Common use of General Covenants of the Executive Clause in Contracts

General Covenants of the Executive. The Executive acknowledges that (a) the principal business of the Company is the acquisition, development and ownership of Healthcare REIT interests in senior housing properties (such business, and any and all other businesses that after the date hereof, and from time to time during the Term, become material with respect to the Company’s then-overall business, herein being collectively referred to as the “Business”) (for purposes of this Agreement, “Healthcare REIT” shall mean a company that invests in primarily senior housing properties and that is qualified as a real estate investment trust for purposes of federal income taxation); (b) the Company knows of a limited number of persons who have developed the Business; (c) the Business is, in part, national in scope; (d) the Executive’s work for the Company and its subsidiaries has given and will continue to give the Executive access to the confidential affairs and proprietary information of the Company and to “trade secrets,” (as defined in Section 688.002(4) of the Florida Statutes) of the Company and its subsidiaries; (e) the covenants and agreements of the Executive contained in this Section 6.1 are essential to the business and goodwill of the Company; and (f) the Company would not have entered into this Agreement but for the covenants and agreements set forth in this Section 6.1.

Appears in 15 contracts

Samples: Employment Agreement (Legacy Healthcare Properties Trust Inc.), Employment Agreement (Legacy Healthcare Properties Trust Inc.), Employment Agreement (Legacy Healthcare Properties Trust Inc.)

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General Covenants of the Executive. The Executive acknowledges that (a) the principal business of the Company is the acquisition, development and ownership of Healthcare REIT interests in senior housing multi-family residential properties (such business, and any and all other businesses that after the date hereof, and from time to time during the Term, become material with respect to the Company’s then-overall business, herein being collectively referred to as the “Business”) (for purposes of this Agreement, “Healthcare Multi-family REIT” shall mean a company that invests in primarily senior housing multi-family residential properties and that is qualified as a real estate investment trust for purposes of federal income taxation); (b) the Company knows of a limited number of persons who have developed the Business; (c) the Business is, in part, national in scope; (d) the Executive’s work for the Company and its subsidiaries has given and will continue to give the Executive access to the confidential affairs and proprietary information of the Company and to “trade secrets,” (as defined in Section 688.002(4) under the laws of the Florida StatutesState of Maryland) of the Company and its subsidiaries; (e) the covenants and agreements of the Executive contained in this Section 6.1 6 are essential to the business and goodwill of the Company; and (f) the Company would not have entered into this Agreement but for the covenants and agreements set forth in this Section 6.16.

Appears in 6 contracts

Samples: Employment Agreement (Landmark Apartment Trust, Inc.), Employment Agreement (Landmark Apartment Trust, Inc.), Employment Agreement (Landmark Apartment Trust of America, Inc.)

General Covenants of the Executive. The Executive acknowledges that (a) the principal business of the Company is the acquisition, development rental and ownership management of Healthcare REIT interests in senior housing single-family residential properties (such business, and any and all other businesses that after the date hereof, and from time to time during the Term, become material with respect to the Company’s then-overall business, herein being collectively referred to as the “Business”) (for purposes of this Agreement, “Healthcare Single-family Residential REIT” shall mean a company that invests in primarily senior housing single-family residential properties and that is qualified as a real estate investment trust for purposes of federal income taxation); (b) the Company knows of a limited number of persons who have developed the Business; (c) the Business is, in part, national in scope; (d) the Executive’s work for the Company and its subsidiaries has given and will continue to give the Executive access to the confidential affairs and proprietary information of the Company and to “trade secrets,” (as defined in Section 688.002(4) under the laws of the Florida StatutesState of Arizona) of the Company and its subsidiaries; (e) the covenants and agreements of the Executive contained in this Section 6.1 are essential to the business and goodwill of the Company; and (f) the Company would not have entered into this Agreement but for the covenants and agreements set forth in this Section 6.1.

Appears in 5 contracts

Samples: Employment Agreement (American Residential Properties, Inc.), Employment Agreement (American Residential Properties, Inc.), Employment Agreement (American Residential Properties, Inc.)

