Outside Businesses. Except as otherwise provided in any employment agreement or other agreement any Member, Director, Officer, Manager or Affiliate thereof may engage in or possess an interest in other business ventures of any nature or description, independently or with others, similar or dissimilar to the business of the Company, and the Company, the Members, Directors, Officers and Managers shall have no rights by virtue of this Agreement in and to such independent ventures or the income or profits derived therefrom, and the pursuit of any such venture, even if competitive with the business of the Company, shall not be deemed wrongful or improper. Except as otherwise provided in any employment agreement or other agreement, no Member, Director, Officer, Manager or Affiliate thereof shall be obligated to present any particular investment opportunity to the Company even if such opportunity is of a character that, if presented to the Company, could be taken by the Company, and any Member, Director, Officer, Manager or Affiliate thereof shall have the right to take for its own account (individually or as a partner or fiduciary) or to recommend to others any such particular investment opportunity.
Appears in 5 contracts
Samples: Limited Liability Company Agreement (Wells Fargo Student Loans Receivables I LLC), Limited Liability Company Agreement (Wells Fargo Student Loans Receivables I LLC), Limited Liability Company Agreement (Wells Fargo Student Loans Receivables I LLC)
Outside Businesses. Except as otherwise provided in any employment agreement or other agreement any Member, Director, Officer, Manager or Affiliate thereof may engage in or possess an interest in other business ventures of any nature or description, independently or with others, similar or dissimilar to the business of the Company, and the Company, the Members, Directors, and Officers and Managers shall have no rights by virtue of this Agreement in and to such independent ventures or the income or profits derived therefrom, and the pursuit of any such venture, even if competitive with the business of the Company, shall not be deemed wrongful or improper. Except as otherwise provided in any employment agreement or other agreement, no Member, Director, Officer, Manager or Affiliate thereof shall be obligated to present any particular investment opportunity to the Company even if such opportunity is of a character that, if presented to the Company, could be taken by the Company, and any Member, Director, Officer, Manager or Affiliate thereof shall have the right to take for its own account (individually or as a partner or fiduciary) or to recommend to others any such particular investment opportunity.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Wells Fargo Finance LLC), Limited Liability Company Agreement (Wells Fargo Finance LLC)
Outside Businesses. Except as Notwithstanding any duty otherwise provided existing at law or in equity, any employment agreement or other agreement any Member, Director, Officer, Manager Shareholder or Affiliate thereof may engage in or possess an interest in other business ventures of any nature or description, independently or with others, similar or dissimilar to the business of the Company, and neither the Company, the Members, Directors, Officers and Managers Company nor any Shareholder shall have no any rights by virtue of this Agreement in and to such independent ventures or the income or profits derived therefrom, and the pursuit of any such venture, even if competitive with the business of the Company, shall not be deemed wrongful or improper. Except as Notwithstanding any duty otherwise provided existing at law or in any employment agreement or other agreementequity, no Member, Director, Officer, Manager Shareholder or Affiliate thereof shall be obligated to present any particular investment opportunity to the Company even if such opportunity is of a character that, if presented to the Company, could be taken by the Company, and any Member, Director, Officer, Manager Shareholder or Affiliate thereof shall have the right to take for its own account (individually or as a partner or fiduciary) or to recommend to others any such particular investment opportunity.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Thirty Eight Hundred Fund LLC)
Outside Businesses. Except as otherwise provided in any employment agreement or other agreement Section 16.1 hereof, any Member, DirectorMember Manager, Officer, Manager Officer or Affiliate thereof may engage in or possess an interest in other business ventures of any nature or description, independently or with others, similar or dissimilar to the business of the CompanyCompany or any of its Subsidiaries, and the Company, the Members, Directors, the Member Managers and the Officers and Managers shall have no rights by virtue of this Agreement in and to such independent ventures or the income or profits Profits derived therefrom, and the pursuit of any such venture, even if competitive with the business of the Company, shall not be deemed wrongful or improper. Except as otherwise provided in any employment agreement or other agreementSection 16.1 hereof, no Member, DirectorMember Manager, Officer, Manager Officer or Affiliate thereof shall be obligated to present any particular investment opportunity to the Company even if such opportunity is of a character that, if presented to the Company, could be taken by the Company, and any Member, DirectorMember Manager, Officer, Manager Officer or Affiliate thereof shall have the right to take for its own account (individually or as a partner or fiduciary) or to recommend to others any such particular investment opportunity.
Appears in 1 contract
Samples: Limited Liability Company Agreement (MBW Foods Inc)
Outside Businesses. Except as Notwithstanding any duty otherwise provided existing at law or in any employment agreement or other agreement equity, any Member, Director, Officer, Manager or Affiliate thereof may engage in or possess an interest in other business ventures of any nature or description, independently or with others, similar or dissimilar to the business of the Company, and the Company, Company and the Members, Directors, Officers and Managers Members shall have no rights by virtue of this Agreement in and to such independent ventures or the income or profits derived therefrom, and the pursuit of any such venture, even if competitive with the business of the Company, shall not be deemed wrongful or improper. Except as Notwithstanding any duty otherwise provided existing at law or in any employment agreement or other agreementequity, no Member, Director, Officer, Manager or Affiliate thereof shall be obligated to present any particular investment opportunity to the Company even if such opportunity is of a character that, if presented to the Company, could be taken by the Company, and any Member, Director, Officer, Manager Member or Affiliate thereof shall have the right to take for its own account (individually or as a partner or fiduciary) or to recommend to others any such particular investment opportunity.
Appears in 1 contract
Samples: Limited Liability Company Agreement (MAAX Holding Co.)