Common use of No Exclusive Duty to Company Clause in Contracts

No Exclusive Duty to Company. The Managing Member and each Officer shall not be required to tend to the business and affairs of the Company as such Person’s sole and exclusive function. The Managing Member and any Officer may have other business interests and may engage in other activities in addition to those relating to the Company. The Company shall not have any right, by virtue of this Agreement, to share or participate in investments or activities of the Managing Member or Officer or to the income or proceeds derived therefrom (unless such investments or activities are conducted in such Person’s capacity as a member or manager of the Company or an Officer).

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Velodyne Lidar, Inc.), Limited Liability Company Agreement (TransMontaigne Partners LLC)

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No Exclusive Duty to Company. The Managing Member Manager and each Officer Directors shall not be required to tend to the business and affairs of serve the Company as such Person’s the Manager's or Director's sole and exclusive function. The Managing Member Manager and any Officer Directors may have other business interests and may engage in other activities in addition to those relating to the Company. The Neither the Company nor any Member or Unit Holder, nor any Person who is directly or indirectly affiliated with or related to any of them shall not have any right, by virtue of this Agreement, to share or participate in investments or such other activities of the Managing Member Manager or Officer Directors or to the income or proceeds derived therefrom (unless such investments or activities are conducted in such Person’s capacity as a member or manager of the Company or an Officer)therefrom.

Appears in 2 contracts

Samples: Operating Agreement (Seed Equity Properties LLC), Operating Agreement (Seed Equity Properties LLC)

No Exclusive Duty to Company. The Managing Member and each Officer Manager shall not be required to tend to the business and affairs of manage the Company as such Person’s the Manager's sole and exclusive function. The Managing Member function and any Officer the Manager may have other business interests and may engage in other activities in addition to those relating to the Company. The Neither the Company nor any Member shall not have any right, by virtue of this Agreement, to share or participate in such other investments or activities of the Managing Member or Officer Manager or to the income or proceeds derived therefrom (unless such investments or activities are conducted in such Person’s capacity as a member or manager of therefrom. The Manager shall incur no liability to the Company or an Officer)to any of the Members as a result of engaging in any other business or ventures.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (GK Investment Property Holdings II LLC), Limited Liability Company Agreement (GK Investment Holdings, LLC)

No Exclusive Duty to Company. The Managing Member and each Officer Manager shall not be required to tend to the business and affairs of the Company as such PersonManager’s sole and exclusive function. The Managing Member function and any Officer the Manager may have other business interests and may engage in other activities in addition to those relating to the Company. The Company shall not have any right, by virtue of this Agreement, to share or participate in investments or activities of the Managing Member or Officer Manager or to the income or proceeds derived therefrom (unless such investments or activities are conducted in such Personthe Manager’s capacity as a member or manager of the Company or an Officersuch).

Appears in 2 contracts

Samples: LLC Operating Agreement (Medical Evaluation Specialists), Operating Agreement (Medical Evaluation Specialists)

No Exclusive Duty to Company. The Managing Member Manager and each Officer Directors shall not be required to tend to the business and affairs of serve the Company as such Person’s the Managers or Directors sole and exclusive function. The Managing Member Manager and any Officer Directors may have other business interests and may engage in other activities in addition to those relating to the Company. The Neither the Company nor any Member or Unit Holder, nor any Person who is directly or indirectly affiliated with or related to any of them shall not have any right, by virtue of this Agreement, to share or participate in investments or such other activities of the Managing Member Manager or Officer Directors or to the income or proceeds derived therefrom (unless such investments or activities are conducted in such Person’s capacity as a member or manager of the Company or an Officer)therefrom.

Appears in 1 contract

Samples: Operating Agreement (Seed Equity Properties LLC)

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No Exclusive Duty to Company. The Managing Member and each Officer officer shall not be required to tend to the business and affairs of the Company as such Person’s sole and exclusive function. The Managing Member and any Officer officer may have other business interests and may engage in other activities in addition to those relating to the Company. The Company shall not have any right, by virtue of this Agreement, to share or participate in investments or activities of the Managing Member or Officer officer or to the income or proceeds derived therefrom (unless such investments or activities are conducted in such Person’s capacity as a member or manager of the Company or an Officerofficer).

Appears in 1 contract

Samples: Limited Liability Company Agreement (EQRx, Inc.)

No Exclusive Duty to Company. The Managing Member and each Officer shall not be required to tend to the business and affairs of the Company as such Person’s sole and exclusive function. The Managing Member and any Officer may have other business interests and may engage in other activities in addition to those relating to the Company. The Company shall not have any right, by virtue of this Agreement, to share or participate in investments or activities of the Managing Member or Officer or to the income or proceeds derived therefrom (unless such investments or activities are conducted in such Person’s capacity as a member Member or manager of the Company or an Officer).

Appears in 1 contract

Samples: Limited Liability Company Agreement (Third Coast Midstream, LLC)

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