Common use of Management of the Company Clause in Contracts

Management of the Company. The Company's business and affairs shall be conducted and managed by the Member(s) in accordance with this Agreement and the laws of the State of the Formation. Single-Member (Applies ONLY if Single-Member): The Member(s) of the Company has sole authority and power to act for or on behalf of the Company, to do any act that would be binding on the Company or incur any expenditures on behalf of the Company. The Member(s) shall not be liable for the debts, obligations, or liabilities of the Company, including under a judgment, decree, or order of a court. The Company is organized as a “member-managed” limited liability company. The Member(s) is designated as the initial managing Member(s). Multi-Member (Applies ONLY if Multi-Member): Except as expressly provided elsewhere in this Agreement, all decisions respecting the management, operation, and control of the business and affairs of the Company and all determinations made in accordance with this Agreement shall be made by the affirmative vote or consent of Member(s) holding a majority of the Members’ Percentage Interests. Notwithstanding any other provision of this Agreement, the Member shall not, without the prior written consent of the unanimous vote or consent of the Member(s), sell, exchange, lease, assign or otherwise transfer all or substantially all of the assets of the Company; sell, exchange, lease (other than space leases in the ordinary course of business), assign or transfer the Company’s assets; mortgage, pledge or encumber the Company’s assets other than is expressly authorized by this Agreement; prepay, refinance, modify, extend or consolidate any existing mortgages or encumbrances; borrow money on behalf of the Company; lend any Company funds or other assets to any person or entity; establish any reserves for working capital repairs, replacements, improvements or any other purpose; confess a judgment against the Company; settle, compromise or release, discharge or pay any claim, demand or debt, including claims for insurance; approve a merger or consolidation of the Company with or into any other limited liability company, corporation, partnership or other entity; or change the nature or character of the business of the Company. The Member(s) shall receive such sums for compensation as Member(s) of the Company as may be determined from time to time by the affirmative vote or consent of Member(s) holding a majority of the Member(s)’ Percentage Interests.

Appears in 37 contracts

Samples: Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement

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Management of the Company. The Company's business and affairs of the Company shall be conducted and managed by the Member(s) in accordance with this Agreement and the laws of the State of the Formation. Single(Check One) ☐ - SINGLE-Member (Applies ONLY if Single-Member): The Member(s) MEMBER: , as sole member of the Company Company, has sole authority and power to act for or on behalf of the Company, to do any act that would be binding on the Company Company, or incur any expenditures on behalf of the Company. The Member(s) Member shall not be liable for the debts, obligations, obligations or liabilities of the Company, including under a judgment, decree, decree or order of a court. The Company is organized as a “member-managed” limited liability company. The Member(s) Member is designated as the initial managing Member(s)member. Multi☐ - MULTI-Member (Applies ONLY if Multi-Member): MEMBER: Except as expressly provided elsewhere in this Agreement, all decisions respecting the management, operation, operation and control of the business and affairs of the Company and all determinations made in accordance with this Agreement shall be made by the affirmative vote or consent of Member(s) Members holding a majority of the Members’ Percentage Interests. Notwithstanding any other provision of this Agreement, the Member Members shall not, without the prior written consent of the unanimous vote or consent of the Member(s)Members, sell, exchange, lease, 5 assign or otherwise transfer all or substantially all of the assets of the Company; sell, exchange, lease (other than space leases in the ordinary course of business), assign or transfer the Company’s assets; mortgage, pledge or encumber the Company’s assets other than is expressly authorized by this Agreement; prepay, refinance, modify, extend or consolidate any existing mortgages or encumbrances; borrow money on behalf of the CompanyCompany in the excess of $ .00; lend any Company funds or other assets to any person in an amount or entitywith a value in excess of $ .00; establish any reserves for working capital repairs, replacements, improvements or any other purpose, in excess of an aggregate of $ .00; confess a judgment against the Company; settle, compromise or release, discharge or pay any claim, demand or debtdebt in excess of $ .00, including claims for insurance; approve a merger or consolidation of the Company with or into any other limited liability company, corporation, partnership or other entity; or change the nature or character of the business of the Company. The Member(s) members shall receive such sums for compensation as Member(s) Members of the Company as may be determined from time to time by the affirmative vote or consent of Member(s) Members holding a majority of the Member(s)Members’ Percentage Interests.. (Check if Applicable)

