Common use of Agreements Not to Compete Clause in Contracts

Agreements Not to Compete. Each natural person who as of the Closing Date is the holder of 10% or more of the common stock or membership interests of a Predecessor Company (other than any such Person who is subject to another agreement not to compete with the Holding Company) shall have entered into Agreements Not to Compete with the Holding Company substantially in the forms attached hereto collectively as Exhibit C and, subject to the occurrence of the Closing, each such Agreement Not to Compete shall be in full force and effect as of the Closing Date.

Appears in 3 contracts

Sources: Plan of Reorganization and Agreement for Share Exchange Offers (Precision Auto Care Inc), Plan of Reorganization and Agreement for Share Exchange Offers (Precision Auto Care Inc), Plan of Reorganization and Agreement for Share Exchange Offers (Precision Auto Care Inc)