LLC Agreement: Business Opportunity Waiver (DE) | Practical Law

LLC Agreement: Business Opportunity Waiver (DE) | Practical Law

A Standard Clause that can be used in a limited liability company (LLC) agreement for a Delaware LLC to clarify that members or managers are not required to present business opportunities that are within the scope of the LLC's business or purpose to the LLC. This Standard Clause has integrated notes with important explanations and drafting and negotiating tips.

LLC Agreement: Business Opportunity Waiver (DE)

Practical Law Standard Clauses w-029-9565 (Approx. 13 pages)

LLC Agreement: Business Opportunity Waiver (DE)

by Practical Law Corporate & Securities
MaintainedDelaware, USA (National/Federal)
A Standard Clause that can be used in a limited liability company (LLC) agreement for a Delaware LLC to clarify that members or managers are not required to present business opportunities that are within the scope of the LLC's business or purpose to the LLC. This Standard Clause has integrated notes with important explanations and drafting and negotiating tips.