Restaurant Asset Purchase Agreement. Sample

16 Aralık 2020

9.3. Restrictive alliances. The Asset Seller restaurant acknowledges and accepts that the purchaser of restaurant assets would not have entered into this agreement for the purchase of the acquired assets, but for the following restrictive commitments, that the provisions of this section 9.3 are supported by a good and sufficient consideration that the Restaurant Asset Seller (including, but not limited to, officers, shareholders (and their spouses, if they are present), employees and representatives of these) have information and know-how regarding the activity and assets acquired, which allow them to violate the purchaser of restaurant assets and reduce the value of the investment of the buyer of the restaurant`s assets in the business and the assets acquired when the asset seller of the restaurant should make a competitive transaction with the activity carried out by the restaurant Asset Buyer. The Asset Seller restaurant ensures and guarantees that the Asset Seller restaurant (including, but not limited to senior executives and shareholders (and their spouses, if any) does not have a restaurant operating in the regulated area (hereinafter defined), and that they commit and commit to: during due diligence, provide the purchaser of restaurant assets with non-competitive and confidentiality agreements in an acceptable form for the purchaser of restaurant and restaurant-asset assets, executed by all Key employees (i.e. Restaurant Asset Sellers shareholders), as identified by the Asset Seller restaurant and made available as a list to be adopted as a 9.3 calendar during the due diligence period. This separate non-competition agreement provides for: (a) for a period of two (2) years after the end date (the “restriction period”): within the twenty-five (25) miles of the venue, directly or as owner, officer, employee, representative or other, a restaurant, bar, catering room or banquet called “Shuckers” or a name and/or menu, menu or similar service of the restaurant; b) for a period of two (2) years after the completion date, requests, directly or indirectly, as an owner, civil servant, employee, representative or otherwise, to employ or employ workers in the company. If a provision in this section 9.3 is violated in whole or in part, the Restaurant Asset Buyer is entitled to seek, in addition to damages to a properly competent court, an injunction, an injunction or an injunction, that violation, without prejudice to other remedies that the purchaser of the restaurant`s assets may have under the law or equity, and the Asset Seller restaurant accepts the award by a court.