Common use of Consideration for Restrictions and Covenants Clause in Contracts

Consideration for Restrictions and Covenants. The parties hereto acknowledge and agree that the principal consideration for the agreement to make the severance payments provided in this Agreement by the Company to Executive is the Executive's compliance with the undertakings set forth in this Section 3. Specifically, the Executive agrees to comply with the provisions of this Section 3 irrespective of whether the Executive is entitled to receive any such payments.

Appears in 3 contracts

Samples: Severance Agreement (Universal Compression Inc), Severance Agreement (Universal Compression Holdings Inc), Severance Agreement (Universal Compression Holdings Inc)

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Consideration for Restrictions and Covenants. The parties hereto acknowledge and agree that the principal consideration for the agreement to make the severance payments provided in this Agreement by Sections 3 and 4 hereof from the Company to the Executive and the grant to the Executive of the stock units of the Company as set forth in Section 2 hereof is the Executive's compliance with the undertakings set forth in this Section 311. Specifically, the Executive agrees to comply with the provisions of this Section 3 11 irrespective of whether the Executive is entitled to receive any such paymentspayments under Section 3 or 4 of this Agreement.

Appears in 2 contracts

Samples: Retention Agreement (Toys R Us Inc), Retention Agreement (Toys R Us Inc)

Consideration for Restrictions and Covenants. The parties hereto acknowledge and agree that the principal consideration for the agreement to make the severance payments provided in this Agreement by Section 3 hereof from the Company to the Executive is the Executive's ’s compliance with the undertakings set forth in this Section 38. Specifically, the Executive agrees to comply with the provisions of this Section 3 8 irrespective of whether the Executive is entitled to receive any such paymentspayments under Section 3 of this Agreement.

Appears in 1 contract

Samples: Retention Agreement (Efunds Corp)

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Consideration for Restrictions and Covenants. The parties hereto acknowledge and agree that the principal consideration for the agreement to make the severance payments provided in this Agreement by Section 3 hereof from the Company to the Executive is the Executive's compliance with the undertakings set forth in this Section 38. Specifically, the Executive agrees to comply with the provisions of this Section 3 8 irrespective of whether the Executive is entitled to receive any such paymentspayments under Section 3 of this Agreement.

Appears in 1 contract

Samples: Retention Agreement (Efunds Corp)

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