Limitation on Covenant. Ownership by Executive, as a passive investment, of less than five percent (5%) of the outstanding shares of capital stock of any corporation listed on a national securities exchange or publicly traded in the over-the-counter market shall not constitute a breach of this Section 10.
Limitation on Covenant. Ownership by Key Employee, as a passive investment, of less than five percent of the outstanding shares of capital stock of any corporation listed on a national securities exchange or publicly traded in the over-the-counter market shall not constitute a breach of this Section 7.01.
Limitation on Covenant. Ownership by a Seller Party, as a passive investment, of less than one percent (1%) of the outstanding shares of capital stock of any corporation listed on a national securities exchange or publicly traded in the over-the-counter market shall not constitute a breach of this Section 5.2.
Limitation on Covenant. The covenant set forth in Section 4.06 above shall not be applicable in any of the following circumstances:
(1) If Employee terminates this Agreement because the Company is in material violation of its obligations under this Agreement; or
(2) If any event should occur that gives rise to the incurrence by the Company of a severance obligation to Employee under Article VI of this Agreement.
Limitation on Covenant. Ownership by Executive, as a passive investment, of less than five percent (5%) of the outstanding shares of capital stock of any corporation listed on a national securities exchange or publicly traded in the over-the-counter market shall not constitute a breach of this Section 7.
Limitation on Covenant. Ownership by Xxxxxx, as a passive investment, of less than one percent (1%) of the outstanding shares of capital stock, outstanding debt instruments or other securities convertible into capital stock or debt instruments of any corporation listed on a national securities exchange or publicly traded on any nationally recognized over-the-counter market shall not constitute a breach of this Section 1.
Limitation on Covenant. The covenant set forth in Section 7(e) above shall not be applicable if the Consultant terminates this Agreement because the Company is in material violation of its obligations under this Agreement.
Limitation on Covenant. Ownership by Farixx, xx a passive investment, of less than one percent (1%) of the outstanding shares of capital stock, outstanding debt instruments or other securities convertible into capital stock or debt instruments of any corporation listed on a national securities exchange or publicly traded on any nationally recognized over-the-counter market shall not constitute a breach of this Section 1.
Limitation on Covenant. Ownership by Aiken, as a passive investment, of less than one percent (1%) of the outstanding shares of capital stock, outstanding debt instruments or other securities convertible into capital stock or debt instruments of any corporation listed on a national securities exchange or publicly traded on any nationally recognized over-the-counter market shall not constitute a breach of this Section 1.
Limitation on Covenant. Nothing in Section 2.7(a) (Covenant by Each Party) or 2.7(b) (Covenant by Pharmacopeia) shall be construed to **.
