Restrictive Covenants definition
Examples of Restrictive Covenants in a sentence
The Company, in its sole discretion, may, however, bring an action against the Executive to enforce the Restrictive Covenants in any court where jurisdiction over the Executive may be obtained.
Accordingly, if the Executive breaches or threatens or attempts to breach the Restrictive Covenants, in addition to all other available remedies, the Company and/or the Bank shall be entitled to seek injunctive relief, and no or minimal bond or other security shall be required in connection therewith.
The existence of any claim or cause of action that the Executive has against the Company and/or the Bank, whether predicated on this Agreement or otherwise, shall not constitute a defense to the enforcement by the Company or the Bank of the Restrictive Covenants.
The Restrictive Covenants are essential terms and conditions to the Company and the Bank entering into this Agreement, and they shall be construed as independent of any other provision in this Agreement or of any other agreement among the Executive, the Bank and the Company.
The Executive acknowledges and agrees that in the event of termination of this Agreement for any reason whatsoever, the Executive can obtain employment not competitive with the Company’s Business (or, if competitive, outside of the Restricted Territory and customer-specific scope described herein) and that the issuance of an injunction to enforce the provisions of the Restrictive Covenants shall not prevent the Executive from earning a livelihood.