Restricted Person definition
Examples of Restricted Person in a sentence
For the avoidance of doubt, it shall not constitute a breach of this Section 5.7 if a Restricted Person, in response to any unsolicited request for referral or recommendation from any Person, refers such Person to a Competing Business.
In the event of a breach of clause 22 the Client shall pay to Mustard Ltd by way of liquidated damages an amount equivalent to the higher of either 80% of the annual salary of the Restricted Person or a sum representing the equivalent of the cost of the Services for a 6 month period.
Notwithstanding the foregoing, the following activities shall not constitute a breach of this Section 5.13(a): ownership by a Restricted Person, as a passive investment, in the aggregate of less than two percent (2%) of the outstanding shares or other Equity Interests of capital stock of any corporation or other entity listed on a national securities exchange or publicly traded on any nationally recognized over-the-counter market.
Borrower and each person owning a significant interest in Borrower shall not engage in dealings or transactions or otherwise be associated with an OFAC Restricted Person.
Notwithstanding the foregoing (X) a Restricted Person may own, directly or indirectly, solely as a passive investment, securities of any Person traded on any national securities exchange if such Restricted Person is not a controlling Person of, or a member of a group which controls, such Person and does not, directly or indirectly, own two percent (2%) or more of any class of securities of such Person, and (Y) Buyers expressly acknowledge, agree and accept that each of ▇.