COMPETING LINES OF BUSINESS; RELATED-PARTY TRANSACTIONS Clause Samples
The "Competing Lines of Business; Related-Party Transactions" clause defines the rules and limitations regarding a party's involvement in businesses that may compete with the other party, as well as transactions involving affiliates or related entities. Typically, this clause outlines whether parties are permitted to engage in similar business activities independently, and sets requirements for disclosure or approval of any transactions with related parties, such as family members or companies under common control. Its core function is to prevent conflicts of interest and ensure transparency, thereby protecting the interests of all parties involved in the agreement.
COMPETING LINES OF BUSINESS; RELATED-PARTY TRANSACTIONS. Except as set forth on Schedule 3.21, neither the Shareholder nor any other Affiliate or Subsidiary of the Company owns, directly or indirectly, any interest in, or is an officer, director, employee or consultant of or otherwise receives remuneration from, any business which is a competitor, lessor, lessee, customer or supplier of the Company. Except as set forth on Schedule 3.21, no Shareholder, member of the board of directors, officer, or director of the Company has, nor during the period since inception through the date hereof, have any interest in any property, real or personal, tangible or intangible, used in or pertaining to the Company’s business.
COMPETING LINES OF BUSINESS; RELATED-PARTY TRANSACTIONS. Except as set forth in Schedule 5.22, neither the Stockholders nor any other Affiliate of the Company or the Stockholders owns, directly or indirectly, any interest in, or is an officer, director, employee or consultant of or otherwise receives remuneration from, any business which is in a Competitive Business or is a competitor, lessor, lessee, customer or supplier of the Company. Except as set forth in Schedule 5.22, no officer or director of the Company nor any Stockholder has any interest in any property, real or personal, tangible or intangible, used in or pertaining to the business of the Company.
COMPETING LINES OF BUSINESS; RELATED-PARTY TRANSACTIONS. Except as set forth on Schedule 5.22, neither any of the Stockholders nor any other affiliate of the Company owns, directly or indirectly, any interest in, or is an officer, director, employee or consultant of or otherwise receives remuneration from, any business which is a competitor, lessor, lessee, customer or supplier of the Company. Except as set forth on Schedule 5.22, no officer, director or Stockholder of the Company has, nor during the period beginning January 1, 1990 through the date hereof had, any interest in any property, real or personal, tangible or intangible, used in or pertaining to the Company's business.
COMPETING LINES OF BUSINESS; RELATED-PARTY TRANSACTIONS. Except as set forth in Schedule 5.22, neither the Stockholders nor any other Affiliate of any Company owns, directly or indirectly, any interest in, or is an officer, director, employee or consultant of or otherwise receives remuneration from, any business which is in a Competitive Business or is a competitor, lessor, lessee, customer or supplier of any Company. Except as set forth in Schedule 5.22, no officer or director of any Company nor any Stockholder has any interest in any property, real or personal, tangible or intangible, used in or pertaining to the business of any Company.
COMPETING LINES OF BUSINESS; RELATED-PARTY TRANSACTIONS. Except as set forth in Schedule 6.20, no officer or director or any other Affiliate of PointeCom owns, directly or indirectly, any interest (other than up to five percent (5%) of any class of securities listed on a national securities exchange or traded publicly in the over-the-counter market) in, or is an officer, director, employee or consultant of or otherwise receives remuneration from, any business which is in a Competitive Business or is a competitor, lessor, lessee, customer or supplier of PointeCom. Except as set forth in Schedule 6.20, no officer or director of PointeCom has any interest in any property, real or personal, tangible or intangible, used in or pertaining to the business of PointeCom.
COMPETING LINES OF BUSINESS; RELATED-PARTY TRANSACTIONS. Except as set forth in Schedule 2.24, neither the Seller nor any other Affiliate of the Companies owns, directly or indirectly, any interest in, or is an officer, director, employee or consultant of or otherwise receives remuneration from, any Competitive Business (as defined in Section 7.1(a)(i)), lessor, lessee, customer or supplier of any of the Companies. Except as set forth in Schedule 2.24, the Seller, nor any officer or director of any of the Companies, has, nor had any interest in any tangible or intangible assets or real or personal property used in or pertaining to the business of the Companies.
COMPETING LINES OF BUSINESS; RELATED-PARTY TRANSACTIONS. Except as set forth on SCHEDULE 3.22, neither the Stockholders nor any other affiliate of the Company owns, directly or indirectly, any interest in, or is an officer, director, employee or consultant of or otherwise receives remuneration from, any business which is a competitor, lessor, lessee, customer or supplier of the Company, except for ownership of less than 1% of the outstanding stock of any publicly traded company in which such person has no management or other similar position. Except as set forth on SCHEDULE 3.22, no officer, director or stockholder of the Company has any interest in any property, real or personal, tangible or intangible, used in or pertaining to the Company's business.
COMPETING LINES OF BUSINESS; RELATED-PARTY TRANSACTIONS. Except as set forth in Schedule 5.22, neither Stockholder nor any other Affiliate of either of the Sellers owns, directly or indirectly, any interest in, or is an officer, director, employee or consultant of or otherwise receives remuneration from, any Competitive Business, lessor, lessee, customer or supplier of either of the Sellers. Except as set forth in Schedule 5.22, no officer or director of either of the Sellers or Stockholder have, nor had any interest in any tangible or intangible assets or real or personal property used in or pertaining to the business of either of the Sellers.
COMPETING LINES OF BUSINESS; RELATED-PARTY TRANSACTIONS. Except as set forth in Schedule 5.22, and except for any equity interest of less than 1% owned by the Stockholder in any entity, neither the Stockholder nor, to the Knowledge of the Stockholder, any other Affiliate of the Company owns, directly or indirectly, any interest in, or is an officer, director, employee or consultant of or otherwise receives remuneration from, any business which is in the Business or is a lessor, lessee, customer or supplier of the Company. Except as set forth in Schedule 5.22 the Stockholder does not have and, to the Knowledge of the Stockholder, no officer or director of the Company has, any interest in any property, real or personal, tangible or intangible, used in or pertaining to the business of the Company.
COMPETING LINES OF BUSINESS; RELATED-PARTY TRANSACTIONS. Except as set forth in SCHEDULE 3.20, neither Stockholder nor any other Affiliate of the Company owns, directly or indirectly, any interest in, or is an officer, director, employee or consultant of or otherwise receives remuneration from, any business (excluding for this purpose the Company) which is a competitor, lessor, lessee, customer or supplier of the Company.