Common use of Scope of Prohibition Clause in Contracts

Scope of Prohibition. If any Party or its Affiliates engages in the ownership or operation of Five-Year Vessels in the case of a Höegh Entity, or Non-Five-Year Vessels in the case of a Partnership Group Member, pursuant to any of the exceptions described in Section 2.2 or 3.2, as applicable, the Party and its Affiliates may not subsequently expand that portion of their business other than pursuant to the exceptions contained in such Section 2.2 or 3.2. Except as otherwise provided in this Agreement or the MLP Agreement, each Party and its Affiliates will be free to engage in any business activity whatsoever, including those that may be in direct competition with the Höegh Entities or the Partnership Group Members.

Appears in 5 contracts

Samples: Omnibus Agreement, Omnibus Agreement (Hoegh LNG Partners LP), Omnibus Agreement (Hoegh LNG Partners LP)

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Scope of Prohibition. If any Party or its Affiliates engages in the ownership or operation of Five-Year Vessels in the case of a Höegh KNOT Entity, or Non-Five-Year Vessels in the case of a Partnership Group Member, pursuant to any of the exceptions described in Section Sections 2.2 or 3.2, as applicable, the Party and its Affiliates may not subsequently expand that portion of their business other than pursuant to the exceptions contained in such Section Sections 2.2 or 3.2. Except as otherwise provided in this Agreement or the MLP Agreement, each Party and its Affiliates will shall be free to engage in any business activity whatsoever, including those that may be in direct competition with the Höegh KNOT Entities or the Partnership Group Members.

Appears in 4 contracts

Samples: Omnibus Agreement, Omnibus Agreement (KNOT Offshore Partners LP), Omnibus Agreement (KNOT Offshore Partners LP)

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