Other Business of Partners. Any Partner may engage independently or with others in other business ventures wholly unrelated to the Partnership business of every nature and description, including, without limitation, the acquisition, development, construction, operation and management of real estate projects and developments of every type on their own behalf or on behalf of other partnerships, joint ventures, corporations or other business ventures formed by them or in which they may have an interest, including, without limitation, business ventures similar to, related to or in direct or indirect competition with the Apartment Housing. Neither the Partnership nor any Partner shall have any right by virtue of this Agreement or the partnership relationship created hereby in or to such other ventures or activities or to the income or proceeds derived therefrom. Conversely, no Person shall have any rights to Partnership assets, incomes or proceeds by virtue of such other ventures or activities of any Partner.
Other Business of Partners. Any Partner may engage independently or with others in other business ventures wholly unrelated to the Partnership business of every nature and description, including, without limitation, the acquisition, development, construction, operation and management of real estate projects and developments of every type on their own behalf or on behalf of other partnerships, joint ventures, corporations or other business ventures formed by them or in which they may have an interest, including, without limitation, business ventures similar to, related to or in direct or indirect competition with the Project except if prohibited under a non-competition agreement. Neither the Partnership nor any Partner shall have any right by virtue of this Agreement or the partnership relationship created hereby in or to such other ventures or activities or to the income or proceeds derived therefrom. Conversely, no Person shall have any rights to Partnership assets, incomes or proceeds by virtue of such other ventures or activities of any Partner.
Other Business of Partners. Except as otherwise specifically provided herein, any of the Partners and any shareholder, officer, director, employee or other person holding a legal or beneficial interest in an entity which is a Partner may engage in or possess an interest in other business ventures of every nature and description, independently or with others, including, but not limited to, the ownership, financing, leasing, operation, management, syndication, brokerage and development of real property and neither the Partnership nor the Partners shall have any right by virtue of this Agreement in and to such independent ventures or to the income or profits derived therefrom.
Other Business of Partners. Any Partner may engage independently or with others in other business ventures, or make or manage other investments, without the necessity of informing the Partnership or the other Partners. Neither the Partnership nor any Partner shall have any rights in or to such other ventures or activities or to the income or proceeds derived therefrom. The pursuit of such ventures, even if competitive with the business of the Partnership, shall not be deemed wrongful or improper.
Other Business of Partners. Any Limited Partner may engage independently or with others in other business ventures of every nature and description. Nothing in this Agreement shall be deemed to prohibit any Affiliate of the General Partner from dealing, or otherwise engaging in business with Persons transacting business with the Partnership or from providing services relating to the purchase, sale, financing, management, development, or operation of hotels, motels, restaurants, or other food and lodging facilities and receiving compensation therefor, even if competitive with the business of the Partnership. Neither the Partnership nor any Partner shall have any right by virtue of the relationship created hereby in or to such other ventures or activities or to the income or proceeds derived therefrom, even if competitive with the business of the Partnership. Neither the General Partner nor any Affiliate of the General Partner shall be obligated to present any particular opportunity (other than an opportunity that is within the scope of the purpose of the Partnership specified in Section 2.03) to the Partnership even if such opportunity is of a character which, if presented to the Partnership could be taken by the Partnership, and any Affiliate of the General Partner shall have the right to take for its own account (individually or as a trustee, partner, or fiduciary) or to recommend to others any such particular opportunity.
Other Business of Partners. (a) Subject to (b) below, any Partner may engage independently or with others in other business ventures of every nature and description, including without limitation the purchase of medical equipment, the rendering of medical services of any kind, and the making or management of other investments and neither the Partnership nor any Partner shall have any right by virtue of this Agreement or the relationship created hereby in or to such other ventures or activities or to the income or proceeds derived therefrom, and the pursuit of such ventures.
(b) Except as specifically provided in this Section 5.9, as long as any Partner owns a Partnership Interest in the Partnership, and for a period of five (5) years after a Partner ceases for any reason to own a Partnership Interest in the Partnership, neither a Partner, Investor Entity, Owner, Practice nor any of their respective Affiliates, shall hold, directly or indirectly, an investment, ownership or other beneficial interest in (x) any hospital, or (y) any other Entity (including a sole proprietorship) which provides any of the following services or facilities: cardiac catheterization, angioplasty, peripheral angioplasty, atherectomy, stenting and PTCA or other cardiac surgical procedures or services (collectively, the "Services"), in any case within a fifty (50) mile radius of the Hospital or in the cities of Fredericksburg and Kerrville, Texas (collectively, the "Territory"). Notwithstanding the terms of this Section 5.9(b):
(i) No Partner or Owner who is a physician shall be prohibited from maintaining his or her staff privileges and admitting and treating patients at any other hospital, nor from performing and receiving professional fees for interventional cardiac catheterization at any other hospital;
(ii) Nothing herein shall prohibit a Partner, Owner, Practice or their Affiliates from owning up to three percent (3%) of the outstanding capital stock of a company whose stock is publicly traded and listed on a nationally recognized securities exchange or from investing in a publicly traded mutual fund or making other investments with the prior written approval of the General Partner;
(iii) Nothing herein shall prevent the Investor Limited Partner, an Owner or a Practice from operating a cardiac catheterization laboratory in the MOB located on the Hospital's campus; provided, however, that, among the Investor Limited Partner, the Owners and the Practices, there may only be a total of two (2) cardiac catheter...
