Like this?
$VIPResults = [PSCustomObject]@{Status='Up';ComponentName='VP1'},
[PSCustomObject]@{Status='Out Of Service';ComponentName='VP1'},
[PSCustomObject]@{Status='Down';ComponentName='VP1'},
[PSCustomObject]@{Status='Up';ComponentName='VP2'}
$virtualserver = 'VP1'
foreach ($R in ( $VIPResults |
Where-Object {($_.Status -notmatch "Up|Out Of Service") -AND $_.componentname -eq $virtualserver})){
$R
}