No Exclusive Duty to the Company. 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, by virtue of this Agreement, to share or participate in such other investments or activities of any Member or to the income or proceeds 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 2 contracts
Samples: Operating Agreement (Strategic Timber Trust Inc), Operating Agreement (Strategic Timber Trust Inc)
No Exclusive Duty to the Company. The Members No Member shall be required to manage the Company as a Member’s exclusive function and 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, by virtue of this Agreementagreement, to share or participate in such other investments or activities of any Member the Members or to the income or proceeds derived therefrom. No Member The Members shall not incur any liability to the Company or to any of the other Members as a result of engaging in any other business or venture.
Appears in 2 contracts
Samples: Operating Participation Agreement, Operating Participation Agreement
No Exclusive Duty to the Company. 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, by virtue of this Agreement, to share or participate in such other investments or activities of any Member or to the income or proceeds 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.proceeds
Appears in 1 contract
