Additional Undertakings; Exclusivity Sample Clauses
The 'Additional Undertakings; Exclusivity' clause requires one or both parties to make further commitments beyond the main terms of the agreement, often including a promise not to negotiate or enter into similar agreements with third parties for a specified period. In practice, this may involve obligations such as providing regular updates, maintaining confidentiality, or refraining from soliciting business from competitors. The core function of this clause is to protect the interests of the parties by ensuring dedicated cooperation and preventing conflicting engagements during the exclusivity period.
Additional Undertakings; Exclusivity. (a) Asset Manager and its Affiliated Entities may engage in any other business or render similar or different services to others including, without limitation, the direct or indirect sponsorship or management of other investment based accounts or commingled pools of capital, however structured, having investment objectives the same, similar or dissimilar to those of NRF, and nothing in this Agreement shall limit or restrict the right of any director, officer, employee, partner, manager or member of Asset Manager or of its Affiliated Entities to engage in any other business or to devote his or her time and attention in part to any other business, whether of a similar or dissimilar nature, or to receive any fees or compensation in connection therewith. Asset Manager assumes no responsibility under this Agreement other than to provide or cause to be provided the Services called for hereunder. It is understood that directors, officers, employees, partners, managers, members and shareholders of NRF or any of its subsidiaries are or may become interested in Asset Manager and its Affiliates, as directors, officers, employees, partners, managers, members, stockholders, or otherwise, and that Asset Manager and directors, officers, employees, partners, managers, members and stockholders of Asset Manager and its Affiliates are or may become similarly interested in NRF or any of its subsidiaries as directors, officers, employees, partners, managers, members, shareholders or otherwise, and persons shall be permitted to hold positions with both NRF, Asset Manager and/or Affiliates of either or both.
(b) During the term of this Agreement, (i) Asset Manager and its Affiliated Entities shall be the exclusive provider of Services to NRF and its subsidiaries, other than services provided to NRF and/or its subsidiaries by (x) their own officers, directors, partners, employees and agents related to the Debt Origination Business (collectively, “NRF Employees”), as well as any partner or joint venture approved by NRF, on the one hand, and Asset Manager or its Affiliated Entities, on the other hand, in every case in the sole discretion of Asset Manager and its Affiliated Entities, (y) any third parties that are providing such services as of the date hereof and (z) any third party delegates of Asset Manager as Asset Manager may appoint from time to time in accordance with the terms of this Agreement and (ii) NRF and its subsidiaries shall not employ or contract with any other thir...