Examples of Virginia Act in a sentence
The preceding sentence shall in no way limit any Person's right to rely on information to the extent provided in §13.1-1024.1 of the Virginia Act.
Except as otherwise provided in the Virginia Act, by Applicable Law or expressly in this Agreement, no Member will be obligated personally for any debt, obligation or liability of the Company or of any Company Subsidiaries or other Members, whether arising in contract, tort or otherwise, solely by reason of being a Member.
A duly authorized representative also shall execute, acknowledge and verify such other documents or instruments as may be necessary or appropriate in order to form the Company under the Virginia Act or to continue the existence of the Company in accordance with the provisions of the Virginia Act or to register, qualify to do business or operate its business as a foreign limited liability company in any other state in which the Company conducts business.
The existence of the Company as a separate legal entity shall continue until the cancellation of the Articles of Organization of the Company in accordance with the provisions of the Virginia Act.
Except as otherwise required hereunder or pursuant to any provision of the Virginia Act not permitted to be modified by an operating agreement, the debts, obligations and liabilities of the Company, whether arising in contract, tort or otherwise, shall be solely the debts, obligations and liabilities of the Company, and the Members shall not be obligated personally for any such debt, obligation or liability of the Company solely by reason of being a Member of the Company.
On reasonable notice to the Company, all Members shall have the right at all reasonable times during usual business hours, but no more frequently than once in each six (6) month period, to inspect and make copies of or extracts from the records of the Company required to be maintained under Section 13.1-1028(A) of the Virginia Act.
Each Member hereby waives any and all rights such Member may have to withdraw or resign from the Company pursuant to the Virginia Act or otherwise and hereby waives any and all rights such Member may have to receive the fair value of such Member’s Interest in the Company upon such withdrawal, resignation or retirement pursuant to the Virginia Act.
This Agreement shall be binding upon and inure to the benefit of the parties hereto and their heirs, executors, administrators, successors, legal representatives and assigns permitted in accordance with this Agreement and the Virginia Act.
In connection with the formation of the Company, a duly authorized representative of the Company has caused to be filed with the office of the Virginia State Corporation Commission the duly executed Articles of Organization for the Company in accordance with the Virginia Act.
Notwithstanding any other provision contained in this Agreement, the Company shall not make a distribution of Cash Flow (or other proceeds) to any Member if such distribution would violate any applicable provision of the Virginia Act or other applicable law.