Common use of Other Activities of the Members Clause in Contracts

Other Activities of the Members. (a) Each of the Members acknowledges that the Members will continue to pursue their separate business opportunities outside of the Company and the Facilities. Each Member is free to pursue all such activities and may engage in or possess an interest in any other business venture or ventures of any nature and description and in any vicinity whatsoever, independently or with others, including, without limitation, the ownership, development, financing, leasing, operation, management, syndication, brokerage, subdivision or sale of real property or senior living facilities and related services, and neither the Company nor any other Member shall have any rights in and to such independent ventures or to income or profits derived therefrom.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (CNL Healthcare Trust, Inc.), Limited Liability Company Agreement (CNL Lifestyle Properties Inc)

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Other Activities of the Members. (a) Each of the Members acknowledges that the Members will continue to pursue their separate business opportunities outside of the Company and the Facilities. Each Member is free to pursue all such activities and may engage in or possess an interest in any other business venture or ventures of any nature and description and in any vicinity whatsoever, independently or with others, including, without limitation, the ownership, development, financing, leasing, operation, management, syndication, brokerage, subdivision or sale of real property or property, senior living facilities and related services, and/or assisted living services and related services, and neither the Company nor any other Member shall have any rights in and to such independent ventures or to income or profits derived therefrom.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (CNL Healthcare Properties, Inc.), Limited Liability Company Agreement (CNL Healthcare Trust, Inc.)

Other Activities of the Members. (a) Each of the Members acknowledges that the Members will continue to pursue their separate business opportunities outside of the Company and the FacilitiesFacility. Each Member is free to pursue all such activities and may engage in or possess an interest in any other business venture or ventures of any nature and description and in any vicinity whatsoever, independently or with others, including, without limitation, the ownership, development, financing, leasing, operation, management, syndication, brokerage, subdivision or sale of real property or senior living property, medical office facilities and related services, and neither the Company nor any other Member shall have any rights in and to such independent ventures or to income or profits derived therefrom.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (CNL Healthcare Properties, Inc.), Limited Liability Company Agreement (CNL Healthcare Properties, Inc.)

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Other Activities of the Members. (a) Each of the Members acknowledges that the Members will continue to pursue their separate business opportunities outside of the Company and the Facilities. Each Except as otherwise provided in Section 3.9 above, each Member is free to pursue all such activities and may engage in or possess an interest in any other business venture or ventures of any nature and description and in any vicinity whatsoever, independently or with others, including, without limitation, the ownership, development, financing, leasing, operation, management, syndication, brokerage, subdivision or sale of real property or senior living facilities property, facility and related services and related services, and neither the Company nor any other Member shall have has any rights in and to such independent ventures or to income or profits derived therefrom.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Summit Healthcare REIT, Inc)

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