Reasonableness of Restrictions; Reformation; Enforcement. The parties hereto recognize and acknowledge that the geographical and time limitations contained in paragraph 5 hereof are reasonable and properly required for the adequate protection of the Company's interests. It is agreed by the parties hereto that if any portion of the restrictions contained in paragraph 5 are held to be unreasonable, arbitrary, or against public policy, then the restrictions shall be considered divisible, both as to the time and to the geographical area, with each month of the specified period being deemed a separate period of time and each radius mile of the restricted territory being deemed a separate geographical area, so that the lesser period of time or geographical area shall remain effective so long as the same is not unreasonable, arbitrary, or against public policy. The parties hereto agree that in the event any court of competent jurisdiction determines the specified period or the specified geographical area of the restricted territory to be unreasonable, arbitrary, or against public policy, a lesser time period or geographical area that is determined to be reasonable, non-arbitrary, and not against public policy may be enforced against Executive. If Executive shall violate any of the covenants contained herein and if any court action is instituted by the Company to prevent or enjoin such violation, then the period of time during which the Executive's business activities shall be restricted, as provided in this Agreement, shall be lengthened by a period of time equal to the period between the date of the Executive's breach of the terms or covenants contained in this Agreement and the date on which such breach ends.
Appears in 2 contracts
Sources: Employment Agreement (Duravest Inc), Employment Agreement (Duravest Inc)
Reasonableness of Restrictions; Reformation; Enforcement. The parties hereto recognize Each GR&S recognizes and acknowledge acknowledges that the geographical and time limitations contained in paragraph 5 hereof this Article V are reasonable and properly required for the adequate protection of FBEC and the Company's interestsSystem. It is agreed by the parties hereto each GR&S that if any portion of the restrictions contained in paragraph 5 are held to this Article V be unreasonable, arbitrary, arbitrary or against public policy, then the restrictions shall be considered divisible, both as to the time and to the geographical area, with each month of the specified period being deemed a separate period of time and each radius mile of the restricted territory being deemed a separate geographical area, so that the lesser period of time or geographical area shall remain effective so long as the same is not unreasonable, arbitrary, arbitrary or against public policy. The parties hereto agree that in the event any court of competent jurisdiction determines the specified period or the specified geographical area of the restricted territory to be unreasonable, arbitrary, or against public policy, a lesser time period or geographical area that which is determined to be reasonable, non-arbitrary, and not against public policy may be enforced against Executive. each GR&S. If Executive GR&S shall violate any of the covenants contained herein and if any court action is instituted by the Company FBEC to prevent or enjoin such violation, then the period of time during which the Executive's business activities covenants of this Article V shall be restrictedapply, as provided in this Agreement, shall be lengthened by a period of time equal to the period between the date of the Executive's breach of the terms or covenants contained in this Agreement and the date on which such breach endsthe decree of the court disposing of the issues upon the merits shall become final and not subject to further appeal.
Appears in 1 contract
Reasonableness of Restrictions; Reformation; Enforcement. The parties hereto recognize and acknowledge that the geographical and time limitations contained in paragraph 5 inSection 9.3, Section 9.4 andSection 9.5 hereof are reasonable and properly required for the adequate protection of the Company's Buyer’s and Outback’s interests. It is agreed by the parties hereto that if any portion of the restrictions contained in paragraph 5 Section 9.3, Section 9.4 andSection 9.5 are held to be unreasonable, arbitrary, or against public policy, then the restrictions shall be considered divisible, both as to the time and as to the geographical area, with each month of the specified period being deemed a separate period of time and each radius mile of the restricted territory being deemed a separate geographical area, so that the lesser period of time or geographical area shall remain effective so long as the same is not unreasonable, arbitrary, or against public policy. The parties hereto agree that in the event any court of competent jurisdiction determines the specified period or the specified geographical area of the restricted territory to be unreasonable, arbitrary, or against public policy, a lesser time period or geographical area that is determined to be reasonable, non-arbitrarynonarbitrary, and not against public policy may be enforced against Executiveenforced. If Executive shall violate any of the covenants contained herein are violated and if any court action is instituted by the Company Buyer or Outback to prevent or enjoin such violation, then the period of time during which the Executive's business activities shall be restricted, as provided in this Agreement, shall be lengthened by a period of time equal to the period between the date of the Executive's breach of the terms or covenants contained in this Agreement and the date on which such breach endsthe decree of the court disposing of the issues upon the merits shall become final and not subject to further appeal.
Appears in 1 contract
Reasonableness of Restrictions; Reformation; Enforcement. The parties hereto recognize and acknowledge that the geographical and time limitations contained in paragraph 5 hereof Section 8.1, and Section 8.3and are reasonable and properly required for to protect the adequate protection of the CompanyBuyer's interests. It is agreed by the parties hereto Parties agree that if any portion of the restrictions contained in paragraph 5 are held to be unreasonable, arbitrary, or against public policy, then the restrictions shall will be considered divisible, both as to on the time and to the geographical area, with each month of the specified period being deemed a separate period of time and each radius mile of the restricted territory being deemed a separate geographical area, so that the lesser period of time or geographical area shall will remain effective so long as the same is not unreasonable, arbitrary, or against public policy. The parties hereto agree that in the event any court of competent jurisdiction determines the specified period or the specified geographical area of the restricted territory to be unreasonable, arbitrary, or against public policy, a lesser time period or geographical area that is determined to be reasonable, non-arbitrary, and not against public policy may be enforced against Executiveenforced. If Executive shall violate any of the covenants contained herein are violated and if any court action is instituted by the Company Buyer to prevent or enjoin such violation, then the period of time during which the Executive's business activities shall will be restricted, as provided in this Agreement, shall will be lengthened by a period of time equal to the period between the date of the Executive's breach of the terms or covenants contained in this Agreement and the date on which such breach endsthe decree of the court disposing of the issues upon the merits will become final and not subject to further appeal.
Appears in 1 contract
Sources: Asset Purchase Agreement