Common use of Rights of Competition Clause in Contracts

Rights of Competition. Each Partner, in its individual capacity or otherwise, and their respective principals and affiliates, shall be free to engage in conduct or participate in any business or activity whatsoever without any accountability, liability, or obligation whatsoever to the Partnership or to any other Partner. Any competing business or activity of a Partner may be undertaken with or without notice to or participation therein by any other Partner. Each Partner and the Partnership hereby waive any right or claim it may have against each other Partner with respect to any competing business or activity or the income or profits therefrom.