Appears in 24 contracts

Samples: Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement

Management of the Company. The Company's business and affairs of the Company shall be conducted and managed by the Member(s) in accordance with this Agreement and the laws of the State of the Formation. Single(Check One) - SINGLE-Member (Applies ONLY if Single-Member): The Member(s) MEMBER: __________________, as sole member of the Company Company, has sole authority and power to act for or on behalf of the Company, to do any act that would be binding on the Company Company, or incur any expenditures on behalf of the Company. The Member(s) Member shall not be liable for the debts, obligations, obligations or liabilities of the Company, including under a judgment, decree, decree or order of a court. The Company is organized as a “member-managed” limited liability company. The Member(s) Member is designated as the initial managing Member(s)member. Multi- MULTI-Member (Applies ONLY if Multi-Member): MEMBER: Except as expressly provided elsewhere in this Agreement, all decisions respecting the management, operation, operation and control of the business and affairs of the Company and all determinations made in accordance with this Agreement shall be made by the affirmative vote or consent of Member(s) Members holding a majority of the Members’ Percentage Interests. Notwithstanding any other provision of this Agreement, the Member Members shall not, without the prior written consent of the unanimous vote or consent of the Member(s)Members, sell, exchange, lease, 5 assign or otherwise transfer all or substantially all of the assets of the Company; sell, exchange, lease (other than space leases in the ordinary course of business), assign or transfer the Company’s assets; mortgage, pledge or encumber the Company’s assets other than is expressly authorized by this Agreement; prepay, refinance, modify, extend or consolidate any existing mortgages or encumbrances; borrow money on behalf of the CompanyCompany in the excess of $___________________.00; lend any Company funds or other assets to any person in an amount or entitywith a value in excess of $___________________.00; establish any reserves for working capital repairs, replacements, improvements or any other purpose, in excess of an aggregate of $___________________.00; confess a judgment against the Company; settle, compromise or release, discharge or pay any claim, demand or debtdebt in excess of $___________________.00, including claims for insurance; approve a merger or consolidation of the Company with or into any other limited liability company, corporation, partnership or other entity; or change the nature or character of the business of the Company. The Member(s) members shall receive such sums for compensation as Member(s) Members of the Company as may be determined from time to time by the affirmative vote or consent of Member(s) Members holding a majority of the Member(s)Members’ Percentage Interests.. (Check if Applicable)

Appears in 7 contracts

Samples: Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement

Management of the Company. The Company's business and affairs shall be conducted and managed by the Member(s) in accordance with this Agreement and the laws of the State of the FormationFormation State. Single-Member (Applies ONLY if Single-Member): The Member(s) of the Company has sole authority and power to act for or on behalf of the Company, to do any act that would be binding on the Company or incur any expenditures on behalf of the Company. The Member(s) shall not be liable for the debts, obligations, or liabilities of the Company, including under a judgment, decree, or order of a court. The Company is organized as a “member-managed” limited liability company. The Member(s) is designated as the initial managing Member(s). Multi-Member (Applies ONLY if Multi-Member): Except as expressly provided elsewhere in this Agreement, all decisions respecting the management, operation, and control of the business and affairs of the Company and all determinations made in accordance with this Agreement shall be made by the affirmative vote or consent of Member(s) holding a majority of the Members’ Percentage Interests. Notwithstanding any other provision of this Agreement, the Member shall not, without the prior written consent of the unanimous vote or consent of the Member(s), sell, exchange, lease, assign or otherwise transfer all or substantially all of the assets of the Company; sell, exchange, lease (other than space leases in the ordinary course of business), assign or transfer the Company’s assets; mortgage, pledge or encumber the Company’s assets other than is expressly authorized by this Agreement; prepay, refinance, modify, extend or consolidate any existing mortgages or encumbrances; borrow money on behalf of the Company; lend any Company funds or other assets to any person or entity; establish any reserves for working capital repairs, replacements, improvements or any other purpose; confess a judgment against the Company; settle, compromise or release, discharge or pay any claim, demand or debt, including claims for insurance; approve a merger or consolidation of the Company with or into any other limited liability company, corporation, partnership or other entity; or change the nature or character of the business of the Company. The Member(s) shall receive such sums for compensation as Member(s) of the Company as may be determined from time to time by the affirmative vote or consent of Member(s) holding a majority of the Member(s)’ Percentage Interests.

