Radius Agreement Clause Samples
A Radius Agreement is a contractual provision that restricts a party, typically a tenant or franchisee, from operating a similar business within a specified geographic radius of a particular location. This clause often applies to retail, restaurant, or franchise agreements, where the party agrees not to open or support another competing business within a certain distance—such as five miles—from the original site. The core function of a Radius Agreement is to protect the business interests of the other party, usually the landlord or franchisor, by preventing market saturation and ensuring that the original location maintains its customer base and profitability.
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Radius Agreement. The Purchaser agrees that if it, at any time stakes or acquires an interest, whether directly or indirectly, in or to any other mineral claim or claims (the "Purchaser New Claims") within a three (3) mile radius of any lands covered by the Claims (except the Viking and Canyon claims located in Saskatchewan and any of the Claims located in Nevada), and within a five (5) mile radius of any lands covered by the Viking and Canyon Claims located in Saskatchewan and any of the Claims located in Nevada, the "Carried Working Interest" as defined herein shall be and be deemed to extend to the Purchaser New Claims and the Purchaser shall hold the said Carried Working Interest in the Purchaser New Claims in trust for the Vendor. The Purchaser agrees to immediately notify the Vendor of the acquisition of any Purchaser New Claim and to execute and deliver upon request and without further compensation all such trust agreements, transfers and other documents and to take all such other steps as may be reasonably requested by the Vendor in connection with the foregoing; and