Common use of Competitive Activities Prohibited Clause in Contracts

Competitive Activities Prohibited. During the Term, Executive shall not, directly or indirectly (unless disclosed to Company and approved by Company in writing in its sole and absolute discretion): (a) engage in any activity competitive with or adverse to the business, activities or welfare of Company, whether alone, as an agent, as a lender, as a general or limited partner of a partnership, as a member or manager of a limited liability company, or as an officer, director or holder of the outstanding shares of capital stock of any corporation; (b) engage in any conduct or activity which would cause Company or Executive to be in a position of conflict of interest or cause Company to be in violation of any law, regulation, policy, statement or rule of any applicable governmental authority; or (c) undertake planning for or organization of any business activity competitive with Company's business.

Competitive Activities Prohibited. During the Term, Executive shall not, directly or indirectly (unless disclosed to Company and approved by Company in writing in its sole and absolute 2 discretion): (a) engage in any activity competitive with or adverse to the business, activities or welfare of Company, whether alone, as an agent, as a lender, as a general or limited partner of a partnership, as a member or manager of a limited liability company, or as an officer, director or holder of the outstanding shares of capital stock of any corporation; (b) engage in any conduct or activity which would cause Company or Executive to be in a position of conflict of interest or cause Company to be in violation of any law, regulation, policy, statement or rule of any applicable governmental authority; or (c) undertake planning for or organization of any business activity competitive with Company's business.