Common use of Managers Have No Exclusive Duty to Company Clause in Contracts

Managers Have No Exclusive Duty to Company. A Manager shall not be required to manage the Company as his or her sole and exclusive function, and, subject to the fiduciary duties of a Manager set forth in this Agreement, a Manager may have other business interests and may engage in other activities in addition to those relating to the Company; provided, however, that this Section 6.7 is not intended to and shall not be construed as waiving, amending, modifying or altering any of the terms or conditions of any other agreement between any Manager and the Company which may prohibit, restrict or otherwise limit any interests or activities of the Manager.

Appears in 3 contracts

Samples: Agreement and Plan of Merger (Blackhawk Biofuels, LLC), Agreement and Plan of Merger (Blackhawk Biofuels, LLC), Merger Agreement (Blackhawk Biofuels, LLC)

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Managers Have No Exclusive Duty to Company. A Manager The Managers shall not ------------------------------------------------------ be required to manage the Company as his or her their sole and exclusive function, and, subject to the fiduciary duties of a Manager set forth in this Agreement, a Manager function and they may have other business interests and may engage in other activities in addition to those relating to the Company; provided, however, that this Section 6.7 is not intended to and shall not be construed as waiving, amending, modifying or altering any of the terms or conditions of any other agreement between any Manager and the Company which may prohibit, restrict or otherwise limit any interests or activities of the Manager.

Appears in 1 contract

Samples: Operating Agreement (DCH Technology Inc)

Managers Have No Exclusive Duty to Company. A Unless otherwise expressly provided hereunder or under any other agreement entered into between the Company and such Manager, a Manager shall not be required to manage the Company as his or her sole and exclusive function, and, subject to the fiduciary duties of a Manager set forth in this Agreement, a Manager and he may have other business interests and may engage in other activities in addition to those relating to the Company; provided, however, that this Section 6.7 is not intended to and shall not be construed as waiving, amending, modifying or altering any of the terms or conditions of any other agreement between any Manager and neither the Company which may prohibitnor any Member shall have any right, restrict by virtue of this Agreement, to share or otherwise limit any interests participate in such other investments or activities of such Manager or to the Managerincome or proceeds derived therefrom.

Appears in 1 contract

Samples: Operating Agreement (Tempus Applied Solutions Holdings, Inc.)

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Managers Have No Exclusive Duty to Company. A Manager The Managers shall not be required to manage the Company as his or her their sole and exclusive function, and, subject to the fiduciary duties of a Manager set forth in this Agreement, function and a Manager may have other business interests and may engage in other activities in addition to those relating to the Company; provided, however, provided that this Section 6.7 is not intended to the pursuit of other ventures and shall not be construed as waiving, amending, modifying or altering any other activities directly competitive with the business of the terms or conditions of any other agreement between any Manager and Company by the Company which may prohibit, restrict or otherwise limit any interests or activities of the ManagerManagers is hereby prohibited.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Ects a Scenic Technology Co Inc)

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