Common use of Independent Covenant Clause in Contracts

Independent Covenant. Subject to the introductory clause of Section 13.1, all of the covenants in this Section 13 shall be construed as an agreement independent of any other provision in this Agreement, and the existence of any claim or cause of action of any STOCKHOLDER against VPI (including the subsidiaries thereof), whether predicated on this Agreement or otherwise, shall not constitute a defense to the enforcement by VPI of such covenants. It is specifically agreed that the Noncompetition Period, during which the agreements and covenants of each STOCKHOLDER made in this Section 13 shall be effective, shall be computed by excluding from such computation any time during which a court of competent jurisdiction or other arbitrator or mediator has determined that such STOCKHOLDER is in violation of any provision of this Section 13. The covenants contained in Section 13 shall have no effect if the transactions contemplated by this Agreement are not consummated.

Appears in 9 contracts

Samples: Agreement and Plan of Organization (Vacation Properties International Inc), Agreement and Plan of Organization (Vacation Properties International Inc), Agreement and Plan of Organization (Vacation Properties International Inc)

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Independent Covenant. Subject to the introductory clause of Section 13.1, all All of the covenants in this Section 13 shall be construed as an agreement independent of any other provision in this Agreement, and the existence of any claim or cause of action of any STOCKHOLDER against VPI PARENT (including the subsidiaries -50- thereof), whether predicated on this Agreement or otherwise, shall not constitute a defense to the enforcement by VPI PARENT (or any subsidiary) of such covenants. It is specifically agreed that the Noncompetition Periodperiod of five (5) years stated at the beginning of this Section 13, during which the agreements and covenants of each STOCKHOLDER the STOCKHOLDERS made in this Section 13 shall be effective, shall be computed by excluding from such computation any time during which a court of competent jurisdiction or other arbitrator or mediator has determined that any such STOCKHOLDER is in violation of any provision of this Section 13. The covenants contained in Section 13 shall not be affected by any breach of any other provision hereof by any party hereto and shall have no effect if the transactions contemplated by this Agreement are not consummated.

Appears in 3 contracts

Samples: Agreement and Plan (Nationwide Staffing Inc), Agreement and Plan (Nationwide Staffing Inc), Agreement and Plan (Nationwide Staffing Inc)

Independent Covenant. Subject to the introductory clause of Section 13.1, all All of the covenants in this Section 13 shall be construed as an agreement independent of any other provision in this Agreement, and the existence of any claim or cause of action of any STOCKHOLDER against VPI PARENT (including the subsidiaries thereof), whether predicated on this Agreement or otherwise, shall not constitute a defense to the enforcement by VPI PARENT (or any subsidiary) of such covenants. It is specifically agreed that the Noncompetition Periodperiod of five (5) years stated at the beginning of this Section 13, during which the agreements and covenants of each STOCKHOLDER the STOCKHOLDERS made in this Section 13 shall be effective, shall be computed by excluding from such computation any time during which a court of competent jurisdiction or other arbitrator or mediator has determined that any such STOCKHOLDER is in violation of any provision of this Section 13. The covenants contained in Section 13 shall not be affected by any breach of any other provision hereof by any party hereto and shall have no effect if the transactions contemplated by this Agreement are not consummated.

Appears in 3 contracts

Samples: Agreement and Plan (Nationwide Staffing Inc), Agreement and Plan (Nationwide Staffing Inc), Agreement and Plan (Nationwide Staffing Inc)

Independent Covenant. Subject to the introductory clause of Section 13.1, all of the covenants in this Section 13 shall be construed as an agreement independent of any other provision in this Agreement, and the existence of any claim or cause of action of any STOCKHOLDER against VPI (including the subsidiaries thereof), whether predicated on this Agreement or otherwise, shall not constitute a defense to the enforcement by VPI of such covenants. It is specifically agreed that the Noncompetition Period, during which the agreements and covenants of each STOCKHOLDER made in this Section 13 shall be effective, shall be computed by excluding from such computation any time during which a court of competent jurisdiction or other arbitrator or mediator has determined that such STOCKHOLDER is in violation of any provision of this Section 13. The covenants contained in Section 13 shall have no effect if the transactions contemplated by this Agreement are not consummated.

