Does This Clause Mean I Can't Work Anywhere Else in the Industry at the Same Time? (company, contract)

[BigGunz]

I'm thinking about taking on some project work on the side and have been presented with terms to sign. Everything looks pretty standard, but I have a question about this:

During the term of this Agreement, Contractor will not accept work, enter into a contract, or accept an obligation inconsistent or incompatible with Contractor’s obligations, or the scope of Services rendered for Company, under this Agreement. Contractor warrants that there is no other contract or duty on Contractor’s part which conflicts with or is inconsistent with this Agreement. Contractor shall indemnify Company from any and all loss or liability incurred by reason of the alleged breach by Contractor of any agreement with a third party.

If I am already doing work in the industry (and they know this), would that work then be considered a "conflict" or not? What is the interpretation or spirit of this wording?

[nybbler]

If you're doing other work in the industry and they know it, write it into the contract as specifically not subject to that clause.

[harlowvart]

I don't see anything alarming in that clause, personally. It doesn't say that you can't do work in the industry, just that you can't take work that prevents you from meeting the terms of your contract with these people.