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

Members Have No Exclusive Duty to Company. Except only as may be provided in another agreement between the Company and the Member in question, a Member may have other business interests and may engage in other activities in addition to those relating to the Company. Neither the Company nor any Member shall have any right by virtue of this Agreement to share or participate in any other interests or activities of any Member or to the income, proceeds or other benefits derived therefrom.

Appears in 12 contracts

Samples: Operating Agreement, Operating Agreement (Lincolnway Energy, LLC), Operating Agreement (Lincolnway Energy, LLC)

Members Have No Exclusive Duty to Company. Except only as may be provided in another agreement between the Company and the Member in question, a Member The Members may have other business interests and may engage in other activities in addition to those relating to the Company. Neither the Company nor any Member shall have any right right, by virtue of this Agreement Agreement, to share or participate in any such other interests investments or activities of any the Member or to the income, income or proceeds derived there from. The Member shall incur no liability to the Company or to any of the Members as a result of engaging in any other benefits derived therefrombusiness or venture.

Appears in 7 contracts

Samples: Operating Agreement, Operating Agreement, Operating Agreement

Members Have No Exclusive Duty to Company. Except only as may The Member shall not be provided in another agreement between required to manage the Company as his exclusive function and the Member in question, a Member may have other business interests and may engage in other activities in addition to those relating to the Company. Neither Member shall incur no liability to the Company nor any Member shall have any right by virtue as a result of this Agreement to share or participate engaging in any other interests business or activities of any Member or to the income, proceeds or other benefits derived therefromventure.

Appears in 3 contracts

Samples: Operating Agreement (Calumet Superior, LLC), Operating Agreement (Calumet Superior, LLC), Operating Agreement (Calumet Superior, LLC)

Members Have No Exclusive Duty to Company. Except only as may No Member shall be provided in another agreement between required to manage the Company as a sole and the Member in question, a exclusive function. Any Member may have other business interests and may engage in other activities in addition to those relating to the Company. Neither the Company nor any Member shall have any right right, by virtue of this Agreement Operating Agreement, to share or participate in any such other interests or activities of any Member or to the income, income or proceeds or other benefits derived therefrom.

Appears in 3 contracts

Samples: Annual Report, Agreement to Form (Echostar Communications Corp), Agreement to Form (Echostar Communications Corp)

Members Have No Exclusive Duty to Company. Except only as may be provided in another agreement between The Members shall have no exclusive duty to act on behalf of the Company and the Member in question, a Company. Each Member may have other business interests and may engage in other activities in addition to those relating to the Company. Neither the Company nor any Member shall have any right right, by virtue of this Agreement Amended Agreement, to share or participate in any other interests investments or activities of any other Member. No Member shall incur any liability to the Company or to any of the income, proceeds Members as a result of engaging in any other business or other benefits derived therefromventure.

Appears in 2 contracts

Samples: Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement (Americas Power Partners Inc)

Members Have No Exclusive Duty to Company. Except only as may be provided in another agreement between the Company and the Member in question, a Member The Members may have other business interests and may engage in other activities in addition to those relating to the Company, regardless of whether the same compete with the activities of the Company. Neither the Company nor any Member shall have any right right, by virtue of this Agreement Agreement, to share or participate in any such other interests investments or activities of any Member or to the income, income or proceeds or other benefits derived therefrom. No Member shall incur liability to the Company or to any of the other Members as a result of engaging in any other business or venture.

Appears in 1 contract

Samples: Operating Agreement (Behringer Harvard Opportunity REIT II, Inc.)

Members Have No Exclusive Duty to Company. Except only as may be provided in another agreement between the Company and the Member in question, a Member may have other business interests and may engage in other activities in addition to those relating to the Company. Neither the Company nor any Member shall have any right right, by virtue of this Agreement Agreement, to share or participate in any other interests or activities of any Member of the Members or to the income, proceeds or other benefits derived therefrom.

Appears in 1 contract

Samples: Operating Agreement (Lincolnway Energy, LLC)

Members Have No Exclusive Duty to Company. Except only as may be provided in another agreement between the Company A Member and the Member in question, a Member its Affiliates may have other business interests and may engage in other activities in addition to those relating to the Company. Neither the Company nor any another Member shall have any right right, by virtue of this Agreement Limited Liability Company Agreement, to share or participate in any such other interests investments or activities of any a Member or its Affiliates or to the income, income or proceeds or other benefits derived therefrom. A Member shall incur no liability to the Company or to another Member as a result of the Member or any of its Affiliates engaging in any other business or venture.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Bluerock Residential Growth REIT, Inc.)

Members Have No Exclusive Duty to Company. Except only as may be provided in another agreement between the Company and the Member in question, a Member The Members may have other business interests and may engage in other activities in addition to those relating to the Company, regardless of whether the same compete with the activities of the Company. Neither the Company nor any Member shall have any right right, by virtue of this Agreement Agreement, to share or participate in any such other interests investments or activities of any Member or to the income, income or proceeds or other benefits derived therefrom. No Member shall incur liability to the Company or to any of the other Members as a result of engaging in any other business or venture. Each Member may act in its own best interests as an investor, subject to any express obligations that it has to any other Member or the Company.

Appears in 1 contract

Samples: Operating Agreement (Inland Western Retail Real Estate Trust Inc)

Members Have No Exclusive Duty to Company. Except only as may be provided in another agreement between the Company A Member and the Member in question, a Member its Affiliates may have other business interests and may engage in other activities in addition to those relating to the Company. Neither the Company nor any another Member shall have any right right, by virtue of this Agreement Limited Liability Company Agreement, to share or participate in any such other interests investments or activities of any a Member of its Affiliates or to the income, income or proceeds or other benefits derived therefrom. A Member shall incur no liability to the Company or to another Member as a result of the Member or any of its Affiliates engaging in any other business or venture.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Bluerock Residential Growth REIT, Inc.)

Members Have No Exclusive Duty to Company. Except only as may be provided in another agreement between the Company and the Member in question, a Member The Members may have other business interests and may engage in other activities in addition to those relating to the Company. Neither the Company nor any Member shall have any right right, by virtue of this Agreement Agreement, to share or participate in any such other interests investments or activities of any the Member or to the income, income or proceeds or other benefits derived therefrom. The Member shall incur no liability to the Company or to any or the Members as a result of engaging in any other business or venture.

Appears in 1 contract

Samples: Limited Liability Company Agreement