Seller's Non-Compete. (a) Except for Seller's (and certain of Seller's employees) continuation of the Ghana Activities consistent in magnitude and scope with its current operations there, without the express prior written consent of Purchaser, neither Seller nor any Subsidiary of Seller shall, at any time during the seven-year period immediately following the Closing Date, directly or indirectly, own, manage, control or participate in the ownership, management or control of, or be related or otherwise affiliated in any manner with, any business that competes with the Business; and provided, further, that the foregoing shall not prohibit Seller from owning as a passive investment 5% or less of the outstanding equity of any publicly- traded entity. Seller agrees that Seller and Seller's Subsidiaries will not, for a period of two years after the Closing Date, seek to employ any person now employed by Seller for the primary benefit of the Business if such Person is then employed by Purchaser or any Subsidiary of Purchaser.
Appears in 4 contracts
Samples: Asset Purchase Agreement (Mining Services International Corp/), Asset Purchase Agreement (Mining Services International Corp/), Asset Purchase Agreement (Mining Services International Corp/)
