Common use of Violation of Restrictive Covenant Clause in Contracts

Violation of Restrictive Covenant. If the Executive violates the restrictions contained in Section 6(a) and the Employer brings legal action for injunctive or other relief, the Employer shall not, as a result of the time involved in obtaining such relief, be deprived of the benefit of the full period of the Restrictive Period. Accordingly, the Restrictive Period shall be deemed to have the duration specified in Section 6(a) computed from the date the relief is granted but reduced by the time between the period when the Restrictive Period began to run and the date of the first violation of the restrictions contained in Section 6(a) by the Executive. In the event that a successor assumes and agrees to perform this Agreement, the restrictions contained in Section 6(a) shall continue to apply only to the primary service area of the Employer as it existed immediately before such assumption and shall not apply to any of the successor's other offices.

Appears in 13 contracts

Samples: Employment Agreement (Centrue Financial Corp), Employment Agreement (Centrue Financial Corp), Employment Agreement (Centrue Financial Corp)

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Violation of Restrictive Covenant. If the Executive violates the restrictions contained in Section 6(a) and the Employer brings legal action for injunctive or other relief, the Employer shall not, as a result of the time involved in obtaining such relief, be deprived of the benefit of the full period of the Restrictive Period. Accordingly, the Restrictive Period shall be deemed to have the duration specified in Section 6(a) computed from the date the relief is granted but reduced by the time between the period when the Restrictive Period began to run and the date of the first violation of the restrictions contained in Section 6(a) by the Executive. In the event that a successor assumes and agrees to perform this Agreement, the restrictions contained in Section 6(a) shall continue to apply only to the primary service area of the Employer as it existed immediately before such assumption and shall not apply to any of the successor's ’s other offices.

Appears in 11 contracts

Samples: Keith M. Roseland Employment Agreement (Centrue Financial Corp), Employment Agreement (Centrue Financial Corp), Employment Agreement (Centrue Financial Corp)

Violation of Restrictive Covenant. If the Executive violates the restrictions contained in Section 6(a) and the Employer Company brings legal action for injunctive or other relief, the Employer Company shall not, as a result of the time involved in obtaining such relief, be deprived of the benefit of the full period of the Restrictive Period. Accordingly, the Restrictive Period shall be deemed to have the duration specified in Section 6(a) computed from the date the relief is granted but reduced by the time between the period when the Restrictive Period began to run and the date of the first violation of the restrictions contained in Section 6(a) by the Executive. In the event that a successor assumes and agrees to perform this Agreement, the restrictions contained in Section 6(a) shall continue to apply only to the primary service area of the Employer Restrictive Area as it existed immediately before such assumption and shall not apply to any of the successor's other offices.. (c)

Appears in 2 contracts

Samples: Employment Agreement (Centrue Financial Corp), Employment Agreement (Centrue Financial Corp)

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Violation of Restrictive Covenant. If the Executive violates the restrictions contained in Section 6(a) and the Employer brings or any of its Affiliates bring legal action for injunctive or other relief, the Employer or any of its Affiliates shall not, as a result of the time involved in obtaining such relief, be deprived of the benefit of the full period of the Restrictive Period. Accordingly, the Restrictive Period shall be deemed to have the duration specified in Section 6(a) computed from the date the relief is granted but reduced by the time between the period when the Restrictive Period began to run and the date of the first violation of the restrictions contained in Section 6(a) by the Executive. In the event that a successor assumes and agrees to perform this Agreement, the restrictions contained in Section 6(a) shall continue to apply only to the primary service area of the Employer as it existed immediately before such assumption and shall not apply to any of the successor's ’s other offices.

Appears in 1 contract

Samples: Employment Agreement (Centrue Financial Corp)

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