Non-Competing Affiliate definition
Non-Competing Affiliate means, (i) with respect to WISPARK, an Affiliate of such Member that does not regularly engage, either directly or indirectly through one or more Affiliates, in the development or construction of industrial business parks or industrial buildings, and (ii) with respect to CNT Venture, an Affiliate of such Member that does not regularly engage, either directly or indirectly through one or more Affiliates, in the business of electricity or gas generation, transmission or distribution.
Examples of Non-Competing Affiliate in a sentence
The approval of the Board shall not be required for, and neither the Right of First Refusal provided in Section 10.3 nor the Lock-Out Period shall apply with respect to, any Transfer by any Member of all or any portion of its Membership Interests to any Affiliate of such Member, provided, however, that such Affiliate is a Non-Competing Affiliate.