Obligation Not to Compete. The Company shall refrain from selling the Product in the Territory and shall not grant nor appoint any other person or entity as Distributor of the Product in the Territory. The Distributor shall not manufacture, sell or distribute any interferon or other products which compete with the Product. The Distributor may, however, continue its business activities with respect to such products as it sells or distributes on the date of signing this agreement as reflected in Exhibit E. The Distributor may nominate a Sub-Distributor upon submission of a request for approval and a copy of the draft Sub-Distributor Agreement which shall be submitted to the Company for its approval. No Sub-Distributor agreement shall be valid without the written approval of the Company. From the date of this agreement, Distributor shall not distribute, directly or indirectly, any products containing the same active ingredients as the Product. The Distributor hereby warrants that it shall not seek customers for the Product outside the Territory, sell the Product outside the Territory, or establish any branch or maintain any distribution depot outside the Territory. The Sub-Distributor Agreement shall require the Sub-Distributor to so warrant and the Distributor shall be accountable to the Company for enforcing this provision. The Distributor shall not have the right to produce the active ingredient of the Product.
Obligation Not to Compete. Employee hereby agrees that while he is employed by Company (the "Restricted Period"), Employee shall within the territory of the United States not engage in or provide services to any business that is competitive with or detrimental to any present or contemplated business of Company known to Employee. Employee also agrees that, during the Restricted Period, he shall not in any manner attempt to induce or assist others to attempt to induce any customer or client of Company to terminate his association with Company, nor do anything directly or indirectly to interfere with the relationship between Company and any such persons or concerns in the territory of the United States. Each of the following activities shall, without limitation, be deemed to constitute engaging in business within the meaning of Section 3 and 4: to engage in, work with, have an interest or concern in, advise, lend money to, guarantee the debts or obligations of, or permit one's name or any party thereof to be used in connection with, an enterprise of endeavor, either individually, in partnership or in conjunction with any person or persons, firms, associations, companies or corporations, whether as a principal, agent, shareholder, employee, officer, director, partner, consultant or in any other manner whatsoever; provided, however, that Employee shall retain the right to invest in or have an interest in entities traded on any public market or offered by any national brokerage house, provided that said interest does not exceed ten percent (10%) of the voting control of said entity. In addition, Employee may make passive investments in privately held entities that are determined by the Board of Directors of Company not to be competitors of Company. Company may elect to extend the term of this non-competition clause for a maximum period of six months following the termination according to Section 8.1. (b) and 8.1. (c) provided that a monthly fee in the amount of the last applicable monthly base salary is paid to Employee.
Obligation Not to Compete. 2.1 The term “
Obligation Not to Compete. Employee acknowledges the highly confidential nature of information regarding the Company’s businesses, customers, suppliers, employees, agents, independent contractors and consultants. Employee hereby agrees that (a) while he is employed by the Company and (b) during the one (1) year period following his termination of employment with the Company pursuant to Section 6.1 (the “Restricted Period”), Employee shall not engage in, assist others in engaging in or provide services to any organization, proprietorship or entity that engages in any business in which the Company or its affiliates is actively engaged or is actively considering engagement at the time of termination of Employee’s employment (“Competitive Business”). Employee also agrees that, during the Restricted Period, he shall not in any manner directly or indirectly, solicit, or encourage any customer, distributor, supplier, employee, agent, independent contractor, consultant or any other person or company to terminate or alter its relationship with the Company or its affiliates. Each of the following activities shall, without limitation, be deemed to violate the provisions of this Section 5: to engage in, work with, have an interest or concern in, advise, lend money to, guarantee the debts or obligations of, or permit one’s name or any part thereof to be used in connection with, an enterprise or endeavor, either individually, in partnership, or in conjunction with any person or persons, firms, associations, companies, or corporations, whether as a principal, agent, shareholder, employee, officer, director, partner, consultant or in any other manner whatsoever, which engages in a Competitive Business; provided, however, that (i) Employee and/or his affiliates shall retain the right to invest in or have an interest in entities provided that said interest does not exceed five percent (5%) of the voting control of said entity and (ii) the Company and Employee acknowledge that the Employee and/or his affiliates currently have investments in, consultancies with and/or serve on the Board of Directors of (and may retain such positions), the entities listed on Exhibit B attached hereto.
Obligation Not to Compete. (a) The Sponsor covenants and agrees not to compete directly or indirectly, and shall cause its Subsidiaries and Affiliates and the directors and officers of the Sponsor and such Subsidiaries and Affiliates, not to compete directly or indirectly, with the business of the Company, and covenants and agrees that, except as provided in Section 10.2(a), the Company shall be the sole vehicle for all investments of the Algar Group and its shareholders in the Telecommunications and Information Technology Sector and therefore agrees to and shall cause its Subsidiaries and Affiliates, and the directors and officers of the Sponsor and such Subsidiaries and Affiliates, to channel through the Company all present and contemplated business, Business Opportunities, commercial activities and operations of the Algar Group in the Telecommunications and Information Technology Sector; and in furtherance of its covenant under this Section 10.1(a), and not in limitation thereof, the Sponsor covenants and agrees to Willxxxx xxxt it shall not, and shall cause its Subsidiaries and Affiliates not to, directly and/or indirectly, (i) form any other company; or (ii) otherwise subscribe for and/or purchase any share of any company; or (iii) acquire any quasi-equity interest, or otherwise participate in any company which is actually engaged or proposes to be engaged in the Telecommunications and Information Technology Sector, unless any new company referred to in (i) above is designed to be a Subsidiary of the Company or of any company of the Company Group.
Obligation Not to Compete. Employee hereby agrees that while he is employed by Company (the "Restricted Period"), Employee shall within the territory of the United States not engage in or provide services to any business that is competitive with or detrimental to any present or contemplated business of Company known to Employee. Employee also agrees that, during the Restricted Period, he shall not in any manner attempt to induce or assist others to attempt to induce any customer or client of Company to terminate his association with Company, nor do anything directly or indirectly to interfere with the relationship between Company and any such persons or concerns in the territory of the United States. Each of the following activities shall, without limitation, be 2 Page 2 Employment Agreement Michxxx X. XxXxxxxx
Obligation Not to Compete. During the period beginning on the date of this Agreement and ending 12 months after the termination of his employment for any reason or for no reason and whether or not for cause or for good reason, except on behalf of the Company, Executive will not anywhere directly or indirectly (whether through his employer, family members or other affiliated parties or otherwise) be employed or retained by, provide financing for, or solicit, contract or offer to provide or sell or purchase or otherwise deal in or with any product or service that is competitive with the Company’s products or services or planned products or services.
Obligation Not to Compete. Subject to the occurrence of the acquisition of the Shares and the Additional Shares, each of the Promising Sellers and Mx. Xxxx Xxxxxx Chijner hereby agree, for a term of 3 years from the Closing Date, that none of them, including the spouse and daughters of Mx. Xxxxxx in this obligation (with respect to the latter, as a third parties’ promise upon the terms of Article 1450 of the Civil Code), acting directly or indirectly, by themselves or through a third party, shall:
Obligation Not to Compete. 7.1 In the grant of options referred to in article 11.5 hereof by PHOENIX, the Employee covenants and agrees that he or she shall not at any time within the period of one (1) year following the termination of his or her employment hereunder, on his or her own behalf or on behalf of any person, whether directly or indirectly, in any capacity whatsoever, alone, through or in connection with any person, compete or be employed by a business which competes with the Business anywhere within Canada, the United States of America, the European Common Market or Switzerland.
Obligation Not to Compete
