Material Competition definition

Material Competition by Employee shall mean (A) engaging in or conducting any business or investment activity in any capacity that directly competes with or has a material adverse economic effect on any of the material business activities or business plans of Employer or any Related Entity, or with respect to a business or asset that was being evaluated by Employer or any Related Entity at any time during the Term and prior to the termination of employment, or (B) rendering advice or services to, whether as an employee, consultant, advisor, agent, shareholder, independent contractor, investor, partner, member, owner, or otherwise, any company, business or other entity that derives a material part of its business from activities that directly compete with the business activities or business plans of Employer or any Related Entity; provided, however, that Employee shall be permitted to acquire a passive stock interest in such a business provided that the stock acquired is publicly traded and Employee does not beneficially own more than 2% of the outstanding interest in such business. Notwithstanding the foregoing, at any time during the eighteen-month period following the Termination Date, Employee may, at Employee’s option, serve on the Employer a written notice waiving the right to any and all future installments of the Severance Benefit payments pursuant to Section 3.3(b)(i) (a “Severance Waiver Notice”), and upon delivery of the Severance Waiver Notice, Employee shall no longer be bound by the restrictions set forth in this Section 4.1 for the period on and after the date on which the Severance Waiver Notice is delivered to the Employer; provided, however, that notwithstanding the delivery of a Severance Waiver Notice, Employee will continue to be bound by the remaining obligations set forth in this Agreement, including but not limited to those covenants of Employee set forth in Section 4.2 and Section 4.5 hereof.
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Material Competition means that Employee is involved in any business or investment activity, in any capacity, including, but not limited to, as an employee, consultant, advisor, agent, shareholder (other than as a shareholder of less than five (5%) percent of a publicly traded corporation), independent contractor, investor, partner, member, owner or otherwise, which activity directly competes with or has a material adverse economic effect on any of the activities or business of any Western Company. Material competition includes, but is not limited to, any activity involving the gathering and processing business within 25 miles of one of the Western Companies’ existing or planned gathering, processing or generation facilities; any activity involving the purchase of oil or gas leases, the farming-in of such leases or any similar arrangement, within five (5) miles of the boundaries of an existing oil or gas lease of any Western Company; and, in relation to a Confidential Project involving oil and gas exploration, development or production, any activity, directly or indirectly, involving the purchase of oil or gas leases or the farm-in or participation in operations under leases or any similar arrangement within ten (10) miles of the boundaries of the target area of such Confidential Project.
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Material Competition by the Executive shall mean the involvement by the Executive in any business or investment activity involving providing financing solutions to lower middle market companies (i.e., companies with annual revenues between $10 million to $100 million) within the United States, including, but not limited to an involvement as an employee, consultant, advisor, agent, shareholder, independent contractor, investor, partner, member, owner or otherwise; provided, however, that the Executive shall be permitted to acquire a passive stock interest in such a business provided the stock acquired is publicly traded and is not more than 2% of the outstanding interest in such business. In addition, “material competition” will specifically not include the investment in or puchase of one lower middle market business and will also specifically not include involvement in the investment activities of MSC II or other SBIC funds managed by the Company. For purposes of this Section 6(d) and Section 7, “Company” includes the Company and any Affiliate.
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Examples of Material Competition in a sentence

  • For the avoidance of doubt, the existence of the Department of Justice Consent Decree or the imposition of any other Material Competition Obligation relating to Powerlasers (or Dofasco) shall not be deemed to prevent fulfillment of this condition.

  • Procuring Agency will issue Work Completion Certificate to the contractor upon successful completion of delivery of services which the contractor is liable to provide in consideration of this contract.

  • No Material Competition Obligation shall have been imposed upon Noble or any of its Affiliates as a condition of approval or consent to the Transactions.

  • For the avoidance of doubt, working for or investing in an energy company that is primarily focused on exploration and production shall not be deemed to be Material Competition.

  • In the first half of 2021 , the Group successfully held the 6th “Maker in China” New Material Competition, the first national competition the Group held, where the Group interacted with front-line investment institutions in-depth, sought unicorns in the new material industry, and built a industry-academy-research-finance deep integration service platform.

  • All relevant waiting periods (and any extension thereof) under the HSR Act or any other Material Competition Laws shall have expired or been terminated.

  • Principal organized of Poster Competition on Head Injury at North West Hospital, Hayatabad 5th April 2014 Principal organizer Supplementary Reading Material Competition on Head Injury at North West Hospital, Hayatabad 2012 Principal organizer Stone painting Competition 2010 Principal Organizer, Stone Painting competition and Exhibition on 3rd May 2010.


