Significant Value Clause Samples
The 'Significant Value' clause defines a threshold or criteria for what constitutes a material or important value within the context of the agreement. Typically, this clause sets a specific monetary amount or qualitative standard, above which certain obligations, disclosures, or actions are triggered. For example, it may require parties to notify each other of transactions or losses exceeding a set dollar amount. The core function of this clause is to ensure that only matters of substantial importance are subject to heightened scrutiny or special procedures, thereby streamlining processes and focusing attention on issues that could materially impact the parties.
Significant Value. The Independent Contractor acknowledges that he or she will derive significant value from the Company’s promise in Section 1(a) to provide him or her with that Confidential Information of the Company to enable him or her to optimize the performance of his or her contractual duties to the Company. The Independent Contractor further acknowledges that his or her fulfillment of the obligations contained in this Addendum, including, but not limited to, his or her obligation neither to disclose nor to use the Company’s Confidential Information other than for the Company’s exclusive benefit and his or her obligation not to compete contained in Section 2(a), (b), and (c), is necessary to protect the Company’s Confidential Information and, consequently, to preserve the value and goodwill of the Company. The Independent Contractor further acknowledges the time, geographic, and scope limitations of his or her obligations under Section 2(a), (b), and (c) are reasonable, especially in light of the Company’s desire to protect its Confidential Information, and that he or she will not be precluded from gainful employment if he or she is obligated not to compete with the Company during the period and within the Territory as described in Section 2(c).
Significant Value. The RP acknowledges that the RP will derive significant value from ETaxBreaks’ promise in Section four (4) to provide the RP with that Confidential Information of ETaxBreaks to enable the RP to optimize the performance of the RP’s contractual duties to ETaxBreaks. The RP further acknowledges that the RP’s fulfillment of the obligations contained in this Agreement, including, but not limited to, the RP’s obligation neither to disclose nor to use ETaxBreaks’ Confidential Information other than for ETaxBreaks’ exclusive benefit and his or her obligation not to compete contained in Section 6(a), (b), and (c), is necessary to protect ETaxBreaks’ Confidential Information and, consequently, to preserve the value and goodwill of ETaxBreaks. The RP further acknowledges the time, geographic, and scope limitations of his or her obligations under Section 6(a), (b), and (c) are reasonable, especially in light of ETaxBreaks’ desire to protect its Confidential Information, and that the RP, nor the RP employees, will not be precluded from gainful employment if the RP is obligated not to compete with ETaxBreaks during the period and within the geographic scope as described in Section 6 (a) & (c).
Significant Value. The Independent Contractor acknowledges that he or she will derive significant value from the Company’s promise in Section 1(a) to provide him or her with that