Common use of NON-COMPETITION AND NONSOLICITATION Clause in Contracts

NON-COMPETITION AND NONSOLICITATION. During the Term and any Non-Compete Period (hereinafter defined), the Executive will not, directly or indirectly, either as a principal, agent, employee, employer, stockholder or partner: (i) engage in any "Competitive Business"; or (ii) employ or solicit the employment of, or assist others in employing or soliciting the employment of, any individual employed by the Company at any time while the Executive was also so employed; PROVIDED, HOWEVER, the foregoing shall not prohibit or limit the Executive's right to pursue and maintain passive investments allowed pursuant to Section 1(c) hereof. For purposes of this Section 11, "Competitive Business" means acquiring, investing in or with respect to, owning, leasing, managing or developing hotel properties in the United States or originating or acquiring loans in respect of hotel properties in the United States where the Executive has duties or performs services that are the same or similar to those services actually performed by the Executive for the Company.