General Covenants of the Executive. The Executive acknowledges that (a) the principal business of the Company is the acquisition, development and ownership of Healthcare REIT interests in senior housing multi-family residential properties (such business, and any and all other businesses that after the date hereof, and from time to time during the Term, become material with respect to the Company’s then-overall business, herein being collectively referred to as the “Business”) (for purposes of this Agreement, “Healthcare Multi-family REIT” shall mean a company that invests in primarily senior housing multi-family residential properties and that is qualified as a real estate investment trust for purposes of federal income taxation); (b) the Company knows of a limited number of persons who have developed the Business; (c) the Business is, in part, national in scope; (d) the Executive’s work for the Company and its subsidiaries has given and will continue to give the Executive access to the confidential affairs and proprietary information of the Company and to “trade secrets,” (as defined in Section 688.002(4) under the laws of the Florida StatutesCommonwealth of Virginia) of the Company and its subsidiaries; (e) the covenants and agreements of the Executive contained in this Section 6.1 are essential to the business and goodwill of the Company; and (f) the Company would not have entered into this Agreement but for the covenants and agreements set forth in this Section 6.1.

Appears in 4 contracts

Samples: Employment Agreement (Landmark Apartment Trust of America, Inc.), Employment Agreement (Landmark Apartment Trust of America, Inc.), Employment Agreement (Landmark Apartment Trust of America, Inc.)

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General Covenants of the Executive. The Executive acknowledges that (ai) the principal business of the Company is the acquisition, development investing in mortgage-backed securities and ownership of Healthcare REIT interests in senior housing properties other mortgage related assets (such business, and any and all other businesses that after the date hereof, and from time to time during the Term, become material with respect to the Company’s then-overall business, herein being collectively referred to as the “Business”) (for purposes of this Agreement, “Healthcare Mortgage REIT” shall mean a company that invests in primarily senior housing properties mortgage-backed securities and other mortgage related assets and that is qualified as a real estate investment trust for purposes of federal income taxation); (bii) the Company knows of a limited number of persons who have developed the Business; (ciii) the Business is, in part, national in scope; (div) the Executive’s work for the Company and its subsidiaries has given and will continue to give the Executive access to the confidential affairs and proprietary information of the Company and to trade secrets,” (as defined in Section 688.002(4) of the Florida Statutes) secrets of the Company and its subsidiaries; (ev) the covenants and agreements of the Executive contained in this Section 6.1 8 are essential to the business and goodwill of the Company; and (fvi) the Company would not have entered into this Agreement but for the covenants and agreements set forth in this Section 6.18.

Appears in 1 contract

Samples: Employment Agreement (New York Mortgage Trust Inc)

General Covenants of the Executive. The Executive acknowledges that (ai) the principal business of the Company is the acquisition, development investing in commercial mortgage-backed securities and ownership of Healthcare REIT interests in senior housing properties other commercial real estate assets (such business, and any and all other businesses that after the date hereof, and from time to time during the Term, become material with respect to the Company’s then-overall business, herein being collectively referred to as the “Business”) (for purposes of this Agreement, “Healthcare REIT” shall mean a company that invests in primarily senior housing properties mortgage-backed securities and other real estate assets and that is qualified as a real estate investment trust for purposes of federal income taxation); (bii) the Company knows of a limited number of persons who have developed the Business; (ciii) the Business is, in part, national in scope; (div) the Executive’s work for the Company and its subsidiaries has given and will continue to give the Executive access to the confidential affairs and proprietary information of the Company and to trade secrets,” (as defined in Section 688.002(4) of the Florida Statutes) secrets of the Company and its subsidiaries; (ev) the covenants and agreements of the Executive contained in this Section 6.1 8 are essential to the business and goodwill of the Company; and (fvi) the Company would not have entered into this Agreement but for the covenants and agreements set forth in this Section 6.18.

Appears in 1 contract

Samples: Employment Agreement of Doug Neal (New York Mortgage Trust Inc)

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