Common use of Commitment of Members Clause in Contracts

Commitment of Members. The Managing Member hereby agrees to --------------------- use its best efforts in connection with the purposes and objectives of the Company and to devote to such purposes and objectives such of its time and resources as shall be necessary for the management of the affairs of the Company. Subject to the other provisions of this Agreement, the Members and any of their respective Affiliates may act as a director, officer, employee or advisor of any corporation, a trustee of any trust, or a partner of any partnership; may receive compensation for its services as an advisor with respect to, or participation in profits derived from, the investments of any such corporation, trust or partnership; and may acquire, invest in, hold and sell securities of any entity. Neither the Company, the Capital Member nor Managing Member shall have by virtue of this Agreement, any right, title or interest in or to such other corporation, trust, partnership, investment or security.

Appears in 2 contracts

Sources: Limited Liability Company Agreement (Cmgi Inc), Limited Liability Company Agreement (Cmgi Inc)

Commitment of Members. The Each of the Managing Member Members hereby agrees to --------------------- use its best efforts in connection with the purposes and objectives of the Company and to devote to such purposes and objectives such of its their time and resources as shall be necessary for the management of the affairs of the Company. Subject to the other provisions of this Agreement, the Members and any of their respective Affiliates may act as a director, officer, employee or advisor of any corporation, a trustee of any trust, or a partner of any partnership; may receive compensation for its services as an advisor with respect to, or participation in profits derived from, the investments of any such corporation, trust or partnership; and may acquire, invest in, hold and sell securities of any entity. Neither the Company, Company nor the Capital Member nor or any Managing Member shall have by virtue of this Agreement, any right, title or interest in or to such other corporation, trust, partnership, investment or security.

Appears in 1 contract

Sources: Operating Agreement (CMG Information Services Inc)