Duties of Parties. 5.3.1 The General Manager shall devote such time to the business and affairs of the Company as is necessary to carry out the General Manager's duties set forth in this Agreement. 5.3.2 Except as otherwise expressly provided in Section 5.3.3, nothing in this Agreement shall be deemed to restrict in any way the rights of any Member to conduct any other business or activity whatsoever, and the Member shall not be accountable to the Company or to any other 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 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. 5.3.3 Each Member understands and acknowledges that the conduct of the Company's business may involve business dealings and undertakings with Members and Persons related to Members. In any of those cases, those dealings and undertakings shall be at arm's length and on commercially reasonable terms.
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Samples: Operating Agreement (Madison Run, LLC), Operating Agreement (Madison Run, LLC)
Duties of Parties. 5.3.1 5.4.1. The General Manager Members shall devote such time to the business and affairs of the Company as is necessary to carry out the General Manager's Members' duties set forth in this Agreement.
5.3.2 5.4.2. Except as otherwise expressly provided in Section 5.3.35.4.3, nothing in this Agreement shall be deemed to restrict in any way the rights of any Member to conduct any other business or activity whatsoever, and the no Member shall not be accountable to the Company or to any other 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 the Members' respective rights 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 such other interests or activities of any other Member.
5.3.3 5.4.3. Each Member understands and acknowledges that the conduct of the Company's business may involve business dealings and undertakings with Members and Persons related to Members. In any of those cases, those dealings and undertakings shall be at arm's length and on commercially reasonable terms.
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Samples: Operating Agreement (DMTR LLC)
Duties of Parties. 5.3.1 The General Manager 5.4.1 Each Member shall devote such time to the business and affairs of the Company as is necessary to carry out the General Manager's Member’s duties set forth in this Agreement.
5.3.2 5.4.2 Except as otherwise expressly provided in Section 5.3.34.4.3, nothing in this Agreement shall be deemed to restrict in any way the rights of any Member Member, to conduct any other business or activity whatsoever, and the Member shall not be accountable to the Company or to any other Member with respect to that business or activity even if the business or activity competes with the Company's ’s business. The organization of the Company shall be without prejudice to their respective rights 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 such other interests or activities of any other Member.
5.3.3 5.4.3 Each Member understands and acknowledges that the conduct of the Company's ’s business may involve business dealings and undertakings with Members and Persons related to Members. In any of those cases, those dealings and undertakings shall be at arm's ’s length and on commercially reasonable terms.
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Duties of Parties. 5.3.1 5.4.1. The General Manager shall devote such time to the business and affairs of the Company as is necessary to carry out the General Manager's duties set forth in this Agreement.
5.3.2 5.4.2. Except as otherwise expressly provided in Section 5.3.35,4.3, nothing in this Agreement shall be deemed to restrict in any way the rights of any Member to conduct any other business or activity whatsoever, and the Member shall not be accountable to the Company or to any other 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 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.
5.3.3 5.4.3. Each Member understands and acknowledges that the conduct of the Company's business may involve business dealings and undertakings with Members and Persons related to Members. In any of those cases, those dealings and undertakings shall be at arm's length and on commercially reasonable terms.
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