Common use of Mutually Dependent Clause in Contracts

Mutually Dependent. The provisions of Section 4 above regarding Rykhoek’s continued employment and DRI’s continuing obligations to Rykhoek which are related thereto, and the covenants and agreements of Rykhoek set forth in Section 6 above, are mutually dependent, and Rykhoek understands and agrees that a violation of any of the provisions of Section 6 above may be considered a material breach of this Agreement, and further acknowledges and agrees that irreparable harm to the Company would result from a breach by him of any such provisions. Accordingly, notwithstanding any provision of this Agreement to the contrary, Rykhoek will permanently forfeit any rights to continued employment by the Company as set out under the provisions of Section 4 above, and the Company may immediately terminate such employment, beginning on the date that either (i) Rykhoek violates any provision of Section 6 above, or (ii) all or any part of, or the application of, Section 6 above is held or found invalid or unenforceable for any reason whatsoever by a court of competent jurisdiction in an action between Rykhoek and DRI, and on such date any continuing obligations of the Company to Rykhoek tied to his continued employment shall be extinguished.

Appears in 1 contract

Samples: Officer Retirement Agreement (Denbury Resources Inc)

AutoNDA by SimpleDocs

Mutually Dependent. The provisions of Section 4 above regarding Rykhoek’s Xxxxx’ continued employment related to engineering and DRItechnical matters and the Company’s continuing obligations to Rykhoek Xxxxx which are related thereto, and the covenants and agreements of Rykhoek Xxxxx set forth in Section 6 above, are mutually dependent, and Rykhoek Xxxxx understands and agrees that a violation of any of the provisions of Section 6 above may will be considered a material breach of this Agreement, and further acknowledges and agrees that irreparable harm to the Company would result from a breach by him of any such provisions. Accordingly, notwithstanding any provision of this Agreement to the contrary, Rykhoek Xxxxx will permanently forfeit any rights to continued employment by the Company as set out under the provisions of Section 4 above, and the Company may immediately terminate such employment, beginning on the date that either (i) Rykhoek Xxxxx violates any provision of Section 6 above, or (ii) all or any part of, or the application of, Section 6 above is held or found invalid or unenforceable for any reason whatsoever by a court of competent jurisdiction in an action between Rykhoek Xxxxx and DRIthe Company, and on such date any continuing obligations of the Company to Rykhoek Xxxxx tied to his continued employment shall be extinguished.

Appears in 1 contract

Samples: Officer Resignation Agreement (Denbury Resources Inc)

Mutually Dependent. The provisions of Section 4 above regarding Rykhoek’s XxXxxxxxx’x continued employment related to operational and engineering matters and DRI’s continuing obligations to Rykhoek XxXxxxxxx which are related thereto, and the covenants and agreements of Rykhoek XxXxxxxxx set forth in Section 6 above, are mutually dependent, and Rykhoek XxXxxxxxx understands and agrees that a violation of any of the provisions of Section 6 above may will be considered a material breach of this Agreement, and further acknowledges and agrees that irreparable harm to the Company would result from a breach by him of any such provisions. Accordingly, notwithstanding any provision of this Agreement to the contrary, Rykhoek XxXxxxxxx will permanently forfeit any rights to continued employment by the Company as set out under the provisions of Section 4 above, and the Company may immediately terminate such employment, beginning on the date that either (i) Rykhoek XxXxxxxxx violates any provision of Section 6 above, or (ii) all or any part of, or the application of, Section 6 above is held or found invalid or unenforceable for any reason whatsoever by a court of competent jurisdiction in an action between Rykhoek XxXxxxxxx and DRI, and on such date any continuing obligations of the Company to Rykhoek XxXxxxxxx tied to his continued employment shall be extinguished.

Appears in 1 contract

Samples: Officer Resignation Agreement (Denbury Resources Inc)

Mutually Dependent. The provisions of Section 4 above regarding Rykhoek’s Xxxxxx’x continued employment related to operational and engineering matters and DRI’s continuing obligations to Rykhoek Xxxxxx which are related thereto, and the covenants and agreements of Rykhoek Xxxxxx set forth in Section 6 above, are mutually dependent, and Rykhoek Xxxxxx understands and agrees that a violation of any of the provisions of Section 6 above may will be considered a material breach of this Agreement, and further acknowledges and agrees that irreparable harm to the Company would result from a breach by him of any such provisions. Accordingly, notwithstanding any provision of this Agreement to the contrary, Rykhoek Xxxxxx will permanently forfeit any rights to continued employment by the Company as set out under the provisions of Section 4 above, and the Company may immediately terminate such employment, beginning on the date that either (i) Rykhoek Xxxxxx violates any provision of Section 6 above, or (ii) all or any part of, or the application of, Section 6 above is held or found invalid or unenforceable for any reason whatsoever by a court of competent jurisdiction in an action between Rykhoek Xxxxxx and DRI, and on such date any continuing obligations of the Company to Rykhoek Xxxxxx tied to his continued employment shall be extinguished.

Appears in 1 contract

Samples: Officer Resignation Agreement (Denbury Resources Inc)

AutoNDA by SimpleDocs

Mutually Dependent. The provisions of Section 4 above regarding Rykhoek’s Xxxxxxxxx’ continued employment related to operational, technical and engineering matters and DRI’s continuing obligations to Rykhoek Xxxxxxxxx which are related thereto, and the covenants and agreements of Rykhoek Xxxxxxxxx set forth in Section 6 above, are mutually dependent, and Rykhoek Xxxxxxxxx understands and agrees that a violation of any of the provisions of Section 6 above may will be considered a material breach of this Agreement, and further acknowledges and agrees that irreparable harm to the Company would result from a breach by him of any such provisions. Accordingly, notwithstanding any provision of this Agreement to the contrary, Rykhoek Xxxxxxxxx will permanently forfeit any rights to continued employment by the Company as set out under the provisions of Section 4 above, and the Company may immediately terminate such employment, beginning on the date that either (i) Rykhoek Xxxxxxxxx violates any provision of Section 6 above, or (ii) all or any part of, or the application of, Section 6 above is held or found invalid or unenforceable for any reason whatsoever by a court of competent jurisdiction in an action between Rykhoek Xxxxxxxxx and DRI, and on such date any continuing obligations of the Company to Rykhoek Xxxxxxxxx tied to his continued employment shall be extinguished.

Appears in 1 contract

Samples: Officer Resignation Agreement (Denbury Resources Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!