reason, the provisions of this Section 8 shall not be effective.
(b) As used in this Section 8, “Competitive Activity” means substantial involvement in the management or operation of tankers transporting crude oil or other similar materials wherever such business is located in the world if such business is a competitor of the Company or any other member of the General Maritime Group. Holding more than 50% of the voting equity of a business shall be deemed to be substantial involvement in its management or operations. Mere investment in 50% or less of such equity shall not in and of itself constitute such involvement.
Certain Competitive Activities. (a) You shall not engage in any Competitive Activity (as defined below) during your service as a director of the Company and for a period of one (1) year thereafter. In the event of a Change of Control (as defined below), or a termination of your services hereunder prior to the Expiration Date because the Board of Directors or its Nominating and Corporate Governance Committee has declined to nominate you to serve as Chairman of the Board of Directors or the shareholders of the Company have declined to re-elect you to the Board of Directors, other than for cause, the provisions of this Section 9 shall not be effective. If you engage in any Competitive Activity in breach of this Section 9(a) following the Term, then the Company shall be entitled, on a non-exclusive basis, to (i) seek money damages to the extent they can reasonably be determined and (ii) injunctive and equitable relief on both a provisional and permanent basis in accordance with Section 10 hereof. The Company shall give you prior written notice of any perceived breach and ten (10) business days to cure prior to taking any action.
(b) As used in this Section 9, “Competitive Activity” means involvement in the management or operation of or control, direct or indirect, of a company that operates tankers transporting crude oil or other liquids wherever such business is located in the world if such business is or reasonably could become competitive with the business of the Company as it existed during the Term or a business that the Company was actively contemplating entering during the Term or, following the end of the Term, was actively considering as of the end of the Term.
Certain Competitive Activities. (a) You shall not engage in any Competitive Activity (as defined below) during the Term and for a period of two years thereafter. In the event of a Change of Control or a termination of your employment by the Company without Cause or by you for Good Reason, then provisions of this Section 8 shall not be effective. If you engage in Competitive Activity in breach of this Section 8(a) following the Termination Date, then the Company shall be entitled, on a non-exclusive basis, and at the Company's sole election, to (i) seek money damages to the extent ▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇e determined; and (ii) seek injunctive and equitable relief on both a provisional and permanent basis in accordance with Section 9 hereof. The Company shall give you prior written notice of any perceived breach and 10 business days to cure prior to taking any action.
(b) As used in this Section 8, "Competitive Activity" means involvement in the management or operation of or control, direct or indirect, of a company that operates tankers transporting crude oil or other materials wherever such business is located in the world if such business is or reasonably could become a competitor of the Company at the time you become affiliated with such company.
Certain Competitive Activities. The Shareholders agree and acknowledge that the Parent has participated in business activities that are competitive with the Business and that the Parent and its affiliates shall be permitted to continue to participate in such activities and to engage in other activities competitive with the Surviving Corporation, after the Effective Time.