Appears in 4 contracts

Samples: Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement

Management of the Company. The Company's business and affairs of the Company shall be conducted and managed by the Member(s) in accordance with this Agreement and the laws of the State of the FormationKentucky. Single(Check One) ☐ - SINGLE-Member (Applies ONLY if Single-Member): The Member(s) MEMBER: , as sole member of the Company Company, has sole authority and power to act for or on behalf of the Company, to do any act that would be binding on the Company Company, or incur any expenditures on behalf of the Company. The Member(s) Member shall not be liable for the debts, obligations, obligations or liabilities of the Company, including under a judgment, decree, decree or order of a court. The Company is organized as a “member-managed” limited liability company. The Member(s) Member is designated as the initial managing Member(s)member. Multi☐ - MULTI-Member (Applies ONLY if Multi-Member): MEMBER: Except as expressly provided elsewhere in this Agreement, all decisions respecting the management, operation, operation and control of the business and affairs of the Company and all determinations made in accordance with this Agreement shall be made by the affirmative vote or consent of Member(s) Members holding a majority of the Members’ Percentage Interests. Notwithstanding any other provision of this Agreement, the Member Members shall not, without the prior written consent of the unanimous vote or consent of the Member(s)Members, sell, exchange, lease, assign or otherwise transfer all or substantially all of the assets of the Company; sell, exchange, lease (other than space leases in the ordinary course of business), assign or transfer the Company’s assets; mortgage, pledge or encumber the Company’s assets other than is expressly authorized by this Agreement; prepay, refinance, modify, extend or consolidate any existing mortgages or encumbrances; borrow money on behalf of the CompanyCompany in the excess of $ .00; lend any Company funds or other assets to any person in an amount or entitywith a value in excess of $ .00; establish any reserves for working capital repairs, replacements, improvements or any other purpose, in excess of an aggregate of $ .00; confess a judgment against the Company; settle, compromise or release, discharge or pay any claim, demand or debtdebt in excess of $ .00, including claims for insurance; approve a merger or consolidation of the Company with or into any other limited liability company, corporation, partnership or other entity; or change the nature or character of the business of the Company. The Member(s) members shall receive such sums for compensation as Member(s) Members of the Company as may be determined from time to time by the affirmative vote or consent of Member(s) Members holding a majority of the Member(s)Members’ Percentage Interests.. (Check if Applicable)

Appears in 3 contracts

Samples: Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement

Management of the Company. The Company's business and affairs of the Company shall be conducted and managed by the Member(s) in accordance with this Agreement and the laws of the State of the FormationNew York. Single(Check One) ☐ - SINGLE-Member (Applies ONLY if Single-Member): The Member(s) MEMBER: , as sole member of the Company Company, has sole authority and power to act for or on behalf of the Company, to do any act that would be binding on the Company Company, or incur any expenditures on behalf of the Company. The Member(s) Member shall not be liable for the debts, obligations, obligations or liabilities of the Company, including under a judgment, decree, decree or order of a court. The Company is organized as a “member-managed” limited liability company. The Member(s) Member is designated as the initial managing Member(s)member. Multi☐ - MULTI-Member (Applies ONLY if Multi-Member): MEMBER: Except as expressly provided elsewhere in this Agreement, all decisions respecting the management, operation, operation and control of the business and affairs of the Company and all determinations made in accordance with this Agreement shall be made by the affirmative vote or consent of Member(s) Members holding a majority of the Members’ Percentage Interests. Notwithstanding any other provision of this Agreement, the Member Members shall not, without the prior written consent of the unanimous vote or consent of the Member(s)Members, sell, exchange, lease, assign or otherwise transfer all or substantially all of the assets of the Company; sell, exchange, lease (other than space leases in the ordinary course of business), assign or transfer the Company’s assets; mortgage, pledge or encumber the Company’s assets other than is expressly authorized by this Agreement; prepay, refinance, modify, extend or consolidate any existing mortgages or encumbrances; borrow money on behalf of the CompanyCompany in the excess of $ .00; lend any Company funds or other assets to any person in an amount or entitywith a value in excess of $ .00; establish any reserves for working capital repairs, replacements, improvements or any other purpose, in excess of an aggregate of $ .00; confess a judgment against the Company; settle, compromise or release, discharge or pay any claim, demand or debtdebt in excess of $ .00, including claims for insurance; approve a merger or consolidation of the Company with or into any other limited liability company, corporation, partnership or other entity; or change the nature or character of the business of the Company. The Member(s) members shall receive such sums for compensation as Member(s) Members of the Company as may be determined from time to time by the affirmative vote or consent of Member(s) Members holding a majority of the Member(s)Members’ Percentage Interests.. (Check if Applicable)

