Restriction on Competitive Activities. Engage in any activities, perform any services or conduct, have an interest in or participate in any businesses that are competitive with any part of the business of the Company as currently conducted or as currently contemplated to be conducted (the “Business”), including without limitation, develop, create, license, sell, distribute or otherwise commercially exploit any product, service or methodology that has the same principal function or features as the Company’s proprietary software products and related services that constitute the Business.
Restriction on Competitive Activities. The Purchaser agrees that, from the Effective Date until the Expiration Date, the Purchaser will not, directly or indirectly, alone or together or through any affiliated entity, (a) engage directly in Competitive Activities or (b) own more than 20% of the outstanding voting equity securities of, any Competing Entity; provided, however, that notwithstanding anything to the contrary contained in this Noncompetition Agreement, it shall not be a breach of this Noncompetition Agreement if the Purchaser merges or consolidates with, or is otherwise acquired by (including by acquisition of all or substantially all of the assets or business of the Purchaser) any Competing Entity.
Restriction on Competitive Activities. The Executive agrees that for a period of eighteen months following the Liquidation Date, the Executive shall not, either for himself or for any other Person controlled by him, engage in any commercial activities in the gaming industry and shall not, directly or indirectly, own, manage, operate, control or participate in any manner in the ownership, management, operation or control of, or be connected as an officer, employee, partner, director, principal, consultant, agent or otherwise with, or have any financial interest in, or aid or assist anyone else in the conduct of, any business, venture or activity which is the same as or similar to, or otherwise competes with, any business, venture or activity which is being conducted or is proposed to be conducted by the Company or by any group, division or Subsidiary of the Company on or prior to the Liquidation Date in any area that is within a 75 mile radius of the hotel-casino in Reno, Nevada owned by FGC or its successors in interest, but excluding the geographic area within one-half mile of the shoreline of Lake Tahoe. Ownership of less than five percent of the publicly held voting stock of any corporation shall not, in and of itself, constitute a violation of this Section 2.1.
Restriction on Competitive Activities. During the ------------------------------------- Restriction Period (as defined below), Sellers and the Shareholder shall refrain, without the prior written consent of the Purchaser in each instance, from engaging in any Competitive Activity in any of the following geographic areas:
(i) Los Angeles,
(ii) Los Angeles, Santa Xxxxxxx, Orange, San Bernardino and Riverside Counties;
(iii) California;
(iv) California, New York, Washington, Oregon, Idaho, Utah, Nevada, New Mexico or Arizona; and
(v) The United States. As used herein, the "Restriction Period" period means the period commencing on the date hereof and ending (A) two years following the date on which the Shareholder's employment under the Employment Agreement is terminated, if such termination was by the Purchaser for "cause" (as therein defined) or by the Shareholder without "good reason" (as therein defined), or (B) two years following the date hereof (but in no event prior to the later of termination of the Shareholder's employment with the Purchaser, and the period during which the Purchaser is making any severance payments to the Shareholders pursuant to the Employment Agreement), if the Shareholder's employment under the Employment Agreement is terminated for any other reason.
Restriction on Competitive Activities. Stockholder agrees that, during the period commencing as of the Acceptance Time and ending on the Noncompetition Expiration Date, Stockholder will not (a) engage in Competitive Activities, (b) become employed by or act as a consultant to, or serve as a director, officer or partner of, any Competing Entity or (c) own (directly or indirectly through Affiliates or members of his immediate family holding securities on Stockholder's behalf) outstanding voting equity securities of any Competing Entity; provided, however, that notwithstanding anything to the contrary contained in this Noncompetition Agreement, Stockholder may (without being deemed to have breached any provision of this Noncompetition Agreement), own, as a passive investment, shares of capital stock or other equity interests of a corporation or other entity that is a Competing Entity if the shares or other equity interests in such corporation or other entity that are owned beneficially by Stockholder collectively represent less than five percent of the total number of shares of such corporation's outstanding capital stock or the total outstanding equity interests of such other entity, as the case may be.
Restriction on Competitive Activities. Stockholder agrees that, during the period commencing as of the Acceptance Time and ending on the Noncompetition Expiration Date, Stockholder will not (a) engage directly in Competitive Activities, (b) become employed by or act as a consultant to, or serve as a director, officer or partner of, any Competing Entity or (c) own more than five percent of the outstanding voting equity securities of any Competing Entity; provided, however, that notwithstanding anything to the contrary contained in this Noncompetition Agreement, Stockholder may (without being deemed to have breached any provision of this Noncompetition Agreement), own, as a passive investment, shares of capital stock or other equity interests of a corporation or other entity that is a Competing Entity if the shares or other equity interests in such corporation or other entity that are owned beneficially by Stockholder collectively represent less than five percent of the total number of shares of such corporation's outstanding capital stock or the total outstanding equity interests of such other entity, as the case may be.
Restriction on Competitive Activities. Until December 31, 2002, each ------------------------------------- of the Shareholders shall refrain, without the prior written consent of the Purchasers in each instance, from engaging in any Competitive Activity.
Restriction on Competitive Activities. 5 6.2. Restriction on Taking Employees or Customers...................... 5
Restriction on Competitive Activities. During the term of the Executive's employment hereunder and thereafter until the end of the twelfth full month (sixth full month, if the Executive's employment is terminated pursuant to Section 8.3 or Section 8.5) after the Date of Termination, the Executive shall not, directly or indirectly, own, manage, operate, control or participate in any manner in the ownership, management, operation or control of, or be connected as an officer, employee, partner, director, principal, consultant, agent or otherwise with, or have any financial interest in, or aid or assist anyone else in the conduct of any business, venture or activity which is the same as or competes with, any business, venture or activity which is being conducted or is proposed to be conducted by the Company or by any division or Subsidiary of the Company on or prior to the Date of Termination, in any area where such business is being conducted or is proposed to be conducted by any of the foregoing on or prior to the Date of Termination, whether or not the Company is to be compensated for such participation. Ownership of less than five percent of the publicly-held securities of any corporation shall not, in and of itself, constitute a violation of this Section 6.1.
Restriction on Competitive Activities. During the three-year period following the Redemption Date (the “Restriction Period”), Circuit City Stores shall not, directly or indirectly, engage in, invest in, provide financing for or become associated with any venture or entity, whether as principal, partner, joint venturer, member, consultant, advisor, agent or shareholder, that is engaged in the CarMax Business. During the Restriction Period, CarMax shall not, directly or indirectly, engage in, invest in, provide financing for or become associated with any venture or entity, whether as principal, partner, joint venturer, member, consultant, advisor, agent or shareholder, that is engaged in the Circuit City Business. “CarMax Business” shall mean the used-car superstore business utilizing the non-negotiated low price concept as well as the sale of new vehicles under franchise agreements with new vehicle manufacturers in any state (or the District of Columbia) in which CarMax is doing business as a retailer as of the Redemption Date. “Circuit City Business” shall mean the retail sale of consumer electronics, personal computers, entertainment software, including video equipment, audio equipment, mobile electronics, video and security systems, home office products, wireless phones, digital and 35 mm cameras, and a range of accessories in any state (or the District of Columbia) in which Circuit City Stores is doing business as a retailer as of the Redemption Date; provided that the Circuit City Business shall not include any such sale which is incidental to the sale of motor vehicles. The foregoing shall not prohibit Circuit City Stores or CarMax from owning or holding an ownership interest of no more than five percent (5%) of any class of securities of any publicly held corporation or from participating to any degree in an investment fund managed by a third party and not controlled, directly or indirectly, by Circuit City Stores or CarMax, respectively.
