Common use of Other Business Ventures Clause in Contracts

Other Business Ventures. The Member may engage in, or possess an interest in, other business ventures of every nature and description, independently or with others, whether or not similar to or in competition with the business of the Company, and neither the Company nor the Member will have any right by virtue of this Agreement in or to such other business ventures or to the income or profits derived therefrom. The Member is not required to devote all of its time or business efforts to the affairs of the Company, but will devote so much of their time and attention to the Company as is reasonably necessary and advisable to manage the affairs of the Company to the best advantage of the Company.

Appears in 7 contracts

Samples: Limited Liability Company Agreement (Inergy Pipeline East, LLC), Limited Liability Company Agreement (Inergy Pipeline East, LLC), Limited Liability Company Agreement (Inergy Pipeline East, LLC)

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Other Business Ventures. The Member may engage in, or possess an interest in, other business ventures of every nature and description, independently or with others, whether or not similar to or in competition with the business of the Company, and neither the Company nor the Member will shall have any right by virtue of this Agreement in or to such other business ventures or to the income or profits derived therefrom. The Member is shall not be required to devote all of its their time or business efforts to the affairs of the Company, but will shall devote so much of their time and attention to the Company as is reasonably necessary and advisable to manage the affairs of the Company to the best advantage of the Company.

Appears in 4 contracts

Samples: Limited Liability Company Agreement (Inergy Midstream, LLC), Limited Liability Company Agreement (Inergy Pipeline East, LLC), Limited Liability Company Agreement (Inergy Pipeline East, LLC)

Other Business Ventures. The Any Member may engage in, or possess an interest in, other business ventures of every nature and description, independently or with others, whether or not similar or identical to or in competition with the business of the CompanyCompany or ETE, and neither the Company nor the any Member will have any right by virtue of this Agreement in or to such other business ventures or to the income or profits derived therefrom. The Member is Members and their representatives are not required to devote all of its their time or business efforts to the affairs of the Company, but will devote so much of their time and attention to the Company as is reasonably necessary and advisable to manage the affairs of the Company to the best advantage of the Company. The foregoing will not supersede any employment, confidentiality, noncompetition or other specific agreement that may exist between the Company (or an affiliate of the Company) and any Member (or an affiliate of any Member).

Appears in 4 contracts

Samples: Limited Liability Company Agreement (Enterprise GP Holdings L.P.), Limited Liability Company Agreement (Energy Transfer Equity, L.P.), Limited Liability Company Agreement (Energy Transfer Equity, L.P.)

Other Business Ventures. The Any Member may engage in, or possess an interest in, other business ventures of every nature and description, independently or with others, whether or not similar or identical to or in competition with the business of the Company, and neither the Company nor the any other Member will shall have any right by virtue of this Agreement in or to such other business ventures or to the income or profits derived therefrom. The Member is Members and Representatives shall not be required to devote all of its their time or business efforts to the affairs of the Company, but will shall devote so much of their time and attention to the Company as is reasonably necessary and advisable to manage the affairs of the Company to the best advantage of the Company. The foregoing shall not supersede any employment, confidentiality, noncompete or other specific agreement that may exist between the Company (or an Affiliate of the Company) and any Member (or an Affiliate of any Member).

Appears in 3 contracts

Samples: Limited Liability Company Agreement (Inergy L P), Limited Liability Company Agreement (Inergy L P), Limited Liability Company Agreement (Inergy L P)

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Other Business Ventures. The Member may engage in, or possess an interest in, other business ventures of every nature and description, independently or with others, whether or not similar to or in competition with the business of the Company, and neither the Company nor the Member will have any right by virtue of this Agreement in or to such other business ventures or to the income or profits derived therefrom. The Neither the Member is not are required to devote all of its their time or business efforts to the affairs of the Company, but will devote so much of their time and attention to the Company as is reasonably necessary and advisable to manage the affairs of the Company to the best advantage of the Company.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (QualityTech, LP), Limited Liability Company Agreement (QualityTech, LP)

Other Business Ventures. The Any Member or Manager may engage in, or possess an interest in, other business ventures of every nature and description, independently or with others, whether or not similar to or in competition with the business of the Company, and neither the Company nor the Member will Members shall have any right by virtue of this Agreement in or to such other business ventures or to the income or profits derived therefrom. The Member is not Neither the Members nor the Managers acting in such capacity shall be required to devote all of its their time or business efforts to the affairs of the Company, but will shall devote so much of their time and attention to the Company as is reasonably necessary and advisable to manage the affairs of the Company to the best advantage of the Company.

Appears in 1 contract

Samples: Operating Agreement

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