Appears in 3 contracts

Samples: Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement

Management of the Company. The Company's business and affairs of the Company shall be conducted and managed by the Member(s) in accordance with this Agreement and the laws of the State of the FormationFlorida. Single(Check One) ☐ - SINGLE-Member (Applies ONLY if Single-Member): The Member(s) MEMBER: , as sole member of the Company Company, has sole authority and power to act for or on behalf of the Company, to do any act that would be binding on the Company Company, or incur any expenditures on behalf of the Company. The Member(s) Member shall not be liable for the debts, obligations, obligations or liabilities of the Company, including under a judgment, decree, decree or order of a court. The Company is organized as a “member-managed” limited liability company. The Member(s) Member is designated as the initial managing Member(s)member. Multi☐ - MULTI-Member (Applies ONLY if Multi-Member): MEMBER: Except as expressly provided elsewhere in this Agreement, all decisions respecting the management, operation, operation and control of the business and affairs of the Company and all determinations made in accordance with this Agreement shall be made by the affirmative vote or consent of Member(s) Members holding a majority of the Members’ Percentage Interests. Notwithstanding any other provision of this Agreement, the Member Members shall not, without the prior written consent of the unanimous vote or consent of the Member(s)Members, sell, exchange, lease, assign or otherwise transfer all or substantially all of the assets of the Company; sell, exchange, lease (other than space leases in the ordinary course of business), assign or transfer the Company’s assets; mortgage, pledge or encumber the Company’s assets other than is expressly authorized by this Agreement; prepay, refinance, modify, extend or consolidate any existing mortgages or encumbrances; borrow money on behalf of the CompanyCompany in the excess of $ .00; lend any Company funds or other assets to any person in an amount or entitywith a value in excess of $ .00; establish any reserves for working capital repairs, replacements, improvements or any other purpose, in excess of an aggregate of $ .00; confess a judgment against the Company; settle, compromise or release, discharge or pay any claim, demand or debtdebt in excess of $ .00, including claims for insurance; approve a merger or consolidation of the Company with or into any other limited liability company, corporation, partnership or other entity; or change the nature or character of the business of the Company. The Member(s) members shall receive such sums for compensation as Member(s) Members of the Company as may be determined from time to time by the affirmative vote or consent of Member(s) Members holding a majority of the Member(s)Members’ Percentage Interests.. (Check if Applicable)

Appears in 3 contracts

Samples: Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement

Management of the Company. The Company's business and affairs of the Company shall be conducted and managed by the Member(s) in accordance with this Agreement and the laws of the State of the FormationGeorgia. Single(Check One) ☐ - SINGLE-Member (Applies ONLY if Single-Member): The Member(s) MEMBER: , as sole member of the Company Company, has sole authority and power to act for or on behalf of the Company, to do any act that would be binding on the Company Company, or incur any expenditures on behalf of the Company. The Member(s) Member shall not be liable for the debts, obligations, obligations or liabilities of the Company, including under a judgment, decree, decree or order of a court. The Company is organized as a “member-managed” limited liability company. The Member(s) Member is designated as the initial managing Member(s)member. Multi☐ - MULTI-Member (Applies ONLY if Multi-Member): MEMBER: Except as expressly provided elsewhere in this Agreement, all decisions respecting the management, operation, operation and control of the business and affairs of the Company and all determinations made in accordance with this Agreement shall be made by the affirmative vote or consent of Member(s) Members holding a majority of the Members’ Percentage Interests. Notwithstanding any other provision of this Agreement, the Member Members shall not, without the prior written consent of the unanimous vote or consent of the Member(s)Members, sell, exchange, lease, assign or otherwise transfer all or substantially all of the assets of the Company; sell, exchange, lease (other than space leases in the ordinary course of business), assign or transfer the Company’s assets; mortgage, pledge or encumber the Company’s assets other than is expressly authorized by this Agreement; prepay, refinance, modify, extend or consolidate any existing mortgages or encumbrances; borrow money on behalf of the CompanyCompany in the excess of $ .00; lend any Company funds or other assets to any person in an amount or entitywith a value in excess of $ .00; establish any reserves for working capital repairs, replacements, improvements or any other purpose, in excess of an aggregate of $ .00; confess a judgment against the Company; settle, compromise or release, discharge or pay any claim, demand or debtdebt in excess of $ .00, including claims for insurance; approve a merger or consolidation of the Company with or into any other limited liability company, corporation, partnership or other entity; or change the nature or character of the business of the Company. The Member(s) members shall receive such sums for compensation as Member(s) Members of the Company as may be determined from time to time by the affirmative vote or consent of Member(s) Members holding a majority of the Member(s)Members’ Percentage Interests.. (Check if Applicable)

