Common use of Survival of Non-Competition Provisions Clause in Contracts

Survival of Non-Competition Provisions. The provisions of Section 7.1 shall remain in effect with respect to each Member and its Affiliates or former Member and its Affiliates of the Company until the passage of twelve (12) months from the date upon which any such Member becomes a Withdrawing Member pursuant to a sale of one hundred percent (100%) of its Company Interest pursuant to this Company Agreement; provided however, that from and after the date that is six (6) months following such date a Member becomes a Withdrawing Member, the provisions of Section 7.1 shall have no effect with respect to Affiliates of the Withdrawing Member to the extent such Affiliates result from a Change in Control transaction of such Withdrawing Member announced and consummated subsequent to the date such Member sold one hundred percent (100%) of its Company Interest.

Appears in 2 contracts

Samples: Admission Agreement (Piedmont Natural Gas Co Inc), Services Agreement (Agl Resources Inc)

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Survival of Non-Competition Provisions. The provisions of Section 7.1 shall remain in effect effect, with respect to each Member and its Affiliates or former Member and its Affiliates of the Company until the passage first anniversary of twelve (12) months from the date upon which any such Member becomes a Withdrawing Member pursuant to a sale of one hundred percent (100%) % of its Company Interest pursuant to this Company Agreement; provided however, that from and after the date that is six (6) months following such date a Member becomes a Withdrawing withdrawing Member, the provisions of Section 7.1 shall have no effect with respect to Affiliates of the Withdrawing Member to the extent such Affiliates result from a Change in Control transaction of such Withdrawing Member announced and consummated subsequent to the date such Member sold one hundred percent (100%) % of its Company Interest.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Agl Resources Inc), Limited Liability Company Agreement (Piedmont Natural Gas Co Inc)

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