Common use of Freedom to Compete Clause in Contracts

Freedom to Compete. Neither the Company nor any of the Subsidiaries is a party to or bound or affected by any commitment, agreement or document containing any covenant which (i) expressly limits the freedom of the Company or any of the Subsidiaries to compete in any line of business, transfer or move any of its assets or operations or (ii) would have any change, effect, event or occurrence, that is, or would be reasonably expected to be, materially adverse with respect to: (x) the condition (financial or otherwise), properties, assets, liabilities (contingent or otherwise), obligations (whether absolute, accrued, conditional or otherwise), business, affairs, capital, ownership, control, management, operations, results of operations or prospects of the Company and its Subsidiaries (on a consolidated basis), (y) the transactions contemplated by this Agreement, and (z) the ability of the Company or the Agents to perform their respective obligations under this Agreement ("Material Adverse Effect").