Restriction on New Branches Sample Clauses

The 'Restriction on New Branches' clause limits a party's ability to open or establish additional business locations or outlets during the term of an agreement. Typically, this clause applies to franchisees or licensees, preventing them from expanding their operations beyond the agreed-upon sites without prior approval from the franchisor or licensor. Its core practical function is to maintain control over brand expansion, ensuring consistency and protecting the interests of the party granting the rights by preventing unauthorized or uncontrolled growth.
Restriction on New Branches. ▇▇▇▇▇▇ agrees that it will not, for a period of three (3) years following the Effective Date, establish a banking branch or loan production office within a ten (10) mile radius of the Branch. Nothing contained in this Section 4.15(b), however, shall be deemed to preclude Seller from acquiring and subsequently operating a branch banking or loan production office in such area pursuant to a merger or consolidation with another depository institution, or from conducting residential mortgage lending and/or financial advisory services from or within such area.
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Restriction on New Branches. The Company shall not open a new banking branch in ▇▇▇▇▇▇▇▇▇▇ County, Tennessee, for a period of three (3) years from the Effective Date. The restriction contained in this Section 5.11 shall not affect any banking branch being operated by the Company as of the close of business on the date of this Agreement or any banking branch operated by another financial institution which acquires, or is acquired by, the Company or an Affiliate of the Company by stock acquisition, asset acquisition, merger, or otherwise; provided that said branch is in existence as of the date such other financial institution and the Company or Affiliate of the Company enter into a definitive agreement for such an acquisition or other combination.
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Restriction on New Branches. 33 ARTICLE VII - CONDITIONS TO PURCHASER'S OBLIGATIONS..............................................................33
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Restriction on New Branches. The Seller shall not open an office or ATM facility within Camden County for a period of one year following the Effective Date. This restriction shall not affect any banking branch being operated by the Seller as of the close of business on the date this of this Agreement, nor shall such restriction preclude the Seller from acquiring or being acquired by another financial institution which may have branches within such market area.
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Restriction on New Branches. The Seller shall not open an office or ATM facility within Atlantic and ▇▇▇▇▇▇ Counties and within a 5-mile radius of the present location of the Rocky Hill and Plainsboro branches for a period of not less than twenty-four months following the Effective Date. This restriction shall not preclude the Seller from acquiring or being acquired by, or merging with, another financial institution (or substantially all of the assets thereof) which may have branches within such market area.
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Restriction on New Branches. Seller shall not open a new (or relocate or expand any existing) banking branches or other physical facility, including ATMs, which offers products or services that compete with the deposit or loan business of the Branches within Belmont County for the period beginning upon the execution of this Agreement and ending five (5) years after the Effective Date. The restriction contained in this Section shall not preclude Seller from acquiring or merging with or into an institution which has branches within the area referred to herein.
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Restriction on New Branches. Neither Seller nor any of its existing affiliates shall open a new deposit taking office or loan origination office within Richland County for a period of five (5) years from the date of this Agreement. For a period of one (1) year following the Closing Date, Seller will not solicit any resident of Richland County to induce such person to shift its deposit, loan or other banking business to Seller; provided, however, that the foregoing shall not restrict, in any manner, (a) general media or other advertising not directed at a specific customer or (b) accepting a customer of the Branch who has requested a banking relationship for any reason other than the solicitation prohibited by the first clause of this Paragraph. It is expressly agreed that the foregoing restriction shall not prohibit Seller or any of its affiliates from acquiring, purchasing or merging with another financial institution or financial services company located within, having offices within or doing business within Richland County or continuing to maintain customer relationships that may exist with customers of other Peoples National Bank offices or FirstMerit affiliates that happen to live in Richland County. This Agreement does not prohibit any FirstMerit affiliates from participating in loans where either the collateral is located or the borrower resides or the originating lender has a presence in Richland County.
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Restriction on New Branches. (a) Seller shall not open or establish a new retail banking branch (excluding automated teller machines) within Restricted Area for a period of two (2) years from the Closing Date. Seller shall not expand or relocate a retail banking branch which is located within the Restricted Area as of the date of this Agreement to a location that is closer in distance to the Branch acquired by Purchaser hereunder for a period of two (2) years from the Closing Date. This restriction shall not preclude the Seller, or any affiliate, from acquiring or merging with another financial institution which may have branches within the Restricted Area. (b) Seller shall not open or establish any other physical facility, including but not limited to any loan production office or loan or mortgage origination office, which is located within the Restricted Area and which offers products or services that compete with the deposit, consumer loan or mortgage business of the Branch for a period of two (2) years from the Closing Date.
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Restriction on New Branches. The Seller shall not open a branch office in Tioga or ▇▇▇▇▇▇ County for a period of two (2) years following the Effective Time. This restriction shall not affect any banking branch operated by the Seller as of the close of business on the date of this Agreement or the relocation of any such banking branch; nor shall such restriction preclude the Seller from acquiring or being acquired by another financial institution which may have branches within such market area.
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Related to Restriction on New Branches

  • Restriction on Use The Contractor agrees that to the extent it receives or is given any information from NYSERDA or a NYSERDA contractor or subcontractor, the Contractor shall treat such data in accordance with any restrictive legend contained thereon or instructions given by NYSERDA, unless another use is specifically authorized by prior written approval of the NYSERDA Project Manager. Contractor acknowledges that in the performance of the Work under this Agreement, Contractor may come into possession of personal information as that term is defined in Section 92 of the New York State Public Officers Law. Contractor agrees not to disclose any such information without the consent of NYSERDA.

  • Restriction on Funds The Local Church, nor its Subsidiaries, are party to any agreement, contract, loan, debt or the like, aside from the Discipline, that restricts the use or spending of its funds.

  • Restriction on Resales Until the expiration of two years after the original issuance of the Securities, the Company will not, and will cause its "affiliates" (as such term is defined in Rule 144(a)(1) under the ▇▇▇▇ ▇▇▇) not to, resell any Securities which are "restricted securities" (as such term is defined under Rule 144(a)(3) under the ▇▇▇▇ ▇▇▇) that have been reacquired by any of them and shall immediately upon any purchase of any such Securities submit such Securities to the Trustee for cancellation.

  • Restriction on Repurchases Until the expiration of two years after the original issuance of the offered Securities, the Company will not, and will cause its Affiliates not to, resell any offered Securities which are “restricted securities” (as such term is defined under Rule 144(a)(3) under the 1933 Act), whether as beneficial owner or otherwise (except as agent acting as a securities broker on behalf of and for the account of customers in the ordinary course of business in unsolicited broker’s transactions).

  • Restriction on Sale Notwithstanding the Plan and any other provision of the Agreement to the contrary, the Grantee will not be permitted to sell any Ordinary Shares acquired under the Plan unless and until the necessary approvals have been obtained from the SAFE and remain effective, as determined by the Company in its sole discretion.