Common use of OUTSIDE SERVICES; DEALINGS WITH AFFILIATES; OUTSIDE ACTIVITIES Clause in Contracts

OUTSIDE SERVICES; DEALINGS WITH AFFILIATES; OUTSIDE ACTIVITIES. (a) Except as set forth on Schedule 6.2(b)(vi) or with the written approval of the Investing Member (which such approval shall not be unreasonably withheld), the Managing Member shall not (i) enter into any agreement or contract for goods, services or property, or any other transaction, with any Member or any Affiliate of any Member, (ii) cause the Company to pay any compensation, remuneration or other consideration or any kind to any Member or any Affiliate of any Member, (iii) determine the amount of overhead and other reimbursements payable to any Member or any of their Affiliates or modifying, or (iv) amend any such agreement, contract, transaction, compensation, reimbursements or consideration so approved. (b) Any officer, director, employee, agent, trustee, Affiliate, partner, member or shareholder of a Member shall be entitled to and may have business interests and engage in business activities in addition to those relating to the Company, including business interests and activities substantially similar or identical to those of the Company and may compete with the Company. Neither the Company nor any other Member shall have any rights by virtue of this Agreement in any business ventures of such Person.

Appears in 2 contracts

Samples: Limited Liability Company Agreement, Limited Liability Company Agreement (Carter Validus Mission Critical REIT, Inc.)

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OUTSIDE SERVICES; DEALINGS WITH AFFILIATES; OUTSIDE ACTIVITIES. (a) Except as set forth on Schedule 6.2(b)(vi) or with the written approval of the Investing Member Limited Partner (which such approval shall not be unreasonably withheld), the Managing Member General Partner shall not (i) enter into any agreement or contract for goods, services or property, or any other transaction, with any Member Partner or any Affiliate of any MemberPartner, (ii) cause the Company Partnership to pay any compensation, remuneration or other consideration or any kind to any Member Partner or any Affiliate of any MemberPartner, (iii) determine the amount of overhead and other reimbursements payable to any Member Partner or any of their Affiliates or modifying, or (iv) amend any such agreement, contract, transaction, compensation, reimbursements or consideration so approved. (b) Any officer, director, employee, agent, trustee, Affiliate, partner, member or shareholder of a Member Partner shall be entitled to and may have business interests and engage in business activities in addition to those relating to the CompanyPartnership, including business interests and activities substantially similar or identical to those of the Company Partnership and may compete with the CompanyPartnership. Neither the Company Partnership nor any other Member Partner shall have any rights by virtue of this Agreement in any business ventures of such Person.

Appears in 1 contract

Samples: Limited Partnership Agreement (Carter Validus Mission Critical REIT, Inc.)

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