Appears in 3 contracts

Samples: Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement

Management of the Company. The Company's business and affairs of the Company shall be conducted and managed by the Member(s) in accordance with this Agreement and the laws of the State of the FormationHawaii. Single(Check One) ☐ - SINGLE-Member (Applies ONLY if Single-Member): The Member(s) MEMBER: , as sole member of the Company Company, has sole authority and power to act for or on behalf of the Company, to do any act that would be binding on the Company Company, or incur any expenditures on behalf of the Company. The Member(s) Member shall not be liable for the debts, obligations, obligations or liabilities of the Company, including under a judgment, decree, decree or order of a court. The Company is organized as a “member-managed” limited liability company. The Member(s) Member is designated as the initial managing Member(s)member. Multi☐ - MULTI-Member (Applies ONLY if Multi-Member): MEMBER: Except as expressly provided elsewhere in this Agreement, all decisions respecting the management, operation, operation and control of the business and affairs of the Company and all determinations made in accordance with this Agreement shall be made by the affirmative vote or consent of Member(s) Members holding a majority of the Members’ Percentage Interests. Notwithstanding any other provision of this Agreement, the Member Members shall not, without the prior written consent of the unanimous vote or consent of the Member(s)Members, sell, exchange, lease, assign or otherwise transfer all or substantially all of the assets of the Company; sell, exchange, lease (other than space leases in the ordinary course of business), assign or transfer the Company’s assets; mortgage, pledge or encumber the Company’s assets other than is expressly authorized by this Agreement; prepay, refinance, modify, extend or consolidate any existing mortgages or encumbrances; borrow money on behalf of the CompanyCompany in the excess of $ .00; lend any Company funds or other assets to any person in an amount or entitywith a value in excess of $ .00; establish any reserves for working capital repairs, replacements, improvements or any other purpose, in excess of an aggregate of $ .00; confess a judgment against the Company; settle, compromise or release, discharge or pay any claim, demand or debtdebt in excess of $ .00, including claims for insurance; approve a merger or consolidation of the Company with or into any other limited liability company, corporation, partnership or other entity; or change the nature or character of the business of the Company. The Member(s) members shall receive such sums for compensation as Member(s) Members of the Company as may be determined from time to time by the affirmative vote or consent of Member(s) Members holding a majority of the Member(s)Members’ Percentage Interests.. (Check if Applicable)

Appears in 3 contracts

Samples: Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement

Management of the Company. The Company's business and affairs of the Company shall be conducted and managed by the Member(s) in accordance with this Agreement and the laws of the State of the FormationConnecticut. Single(Check One) ☐ - SINGLE-Member (Applies ONLY if Single-Member): The Member(s) MEMBER: , as sole member of the Company Company, has sole authority and power to act for or on behalf of the Company, to do any act that would be binding on the Company Company, or incur any expenditures on behalf of the Company. The Member(s) Member shall not be liable for the debts, obligations, obligations or liabilities of the Company, including under a judgment, decree, decree or order of a court. The Company is organized as a “member-managed” limited liability company. The Member(s) Member is designated as the initial managing Member(s)member. Multi☐ - MULTI-Member (Applies ONLY if Multi-Member): MEMBER: Except as expressly provided elsewhere in this Agreement, all decisions respecting the management, operation, operation and control of the business and affairs of the Company and all determinations made in accordance with this Agreement shall be made by the affirmative vote or consent of Member(s) Members holding a majority of the Members’ Percentage Interests. Notwithstanding any other provision of this Agreement, the Member Members shall not, without the prior written consent of the unanimous vote or consent of the Member(s)Members, sell, exchange, lease, assign or otherwise transfer all or substantially all of the assets of the Company; sell, exchange, lease (other than space leases in the ordinary course of business), assign or transfer the Company’s assets; mortgage, pledge or encumber the Company’s assets other than is expressly authorized by this Agreement; prepay, refinance, modify, extend or consolidate any existing mortgages or encumbrances; borrow money on behalf of the CompanyCompany in the excess of $ .00; lend any Company funds or other assets to any person in an amount or entitywith a value in excess of $ .00; establish any reserves for working capital repairs, replacements, improvements or any other purpose, in excess of an aggregate of $ .00; confess a judgment against the Company; settle, compromise or release, discharge or pay any claim, demand or debtdebt in excess of $ .00, including claims for insurance; approve a merger or consolidation of the Company with or into any other limited liability company, corporation, partnership or other entity; or change the nature or character of the business of the Company. The Member(s) members shall receive such sums for compensation as Member(s) Members of the Company as may be determined from time to time by the affirmative vote or consent of Member(s) Members holding a majority of the Member(s)Members’ Percentage Interests.. (Check if Applicable)

