Common use of Noncompetition Provisions Clause in Contracts

Noncompetition Provisions. (a) Each of AOL and ODC agrees that, for so long as the Stockholders and their Permitted Stockholder Affiliates collectively hold shares of Common Stock representing not less than 6% of the outstanding capital stock of the Company, calculated on a fully diluted basis, the Stockholders shall be entitled to enforce the noncompetition obligations of AOL and ODC (the "Existing Stockholders") contained in Sections 4.1 and 4.2 of the Amended and Restated Stockholders' Agreement, dated as of March 30, 2001, by and between the Company, AOL and ODC (the "Existing Stockholders' Agreement"), as the same may be amended from time to time, on the terms and conditions set forth therein as if the Stockholders were parties thereto; provided, that the provisions of the Existing Stockholders' Agreement that are effective only so long as each of AOL and ODC owns 20% of the issued and outstanding Voting Stock, as such percentage is adjusted pursuant to the Existing Stockholders' Agreement, shall be enforceable against AOL or ODC, as the case may be, so long as such party owns 20% of the issued and outstanding Voting Stock, as such percentage is adjusted pursuant to the Existing Stockholders' Agreement.

Appears in 2 contracts

Sources: Registration Rights and Stockholders' Agreement (Aol Time Warner Inc), Registration Rights and Stockholders' Agreement (Banco Itau S A)

Noncompetition Provisions. (a) Each of AOL and ODC agrees ------------- ------------------------- that, for so long as the Stockholders and their Permitted Stockholder Affiliates collectively hold shares of Common Stock representing not less than 6% of the outstanding capital stock of the Company, calculated on a fully diluted basis, the Stockholders shall be entitled to enforce the noncompetition obligations of AOL and ODC (the "Existing Stockholders") contained in Sections 4.1 and 4.2 of --------------------- the Amended and Restated Stockholders' Agreement, dated as of March 30_________, 20012000, by and between the Company, AOL and ODC (the "Existing Stockholders' Agreement"), as the same may be amended from time to time, on the terms and -------------------------------- conditions set forth therein as if the Stockholders were parties thereto; provided, that the provisions of the Existing Stockholders' Agreement that are -------- effective only so long as each of AOL and ODC owns 20% of the issued and outstanding Voting Stock, as such percentage is adjusted pursuant to the Existing Stockholders' Agreement, shall be enforceable against AOL or ODC, as the case may be, so long as such party owns 20% of the issued and outstanding Voting Stock, as such percentage is adjusted pursuant to the Existing Stockholders' Agreement.

Appears in 1 contract

Sources: Registration Rights and Stockholders' Agreement (America Online Latin America Inc)