Competing Person definition

Competing Person means any Person a substantial majority of whose business is in the same or similar business of LICENSEE and who is a direct competitor of LICENSEE or any of its Affiliates that is an Affiliate of such Person

Competing Person has the meaning set forth in Section 6.8(b)(viii).

Competing Person means any Person whom the Board reasonably determines is a significant direct competitor of the Corporation in the sense that a substantial activity of such Person is in direct competition with a significant business interest of the Corporation.

Examples of Competing Person in a sentence

• Navistar shall not, without the prior written consent of Caterpillar, which consent may be withheld in the sole discretion of Caterpillar, Transfer its Membership Interest to, or pledge or in any manner encumber its Membership Interest in favor of, any Caterpillar Competing Person.

• Caterpillar shall not, without the prior written consent of Navistar, which consent may be withheld in the sole discretion of Navistar, Transfer its Membership Interest to, or pledge or in any manner encumber its Membership Interest in favor of, any Navistar Competing Person.

• If both Sections 19.1.1 and 19.1.2 are determined to be invalid or unenforceable in any situation, then except as set forth in Section 3.2.5 and Section 19.2, the Parties shall adhere to Section 19.1.2.2 with respect to such situation, it being understood that the Parties shall so adhere to Section 19.1.2.2 irrespective of whether or not the relevant third party or prospective purchaser is a Caterpillar Competing Person or a Navistar Competing Person.

• To the fullest extent permitted by Law, the legal doctrines of “corporate opportunity,” “business opportunity” and similar doctrines shall not be applied to any such other venture, opportunity or activity in which any Competing Person may engage or invest or to which any Competing Person may devote its time.

• The Right to Compete of each Competing Person shall not require notice to, approval from, or subject to the provisions of Section 2.9(b) below, other sharing with, the other Members, the Company or the Company’s Subsidiaries.

More Definitions of Competing Person

Competing Person has the meaning given in Section 8.1(a).

Competing Person has the meaning set forth in Section 2.9(a).

Competing Person means, as to any particular time, (a) a Person that manufactures trucks that are in competition with any or all of the Business, any business of Caterpillar that generated more than $300,000,000 in annual revenue during the then most recent complete fiscal year of Caterpillar, and any business of Navistar that generated more than $300,000,000 in annual revenue during the then most recent complete Fiscal Year of Navistar, and (b) any subsidiary or Affiliate of such Person.

Competing Person shall have the meaning set forth in Section 5.1(a).

Competing Person shall have the meaning set forth in Section 6.19(a).

Competing Person has the meaning given to such term in Section 5.13(e).

Competing Person means (i) any Person for which the Competing Business Purpose constitutes the primary focus of such Person’s business or (ii) with respect to Persons that are not so primarily engaged in the Competing Business Purpose, any division or segment of the Person that is primarily engaged in the Competing Business Purpose. “Restricted Territory” means worldwide.