Common use of Seller's Restricted Individuals Clause in Contracts

Seller's Restricted Individuals. and Buyer agree that Seller's Restricted Individuals may own, manage, operate and develop no more than three (3) health clubs in the aggregate prior to the third (3rd) anniversary of the date hereof (each new club of Seller's Restricted Individuals or their affiliates, a "New Seller Club"), with the understanding that each of Seller's Restricted Individuals shall have the right, title and interest to either open one New Seller Club or transfer or sell such right, title and interest to one of the other Seller's Restricted Individuals from any time after the date through and including the third (3rd) anniversary of this Agreement; provided, however, that nothing in this Section 4 shall be construed to allow any of the new health clubs owned, managed, operated or developed by any of Seller's Restricted Individuals or their affiliates to violate the provisions of Section 1 or Section 2 of this Agreement.

Seller's Restricted Individuals. and Buyer agree that Seller's Restricted Individuals may own, manage, operate and develop no more than three (3) health clubs in the aggregate prior to the third (3rd) anniversary of the date hereof (each new club of Seller's Restricted Individuals or their affiliates, a "New Seller Club"), with the understanding that each of Seller's Restricted Individuals shall have the right, title and interest to either open one New Seller Club or transfer or sell esell such right, title and interest to one of the other Seller's Restricted Individuals from any time after the date through and including the third (3rd) anniversary of this Agreement; provided, however, that nothing in this Section 4 shall be construed to allow any of the new health clubs owned, managed, operated or developed by any of Seller's Restricted Individuals or their affiliates to violate the provisions of Section 1 or Section 2 of this Agreement.