Common use of Competition Law compliance Clause in Contracts

Competition Law compliance. 1. The Parties acknowledge that any activities carried out under the Agreement have to be carried out in full compliance with EU competition law, in particular but not limited to Articles 101 and 102 of the Treaty on the Functioning of the European Union as well as any applicable national laws. The Parties explicitly agree to observe CEFIC REACH Competition Law compliance guidance attached in Annex 1 to the Agreement, and which forms an integral part of the Agreement. 2. Should it become apparent at any time that the Agreement, any provision of the Agreement, or any activity or decision of the Parties, can have a potentially restrictive effect on open and fair competition, in breach of any legal provision, each Party to the Agreement shall take immediate steps to remedy that situation.