Duty of Loyalty. The Manager has a duty to refrain from competing with the Company in the conduct of the Company’s business prior to the dissolution of the Company, except that the Members understand and acknowledge that the Manager has other interests in similar properties and companies that may compete for its time and resources, which shall not be considered a violation of this duty.
Appears in 31 contracts
Samples: Limited Liability Company Agreement (Mission First Capital LLC), Amended Operating Agreement (Holiday Lifestyle Fund I), Limited Liabiltiy Company Agreement (Mission First Capital LLC)
Duty of Loyalty. The Manager has a duty to refrain from competing with the Company in the conduct of the Company’s Company business prior to the dissolution of the Company, except that the Members understand and acknowledge that the Manager has other interests in similar properties and companies that may compete for its time and resources, which shall not be considered a violation of this duty.
Appears in 8 contracts
Samples: Subscription Agreement (Gilmore Homes - Gilmore Loans, LLC), Subscription Agreement (Gilmore Homes - Gilmore Loans, LLC), Subscription Agreement (Gilmore Homes - Gilmore Loans, LLC)
Duty of Loyalty. The Manager has a duty to refrain from competing with the Company in the conduct of the Company’s business prior to the dissolution of the Company, except that the Members understand and acknowledge that the Manager has other interests in similar properties investments and companies that may compete for its time and resources, which shall not be considered a violation of this duty.
Appears in 4 contracts
Samples: Operating Agreement (Pf Royalty I LLC), Operating Agreement (Pf Royalty I LLC), Operating Agreement (Pf Royalty I LLC)
