Common use of Other Business of Partners Clause in Contracts

Other Business of Partners. Any Limited Partner may engage independently or with others in other business ventures of every nature and description. Nothing in this Agreement shall be deemed to prohibit any Affiliate of the General Partner from dealing, or otherwise engaging in business with Persons transacting business with the Partnership or from providing services relating to the purchase, sale, financing, management, development, or operation of hotels, motels, restaurants, or other food and lodging facilities and receiving compensation therefor, even if competitive with the business of the Partnership. Neither the Partnership nor any Partner shall have any right by virtue of the relationship created hereby in or to such other ventures or activities or to the income or proceeds derived therefrom, even if competitive with the business of the Partnership. Neither the General Partner nor any Affiliate of the General Partner shall be obligated to present any particular opportunity (other than an opportunity that is within the scope of the purpose of the Partnership specified in Section 2.03) to the Partnership even if such opportunity is of a character which, if presented to the Partnership could be taken by the Partnership, and any Affiliate of the General Partner shall have the right to take for its own account (individually or as a trustee, partner, or fiduciary) or to recommend to others any such particular opportunity.

Other Business of Partners. Any Limited Partner may engage independently or with others in other business ventures of every nature and description. Nothing in this Agreement shall be deemed to prohibit any Affiliate of the General Partner from dealing, or otherwise engaging in business with Persons transacting business with the Partnership or from providing services relating to the purchase, sale, financing, management, development, or operation of hotels, motels, restaurants, or other food and lodging facilities and receiving compensation therefor, even if competitive with the business of the Partnership. Neither the Partnership nor any Partner shall have any right by virtue of this Agreement or the relationship created hereby in or to such other ventures or activities or to the income or proceeds derived therefrom, even if competitive with the business of the Partnership. Neither the General Partner nor any Affiliate of the General Partner shall be obligated to present any particular opportunity (other than an opportunity that is within the scope of the purpose of the Partnership specified in Section 2.03) to the Partnership even if such opportunity is of a character which, if presented to the Partnership could be taken by the Partnership, and any Affiliate of the General Partner shall have the right to take for its own account (individually or as a trustee, partner, or fiduciary) or to recommend to others any such particular opportunity.

Other Business of Partners. Any Limited Partner may engage independently or with others in other business ventures of every nature and description. Nothing in this Agreement shall be deemed to prohibit any Affiliate of the General Partner from dealing, or otherwise engaging in business with Persons transacting business with the Partnership or from providing services relating to the purchase, sale, financing, management, development, development or operation of hotels, motels, restaurants, restaurants or other food and lodging facilities and receiving compensation therefor, even if competitive with the business of the Partnership. Neither the Partnership nor any Partner shall have any right by virtue of this Agreement or the partnership relationship created hereby in or to such other ventures or activities or to the income or proceeds derived therefrom, and the pursuit of such ventures, even if competitive with the business of the Partnership, shall not be deemed wrongful or improper. Neither the General Partner nor any Affiliate of the General Partner shall be obligated to present any particular opportunity (other than an opportunity that is within the scope of the purpose of the Partnership specified in Section 2.03) to the Partnership even if such opportunity is of a character which, if presented to the Partnership could be taken by the Partnership, and any Affiliate of the General Partner shall have the right to take for its own account (individually or as a trustee, partner, partner or fiduciary) or to recommend to others any such particular opportunity.