Compete Period definition

Compete Period shall begin on the Closing Date (as defined in the Purchase Agreement) and end either: (i) if the Date of Termination is before the EBITDA Threshold (as defined in the Purchase Agreement) is achieved, the longer of one (1) year after the Date of Termination or three (3) years after the Closing Date; or (ii) if the Date of Termination is after the EBITDA Threshold is achieved, one (1) year after the Date of Termination. The parties agree that they shall not during such period make public statements in derogation of each other, except as may be required by law. For the purposes of this Section, the term "Subject Company" shall mean Intek and any direct or indirect subsidiaries, parents and affiliates of Intek including Acorn. Competing directly or materially with the Subject Company shall mean (a) either (i) engaging or (ii) having a material interest (any ownership or profit interest over 5% always being material), directly or indirectly, as owner, employee, officer, director, partner, venturer, shareholder, capital investor, consultant, agent, principal, advisor or otherwise, either alone or in association with others, in the operation of any individual or entity engaged in (b) the Business within Canada or the continental United States, including the California counties which would appear here if each county in California was listed here. Competing directly or materially with the Subject Company, as used in this Agreement, shall be deemed not to include an ownership interest as an inactive investor, which for purposes of this Section shall mean the beneficial ownership of less than five percent (5%) of the outstanding shares of any series or class of securities of any competitor of the Subject Company, which shares are publicly traded in the securities markets. The Key Shareholders agree that the Business is inherently nationwide in scope.
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Compete Period means the period beginning on the Effective Date and ending (i) if Executive is terminated by the Company pursuant to Sections 5(c) or 5(e) or by Executive pursuant to Section 5(d), on the later of (A) four (4) years following the Effective Date, and (B) two (2) years following the Executive's termination of employment, and (ii) if Executive is terminated pursuant to Section 5(b), two (2) years following the Executive's termination of employment.
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Compete Period. For purposes of this Paragraph 5, the term "Noncompete Period" means the period commencing on the Effective Date of this Agreement and, ending on the earlier of (i) the third anniversary of the Effective Date or (ii) the date the Warrant is no longer outstanding and exercisable, as a result of its exercise or cancellation, or (iii) the date a "Change in Control" of the Company occurs as such term is defined in Paragraph 6(c) of the Option Agreement dated November 12, 1996.
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Examples of Compete Period in a sentence

  • The Executive agrees that, before providing services, whether as an employee or consultant, to any entity during the Non Compete Period, he will provide a copy of this Agreement to such entity and acknowledge, to the Company in writing, that he has done so.

  • EURAND can terminate the Non- Compete Period on forty five (45) days written notice (i) if RELIANT has not applied for the Applicable Permits in the United States as provided by Section 4.1 or (ii) launched the Finished Dosage in the United States as provided by Section 4.2 or (iii) RELIANT fails to maintain the Minimum Annual Royalty set forth in Section 12.13.

  • Compete Period, Executive shall not directly or indirectly solicit to enter into the employ of any other Entity, or hire, any of the employees of the Employer (or individuals who were employees of the Employer within six months of termination of the Non-Compete Period).

  • The Executive agrees that, before providing services, whether as an employee or consultant, to any entity during the Non Compete Period, he will provide a copy of this Agreement to such entity and acknowledge, to the company in writing, that he has done so.

  • Further, each Principal agrees that during such Non- Compete Period, he shall not solicit nor employ any person who is employed by the Licensee or the Company during the Non-Compete Period.

  • For the purposes of this Agreement, the term "Restricted Business" shall mean any business or enterprise in which the Company or any of its affiliates engage at any time during the Non- Compete Period.

  • If none of the above apply, but one of the following was true at any time during the twelve (12) months immediately preceding the termination of your employment: Then the Non- Compete Period will continue for: You were a Managing Director, Senior Managing Director or Senior Vice President working in one of the Specified Job Families Six (6) months You were a Vice President working in one of the Specified Job Families Three (3) months 5.

  • Executive's agreement not to compete with the Company Group during the Non- Compete Period shall also prohibit Employee from owning a greater than 5% equity interest in, serving as a director, officer, employee or partner of, or being a consultant to or co-venturer with any business enterprise or activity that competes in North America with any line of business conducted by the Company Group at the Separation Date.

  • During the Executive's employment with the Company and during the Non- Compete Period, Executive shall not engage in Competitive Employment, whether paid or unpaid and whether as a consultant, employee, or otherwise.

  • Each Principal further agrees that during such Non- Compete Period he shall not solicit the Licensee’s or the Company’s customers on behalf of him or any other business or entity in competition with the business then conducted by the Licensee or the Company.


More Definitions of Compete Period

Compete Period means:
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Compete Period shall be automatically extended by a number of days equal to the total number of days in the period from the date on which such breach shall have first occurred through the date as of which such breach shall have been fully cured. Because the Company does business throughout the continental United States and Canada, and Employee, as the President and CEO has responsibility for the Company, the geographic area for the restrictive covenant is the continental United States and Canada. If for any reason any court of competent jurisdiction finds these covenants to be unreasonable in duration or geographic scope, the prohibitions herein contained shall be restricted to such time and geographic areas as such court determines to be reasonable and enforceable. However, the restrictions stated above will not apply if Company liquidates or if Employee becomes employed by a company (or its affiliate) which acquires (in a voluntary transaction) the stock or business assets of Company.
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Compete Period as defined in Section 5 (a) of the Employment Agreement and as applicable in Section 5(c) of the Employment Agreement shall extend through May 10, 2007.
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Related to Compete Period

  • Non-Compete Period shall have the meaning set forth in Section 5.6(a).

  • Noncompete Period or "Nonsolicitation Period" means the period beginning the date hereof and ending on the second anniversary of the termination of Employee's employment with Employer.

  • Noncompetition Period has the meaning set forth in Section 9.01.

  • Non-Compete Term means in the case of termination for any reason, the period from the Effective Date to the date ending 2 years following the date of termination.

  • Non-Competition Period means the time of the Employee’s employment and a period of 12 months following the termination of the Employee’s employment for any reason.