Existing Business Ventures Clause Samples
The "Existing Business Ventures" clause defines how any business activities or enterprises that a party is already involved in prior to entering into an agreement are treated under that agreement. Typically, this clause clarifies that such pre-existing ventures are not subject to the terms, restrictions, or obligations imposed by the new contract, and may require the party to disclose these ventures to avoid conflicts of interest. Its core function is to protect the parties' ongoing business interests and prevent misunderstandings or disputes about whether the agreement affects ventures that predate it.
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Existing Business Ventures. The Sole Member, each Director and their respective Affiliates may engage in or possess an interest in other business ventures of any nature or description, independently or with others, similar or dissimilar to the business of the Company or the Partnership, and the Company, the Partnership, the Directors and the Sole Member shall have no rights by virtue of this Agreement in and to such independent ventures or the income or profits derived therefrom, and the pursuit of any such venture, even if competitive with the business of the Company or the Partnership, shall not be deemed wrongful or improper.
Existing Business Ventures. Subject to any applicable provisions of the Omnibus Agreement, the Sole Member, each Director and their respective affiliates may engage in or possess an interest in other business ventures of any nature or description, independently or with others, similar or dissimilar to the business of the Company or the Partnership, and the Company, the Partnership, the Directors and the Sole Member shall have no rights by virtue of this Agreement in and to such independent ventures or the income or profits derived therefrom, and the pursuit of any such venture, even if competitive with the business of the Company or the Partnership, shall not be deemed wrongful or improper.
Existing Business Ventures. The Sole Member, each Director and their respective Affiliates may engage in or possess an interest in other business ventures of any nature or description, independently or with others, similar or dissimilar to the business of the Company or the Partnership or its Subsidiaries, and the Company, the Partnership, the Directors and the Sole Member shall have no rights by virtue of this Agreement in and to such independent ventures or the income or profits derived therefrom, and the pursuit of any such venture, even if competitive with the business of the Company or the Partnership, shall not be deemed wrongful or improper or a breach of any duty.
Existing Business Ventures. The Sole Member, each Director and their respective Affiliates shall have the right to engage in businesses of every type and description and other activities for profit and to engage in and possess an interest in other business ventures of any and every type or description, whether in businesses engaged in or anticipated to be engaged in by the Company, independently or with others, including business interests and activities in direct competition with the business and activities of the Company. No such business interest or activity shall constitute a breach of this Agreement, any fiduciary or other duty existing at law, in equity or otherwise, or obligation of any type whatsoever to the Company, the Sole Member, any Person who acquires an interest in the Company or any Person who is otherwise bound by this Agreement; provided such Person does not engage in such business or activity as a result of or using confidential or proprietary information provided by or on behalf of the Partnership to such ▇▇▇▇▇.
Existing Business Ventures. The Company and the Members recognize that (i) each Member, each Director and their respective Affiliates may engage in or possess an interest in other business ventures of any nature or description, independently or with others, similar or dissimilar to the business of the Company or the Partnership, (ii) each Member, each Director and their respective Affiliates may serve as a director, managers, officer, or employee of, or advisor to, such other business ventures, and (iii) that at any given time, such other business ventures may be in direct or indirect competition with the Company or the Partnership and (A) the Company, the Partnership, the Directors and the Members shall have no rights by virtue of this Agreement in and to such independent ventures or the income or profits derived therefrom, (B) the pursuit of any such venture, even if competitive with the business of the Company or the Partnership, shall not be deemed wrongful or improper notwithstanding any duty otherwise existing at law or in equity, and (C) no Member, Director or their respective Affiliates shall have any obligation to offer to the Company or the Partnership any such venture.