R
rando palmer
Guest
I live in Colorado.Does this sound like wording similiar to a non-compete clause?
"Neither the Company nor the seller is a party to any lease,license contract or royalty agreement affecting or relating to the Company's assets or the Company's business other than those listed in the Disclosure Schedules. There are no meterial defaults under any such aggrement.True copies haver been shared by both parties. All of these aggrements will be valid, binding and enforceable against the parties immediately after the closing date."
The previous owner is threatining to compete and I need to ubderstand this section of the aggrement of sale. the disclosure schedules lists company assets and a lien on 3 vehicles,which we reduced the total price by the amount of the lien.
"Neither the Company nor the seller is a party to any lease,license contract or royalty agreement affecting or relating to the Company's assets or the Company's business other than those listed in the Disclosure Schedules. There are no meterial defaults under any such aggrement.True copies haver been shared by both parties. All of these aggrements will be valid, binding and enforceable against the parties immediately after the closing date."
The previous owner is threatining to compete and I need to ubderstand this section of the aggrement of sale. the disclosure schedules lists company assets and a lien on 3 vehicles,which we reduced the total price by the amount of the lien.