Common use of Periods of Noncompliance and Reasonableness of Periods Clause in Contracts

Periods of Noncompliance and Reasonableness of Periods. The Restrictive Covenants shall be deemed not to run during all periods of noncompliance, the intention of the parties being to have such restrictions and covenants apply for the full periods specified following the Participant’s termination of employment with the Company. The Company and the Participant acknowledge and agree that the restrictions and covenants are reasonable in view of the nature of the Company's Business and the Participant's advantageous knowledge of and familiarity with the Company's Business, operations, affairs, and Customers. Notwithstanding anything contained herein to the contrary, if the scope of any restriction or covenant is found by a court of competent jurisdiction to be too broad to permit enforcement of such restriction or covenant to its full extent, then such restriction or covenant shall be enforced to the maximum extent permitted by law. The parties hereby acknowledge and agree that a court of competent jurisdiction shall invoke and exercise the blue pencil doctrine to the fullest extent permitted by law to enforce this Agreement.

Appears in 1 contract

Samples: Restricted Stock Award Agreement (Old National Bancorp /In/)

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Periods of Noncompliance and Reasonableness of Periods. The Restrictive Covenants described in Section 11 shall be deemed not to run during all periods of noncompliance, the intention of the parties being to have such restrictions and covenants apply for the full periods period specified in Section 11 following Termination of the ParticipantExecutive’s termination of employment with the CompanyEmployment. The Company and the Participant Executive acknowledge and agree that the restrictions and covenants contained in Section 11 are reasonable in view of the nature of the Company's ’s Business and the Participant's Executive’s advantageous knowledge of and familiarity with the Company's ’s Business, operations, affairs, and Customers. Notwithstanding anything contained herein to the contrary, if the scope of any restriction or covenant contained in Section 11 is found by a court of competent jurisdiction to be too broad to permit enforcement of such restriction or covenant to its full extent, then such restriction or covenant shall be enforced to the maximum extent permitted by law. The parties hereby acknowledge and agree that a court of competent jurisdiction shall invoke and exercise the blue pencil doctrine to the fullest extent permitted by law to enforce this Agreement.

Appears in 1 contract

Samples: Plan of Merger (Old National Bancorp /In/)

Periods of Noncompliance and Reasonableness of Periods. The Restrictive Covenants described in Section 10 shall be deemed not to run during all periods of noncompliance, the intention of the parties being to have such restrictions and covenants apply for the full periods period specified in Section 10 following Termination of the ParticipantExecutive’s termination of employment with the CompanyEmployment. The Company and the Participant Executive acknowledge and agree that the restrictions and covenants contained in Section 10 are reasonable in view of the nature of the Company's ’s Business and the Participant's Executive’s advantageous knowledge of and familiarity with the Company's ’s Business, operations, affairs, and Customers. Notwithstanding anything contained herein to the contrary, if the scope of any restriction or covenant contained in Section 10 is found by a court of competent jurisdiction to be too broad to permit enforcement of such restriction or covenant to its full extent, then such restriction or covenant shall be enforced to the maximum extent permitted by law. The parties hereby acknowledge and agree that a court of competent jurisdiction shall invoke and exercise the blue pencil doctrine to the fullest extent permitted by law to enforce this Agreement.

Appears in 1 contract

Samples: Severance Agreement (Old National Bancorp /In/)

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Periods of Noncompliance and Reasonableness of Periods. The Restrictive Covenants described in Section 11 shall be deemed not to run during all periods of noncompliance, the intention of the parties being to have such restrictions and covenants apply for the full periods period specified in Section 11 following Termination of the Participant’s termination of employment with the CompanyExecutive's Employment. The Company and the Participant Executive acknowledge and agree that the restrictions and covenants contained in Section 11 are reasonable in view of the nature of the Company's Business and the ParticipantExecutive's advantageous knowledge of and familiarity with the Company's Business, operations, affairs, and Customers. Notwithstanding anything contained herein to the contrary, if the scope of any restriction or covenant contained in Section 11 is found by a court of competent jurisdiction to be too broad to permit enforcement of such restriction or covenant to its full extent, then such restriction or covenant shall be enforced to the maximum extent permitted by law. The parties hereby acknowledge and agree that a court of competent jurisdiction shall invoke and exercise the blue pencil doctrine to the fullest extent permitted by law to enforce this Agreement.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Indiana Community Bancorp)

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