Appears in 2 contracts

Samples: Agreement and Plan of Organization (Vacation Properties International Inc), Agreement and Plan of Organization (Vacation Properties International Inc)

Independent Covenant. Subject to the introductory clause of Section 13.1, all All of the covenants in this Section 13 shall be construed as an agreement independent of any other provision in this Agreement, and the existence of any 93 claim or cause of action of any STOCKHOLDER against VPI VESTCOM (including the subsidiaries thereof), whether predicated on this Agreement or otherwise, shall not constitute a defense to the enforcement by VPI VESTCOM of such covenants. It is specifically agreed that the Noncompetition Periodperiod of five (5) years stated at the beginning of this Section 13, during which the agreements and covenants of each STOCKHOLDER made in this Section 13 shall be effective, shall be computed by excluding from such computation any time during which a court of competent jurisdiction or other arbitrator or mediator has determined that such STOCKHOLDER is in violation of any provision of this Section 13. The covenants contained in this Section 13 shall not be affected by any breach of any other provision hereof by any party hereto (other than failure by VESTCOM to pay the consideration indicated on Annex II, Part A) and shall have no effect if the transactions contemplated by this Agreement are not consummated.

Appears in 1 contract

Samples: Agreement and Plan of Reorganization (Vestcom International Inc)

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Independent Covenant. Subject to the introductory clause of Section 13.1, all of the covenants in this Section 13 shall be construed as an agreement independent of any other provision in this Agreement, and the existence of any claim or cause of action of any STOCKHOLDER against VPI (including the subsidiaries thereof), whether predicated on this Agreement or otherwise, shall not constitute a defense to the enforcement by VPI of such covenants. It is specifically agreed that the Noncompetition Period, during which the agreements and covenants of each STOCKHOLDER made in this Section 13 shall be effective, shall be computed by excluding from such computation any time during which a court of competent jurisdiction or other arbitrator or mediator has determined that such STOCKHOLDER is in violation of any provision of this Section 13. The covenants contained in Section 13 shall have no effect if the transactions contemplated by this Agreement are not consummated.in

Appears in 1 contract

Samples: Agreement and Plan of Organization (Vacation Properties International Inc)

Independent Covenant. Subject to the introductory clause of Section 13.1, all All of the covenants in this Section 13 shall be construed as an agreement independent of any other provision in this Agreement, and the existence of any claim or cause of action of any STOCKHOLDER against VPI VESTCOM (including the subsidiaries thereof), whether predicated on this Agreement or otherwise, shall not constitute a defense to the enforcement by VPI VESTCOM of such covenants. It is specifically agreed that the Noncompetition Periodperiod of five (5) years stated at the beginning of this Section 13, during which the agreements and covenants of each STOCKHOLDER made in this Section 13 shall be effective, shall be computed by excluding from such computation any time during which a court of competent jurisdiction or other arbitrator or mediator has determined that such STOCKHOLDER is in violation of any provision of this Section 13. The covenants contained in this Section 13 shall not be affected by any breach of any other provision hereof by any party hereto (other than failure by VESTCOM to pay the consideration indicated on Annex II, Part A) and shall have no effect if the transactions contemplated by this Agreement are not consummated.

Appears in 1 contract

Samples: Share Purchase Agreement (Vestcom International Inc)

Independent Covenant. Subject to the introductory clause of Section 13.1, all All of the covenants in this Section 13 shall be construed as an agreement independent of any other provision in this Agreement, and the existence of any claim or cause of action of any the STOCKHOLDER against VPI PARENT (including the subsidiaries thereof), whether predicated on this Agreement or otherwise, shall not constitute a defense to the enforcement by VPI PARENT (or any subsidiary) of such covenants. It is specifically agreed that the Noncompetition Periodperiod of five (5) years stated at the beginning of this Section 13, during which the agreements and covenants of each the STOCKHOLDER made in this Section 13 shall be effective, shall be computed by excluding from such computation any time during which a court of competent jurisdiction or other arbitrator or mediator has determined that such the STOCKHOLDER is in violation of any provision of this Section 13. The covenants contained in Section 13 shall not be affected by any breach of any other provision hereof by any party hereto and shall have no effect if the transactions contemplated by this Agreement are not consummated.

Appears in 1 contract

Samples: Agreement and Plan (Nationwide Staffing Inc)

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