Common use of Duties of Parties Clause in Contracts

Duties of Parties. (a) The General Managers shall devote such time to the business and affairs of the Company as is necessary to carry out the General Managers’ duties set forth in this Agreement. (b) Except as otherwise expressly provided in Section 6.4(c) and Section 10, nothing in this Agreement shall be deemed to restrict the rights of any Member, or of any Affiliate of any Member, to conduct any other business or activity. The organization of the Company shall be without prejudice to their respective rights (or the rights of their respective Affiliates) to maintain, expand, or diversify such other interests and activities and to receive and enjoy profits or compensation therefrom. Each Member waives any rights the Member might otherwise have to share or participate in such other interests or activities of any other Member or the Member’s Affiliates. (c) Each Member understands and acknowledges that the conduct of the Company’s business may involve business dealings and undertakings with Members and their Affiliates. In any of those cases, those dealings and undertakings shall be at arm’s length and on commercially reasonable terms.

Duties of Parties. (a) The General Managers shall devote such time to the business and affairs of the Company as is necessary to carry out the General Managers’ duties set forth in this Agreement. (b) Except as otherwise expressly provided in Section 6.4(c) and Section 107.3(b), nothing in this Operating Agreement shall be deemed to restrict in any way the rights of any Member, or of any Affiliate of any Member, to conduct any other business or activityactivity whatsoever, and the Member shall not be accountable to the Company or to any Member with respect to that business or activity even if the business or activity competes with the Company’s business. The organization of the Company shall be without prejudice to their respective rights (or the rights of their respective Affiliates) to maintain, expand, expand or diversify such other interests and activities and to receive and enjoy profits or compensation therefrom. Each Member waives any rights the Member might otherwise have to share or participate in is such other interests or activities of any other Member or the Member’s Affiliates. (cb) Each Member understands and acknowledges that the conduct of the Company’s business may involve business dealings and undertakings with Members and their Affiliates. In any of those cases, those dealings and undertakings shall be at arm’s length and on commercially reasonable terms.

Duties of Parties. (a) The General Managers shall devote such time to the business and affairs of the Company as is necessary to carry out the General Managers’ duties set forth in this Agreement. (b) Except as otherwise expressly provided in Section 6.4(c) and Section 1011, nothing in this Agreement shall be deemed to restrict the rights of any Member, or of any Affiliate of any Member, to conduct any other business or activity. The organization of the Company shall be without prejudice to their respective rights (or the rights of their respective Affiliates) to maintain, expand, or diversify such other interests and activities and to receive and enjoy profits or compensation therefrom. Each Member waives any rights the Member might otherwise have to share or participate in such other interests Interests or activities of any other Member or the Member’s Affiliates. (c) Each Member understands and acknowledges that the conduct of the Company’s business may involve business dealings and undertakings with Members and their Affiliates. In any of those cases, those dealings and undertakings shall be at arm’s length and on commercially reasonable terms.