New Competitor definition
New Competitor or “Novice Competitor” means a Competitor racing at a Circuit for the first time; and
New Competitor means a member of a competing crew who has participated as a competitor in less than three(3) Rallies, and
New Competitor means any Person other than an Existing Competitor who commences the sale of any C-Implant product in the EU after the Original MSA Effective Date.
More Definitions of New Competitor
New Competitor means any Person that both (x) competes with any business of Borrower and (y) has been added to Schedule S-2 of this Agreement after the Closing Date in accordance with the terms of this Agreement by the Borrower delivering to the Agent and the Lenders written notice of such addition (each such notice a “New Competitor Notice”), provided that (a) no Person shall be considered a New Competitor for purposes of the Right of First Offer Agreement or this Agreement (i) if such Person is a Specified Competitor or (ii) in the event Agent determines in good faith that such Person does not compete with any business of Borrower and Agent provides written notice of such determination to Borrower within 30 days of Agent’s receipt of the applicable New Competitor Notice, and (b) no commercial bank, finance company, insurance company, financial institution or fund that is engaged in making, purchasing or otherwise investing in commercial loans in the ordinary course of its business may be named as a New Competitor, and notwithstanding any New Competitor Notice naming any such Person as a New Competitor, any such Person shall not be considered a New Competitor regardless of whether Agent gives any notice written or otherwise to Borrower that such Person may not be considered a New Competitor.