More Definitions of Material Competition

Material Competition by Employee will mean the involvement by Employee in any business or investment activity in any capacity, including, but not limited to, an employee, consultant, advisor, agent, shareholder, independent contractor, investor, partner, member, owner, or otherwise, that directly competes with or has a material adverse economic effect on any of the material business activities or business plans of Employer or any Related Entity, or a business or asset that was being evaluated by Employer or any Related Entity on or within 12 months prior to the termination of employment. However, Employee will be permitted to acquire (a) a passive stock interest in such a business provided the stock acquired is publicly traded and Employee does not beneficially own more than 2% of the outstanding interest in such business and (b) participate in Other Enterprises on substantially the same basis (as determined in good faith by Employee) as he did in the year prior to the Termination Date.
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Material Competition by the Executive shall mean the involvement by the Executive in any business or investment activity involving providing financing solutions to lower middle market companies (i.e., companies with annual revenues between $10 million to $100 million) within the United States, including, but not limited to an involvement as an employee, consultant, advisor, agent, shareholder, independent contractor, investor, partner, member, owner or otherwise; provided, however, that the Executive shall be permitted to acquire a passive stock interest in such a business provided the stock acquired is publicly traded and is not more than 2% of the outstanding interest in such business. In addition, “material competition” will specifically not include the investment in or purchase of one lower middle market business and will also specifically not include involvement in the investment activities of MSC II or other SBIC funds managed by the Company. For purposes of this Section 7, “Company” includes the Company and any Affiliate. Additionally, if the Executive is terminated pursuant to Section 6(d), the Executive will also not engage in material competition with the Company after the Initial Non-Compete Period while he is receiving the monthly severance payments provided for in Section 6(d); provided however, that the Executive will be allowed to engage in material competition with the Company after the Initial Non-Compete Period upon providing written notification to the Company at which time he will begin receiving only 50% of the remaining monthly severance payments provided for in Section 6(d). The Executive understands that the provisions of Section 7 hereof may limit his ability to earn a livelihood in a business similar to the business in which he is involved, but as a member of the management group of the Company he nevertheless agrees and hereby acknowledges that (i) such provisions do not impose a greater restraint than is necessary to protect the goodwill, trade secrets or other business interests of the Company; (ii) such provisions contain reasonable limitations as to time, scope of activity, and geographical area to be restrained; and (iii) the consideration provided hereunder, including without limitation, any amounts or benefits provided under Section 6 hereof, is sufficient to compensate the Executive for the restrictions contained in Section 7 hereof. In consideration of the foregoing and in light of the Executive’s education, skills and abilities, the Executi...
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Material Competition by the Executive shall mean the direct or indirect involvement by the Executive in any business or investment activity involving specialty investment focused on providing financing solutions to lower middle market companies having annual revenues between $2 million to $100 million within the United States, including, but not limited to, involvement as an employee, consultant, advisor, agent, shareholder, independent contractor, investor, partner, member, owner or otherwise specifically including acting as an investment advisor to individuals or entities other than those affiliated with the Company that are involved in such activities; provided, however, that the Executive shall be permitted to acquire a passive stock interest in such a business provided the stock acquired is publicly traded and is not more than 2% of the outstanding interest in such business. For purposes of this Section 2, “Company” includes the Company and any Affiliate. An “Affiliate” of an entity is a person that directly or indirectly controls, is under the control of or is under common control with such entity. The Executive understands that the provisions of Section 2 hereof may limit his ability to earn a livelihood in a business similar to the business in which he is involved, but as a member of the management group of the Company he nevertheless agrees and hereby acknowledges that (i) such provisions do not impose a greater restraint than is necessary to protect the goodwill, trade secrets or other business interests of the Company; and (ii) such provisions contain reasonable limitations as to time, scope of activity, and geographical area to be restrained. In consideration of the foregoing and in light of the Executive’s education, skills and abilities, the Executive agrees that he will not assert that, and it should not be considered that, any provisions of Section 2 otherwise are void, voidable or unenforceable or should be voided or held unenforceable. If, at the time of enforcement of Section 2 of this Agreement, a court shall hold that the period, scope, or area restrictions stated herein are unreasonable under circumstances then existing, the parties hereto agree that the maximum period, scope or geographical area reasonable under such circumstances shall be substituted for the stated period, scope or area and that the court shall revise the restrictions contained herein to cover the maximum period, scope and area permitted by law. In the event of an alleged breach or viol...
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Material Competition by Employee shall mean (A) engaging in or conducting any business or investment activity in any capacity that directly competes with or has a material adverse economic effect on any of the material business activities or business plans of Employer or any Related Entity, or with respect to a business or asset that was being evaluated by Employer or any Related Entity at any time during the Term and prior to the termination of employment, or (B) rendering advice or services to, whether as an employee, consultant, advisor, agent, shareholder, independent contractor, investor, partner, member, owner, or otherwise, any company, business or other entity that derives a material part of its business from activities that directly compete with the business activities or business plans of Employer or any Related Entity; provided, however, that Employee shall be permitted to acquire a passive stock interest in such a business provided that the stock acquired is publicly traded and Employee does not beneficially own more than 2% of the outstanding interest in such business.
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Related to Material Competition

  • Material Compliance Matter has the same meaning as the term defined in Rule 38a-1, and includes any compliance matter that involves: (1) a violation of the federal securities laws by Distributor (or its officers, directors, employees, or agents); (2) a violation of Distributor's Rule 38a-1 policies and procedures; or (3) a weakness in the design or implementation of Distributor's Rule 38a-1 policies and procedures.

