Common use of Member Has No Exclusive Duty to Company Clause in Contracts

Member Has No Exclusive Duty to Company. The Member shall not be required to own the Company as its sole and exclusive function and it may have other business interests and may engage in other activities in addition to those relating to the Company. The Company shall not have any right, by virtue of this Agreement, to share or participate in other investments or activities of the Member or in the income or proceeds derived therefrom.

Appears in 4 contracts

Samples: Operating Agreement (APW Supermarkets, Inc.), Operating Agreement (APW Supermarkets, Inc.), Operating Agreement (APW Supermarkets, Inc.)

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Member Has No Exclusive Duty to Company. The Member shall not be required to own manage the Company as its sole and exclusive function and it may have other business interests and may engage in other activities in addition to those relating to the Company. The Company shall not have any right, by virtue of this Agreement, to share or participate in other investments or activities of the Member or in the income or proceeds derived therefrom.

Appears in 3 contracts

Samples: Operating Agreement (Professional Teleconcepts, Inc.), Limited Liability Company Operating Agreement (Professional Teleconcepts, Inc.), Limited Liability Company Operating Agreement (Professional Teleconcepts, Inc.)

Member Has No Exclusive Duty to Company. The Member shall not be required to own the Company as its sole and exclusive function and it may have other business interests and may engage in other activities in addition to those relating to the Company. The Member shall incur no liability to the Company shall not have as a result of engaging in any right, by virtue of this Agreement, to share other business or participate in other investments or activities of the Member or in the income or proceeds derived therefromventure.

Appears in 2 contracts

Samples: Operating Agreement (Century at Murphy Creek, LLC), Operating Agreement (Century at Murphy Creek, LLC)

Member Has No Exclusive Duty to Company. The Member shall not be required to own manage the Company as its the Member’s sole and exclusive function and it the Member may have other business interests and may engage in other activities in addition to those relating to the Company. The Company Member shall not have incur any right, by virtue liability to the Company as a result of this Agreement, to share engaging in any other business or participate in other investments or activities of the Member or in the income or proceeds derived therefromventure.

Appears in 2 contracts

Samples: Operating Agreement (HNS Finance Corp.), Operating Agreement (HNS Finance Corp.)

Member Has No Exclusive Duty to Company. The Member shall not be required to own manage the Company as its sole and exclusive function and and, as provided in Section 1.6, it may have other business interests and may engage in other activities in addition to those relating to the Company. The Company shall not have any right, by virtue of this Agreement, to share or participate in such other investments or activities of the Member or in to the income or proceeds derived therefromfrom such investments or activities. The Member shall incur no liability to the Company as a result of engaging in any other business or venture.

Appears in 2 contracts

Samples: Operating Agreement (Exelon Generation Co LLC), Operating Agreement (Exelon Corp)

Member Has No Exclusive Duty to Company. The Member shall not be required to own manage the Company as its his sole and exclusive function and it may have other business interests and may engage in other activities in addition to those relating to the Company. The Company shall not have any right, by virtue of this Agreement, to share or participate in such other investments or activities of the Member or in to the income or proceeds derived therefrom.from such investments or activities. The Member shall incur no liability to the Company as a result of engaging in any other business or venture. 4.5

Appears in 1 contract

Samples: Operating Agreement of Allegheny (Allegheny Energy Inc)

Member Has No Exclusive Duty to Company. The Member shall will not be required to own manage the Company as its sole and exclusive function and it function. The Member may have other business interests and may engage in other activities in addition to those relating to the Company. The Company shall will not have any right, by virtue of this Agreement, to share or participate in such other investments or activities of the Member or in to the income or proceeds derived therefrom.

Appears in 1 contract

Samples: Operating Agreement (Mobile Mini Finance, LLC)

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Member Has No Exclusive Duty to Company. The Member shall not be required to own the Company as its sole and exclusive function and it may have other business interests and may engage in other activities in addition to those relating to the Company. The Company shall not have any right, by virtue of this Operating Agreement, to share or participate in such other investments or activities of the Member or in to the income or proceeds derived therefrom. The Member shall not incur any liability to the company as a result of engaging in any other business or venture. The Member does not violate a duty or obligation under this Act or under this Operating Agreement merely because such Member’s conduct furthers such Member’s own interest.

Appears in 1 contract

Samples: Operating Agreement (JFC LLC)

Member Has No Exclusive Duty to Company. The Member shall not be required to own the Company as its sole and exclusive function and it may have other business interests and may engage in other activities in addition to those relating to the Company. The Company Jhe Member shall not have incur any right, by virtue liability to the company as a result of engaging in any other business or venture. The Member does not violate a duty or obligation under this Agreement, to share Act or participate in other investments or activities of the Member or in the income or proceeds derived therefromunder this Operating Agreement merely because such Member’s conduct furthers such Member’s own interest.

Appears in 1 contract

Samples: Operating Agreement (JFC LLC)

Member Has No Exclusive Duty to Company. The Member shall not be required to own manage the Company as its sole and exclusive function and and, as provided in SECTION 1.6, it may have other business interests and may engage in other activities in addition to those relating to the Company. The Company shall not have any right, by virtue of this Agreement, to share or participate in such other investments or activities of the Member or in to the income or proceeds derived therefromfrom such investments or activities. The Member shall incur no liability to the Company as a result of engaging in any other business or venture.

Appears in 1 contract

Samples: Operating Agreement (Exelon Generation Co LLC)

Member Has No Exclusive Duty to Company. The Member shall not be required to own manage the Company as its sole and exclusive function and it the Member may have other business interests and may engage in other activities in addition to those relating to the Company. The Company shall not have any right, by virtue of this Agreement, to share or participate in such other investments or activities of the Member or in to the income or proceeds derived therefromfrom such investments or activities. The Member shall incur no liability to the Company as a result of engaging in any other business or venture.

Appears in 1 contract

Samples: Operating Agreement (Atlas America Public #15-2005 Program)

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