Common use of Other Business Ventures Clause in Contracts

Other Business Ventures. Any Member may engage in, or possess an interest in, other business ventures of every nature and description, independently or with others, whether or not similar or identical to the business of the Company, and neither the Company nor any other Member shall have any right by virtue of this Agreement in or to such other business ventures or to the income or profits derived therefrom. The Member and Representatives shall not be required to devote all of their time or business efforts to the affairs of the Company, but shall devote so much of their time and attention to the Company as is reasonably necessary and advisable to manage the affairs of the Company to the best advantage of the Company. The foregoing shall not supersede any employment, confidentiality, noncompete or other specific agreement that may exist between the Company (or an Affiliate of the Company) and any Member (or an Affiliate of any Member).

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Inergy L P), Limited Liability Company Agreement (Inergy L P)

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Other Business Ventures. Any Member may engage in, or possess an interest in, other business ventures of every nature and description, independently or with others, whether or not similar or identical to the business of the CompanyCompany or the MLP, and neither the Company nor any other Member shall will have any right by virtue of this Agreement in or to such other business ventures or to the income or profits derived therefrom. The Member Members and Representatives shall their representatives are not be required to devote all of their time or business efforts to the affairs of the Company, but shall will devote so much of their time and attention to the Company as is reasonably necessary and advisable to manage the affairs of the Company to the best advantage of the Company. The foregoing shall will not supersede any employment, confidentiality, noncompete noncompetition or other specific agreement that may exist between the Company (or an Affiliate affiliate of the Company) and any Member (or an Affiliate affiliate of any Member).

Appears in 2 contracts

Samples: Limited Liability Company Agreement (QR Energy, LP), Limited Liability Company Agreement (QR Energy, LP)

Other Business Ventures. Any Member may engage in, or possess an interest in, other business ventures of every nature and description, independently or with others, whether or not similar or identical to the business of the CompanyCompany or the MLP, and neither the Company nor any other Member shall will have any right by virtue of this Agreement in or to such other business ventures or to the income or profits derived therefrom. The Member Members and Representatives shall their representatives are not be required to devote all of their time or business efforts to the affairs of the Company, but shall will devote so much of their time and attention to the Company as is reasonably necessary and advisable to manage the affairs of the Company to the best advantage of the Company. The foregoing shall will not supersede any employment, confidentiality, noncompete noncompetition or other specific agreement that may exist between the Company (or an Affiliate of the Company) and any Member (or an Affiliate of any Member).

Appears in 1 contract

Samples: Limited Liability Company Agreement (Central Energy Partners Lp)

Other Business Ventures. Any Member or Manager may engage in, or possess an interest in, other business ventures of any and every nature and description, independently or with others, whether or not similar to or identical to in competition with the business of the Company, and neither the Company nor any other Member the Members shall have any right by virtue of this Agreement in or to such other business ventures or to the income or profits derived therefrom. The Member and Representatives Neither the Members nor the Manager shall not be required to devote all of their time or business efforts to the affairs of the Company, but shall devote so much of their time and attention to the Company as is reasonably necessary and advisable to manage the affairs of the Company to the best advantage of the Company. The foregoing shall not supersede any employment, confidentiality, noncompete or other specific agreement that may exist between the Company (or an Affiliate of the Company) and any Member (or an Affiliate of any Member).

Appears in 1 contract

Samples: Operating Agreement (B&H Contracting, L.P.)

Other Business Ventures. Any Member may engage in, or possess an interest in, other business ventures of every nature and description, independently or with others, whether or not similar or identical to the business of the Company, and neither the Company nor any other Member shall have any right by virtue of this Agreement in or to such other business ventures or to the income or profits derived therefrom. The Member and Representatives representatives shall not be required to devote all of their time or business efforts to the affairs of the Company, but shall devote so much of their time and attention to the Company as is reasonably necessary and advisable to manage the affairs of the Company to the best advantage of the Company. The foregoing shall not supersede any employment, confidentiality, noncompete or other specific agreement that may exist between the Company (or an Affiliate of the Company) and any Member (or an Affiliate of any Member).

Appears in 1 contract

Samples: Limited Liability Company Agreement (Crestwood Equity Partners LP)

Other Business Ventures. Any Member may engage in, or possess an interest in, other business ventures of every nature and description, independently or with others, whether or not similar or identical to the business of the CompanyCompany or Inergy Holdings, and neither the Company nor any other Member shall will have any right by virtue of this Agreement in or to such other business ventures or to the income or profits derived therefrom. The Member Members and Representatives shall their representatives are not be required to devote all of their time or business efforts to the affairs of the Company, but shall will devote so much of their time and attention to the Company as is reasonably necessary and advisable to manage the affairs of the Company to the best advantage of the Company. The foregoing shall will not supersede any employment, confidentiality, noncompete noncompetition or other specific agreement that may exist between the Company (or an Affiliate affiliate of the Company) and any Member (or an Affiliate affiliate of any Member).

Appears in 1 contract

Samples: Limited Liability Company Agreement (Inergy Holdings LLC)

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Other Business Ventures. Any Member or Representative may engage in, or possess an interest in, other business ventures of every nature and description, independently or with others, whether or not similar to or identical to in competition with the business of the Company, and neither the Company nor any other Member shall the Members have any right by virtue of this Agreement in or to such other business ventures or to the income or profits derived therefrom. The Member and Representatives shall not Neither the Members nor any Representative will be required to devote all of their time or business efforts to the affairs of the Company, but shall will devote so much of their time and attention to the Company as is reasonably necessary and advisable to manage the affairs of the Company to the best advantage of the Company. The foregoing shall not supersede any employment, confidentiality, noncompete or other specific agreement that may exist between the Company (or an Affiliate of the Company) and any Member (or an Affiliate of any Member).

Appears in 1 contract

Samples: Operating Agreement (Inergy Pipeline East, LLC)

Other Business Ventures. Any Member or Director may engage in, or possess an interest in, other business ventures of every nature and description, independently or with others, whether or not similar to or identical to in competition with the business of the Company, and neither the Company nor any other Member the Members shall have any right by virtue of this Agreement in or to such other business ventures or to the income or profits derived therefrom. The Member and Representatives Neither the Members nor the Directors shall not be required to devote all of their time or business efforts to the affairs of the Company, but shall devote so much of their time and attention to the Company as is reasonably necessary and advisable to manage the affairs of the Company to the best advantage of the Company. The foregoing shall not supersede any employment, confidentiality, noncompete or other specific agreement that may exist between the Company (or an Affiliate of the Company) and any Member (or an Affiliate of any Member).

Appears in 1 contract

Samples: Operating Agreement (Tortoise Total Return Fund, LLC)

Other Business Ventures. Any Member or Manager may engage in, or possess an interest in, other business ventures of every nature and description, independently or with others, whether or not similar to or identical to in competition with the business of the Company, and neither the Company nor any other Member shall the Members will have any right by virtue of this Agreement in or to such other business ventures or to the income or profits derived therefrom. The Member and Representatives shall not be Neither the Members nor the Managers are required to devote all of their time or business efforts to the affairs of the Company, but shall will devote so much of their time and attention to the Company as is reasonably necessary and advisable to manage the affairs of the Company to the best advantage of the Company. The foregoing shall not supersede any employment, confidentiality, noncompete or other specific agreement that may exist between the Company (or an Affiliate of the Company) and any Member (or an Affiliate of any Member).

Appears in 1 contract

Samples: Limited Liability Company Agreement (Genelux Corp)

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