Noncompete Agreements Clause Samples

Noncompete Agreements. Each member of the Seller Board shall have executed and delivered a noncompete agreement in the form attached as Exhibit B.

Noncompete Agreements. Sterling shall have received Noncompete Agreements executed and delivered by each of the Key Company Officials.

Noncompete Agreements. SBKC shall have received from each director and executive officer of Neighbors a signed mutually satisfactory noncompete agreement providing that for a period of two years after the Effective Time, such director will not serve on the board of directors of any financial institution (or holding company therefore) with offices located within 15 miles of the main office of Neighbors in Alpharetta, Georgia.

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Noncompete Agreements. Each member of the Target Board shall have executed and delivered a noncompete agreement in the form attached as Exhibit D.

Noncompete Agreements. To the extent any employees of Seller who become employed by Buyer after the Closing Date are parties to a noncompete agreement with Seller, Seller agrees that it will not enforce the non-competition provision of any such agreement arising solely from the employee's employment by Buyer or any of its affiliates.

Noncompete Agreements. Purchaser shall have received from each director of Target a signed noncompete agreement substantially in the form attached hereto as Exhibit D. The noncompete agreements shall be delivered to Purchaser within 30 days from the execution of this Agreement.

Noncompete Agreements. Each non-employee member of the Target Board who either will become a member of the Buyer’s Board or the Richmond Advisory Board and each employee member of the Target Board shall have executed and delivered a noncompete agreement in the form attached as Exhibit C.

Noncompete Agreements. (a) For a period of two years following the date of Closing neither Seller nor Member shall directly or indirectly (i) act or serve as an employee (except in a capacity which does not involve management, executive, policy-making, sales, marketing, product development, finance, or accounting activities or advice to management, sales, marketing, development or accounting personnel), officer, director, manager, trustee, agent, operator, advisor, or consultant for any Competing Business (as defined below) operating within the Area; (ii) have any beneficial ownership or equity interest (except for an ownership interest of less than one percent in any company subject to the reporting requirements of the Exchange Act) in any Competing Business operating within the Area, whether such interest is derived as a sole proprietor, partner, Member, beneficiary, or otherwise, or have any right, option, agreement, understanding, or arrangement to acquire any such interest; (iii) solicit, divert, or appropriate, or attempt to solicit, divert, or appropriate to or for a Competing Business the business of any person or entity located within the Area which was a customer of the Seller on or within one year prior to the Closing Date (or later termination of employment) or the business of which the Seller had solicited within one year prior to the Closing Date (or later termination of employment). (b) For the purposes of this Section 5.5, "Competing Business" means any business which is engaged in the marketing of investment securities, in the manner being conducted on the date hereof at the offices of Seller in Houston, Texas or in any business which solicits any customer or client of Parent and its subsidiaries. "Area" shall mean the state of Texas.