Appears in 3 contracts

Samples: Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement

Management of the Company. The Company's business and affairs of the Company shall be conducted and managed by the Member(s) in accordance with this Agreement and the laws of the State of the FormationIllinois. Single(Check One) ☐ - SINGLE-Member (Applies ONLY if Single-Member): The Member(s) MEMBER: , as sole member of the Company Company, has sole authority and power to act for or on behalf of the Company, to do any act that would be binding on the Company Company, or incur any expenditures on behalf of the Company. The Member(s) Member shall not be liable for the debts, obligations, obligations or liabilities of the Company, including under a judgment, decree, decree or order of a court. The Company is organized as a “member-managed” limited liability company. The Member(s) Member is designated as the initial managing Member(s)member. Multi☐ - MULTI-Member (Applies ONLY if Multi-Member): MEMBER: Except as expressly provided elsewhere in this Agreement, all decisions respecting the management, operation, operation and control of the business and affairs of the Company and all determinations made in accordance with this Agreement shall be made by the affirmative vote or consent of Member(s) Members holding a majority of the Members’ Percentage Interests. Notwithstanding any other provision of this Agreement, the Member Members shall not, without the prior written consent of the unanimous vote or consent of the Member(s)Members, sell, exchange, lease, assign or otherwise transfer all or substantially all of the assets of the Company; sell, exchange, lease (other than space leases in the ordinary course of business), assign or transfer the Company’s assets; mortgage, pledge or encumber the Company’s assets other than is expressly authorized by this Agreement; prepay, refinance, modify, extend or consolidate any existing mortgages or encumbrances; borrow money on behalf of the CompanyCompany in the excess of $ .00; lend any Company funds or other assets to any person in an amount or entitywith a value in excess of $ .00; establish any reserves for working capital repairs, replacements, improvements or any other purpose, in excess of an aggregate of $ .00; confess a judgment against the Company; settle, compromise or release, discharge or pay any claim, demand or debtdebt in excess of $ .00, including claims for insurance; approve a merger or consolidation of the Company with or into any other limited liability company, corporation, partnership or other entity; or change the nature or character of the business of the Company. The Member(s) members shall receive such sums for compensation as Member(s) Members of the Company as may be determined from time to time by the affirmative vote or consent of Member(s) Members holding a majority of the Member(s)Members’ Percentage Interests.. (Check if Applicable)

Appears in 3 contracts

Samples: Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement

Management of the Company. The Company's business and affairs of the Company shall be conducted and managed by the Member(s) in accordance with this Agreement and the laws of the State of the FormationColorado. Single(Check One) ☐ - SINGLE-Member (Applies ONLY if Single-Member): The Member(s) MEMBER: , as sole member of the Company Company, has sole authority and power to act for or on behalf of the Company, to do any act that would be binding on the Company Company, or incur any expenditures on behalf of the Company. The Member(s) Member shall not be liable for the debts, obligations, obligations or liabilities of the Company, including under a judgment, decree, decree or order of a court. The Company is organized as a “member-managed” limited liability company. The Member(s) Member is designated as the initial managing Member(s)member. Multi☐ - MULTI-Member (Applies ONLY if Multi-Member): MEMBER: Except as expressly provided elsewhere in this Agreement, all decisions respecting the management, operation, operation and control of the business and affairs of the Company and all determinations made in accordance with this Agreement shall be made by the affirmative vote or consent of Member(s) Members holding a majority of the Members’ Percentage Interests. Notwithstanding any other provision of this Agreement, the Member Members shall not, without the prior written consent of the unanimous vote or consent of the Member(s)Members, sell, exchange, lease, assign or otherwise transfer all or substantially all of the assets of the Company; sell, exchange, lease (other than space leases in the ordinary course of business), assign or transfer the Company’s assets; mortgage, pledge or encumber the Company’s assets other than is expressly authorized by this Agreement; prepay, refinance, modify, extend or consolidate any existing mortgages or encumbrances; borrow money on behalf of the CompanyCompany in the excess of $ .00; lend any Company funds or other assets to any person in an amount or entitywith a value in excess of $ .00; establish any reserves for working capital repairs, replacements, improvements or any other purpose, in excess of an aggregate of $ .00; confess a judgment against the Company; settle, compromise or release, discharge or pay any claim, demand or debtdebt in excess of $ .00, including claims for insurance; approve a merger or consolidation of the Company with or into any other limited liability company, corporation, partnership or other entity; or change the nature or character of the business of the Company. The Member(s) members shall receive such sums for compensation as Member(s) Members of the Company as may be determined from time to time by the affirmative vote or consent of Member(s) Members holding a majority of the Member(s)Members’ Percentage Interests.. (Check if Applicable)

