Common use of Independent Activities Clause in Contracts

Independent Activities. The Partnership shall be considered to be an entity and business wholly separate, for all purposes, from the business and affairs of the Partners, it being understood that the only obligations undertaken by the Partners are those expressly provided in this Agreement and those which are inherent in the role of a partner of a limited partnership. Each Partner may engage in whatever activities it chooses, whether or not the same be competitive with the Partnership, without having or incurring any obligation to offer any interest in such activities to the Partnership or any party hereto, and as a material part of the consideration for each Partner’s execution hereof, the other Partner hereby waives, relinquishes and renounces any such right or claim of participation.

Independent Activities. The Partnership shall be considered to be an entity and business wholly separate, for all purposes, from the business and affairs of the Partners, it being understood that the only obligations undertaken by the Partners are those expressly provided in this his Agreement and those which are inherent in the role of a partner of a limited partnership. Each Partner may engage in whatever activities it chooses, whether or not the same be competitive with the Partnership, without having or incurring any obligation to offer any interest in such activities to the Partnership or any party hereto, and as a material part of the consideration for each Partner’s execution hereof, the other Partner hereby waives, relinquishes and renounces any such right or claim of participation.

Independent Activities. The Partnership shall be considered to be an bean entity and business wholly separate, for all purposes, from the business and affairs of the Partners, it being understood that the only obligations undertaken by the Partners are those expressly provided in this Agreement and those which are inherent in the role of a partner of a limited partnership. Each Partner may engage in whatever activities it chooses, whether or not the same be competitive with the Partnership, without having or incurring any obligation to offer any interest in such activities to the Partnership or any party hereto, and as a material part of the consideration for each Partner’s execution hereof, the other Partner hereby waives, relinquishes and renounces any such right or claim of participation.