Common use of Competing Ventures Clause in Contracts

Competing Ventures. The Limited Partners understand that the General ------------------ Partner may have other business activities which may take the major part of the General Partner's total time devoted to business matters. Accordingly, the General Partner shall not be bound to devote all of the General Partner's business time to the affairs of the Partnership, but shall devote such time and attention to the Partnership's business as may be required in order to assure that the Partnership's business is conducted in a diligent and proper manner. During the continuance of this Agreement, Boomtown and the General Partner and/or their respective affiliated entities may (i) engage in any activity whether or not in direct competition with the Partnership for such Partner's own profit and advantage without the consent of any other Partner or the Partnership, or (ii) possess an interest in any other business venture of any nature or description independently or with others. Neither the Partnership nor any Partner shall have any right by virtue of this Agreement in and to any Partner's separate business venture or to the income or profits derived therefrom.

Competing Ventures. The Limited Partners understand that the General ------------------ Partner may have other business activities which may take the major part of the General Partner's total time devoted to business matters. Accordingly, the General Partner shall not be bound to devote all of the General Partner's business time to the affairs of the Partnership, but shall devote such time and attention to the Partnership's business as may be required in order to assure that the Partnership's business is conducted in a diligent and proper manner. During the continuance of this Agreement, Boomtown and the General any Partner and/or their such Partner's respective affiliated entities may (i) engage in any activity whether or not in direct competition with the Partnership for such Partner's own profit and advantage without the consent of any other Partner or the Partnership, or (ii) possess an interest in any other business venture of any nature or description independently or with others. Neither the Partnership nor any Partner shall have any right by virtue of this Agreement in and to any Partner's separate business venture or to the income or profits derived therefrom.

Competing Ventures. The Limited Partners understand that the General ------------------ Partner may have other business activities which may take the major part of the General Partner's Partners total time devoted to business matters. Accordingly, the General Partner shall not be bound to devote all of the General Partner's ’s business time to the affairs of the Partnership, but shall devote such time and attention to the Partnership's ’s business as may be required in order to assure that the Partnership's ’s business is conducted in a diligent and proper manner. During the continuance of this Agreement, Boomtown the General Partner and the General Limited Partner and/or their respective affiliated entities may (i) engage in any activity whether or not in direct competition with the Partnership for such Partner's ’s own profit and advantage without the consent of any other Partner or the Partnership, or (ii) possess an interest in any other business venture of any nature or description independently or with others. Neither the Partnership nor any Partner shall have any right by virtue of this Agreement in and to any Partner's ’s separate business venture or to the income or profits derived therefrom.