Appears in 3 contracts

Samples: Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement

Management of the Company. The Company's business and affairs shall be conducted and managed by the Member(s) in accordance with this Agreement and the laws of the State of the Formation. Single-Member (Applies ONLY if Single-Member): The Member(s) of the Company has sole authority and power to act for or on behalf of the Company, to do any act that would be binding on the Company or incur any expenditures on behalf of the Company. The Member(s) shall not be liable for the debts, obligations, or liabilities of the Company, including under a judgment, decree, or order of a court. The Company is organized as a “member-managed” limited liability company. The Member(s) is designated as the initial managing Member(s). Multi-Member (Applies ONLY if Multi-Member): Except as expressly provided elsewhere in this Agreement, all decisions respecting the management, operation, and control of the business and affairs of the Company and all determinations made in accordance with this Agreement shall be made by the affirmative vote or consent of Member(s) holding a majority of the Members’ Percentage Interests. Notwithstanding any other provision of this Agreement, the Member shall not, without the prior written consent of the unanimous vote or consent of the Member(s), sell, exchange, lease, assign or otherwise transfer all or substantially all of the assets of the Company; sell, exchange, lease (other than space leases in the ordinary course of business), assign or transfer the Company’s assets; mortgage, pledge or encumber the Company’s assets other than is expressly authorized by this Agreement; prepay, refinance, modify, extend or consolidate any existing mortgages or encumbrances; borrow money on behalf of the Company; lend any Company funds or other assets to any person or entity; establish any reserves for working capital repairs, replacements, improvements or any other purpose; confess a judgment against the Company; settle, compromise or release, discharge or pay any claim, demand or debt, including claims for insurance; approve a merger or consolidation of the Company with or into any other limited liability company, corporation, partnership or other entity; or change the nature or character of the business of the Company. The Member(s) shall receive such sums for compensation as Member(s) of the Company as may be determined from time to time by the affirmative vote or consent of Member(s) holding a majority of the Member(s)’ Percentage Interests.

Appears in 3 contracts

Samples: Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement

Management of the Company. The Company's business and affairs of the Company shall be conducted and managed by the Member(s) in accordance with this Agreement and the laws of the State of the FormationIowa. Single(Check One) ☐ - SINGLE-Member (Applies ONLY if Single-Member): The Member(s) MEMBER: , as sole member of the Company Company, has sole authority and power to act for or on behalf of the Company, to do any act that would be binding on the Company Company, or incur any expenditures on behalf of the Company. The Member(s) Member shall not be liable for the debts, obligations, obligations or liabilities of the Company, including under a judgment, decree, decree or order of a court. The Company is organized as a “member-managed” limited liability company. The Member(s) Member is designated as the initial managing Member(s)member. Multi☐ - MULTI-Member (Applies ONLY if Multi-Member): MEMBER: Except as expressly provided elsewhere in this Agreement, all decisions respecting the management, operation, operation and control of the business and affairs of the Company and all determinations made in accordance with this Agreement shall be made by the affirmative vote or consent of Member(s) Members holding a majority of the Members’ Percentage Interests. Notwithstanding any other provision of this Agreement, the Member Members shall not, without the prior written consent of the unanimous vote or consent of the Member(s)Members, sell, exchange, lease, assign or otherwise transfer all or substantially all of the assets of the Company; sell, exchange, lease (other than space leases in the ordinary course of business), assign or transfer the Company’s assets; mortgage, pledge or encumber the Company’s assets other than is expressly authorized by this Agreement; prepay, refinance, modify, extend or consolidate any existing mortgages or encumbrances; borrow money on behalf of the CompanyCompany in the excess of $ .00; lend any Company funds or other assets to any person in an amount or entitywith a value in excess of $ .00; establish any reserves for working capital repairs, replacements, improvements or any other purpose, in excess of an aggregate of $ .00; confess a judgment against the Company; settle, compromise or release, discharge or pay any claim, demand or debtdebt in excess of $ .00, including claims for insurance; approve a merger or consolidation of the Company with or into any other limited liability company, corporation, partnership or other entity; or change the nature or character of the business of the Company. The Member(s) members shall receive such sums for compensation as Member(s) Members of the Company as may be determined from time to time by the affirmative vote or consent of Member(s) Members holding a majority of the Member(s)Members’ Percentage Interests.. (Check if Applicable)

