Restrictive Covenant Violation Sample Clauses
A Restrictive Covenant Violation clause defines the consequences and remedies if a party breaches agreed-upon restrictions, such as non-compete, non-solicitation, or confidentiality obligations. Typically, this clause outlines the actions considered violations, the process for addressing breaches, and potential penalties or injunctive relief available to the non-breaching party. Its core function is to deter parties from engaging in prohibited conduct and to provide clear recourse if such conduct occurs, thereby protecting the legitimate business interests of the party imposing the restrictions.
POPULAR SAMPLE Copied 1 times
Restrictive Covenant Violation. The term “Restrictive Covenant Violation” means the Participant’s breach of any of the Restrictive Covenants set forth in Section 10 of this Agreement or any covenant regarding confidentiality, competitive activity, solicitation of the Company’s or any of its Affiliates’ or Subsidiaries’ vendors, suppliers, customers or employees or any similar provision applicable to or agreed to by the Participant, all to the extent permitted by law.
Restrictive Covenant Violation. The term “Restrictive Covenant Violation” shall mean Executive’s breach of any provision of Appendix A hereto or any Other Restrictive Covenant.
Restrictive Covenant Violation. The Participant’s breach of Section 5(c), Section 5(d), Section 5(e), Section 5(f) or Section 5(g) of this Agreement or any similar provision to which the Participant has agreed to be bound.
Restrictive Covenant Violation. If a Restrictive Covenant Violation occurs, then the purchase price per Unit will be the lesser of (A) Fair Market Value (measured as of the Repurchase Notice Date) and (B) Cost; and
Restrictive Covenant Violation. Grantee acknowledges and recognizes the highly competitive nature of the businesses of the Company and its Affiliates and accordingly agrees to the provisions of Appendix A and, if applicable, Appendix B to this Agreement. If the Grantee breaches such restrictions in Appendix A or Appendix B to this Agreement, the Grantee hereby agrees that, in addition to any other remedy available to the Company in respect of such activity or breach, the Grantee’s Restricted Stock Units will be forfeited and, if the Grantee has disposed of all or any portion of such Restricted Stock Units prior to the date of such forfeiture, then, in respect of all or any portion of such Restricted Stock Units, the Grantee shall repay to the Company an amount equal to the aggregate after-tax proceeds (taking into account all amounts of tax that would be recoverable upon a claim of loss for payment of such proceeds in the year of repayment) the Grantee received upon the sale or other disposition of, or distributions in respect of, the Grantee’s Restricted Stock Units.
Restrictive Covenant Violation the Participant’s breach of the Restrictive Covenants set forth in Section 7 or any covenant regarding noncompetition, nonsolicitation, noninterference, non-disparagement, confidentiality, or any similar provision, applicable to or agreed to by the Participant.
Restrictive Covenant Violation. Participant acknowledges and recognizes the highly competitive nature of the businesses of the Company and its Affiliates and accordingly agrees to the provisions of Appendix A to this Agreement. If the Participant breaches such restrictions in Appendix A to this Agreement, the Participant hereby agrees that, in addition to any other remedy available to the Company in respect of such activity or breach, the Participant’s Performance Stock Units will be forfeited and, if the Participant has disposed of all or any portion of such Performance Stock Units before the date of such forfeiture, then, in respect of all or any portion of such Performance Stock Units, the Participant shall repay to the Company an amount equal to the aggregate after-tax proceeds (taking into account all amounts of tax that would be recoverable upon a claim of loss for payment of such proceeds in the year of repayment) the Participant received upon the sale or other disposition of, or distributions in respect of, the Grantee’s Performance Stock Units.
Restrictive Covenant Violation. Optionee acknowledges and recognizes the highly competitive nature of the businesses of the Company and its Affiliates and accordingly agrees to the provisions of Appendix A and, if applicable, Appendix B to this Agreement. If the Optionee breaches such restrictions in Appendix A or Appendix B to this Agreement, the Optionee hereby agrees that, in addition to any other remedy available to the Company in respect of such activity or breach, the Optionee’s Option will be forfeited and, if the Optionee has disposed of all or any portion of such Option prior to the date of such forfeiture, then, in respect of all or any portion of such Option, the Optionee shall repay to the Company an amount equal to the aggregate after-tax proceeds (taking into account all amounts of tax that would be recoverable upon a claim of loss for payment of such proceeds in the year of repayment) the Optionee received upon the sale or other disposition of, or distributions in respect of, the Optionee’s Option.
Restrictive Covenant Violation. If a Restrictive Covenant Violation occurs, then the purchase price per Share will be the lesser of (A) Fair Market Value (measured as of the purchase date) and (B) Cost (in each case, less, in the case of Options, the Option Price); or
Restrictive Covenant Violation. The term “Restrictive Covenant Violation” shall mean the Participant’s breach of Section 5(c), Section 5(d), Section 5(e), Section 5(f) or Section 5(g) of the Option Agreement or any similar provision to which the Participant has agreed to be bound.