Competition Covenant Sample Clauses
A Competition Covenant is a contractual provision that restricts one party, typically an employee or business seller, from engaging in activities that compete with the other party’s business. This clause often specifies a geographic area, time period, and the types of competitive activities that are prohibited, such as working for a rival company or starting a similar business. Its core practical function is to protect the legitimate business interests of the party seeking the restriction, such as safeguarding confidential information, customer relationships, and market position, by preventing unfair competition.
Competition Covenant. C▇▇▇▇▇▇▇ hereby agrees that during and throughout the Term of this Agreement and continuing for a period of twenty-four (24) months immediately following the termination of Catiller’s employment with Employer, C▇▇▇▇▇▇▇ shall not:
(a) directly or indirectly, in an individual or representative capacity, own an interest in, operate, join, control, finance (whether as a lender or investor), share in the earnings of, participate in, engage in or be connected as an officer, employee, agent, independent contractor, partner, shareholder, member, consultant, employer, investor, or principal of any corporation, partnership, proprietorship, firm, association, limited liability company, person, or any other entity engaged in any aspect of the Business inside the Territory, or which is otherwise in competition with Employer, except as otherwise provided for in Section 3.3.2.(b) herein; or
(b) Permit his name to be used, directly or indirectly, by any corporation, partnership, proprietorship, firm, association, limited liability company, person, or any other entity engaged in the Business within the Territory.
Competition Covenant. ▇▇▇▇▇ hereby agrees that during and throughout the forty-eight (48) months immediately following the Separation Date he shall not:
(a) Directly or indirectly, in an individual or representative capacity, own an interest in, operate, join, control, finance (whether as a lender or investor), share in the earnings of, participate in, engage in or be connected as an officer, employee, agent, independent contractor, partner, shareholder, member, consultant, employer, investor, or principal of any corporation, partnership, proprietorship, firm, association, person, or any other entity engaged in any aspect of the business of PURE, or which is otherwise in competition with PURE, notwithstanding the location of said other business; and
(b) Permit his name to be used, directly or indirectly, by any person, corporation, partnership or other business entity engaged in the business of PURE.
Competition Covenant. Upon termination of this Agreement for any reason, PRESIDENT covenants he will not directly or indirectly engage in competition with BANK, whether through employment by a bank or other financial services business or in any other manner. The restriction of this paragraph shall be limited to the geographic area which is within seventy-five (75) miles of BANK's principal place of business in Middleburg, Virginia; and shall expire one (1) year after termination of this Agreement or one (1) year after PRESIDENT ceases to receive compensation and other benefits hereunder, whichever time is longer.
Competition Covenant. Singer hereby agrees that during and throughout the forty-eight (48) months immediately following the Separation Date she shall not:
(a) Directly or indirectly, in an individual or representative capacity, own an interest in, operate, join, control, finance (whether as a lender or investor), share in the earnings of, participate in, engage in or be connected as an officer, employee, agent, independent contractor, partner, shareholder, member, consultant, employer, investor, or principal of any corporation, partnership, proprietorship, firm, association, person, or any other entity engaged in any aspect of the business of PURE, or which is otherwise in competition with PURE, notwithstanding the location of said other business; and
(b) Permit her name to be used, directly or indirectly, by any person, corporation, partnership or other business entity engaged in the business of PURE.
Competition Covenant. If Kend▇▇ ▇▇▇ieves that the Sellers are in breach of their obligations set forth in Section 10(a), then Kend▇▇ ▇▇▇ll deliver notice of such breach to Sellers, and Sellers shall have thirty (30) days to cure such breach or such longer time as may be reasonably necessary to cure such breach provided Sellers are diligently pursuing such cure and does not exceed sixty (60) days. The Parties agree that if the Sellers breach their Non-Competition Covenant and do not cure such breach pursuant to the provisions of the foregoing sentence, continuing and irreparable harm will be caused to Kend▇▇ ▇▇▇reby and that Kend▇▇ ▇▇▇ll be entitled to obtain injunctive or other equitable relief to restrain any breach or threatened breach or otherwise to specifically enforce the provisions of Section 10(a) of this Agreement. The Parties further agree that if an arbitrator shall have made a final, binding and non-appealable ruling that such a breach has occurred (or if a court of competent jurisdiction shall have so found, and the time for appeal shall have expired and no appeal shall be pending), Kend▇▇ ▇▇▇ll, be entitled to liquidated damages as set forth below in Section 10(c) below, provided, however, that this provision shall apply with respect to a breach by an Inside Shareholder only if the liquidated damages provision in Section 4 of such Seller's Non-Competition and Non-Disclosure Agreement is not also applied. The Parties hereby instruct any arbitrator or court that may find any provision of this
Competition Covenant. 5.1 Each of API, AIFI, AMI and ADI understands that the restrictions contained in this Section 5 are reasonable and necessary to protect the legitimate interests of the Franchisor and that the Franchisor would not have entered into this Agreement absent the provisions of this Section 5 and, therefore:
(a) for the term of this Agreement, neither API, AIFI, AMI nor ADI shall, and shall cause each of its Related Parties (as defined below) not to, directly or indirectly:
(i) establish, develop or sell franchises of any new proprietary hotel, motel or resort brand, CONFIDENTIAL TREATMENT REQUESTED FOR PORTIONS OF THIS DOCUMENT
(ii) develop, for any Unaffiliated Third Party, in excess of five (5) hotel, motel or resort facilities annually which operate under any proprietary brand other than the Brands (determined based on the dates of relevant construction starts); provided however that API only shall be permitted to develop up to (A) three such facilities in the twelve month period following the Closing (as defined in the Asset Purchase Agreement) and (B) four such facilities in the thirteen to twenty four month period following the Closing,
(iii) develop, own or operate, on behalf of API or any of its subsidiaries or affiliates, any newly constructed hotel, motel or resort facilities which operate under any proprietary brand other than the Brands or any of then-current proprietary brands of Cendant or its subsidiaries; provided, however, that in the event that Cendant sells, transfer or conveys to a non-affiliate third party in excess of fifty percent (50%) of its interests in ▇▇▇▇▇▇▇ Inns International, Inc., then up to fifty (50%) of all new facilities developed by API and its subsidiaries and affiliates following the date of such sale, transfer or conveyance may be developed for operation under any proprietary brand,
(iv) acquire, own, operate or perform (as applicable), on behalf of API or any of its subsidiaries or affiliates, (A) any existing hotel, motel or resort facilities which operate under any proprietary brand other than the Brands or any of then-current proprietary brands of Cendant or its subsidiaries, (B) any entity which engages in the management of hotel, motel or resort facilities or (C) contracts relating to the management of hotel, motel or resort facilities; provided however that the foregoing prohibitions shall not apply so long as the aggregate funds expended from the date hereof through any subsequent date during the term hereof (each,...
Competition Covenant. At no time during the five (5) year period following the Execution Date shall any Restricted Party:
(a) Directly or indirectly, in an individual or representative capacity, own an interest in, operate, join, control, finance (whether as a lender or investor), share in the earnings of, participate in, engage in or be connected as an officer, employee, agent, independent contractor, partner, shareholder, member, consultant, employer, investor, or principal of any corporation, partnership, proprietorship, firm, association, person, or any other entity engaged in any aspect of the Hotel Business inside the United States, or which is otherwise in competition with the Hotel Business.
(b) Permit the name of any Restricted Party to be used, directly or indirectly, by any person, corporation, partnership or other business entity engaged in the Hotel Business within the United States.