Competes With definition
Competes With means designs, manufactures, or markets the products that any of the SL Entities, including without limitation, SL, SL Power Electronics Corporation, RFL Electronics, Inc., SL Montevideo Technology, Inc., Teal Electronics Corporation, and/or MTE Corporation, currently designs, manufactures, or markets, for the market segments in which any of the SL Entities currently operates.
Competes With or “Competitive” refers to an entity which as part of its business operates franchise fast casual bakery café concept restaurants and where one of such restaurants (either franchised or owned) is within three (3) miles of a circular area of three (3) miles radius in which are located ten (10) or more restaurants owned or franchised by the Company.
Competes With shall not include the ownership of securities of corporations which are listed on a national securities exchange or traded in the national over-the-counter market in an amount which shall not exceed 5% of the outstanding shares of any such corporation. The parties agree that the geographic scope of this covenant not to compete shall extend throughout the United States and the entire world. The parties agree that the geographic scope of this covenant not to compete is reasonable because telecommunications is a global business and Sykes has substantial international operations. In the event a court of competent jurisdiction determines that the provisions of this covenant not to compete are excessively broad as to duration, geographical scope or activity, it is expressly agreed that this covenant not to compete shall be construed so that the remaining provisions shall not be affected, but shall remain in full force and effect, and any such over broad provisions shall be deemed, without further action on the part of any person, to be modified, amended and/or limited, but only to the extent necessary to render the same valid and enforceable in such jurisdiction. This covenant not to compete has been separately bargained for and is a material inducement to the willingness of the Investor Shareholders to invest in Newco and enter into this Agreement.
Examples of Competes With in a sentence
For purposes of this Agreement, “Competitive Entity” shall include any business or venture that in whole or in part Competes With the Business conducted by any of the SL Entities including, without limitation, SL, SL Power Electronics Corporation, RFL Electronics, Inc., SL Montevideo Technology, Inc., Teal Electronics Corporation, and/or MTE Corporation.
More Definitions of Competes With
Competes With means has the same therapuetic effect as and "essentially similar" shall be as defined in 16.