Common use of Other Activities of Members Clause in Contracts

Other Activities of Members. Any Member may have other business interests or may engage in other business ventures of any nature or description whatsoever, whether currently existing or hereafter created, and may compete, directly or indirectly, with the business of the Company. No Member or Affiliate thereof shall incur any liability to the Company as a result of such Member's or Affiliate's pursuit of such other business interest, ventures and competitive activity, and neither the Company nor the other Members shall have any right to participate in such other business ventures or to receive or share in any income or profits derived therefrom.

Appears in 3 contracts

Samples: Operating Agreement (Eldertrust), Operating Agreement (Eldertrust), Operating Agreement (Eldertrust)

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Other Activities of Members. Any Member may have other business interests or The Members may engage in or possess an interest in other business ventures of any nature or description whatsoevernature, whether currently existing or hereafter created, and may compete, directly not similar to or indirectly, competitive with the business activities of the Company. No The Company shall not have any right, by virtue of this Agreement, to share or participate in such other investments or activities of a Member or Affiliate thereof to the income or proceeds derived from such investments or activities. A Member shall incur any no liability to the Company as a result of such Member's or Affiliate's pursuit of such engaging in any other business interest, ventures and competitive activity, and neither the Company nor the other Members shall have any right to participate in such other business ventures or to receive or share in any income or profits derived therefromventure.

Appears in 1 contract

Samples: Limited Liability Company Agreement (LEAF Equipment Finance Fund 4, L.P.)

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