A "Competitor" clause in a contract typically restricts one or both parties from engaging in activities or partnerships with specified competitors of the other party for the duration of the agreement, and possibly beyond. This clause is intended to protect a party's market position or sensitive information by limiting competitive conflicts of interest.
“GBT Competitor” means any [***] provider, and such other competitors agreed by Amex and GBT Holdco.
•Business Unit Wide Competitor – if an Entity is designated as a Business Unit Wide Competitor on the Competitor List, an Employee will have violated this non-compete provisions by being employed by, providing advice to or acting as a consultant for any line of business of that Entity in any capacity.
•Standard Competitor – the prohibition against being employed by, providing advice to or acting as a consultant for a Standard Competitor is limited to the line(s) of business, department(s) or job function(s) of the Competitor that compete(s) with the line(s) of business, department(s) or job function(s) of the Company that the former Employee provided services to, supported or managed during the two-year period preceding the date the Employee’s active employment with the Company or its Affiliates terminates.
The Company can revise the Competitor List, including the format of the Competitor List, at its discretion at any time and from time to time and as revised will become operative with respect to this Appendix C; a copy of the current Competitor List will be available through Human Resources and/or the Company’s intranet. Notwithstanding anything in this Appendix C to the contrary, the Company shall not make any addition to the Competitor List for a period of two years following the date of a Change in Control.
Subject to the terms hereof, Wallbox hereby unconditionally and irrevocably grants to Generac a first right of refusal to purchase or subscribe for all or any portion of the equity, debt securities, other securities or assets that Wallbox may propose to issue, sell, license or otherwise transfer to a Generac Competitor in a Competitor Financing, at the same price and on the same terms and conditions as those offered to the Generac Competitor. For purposes hereof, (a) “Competitor Financing” means the sale by Wallbox of equity of any class, of any debt securities of any type, or of any other security of Wallbox (whether from treasury or in the form of newly issued shares) that is convertible into any equity of Wallbox, or the merger, consolidation or combination of Wallbox with a Generac Competitor, in each case pursuant to a bona fide offer received by Wallbox from a Generac Competitor, whether solicited by Wallbox (or its officers, directors, stockholders, representatives or agents) or pursuant to an unsolicited offer from such Generac Competitor; and (b) “Generac Competitor” means Schneider, Solar Edge or Enphase.
In the event that Wallbox intends to consummate a Competitor Financing, it shall not later than forty-five (45) days prior to the consummation of such Competitor Financing notify Generac in writing of the proposed terms and conditions of the Competitor Financing (such notice, the “Competitor Financing Notice”). To exercise its rights of first refusal, Generac must deliver a notice to Wallbox within twenty (20) days (the “Generac Deadline”) after delivery of the Competitor Financing Notice setting forth the amount of equity, other securities or assets (in each case to the extent related to the terms of the Competitor Financing transaction) it elects to purchase (the “Generac Offer”). Upon timely receipt of the Generac Offer notice, Wallbox shall be prohibited from selling such equity or other securities offered to be purchased by Generac pursuant to the Generac Offer to, or otherwise from consummating the Competitor Financing transaction with, the Generac Competitor unless Wallbox has accepted the Generac Offer and Generac fails to consummate the terms of the transaction pursuant to the Generac Offer during the forty-five (45) day period following such notice from Generac to Wallbox (the “Consummation Period”).
(b) “Principal Competitor” means: (1) Waste Management, Inc.; (2) Waste Connections, Inc.; (3) Progressive Waste Solutions, Ltd.; (4) Advanced Disposal Services, Inc.; (5) Casella Waste Systems, Inc.; or (6) any other public or private business (including their predecessors, successors, parents, subsidiaries, or affiliate operations) conducting Non-hazardous Solid Waste Management in three (3) or more states, territories or provinces in which Company conducts business.
(c) “Competitor” means any public or private business that provides Non-hazardous Solid Waste Management in any state, territory, province or other location in which Company conducts business.
4.2 Prohibition Against Competition. During Executive’s employment with Company, and for two (2) years after Executive’s employment ends, Executive will not Render Services on behalf of any Principal Competitor, or any Competitor, within any state, territory, province or other location in which Company conducts business. In the event a court concludes that the above post-employment restriction is unreasonable, Executive agrees that, for eighteen (18) months after Executive’s employment ends, Executive will not Render Services on behalf of any Principal Competitor, or any Competitor, within fifty (50) miles of any Facility.
(a) The geographic markets in which the Company Competitor (or the Company Competitor’s Affiliate or business unit which DHL is investing in or acquiring) is primarily active are outside of the United States, the United Kingdom, the EU, Australia and Canada, and the investment or acquisition will not limit DHL’s ability to meet its obligations to the Company under this Letter; or
(b) At the time of the contemplated investment or acquisition, the Company does not offer and does not plan to offer (based on its then-current product road map as presented to the Company’s Board of Directors) products or services that are the same or substantially similar to those of the Company Competitor (or the Company Competitor’s Affiliate or business unit which DHL is investing in or acquiring), and the investment or acquisition will not limit DHL’s ability to meet its obligations to the Company under this Letter.
A competitor clause is a provision in a contract that restricts one party from engaging in business activities that would directly compete with another party, typically to protect proprietary information or business interests. This clause aims to prevent conflicts of interest, safeguard trade secrets, and ensure that businesses maintain a competitive edge in the market.
You should include a competitor clause in your contracts when:
To write an effective competitor clause, follow these steps:
Competitor clauses are commonly included in the following types of contracts:
By including a competitor clause, businesses can reduce the risk of direct competition and ensure protection of their intellectual property and strategic initiatives.
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Dive deeper into the world of clauses and learn more about these other clauses that are used in real contracts.
The "Complete Agreement" clause, also known as the "Entire Agreement" clause, stipulates that the written contract constitutes the full and final expression of the parties' agreement, precluding any prior or contemporaneous oral or written statements from affecting its terms. This clause aims to prevent any external documents or discussions from altering the agreed-upon terms, ensuring that only the written contract governs the parties' obligations and rights.
The "Compliance with Company Policies" clause typically requires employees, contractors, or partners to adhere to the organization's established policies, procedures, and ethical standards as a condition of their engagement. This clause ensures that all parties are aware of and agree to follow the rules and guidelines intended to maintain a safe, lawful, and cohesive working environment.
A condition precedent is a contractual clause that specifies an event or action that must occur before a party is obligated to perform their duties under the contract. If the condition is not met, the contract may become void or the obligations are suspended until the condition is satisfied.
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