Scope and Period of Restraint Sample Clauses

Scope and Period of Restraint. Commencing at the Effective Time and ending on the fifth anniversary of the Closing Date (the “Restriction Period”), the Restricted Parties will not directly or indirectly engage in, or use or permit their names to be used in connection with, any Restricted Business, and will not directly or indirectly own any interest in, Control, participate in the operation or management of, enter into any venture with, lend to or guaranty any of the obligations of, or otherwise knowingly assist, any Competitive Enterprise. “Restricted Business” means any business activity conducted in the Restricted Territory that involves developing, manufacturing, marketing or selling any products or services provided by, or under development by, any Acquired Company as of the Closing Date. For purposes of the foregoing definition, “products and services” shall not include any products or services manufactured or provided by any third-party customer of any Acquired Company for its internal use and purposes without a view to sell or market such products or services to any outside third-party. The “Restricted Territory” is anywhere in the world. A “Competitive Enterprise” is any Person involved or preparing to be involved, directly or indirectly, in a Restricted Business in the Restricted Territory. The Restriction Period will be extended for an additional period equal to the period during which the Restricted Parties are in breach of its obligations under this Article.
Sample 1
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Scope and Period of Restraint. Commencing at the Effective Time and ending on the fifth (5th) anniversary of the Closing Date (the "Restriction Period"), no Seller will directly or indirectly engage in, or use or permit its name to be used in connection with, any Restricted Business, and will not directly or indirectly own any interest in, Control, participate in the operation or management of, enter into any venture with, lend to or guaranty any of the obligations of, or otherwise knowingly assist, any Competitive Enterprise. "Restricted Business" means any business activity, other than the Company, conducted anywhere in the United States (the "Restricted Territory") that involves originating, selling, servicing or funding Mortgage Loans. A "Competitive Enterprise" is any Person, other than the Company, involved or preparing to be involved, directly or indirectly, in a Restricted Business in the Restricted Territory. The Restriction Period will be extended for a particular Seller for an additional period equal to the period during which that Seller is in breach of its obligations under this Section 6.7.
Sample 1

Related to Scope and Period of Restraint

  • Period of Restriction (i) The Restricted Stock Units subject to the Award shall be restricted during the period (the “Period of Restriction”) commencing on the Award Date and expiring on the first to occur of:

  • Vesting Schedule/Period of Restriction Except as provided in paragraphs 4 and 5, and subject to paragraph 7, the Performance Shares awarded by this Agreement shall vest in accordance with the vesting provisions set forth on the first page of this Agreement. Performance Shares shall not vest in the Employee in accordance with any of the provisions of this Agreement unless the Employee shall have been continuously employed by the Company or by one of its Subsidiaries from the Grant Date until the date the Performance Shares are otherwise scheduled to vest.

  • Extension of Restriction Period The Restriction Period shall be tolled for any period during which the Executive is in breach of any of Sections 4.2, 4.3 or 4.4 hereof.

  • Extension of Restricted Period In addition to the remedies the Company may seek and obtain pursuant to Section 8 of this Agreement, the Restricted Period shall be extended by any and all periods during which the Executive shall be found by a court to have been in violation of the covenants contained in Section 7 hereof.

  • Scope of Restrictions If the scope of any restriction contained in any preceding paragraphs of this Agreement is deemed too broad to permit enforcement of such restriction to its fullest extent, then such restriction shall be enforced to the maximum extent permitted by law, and Employee hereby consents and agrees that such scope may be judicially modified accordingly in any proceeding brought to enforce such restriction.

  • Scope of Restriction If, at the time of enforcement of this paragraph 6, a court shall hold that the duration, scope or area restrictions stated herein are unreasonable under circumstances then existing, the parties hereto agree that the maximum duration, scope or area reasonable under such circumstances shall be substituted for the stated duration, scope or area.

  • Overbreadth of Restrictive Covenant It is the intention of the parties that if any restrictive covenant in this Agreement is determined by a court of competent jurisdiction to be overly broad, then the court should enforce such restrictive covenant to the maximum extent permitted under the law as to area, breadth and duration.

  • Period of Exercisability Section 3.1 - Commencement of Exercisability ----------- ------------------------------

  • Termination of Restrictions Except as set forth in Section 9.3 hereof, the restrictions imposed by this Section 9 upon the transferability of Restricted Securities shall cease and terminate as to any particular Restricted Securities: (a) which shall have been effectively registered under the Securities Act, or (b) when, in the opinions of both counsel for the holder thereof and counsel for the Company, such restrictions are no longer required in order to insure compliance with the Securities Act or Section 10 hereof. Whenever such restrictions shall cease and terminate as to any Restricted Securities, the Holder thereof shall be entitled to receive from the Company, without expense (other than applicable transfer taxes, if any), new securities of like tenor not bearing the applicable legends required by Section 9.1 hereof.

  • Restriction Period The Restriction Period with respect to each Restricted Stock Unit is the time between the Grant Date and the date such Restricted Stock Unit vests.

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