  • Non-Competition Period means the period the Executive is employed by the Company plus one (1) year from the Termination Date if the Executive's employment is terminated (i) by the Company for any reason, (ii) by the Executive for any reason, or (iii) by reason of either the Company's or the Executive's decision not to extend the term of this Agreement as contemplated by Section 1 hereof.

  • Competition or “Competitions” means any competition comprised within the Event where the winner is awarded a prize. A Competition may be comprised of one or more qualification phase/sections, runs or heats, including official training sessions. In the FIS Rules, Competitions are sometimes also referred to as “races”.

  • Material Company means, at any time:

  • Generic Competition has the meaning set forth in Section 7.4.3.

  • Competitions means any competition comprised within the Event where the winner is awarded a prize. A Competition may be comprised of one or more qualification phase/sections, runs or heats, including official training sessions. In the FIS Rules, Competitions are sometimes also referred to as “races”.

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

  • Noncompetition Agreements as defined in Section 2.4(a)(iv).

  • Material Contract means any contract or other arrangement (other than Loan Documents), whether written or oral, to which any Credit Party is a party as to which the breach, nonperformance, cancellation or failure to renew by any party thereto could reasonably be expected to have a Material Adverse Effect.

  • Noncompetition Agreement shall have the meaning set forth in Section 5.9 of this Agreement.

  • Non-Competition Agreement has the meaning set forth in Section 2.1 of this Agreement.

  • Non-Competition Agreements has the meaning set out in Section 7.1.1.7;

  • Confidential Information Breach This shall mean, generally, an instance where an unauthorized person or entity accesses Confidential Information in any manner, including but not limited to the following occurrences: (1) any Confidential Information that is not encrypted or protected is misplaced, lost, stolen or in any way compromised; (2)one or more third parties have had access to or taken control or possession of any Confidential Information that is not encrypted or protected without prior written authorization from the State; (3) the unauthorized acquisition of encrypted or protected Confidential Information together with the confidential process or key that is capable of compromising the integrity of the Confidential Information; or (4) if there is a substantial risk of identity theft or fraud to the Client Agency, the Contractor, DAS or State.

  • Material Consents as defined in Section 7.3.

  • Competition Match means any match played or to be played under the jurisdiction of the Competition.

  • Intellectual disability means "intellectual disability" as defined in OAR 411-320-0020 and described in OAR 411-320-0080.

  • Material Agreement means any material contract, commitment, agreement (written or oral), instrument, lease or other document, license agreement and agreements relating to intellectual property, to which the Corporation or any Subsidiary are a party or to which any of their property or assets are otherwise bound;

  • Superior Company Proposal has the meaning set forth in Section 6.02(e).

  • Material Contact means personal contact or the supervision of the efforts of those who have direct personal contact with a Customers, Customer Prospects, or Vendors in an effort to initiate or further a business relationship between the Company and such Customers, Customer Prospects, or Vendors.

  • Company Employee Agreement means each management, employment, severance, retention, transaction bonus, change in control, consulting, relocation, repatriation or expatriation agreement or other Contract between: (a) any of the Company Entities or any Company Affiliate; and (b) any Company Associate, other than any such Contract that is terminable “at will” (or following a notice period imposed by applicable Legal Requirements) without any obligation on the part of any Company Entity or any Company Affiliate to make any severance, termination, change in control or similar payment or to provide any benefit.

  • Material Intellectual Property means any intellectual property owned by any Loan Party that is, in the good faith determination of the Borrower, material to the operation of the business of the Borrower and its Restricted Subsidiaries, taken as a whole.

  • Company IP Contract means any Contract to which the Company is a party or by which the Company is bound, that contains any assignment or license of, or covenant not to assert or enforce, any Intellectual Property Right or that otherwise relates to any Company IP or any Intellectual Property developed by, with, or for the Company.

  • Company Material Contract has the meaning set forth in Section 3.15(a).

  • Terminating Company Breach has the meaning specified in Section 10.01(b).

  • Competition Laws means any federal, state, foreign, multinational or supranational antitrust, competition or trade regulation statutes, rules, regulations, orders, decrees, administrative and judicial doctrines and other laws that are designed or intended to prohibit, restrict or regulate actions or transactions having the purpose or effect of monopolization or restraint of trade or lessening of competition through merger or acquisition or effectuating foreign investment.

  • Material Permits shall have the meaning ascribed to such term in Section 3.1(n).