Common use of No Relocation Clause in Contracts

No Relocation. Until this Agreement terminates in accordance with Articles V hereof, Borrower agrees not to relocate outside of the City of Winston-Salem (i) its principal place of business; (ii) any material portion of its primary operations, including, but not limited to, its research and technology, manufacturing, or administrative divisions, or (iii) any material number of its employees with respect to any division of Borrower.

Appears in 2 contracts

Sources: Loan Agreement (Targacept Inc), Loan Agreement (Targacept Inc)