Prohibition of Competition. The MANAGER is strictly prohibited to participate or be involved, directly or indirectly, in activities that are competitive with those of TAMINCO, albeit as a manager, partner, director, shareholder, consultant or representative of a partnership, or any other company which directly or indirectly competes with the activity of TAMINCO or a company that pertains to the group to which TAMINCO belongs to. This obligation shall apply, subject to a written agreement of TAMINCO, both during the implementation of his mandate within the board of managers as well as over a period of 24 months after the termination of said mandate, valid in Belgium, the Netherlands, France, Germany, Italy, Spain, China, the United States and Brazil. This article is reasonable and necessary in order to protect TAMINCO’S legitimate interests. The MANAGER is therefore aware that any breach of this provision will result in a significant injury to TAMINCO for which judicial recovery and specific implementation can be asked for. The damages in case of breach of the Agreement in this clause is estimated at a lump sum of EUR 250,000.00 plus EUR 10,000 per day in which the MANAGER is in default, for which, without prior notice, a judicial recovery and specific implementation can be asked for without the need to prove actual damage and all this without prejudice to TAMINCO’S right to demand a higher amount in damages when the company can substantiate real losses.
Prohibition of Competition. 11.1 During the term of this Agreement, Distributor shall not, and shall cause its Representatives not to, directly or indirectly: deal as a distributor, dealer, commission merchant or commercial agent for any third party that manufactures, distributes or sells any Competing Product, or authorize anyone else to do so; manufacture, distribute or sell a competing Product; engage in any activity or take any action that will cause or result in the manufacture, distribution, or sale of a Competing Product; provide or caused to be provided any Vifor Intellectual Property to any person, third party or entity that Distributor knows or should reasonably know will directly or indirectly exploit such Vifor Intellectual Property or cause Vifor Intellectual Property to be exploited in respect of a Competing Product in the Field worldwide, or collaborate with any Person in a manner that will cause or result in any of the foregoing.
Prohibition of Competition. During the term of this service contract, Xx. Xxxxxx is not permitted to work in any way – be it as an employee or on a self-employed or any other basis – for an undertaking that competes directly or indirectly with the Company or with a business affiliated as a member of the group to the Company or maintains to a material extent business relationships to the Company or a company affiliated to it. In the same way, Xx. Xxxxxx is prohibited for the term of this service contract to set up, acquire or hold directly or indirectly an interest in such a company. Xx. Xxxxxx shall inform the chairman of the supervisory board if a member of his family (next of kin in the sense of sect. 15 German Fiscal Code, (AO)) holds an interest in such an enterprise. A shareholding in such a company within in scope of private asset investment which does not have any influence on the bodies of the company concerned shall not be considered an interest in the sense of this provision.
Prohibition of Competition. During the term of this service agreement, the Managing Director is prohibited from working in an independent or dependent capacity or in any other way for a company or other entity that is in direct or indirect competition with the Company in any part of the world. Similarly, he shall be prohibited from establishing or acquiring such a company or acquiring a direct or indirect interest therein during the term of this service agreement, except for acquiring shares in listed companies for financial investment purposes of up to 5% of the equity or the voting rights. The Managing Director shall notify the Company of such investments without delay.
Prohibition of Competition. For the duration of this contract the managing director will not indirectly or directly participate in companies which are competitors of the company, or with which the company maintains a business relationship. An infringement of this prohibition of competition constitutes an important reason for termination of the contract without notice. In case of a termination without notice for this reason, any claims of the managing director against the company under this contract are null at the point in time of the termination notice. Other provisions only apply in case the shareholders have released the managing director form the prohibition of competition.
Prohibition of Competition. 7.1 The parties agree that JOHANSSON, through its position in the Company, will disclose corporate secrets that cannot be protected by patents or similar registration procedures, and whose use in competing activities would result in significant but for the Company. The parties also agree that it is a prerequisite for the Company, in confidence, to submit such information to JOHANSSON that the Company can ensure that JOHANSSON does not use the knowledge and contacts obtained through the employment to build or operate in operations that compete with the Company or its affiliates. It is therefore incumbent upon JOHANSSON to, during the term of the Employment Agreement and for nine (9) months from termination of employment, either himself or as owner, partner, board member, adviser or employee of another company, either directly or indirectly with the Company, or with its affiliates, competing operations.
Prohibition of Competition. 7.1 The parties agree that XXXXX BRINGSTRUP, through its position in the Company, will disclose corporate secrets that cannot be protected by patents or similar registration procedures, and whose use in competing activities would result in significant but for the Company. The parties also agree that it is a prerequisite for the Company, in confidence, to submit such information to XXXXX BRINGSTRUP that the Company can ensure that XXXXX BRINGSTRUP does not use the knowledge and contacts obtained through the employment to build or operate in operations that compete with the Company or its affiliates. It is therefore incumbent upon XXXXX BRINGSTRUP to, during the term of the Employment Agreement and for nine (9) months from termination of employment, either himself or as owner, partner, board member, adviser or employee of another company, either directly or indirectly with the Company, or with its affiliates, competing operations.
Prohibition of Competition. 8.1 Without the permission of the Supervisory Board responsible for the relevant line of business of the Company, the Member of the Board of Directors may neither operate a trade nor do business for his or someone else's account. Nor may he participate in another commercial company as a personally liable shareholder.
Prohibition of Competition. You shall undertake to the Company that during the course of employment with the Company, you shall not in any way engage in any business which is in competition with the business of the Company.
Prohibition of Competition. Sellers and each of them must for a period of 3 years starting from the Effective Date refrain from any action by which Seller would, directly or indirectly, enter into competition with the Company. In particular, Sellers will not establish, acquire, or participate in any enterprise that directly or indirectly competes with the Company or its business operations in the area of …. Exempt from this prohibition of competition is acquisition of up to 5 % of the shares of a listed company conditional upon the absence of influence by Sellers or either of them on the executive organs of any such listed company. Under the above rules, Sellers also guarantee non•competition of enterprises controlled by Sellers or either of them.
