Mutually Exclusive Rights Sample Clauses
The Mutually Exclusive Rights clause defines that certain rights granted to one party cannot be simultaneously granted to another party within the same agreement. In practice, this means if one party is given the exclusive right to distribute a product in a specific territory, no other party can be granted the same right for that territory during the term of the agreement. This clause is essential for preventing conflicts and overlaps in rights, ensuring that each party's granted rights are protected and clearly delineated.
Mutually Exclusive Rights. The rights of the Members described in Section 16.04, Section 16.05(a), and Section 16.05(b) in this Article XVI and in Section 20.03 are mutually exclusive, meaning that, if the exercise, or the right to exercise, one of such rights is pending or in process (the "Active Right"), neither of the other rights can be initiated, and no assignment that would be subject to either of the other rights can be initiated or completed, until the Active Right closes, lapses, or is otherwise terminated.