Other Business of Partners. 5.7.1. The General Partner shall devote to the affairs of the Partnership such time as may be necessary for the proper performance of its duties hereunder, but neither the General Partner, its officers and directors, nor any successors to such parties shall be expected to devote their full time to the performance of such duties.
5.7.2. Any Partner or any of his Affiliates may engage independently or with others in other business ventures of every nature and description, including, without limitation, the rendering of advice or services to other investors and the making or management of other investments, including investments in real properties receiving Government Assistance. Neither the Partnership nor any Partner shall have any rights by virtue of this Agreement or the partnership relationship created hereby in or to such other ventures or activities or to the income or proceeds derived therefrom, provided that nothing in this Section 5.7.2 shall relieve the General Partner of its general fiduciary obligation to the Partnership.
5.7.3. The Sponsor may be presented with an investment opportunity which could be availed of by the Partnership and one or more other entities which the Sponsor or one of its Affiliates manages. The decision as to the particular entity which shall make the investment shall be based upon such factors as the effect of the acquisition on diversification of each entity's portfolio, the estimated income tax effects of the purchase on each entity, the amount of funds of each entity available for investment and the length of time such funds have been available for investment. If a particular investment is determined to be suitable for more than one entity, priority generally shall be given to the entity having uninvested funds for the longest period of time; except that an entity which was formed to invest primarily in apartment complexes eligible for state low income housing credits as well as the Low Income Housing Credit shall be given priority over the Partnership and other entities which are not seeking to provide such state tax credits with respect to any investment which is eligible for such state tax credits.
Other Business of Partners. Any Partner and any Affiliate of any Partner may engage in or possess any interest in other business ventures of any kind, nature or description, independently or with others, whether such ventures are competitive with the Partnership or otherwise. Neither the Partnership nor any Partners shall have any rights or obligations by virtue of this Agreement or the partnership relationship created hereby in or to such independent ventures or the income or profits or losses derived therefrom, and the pursuit of such ventures, even if competitive with the business of the Partnership, shall not be deemed wrongful or improper. Neither the General Partners nor any Affiliate of the General Partners shall be obligated to present any particular investment opportunity to the Partnership, except with respect to opportunities that are suitable for the Partnership, which must first be made available to the Partnership before any of the General Partners invest, and the General Partners and their Affiliates shall each have the right to take for their own account (individually or as a trustee, partner, or fiduciary) or to recommend to others any such particular investment opportunity. The Managing General Partners hereby consent and agree promptly to furnish the Individual General Partners, upon request, with information on a confidential basis as to any venture capital investments made by them, or any of their Affiliates, for their own account or for others.
Other Business of Partners. (a) The Partners, their Affiliates, and the shareholders, officers, directors, partners and employees of any Partner or Affiliate may have interests in businesses other than the Partnership business. Neither the Partnership nor any Partner shall have a right to the income or proceeds derived by any Partner or Affiliate from such other business interests, and even if they are competitive with the Partnership business, such business interests shall not be deemed wrongful or improper.
(b) Neither the General Partner nor any of its Affiliates shall be obligated to present any particular investment opportunity to the Partnership even if such opportunity is of a character which, if presented to the Partnership, could be taken by the Partnership, and the General Partner shall have the right to take for its own account or to recommend to others any such particular investment opportunity.
Other Business of Partners. Nothing contained in this Agreement shall be construed or shall operate to limit any Partner from directly or indirectly engaging, independently or with others in any business which is or may be competitive with the business of the Partnership. Each of the Partners, including the General Partner , and Affiliated Persons shall be free to engage in any business whatsoever, including any business within the purposes of the Partnership, and neither the Partnership nor any Partner shall have any right by virtue of this Agreement or the partnership relationship created hereby in such other business or to the income or proceeds derived therefrom. Nothing in this Agreement shall be deemed to prohibit any Partner or any Affiliate of a Partner from dealing or otherwise engaging in business with the Partnership or with Persons transacting business with the Partnership, or from providing services relating to the purchase, sale, financing, management, development or operation of any venture or activity of any nature whatsoever. Neither the Partners nor any Affiliated Person of a Partner shall be obligated to present any particular business opportunity to the Partnership, even if such opportunity is of a character which could be taken by the Partnership.
