Common use of STATEMENT OF GENERAL POLICY Clause in Contracts

STATEMENT OF GENERAL POLICY. Real and apparent conflicts or dualities of interest sometimes occur in the course of conducting the daily affairs of the Company. A conflict or duality of interest is defined as referring to only personal, proprietary interests of the persons covered by this policy and their immediate families and not to philosophical or professional differences of opinion. Such conflicts or dualities of interest shall occur because the persons associated with the Company should be expected to have, and do in fact generally have, multiple interests and affiliations and various positions of responsibility within the community. Conflicts or dualities of interest shall be avoided because they potentially or apparently place the interests of others ahead of the Company’s obligations to its corporate purposes and to the public interest. Conflicts or dualities of interest are likewise undesirable because they often reflect adversely upon the persons involved and upon the institutions with which they are affiliated regardless of the actual facts or motivations of the parties. However, it is decidedly not in the long-range best interests of the Company to terminate or cease all association with persons who may have real or apparent conflicts or dualities of interest if there is a prescribed and effective method of rendering such conflicts harmless to all concerned. The affirmative policy of the Company, therefore, shall be not to preclude all dealings with those having actual or apparent conflicts or dualities of interest but to require that they be disclosed promptly and fully to all necessary parties whenever they occur, and to prohibit, as required, specified involvement by such parties in certain dealings of the Company.

STATEMENT OF GENERAL POLICY. Real and apparent conflicts or dualities of interest sometimes occur in the course of conducting the daily affairs of the Company. A conflict or duality of interest is defined as referring to only personal, proprietary interests of the persons covered by this policy and their immediate families and not to philosophical or professional differences of opinion. Such conflicts or dualities of interest shall occur because the persons associated with the Company should be expected to have, and do in fact generally have, multiple interests and affiliations and various positions of responsibility within the community. Conflicts or dualities of interest shall be avoided because they potentially or apparently place the interests of others ahead of the Company’s obligations to its corporate purposes and to the public interest. Conflicts or dualities of interest are likewise undesirable because they often reflect adversely upon the persons involved and upon the institutions with which they are affiliated regardless of the actual facts or motivations of the parties. However, it is decidedly not in the long-range best interests of the Company to terminate or cease all association with persons who may have real or apparent conflicts or dualities of interest if there is a prescribed and effective method of rendering such conflicts harmless to all concerned. The affirmative policy of the Company, therefore, shall be not to preclude all dealings with those having actual or apparent conflicts or dualities of interest but to require that they be disclosed promptly and fully to all necessary parties whenever they occur, and to prohibit, as required, specified involvement by such parties in certain dealings of the Company. The Board of Managers will adopt a specific conflict of interest policy, based on this statement of general policy.

STATEMENT OF GENERAL POLICY. Real and apparent conflicts or dualities of interest sometimes occur in the course of conducting the daily affairs of the Company. A conflict or duality of interest is defined as referring to only personal, proprietary interests of the persons covered by this policy and their immediate families and not to philosophical or professional differences of opinion. Such conflicts or dualities of interest shall occur because the persons associated with the Company should be expected to have, and do in fact generally have, multiple interests and affiliations and various positions of responsibility within the community. Conflicts or dualities of interest shall be avoided because they potentially or apparently place the interests of others ahead of the Company’s obligations to its corporate purposes and to the public interest. Conflicts or dualities of interest are likewise undesirable because they often reflect adversely upon the persons involved and upon the institutions with which they are affiliated regardless of the actual facts or motivations of the parties. However, it is decidedly not in the long-range best interests of the Company to terminate or cease all association with persons who may have real or apparent conflicts or dualities of interest if there is a prescribed and effective method of rendering such conflicts harmless to all concerned. The affirmative policy of the Company, therefore, shall be not to preclude all dealings with those having actual or apparent conflicts or dualities of interest but to require that they be disclosed promptly and fully to all necessary parties whenever they occur, and to prohibit, as required, specified involvement by such parties in certain dealings of the Company.Company.‌