Examples of Key Seller in a sentence
During the Restriction Period, each Key Seller agrees not to solicit, offer employment to or employ in any capacity (and shall prohibit its Affiliates from such activities) any persons who are, at the time of such action, or were, at any time within one hundred eighty (180) days prior to such action, employees of the Company or Buyer without the prior written consent of Buyer.
If Seller becomes aware that any Key Seller Employee intends to resign, Seller promptly shall notify Purchaser.
Each Key Seller shall use its commercially reasonable efforts to secure for the Company or Buyer all licenses, sublicenses, assignments or other suitable rights in and to any intellectual property and any contracts or leases necessary for the operation of the business of the Company as currently conducted that are impaired, terminated, or otherwise adversely affected as a result of the change of control contemplated by this Agreement.
Each Key Seller acknowledges that its agreement in this Section 6.02 forms an essential part of the consideration received by Buyer hereunder.
Under no circumstances shall the Company be obligated to effect more than an aggregate of (i) three (3) Registrations pursuant to a Demand Registration under this subsection 2.1.1 initiated by Key Seller Stockholders, or (ii) one (1) Registration pursuant to a Demand Registration under this subsection 2.1.1 initiated by the Sponsor.
Purchaser shall have the right to use the Key Seller Employees beginning after the Closing Date for a period not to exceed their respective Employment Periods, and in any event not to exceed 180 days.
Notwithstanding anything herein to the contrary, Purchaser acknowledges that Key Seller Employees may, in their discretion, resign from their employment with Seller at any time.
Accordingly, each Key Seller agrees that the covenants contained in Section 6.1, Section 6.2 and Section 6.3 are reasonable with respect to duration, geographical area and scope.
Sellers acknowledge and agree that Buyer and the Company would be irreparably damaged if any Seller or any of the Persons listed on Schedule 7.4 (the “Key Seller Equity Holders”) were to provide services to or otherwise participate in the business of any Person competing with the Company to the extent prohibited by this Section 7.4 and that any such competition by any of the Key Seller Equity Holders would result in a significant loss of goodwill by Buyer and the Company.
Until three (3) years following the Closing, such Key Seller will not enter into Competition with the business of the Company as of the Closing (the “Company Business”).