Restrictive Covenants and Representations Clause Samples
The 'Restrictive Covenants and Representations' clause serves to set out specific obligations and assurances that parties must adhere to during and sometimes after the term of an agreement. In practice, this clause may include non-compete, non-solicitation, or confidentiality requirements, as well as statements confirming the truthfulness of certain facts or the authority of the parties to enter into the contract. Its core function is to protect the interests of the parties by limiting certain actions and ensuring that all parties are making accurate and reliable commitments, thereby reducing the risk of disputes or breaches.
Restrictive Covenants and Representations. Notwithstanding the restrictions in Section 6 (b), Executive is permitted to form, own and operate an insurance brokerage entity to exclusively underwrite, bind and service policies of insurance issued by the Company’s insurance subsidiaries as detailed in that Niche Management Agreement dated on or about the date hereof and effective as of February 4, 2020 between Altruis Group, LLC, a company to be formed by the Executive, and the Company’s insurance subsidiary, New York Marine and General Insurance Company or an affiliate thereof (the “NMA”).
Restrictive Covenants and Representations