Time Devoted to Company; Other Ventures. The LLC Managers shall devote so much of their time to the business of the Company as in their judgment the conduct of the Company’s business reasonably requires. The LLC Managers may engage in business ventures and activities of any nature and description independently or with others, whether or not in competition with the business of such Series of the Company, and shall have no obligation to disclose business opportunities available to them, and neither the Company nor any of the other Members shall have any rights in and to such independent ventures and activities or the income or profits derived therefrom by reason of their ownership of interests in the Series of the Company. To the fullest extent permitted by applicable law, this Section 7.2 is intended to modify any provisions or obligations of the Act to the contrary and each of the Members, the Company and the Series of the Company hereby waives and releases any claims they may have under the Act with respect to any such activities or ventures of the LLC Managers.
Appears in 4 contracts
Samples: Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement (HomeStreet, Inc.), Limited Liability Company Operating Agreement (HomeStreet, Inc.)
