Common use of Restrictions on Collateral Development Clause in Contracts

Restrictions on Collateral Development. Lakes agrees that for five years after execution of the Agreements or the Term of the Agreements, whichever is greater, neither it nor any present or future Insider will directly or indirectly purchase any land or operate, manage, develop or have any direct or indirect interest in any commercial facilities or business venture located within 20 miles of the Facility without the prior written consent of the Band.

Restrictions on Collateral Development. Manager and Lakes agrees each agree that for five years after execution of the Agreements or the Term of the Agreements, whichever is greater, neither it nor any of its present or future Insider Insiders will directly or indirectly purchase any land or operate, manage, develop or have any direct or indirect interest in any commercial facilities or business venture located within 20 miles of the Facility without the prior written consent of the Band.