Rights and Duties of Members. 14.1 Subject to duties and obligations of the Managing Member, it is expressly understood that each Member may engage in any other business or investment, whether or not in direct competition with the business of the Company, and neither the Company nor any other Member shall have any rights in and to said businesses or investments, or the income or profits derived therefrom.
Appears in 15 contracts
Samples: Operating Agreement (Seidman Lawrence B), Operating Agreement (Seidman Lawrence B), Operating Agreement (Seidman Lawrence B)
Rights and Duties of Members. 14.1 Subject to duties and obligations of the Managing MemberManager, it is expressly understood that each Member may engage in any other business or investment, whether or not in direct competition with the business of the Company, and neither the Company nor any other Member shall have any rights in and to said businesses or investments, or the income or profits derived therefrom.
Appears in 7 contracts
Samples: Operating Agreement (Seidman Lawrence B), Operating Agreement (Seidman Lawrence B), Operating Agreement (Seidman Lawrence B)