Non-Compete in Area of Interest Sample Clauses

Non-Compete in Area of Interest. Other than the Leases in Work, Sellers agree that for a twelve (12) month period, commencing on February 1, 2014, Sellers shall cease all oil and gas leasing activities (whether directly or indirectly) related to the lands located and identified on the map or plat attached hereto as Exhibit “B” (“Area of Interest”). It is understood and agreed by Purchaser that in the event Sellers secure any Leases in Work after 5:00 p.m. CST on June 2, 2014, Sellers shall promptly notify Purchaser of such acquisition and offer to sell same to Purchaser in accordance with the terms stated in Section 2.1(b) herein for the sale of Non-Producing Properties. Should Purchaser decline to accept such offer in writing within fifteen (15) days of receipt of such notice, then Purchaser shall be deemed to have waived its right to acquire such interests and the continuing ownership of same by Sellers shall not be a violation of this non-compete covenant.
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Non-Compete in Area of Interest. For a period of two years after the Closing Date, neither the Seller nor any Affiliate of the Seller shall directly or indirectly acquire any interest or right to acquire any interest in real property, mineral rights, exploration rights, water rights or other property rights related thereto on any property any part of which is within the Area of Interest; provided that, this Section 6.5 shall not prohibit the acquisition by Seller or any of its Affiliates of all or an interest in any Person which holds any interest in any such property or rights so long as the primary purpose of such acquisition is not to acquire all or an interest in such property or rights. If the Seller or any Affiliate of the Seller breaches this Section 6.5, the Seller shall be obligated to offer to convey to the Purchaser, without cost, any such interest so acquired (or ensure its Affiliate offers to convey such interest to the Purchaser, without cost, if the acquiring party is the Seller’s Affiliate). Such offer shall be made in writing and can be accepted by the Purchaser at any time within twenty-one (21) days after the offer is received by the Purchaser. Failure of an Affiliate of the Seller to comply with this Section 6.5 will constitute a breach of this Agreement by the Seller.
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Non-Compete in Area of Interest. FRI and Seller agree that for a twelve (12) month period commencing on the Closing Date, each of FRI and Seller shall cease leasing, buying or otherwise participating in any manner (whether directly or indirectly) in any and all oil and gas activities within the geographical area comprising any portion of the Assets, as well a three (3) mile radius around any portion of such Assets (collectively, the “Area of Interest”). During the twelve (12) month period following the Closing Date, FRI and Seller shall promptly notify Buyer in writing of any potential oil and gas activities in the Area of Interest, and in such event, FRI and/or Seller (as the case may be) shall be allowed to pursue such activities in the event Buyer declines to pursue such activities or otherwise fails to respond to FRI and/or Seller within thirty (30) days after receipt of such notice.
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Related to Non-Compete in Area of Interest

  • Non-Competition Period The “non-competition period” shall begin on January 1, 2021 and shall end twelve (12) months after the Employee’s termination of employment; provided, however, that the “non-competition period” shall end on the date Employee’s employment ends in the event of Employee’s termination for “good reason” (as defined in paragraph 6(d)), or Employee’s termination without “cause” (as defined in paragraph 3(d)).

  • Restricted Area For purposes of this Agreement, the term “Restricted Area” shall mean the United States of America.

  • Noncompetition Period “Noncompetition Period” shall mean the period commencing on the Effective Date and continuing until (i) nine (9) months following termination of Employee’s employment with Employer, unless clause (ii) applies, or (ii) if applicable, the last day of the Severance Period pursuant to Section 7(d)(A).

  • Non-compete Provision I agree that for the one (1) year period after the date my employment ends for any reason, including but not limited to voluntary termination by me or involuntary termination by Company, I will not, directly or indirectly, as an officer, director, employee, consultant, owner, partner, or in any other capacity solicit, perform, or provide, or attempt to perform or provide Conflicting Services anywhere in the Restricted Territory (as defined below), nor will I assist another person to solicit, perform or provide or attempt to perform or provide Conflicting Services anywhere in the Restricted Territory.

  • Restrictive Period The term “Restrictive Period” shall mean the period beginning on the Effective Date and ending two (2) years after the termination of the Executive’s employment hereunder.

  • Non-Compete During the term of this Agreement and for a period of twelve (12) months following the Director’s removal or resignation from the Board of Directors of the Company or any of its subsidiaries or affiliates (the “Restricted Period”), the Director shall not, directly or indirectly, (i) in any manner whatsoever engage in any capacity with any business competitive with the Company’s current lines of business or any business then engaged in by the Company, any of its subsidiaries or any of its affiliates (the “Company’s Business”) for the Director’s own benefit or for the benefit of any person or entity other than the Company or any subsidiary or affiliate; or (ii) have any interest as owner, sole proprietor, stockholder, partner, lender, director, officer, manager, employee, consultant, agent or otherwise in any business competitive with the Company’s Business; provided, however, that the Director may hold, directly or indirectly, solely as an investment, not more than one percent (1%) of the outstanding securities of any person or entity which is listed on any national securities exchange or regularly traded in the over-the-counter market notwithstanding the fact that such person or entity is engaged in a business competitive with the Company’s Business. In addition, during the Restricted Period, the Director shall not develop any property for use in the Company’s Business on behalf of any person or entity other than the Company, its subsidiaries and affiliates.

  • Noncompete Provisions (a) The Sub-Adviser hereby agrees that, the Sub-Adviser will:

  • During the Employment Period (i) Executive shall devote Executive's full time and energy solely and exclusively to the performance of Executive's duties described herein, except during periods of illness or vacation periods.

  • Non-Compete/Non-Solicit Except as described in the Registration Statement, the Statutory Prospectus and the Prospectus, to the Company’s knowledge, none of the Sponsor, officers, directors or director nominees of the Company is subject to a non-competition agreement or non-solicitation agreement with any employer or prior employer that could materially affect its, his or her ability to be and act in the capacity of shareholder, officer or director of the Company, as applicable.

  • Restricted Territory Executive and Company understand and agree that Company’s business is not geographically restricted and is unrelated to the physical location of Company facilities or the physical location of any Competing Business, due to extensive use of the Internet, telephones, facsimile transmissions and other means of electronic information and product distribution. Executive and Company further understand and agree that Executive will, in part, work toward expanding Company’s markets and geographic business territories and will be compensated for performing this work on behalf of Company. Accordingly, Company has a protectable business interest in, and the parties intend the Restricted Territory to encompass, each and every location from which Executive could engage in a Competing Business in any country, state, province, county or other political subdivision in which Company has clients, employees, suppliers, distributors or other business partners or operations. If, but only if, this Restricted Territory is held to be invalid on the ground that it is unreasonably broad, the Restricted Territory shall include each location from which Executive can conduct business in any of the following locations: each state in the United States in which Company conducts sales or operations, each province within Canada in which Company conducts sales or operations, and each political subdivision of the United Kingdom in which Company conducts sales or operations. If, but only if, this Restricted Territory is held to be invalid on the grounds that it is unreasonably broad, then the Restricted Territory shall be any location within a fifty (50) mile radius of any Company office.

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