Appears in 2 contracts

Samples: Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement

Management of the Company. The Company's business and affairs of the Company shall be conducted and managed by the Member(s) in accordance with this Agreement and the laws of the State of the FormationCalifornia. Single(Check One) ☐ - SINGLE-Member (Applies ONLY if Single-Member): The Member(s) MEMBER: , as sole member of the Company Company, has sole authority and power to act for or on behalf of the Company, to do any act that would be binding on the Company Company, or incur any expenditures on behalf of the Company. The Member(s) Member shall not be liable for the debts, obligations, obligations or liabilities of the Company, including under a judgment, decree, decree or order of a court. The Company is organized as a “member-managed” limited liability company. The Member(s) Member is designated as the initial managing Member(s)member. Multi☐ - MULTI-Member (Applies ONLY if Multi-Member): MEMBER: Except as expressly provided elsewhere in this Agreement, all decisions respecting the management, operation, operation and control of the business and affairs of the Company and all determinations made in accordance with this Agreement shall be made by the affirmative vote or consent of Member(s) Members holding a majority of the Members’ Percentage Interests. Notwithstanding any other provision of this Agreement, the Member Members shall not, without the prior written consent of the unanimous vote or consent of the Member(s)Members, sell, exchange, lease, assign or otherwise transfer all or substantially all of the assets of the Company; sell, exchange, lease (other than space leases in the ordinary course of business), assign or transfer the Company’s assets; mortgage, pledge or encumber the Company’s assets other than is expressly authorized by this Agreement; prepay, refinance, modify, extend or consolidate any existing mortgages or encumbrances; borrow money on behalf of the CompanyCompany in the excess of $ .00; lend any Company funds or other assets to any person in an amount or entitywith a value in excess of $ .00; establish any reserves for working capital repairs, replacements, improvements or any other purpose, in excess of an aggregate of $ .00; confess a judgment against the Company; settle, compromise or release, discharge or pay any claim, demand or debtdebt in excess of $ .00, including claims for insurance; approve a merger or consolidation of the Company with or into any other limited liability company, corporation, partnership or other entity; or change the nature or character of the business of the Company. The Member(s) members shall receive such sums for compensation as Member(s) Members of the Company as may be determined from time to time by the affirmative vote or consent of Member(s) Members holding a majority of the Member(s)Members’ Percentage Interests.. (Check if Applicable)

Appears in 2 contracts

Samples: Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement

Management of the Company. The Company's business and affairs of the Company shall be conducted and managed by the Member(s) in accordance with this Agreement and the laws of the State of the FormationTennessee. Single(Check One) ☐ - SINGLE-Member (Applies ONLY if Single-Member): The Member(s) MEMBER: , as sole member of the Company Company, has sole authority and power to act for or on behalf of the Company, to do any act that would be binding on the Company Company, or incur any expenditures on behalf of the Company. The Member(s) Member shall not be liable for the debts, obligations, obligations or liabilities of the Company, including under a judgment, decree, decree or order of a court. The Company is organized as a “member-managed” limited liability company. The Member(s) Member is designated as the initial managing Member(s)member. Multi☐ - MULTI-Member (Applies ONLY if Multi-Member): MEMBER: Except as expressly provided elsewhere in this Agreement, all decisions respecting the management, operation, operation and control of the business and affairs of the Company and all determinations made in accordance with this Agreement shall be made by the affirmative vote or consent of Member(s) Members holding a majority of the Members’ Percentage Interests. Notwithstanding any other provision of this Agreement, the Member Members shall not, without the prior written consent of the unanimous vote or consent of the Member(s)Members, sell, exchange, lease, assign or otherwise transfer all or substantially all of the assets of the Company; sell, exchange, lease (other than space leases in the ordinary course of business), assign or transfer the Company’s assets; mortgage, pledge or encumber the Company’s assets other than is expressly authorized by this Agreement; prepay, refinance, modify, extend or consolidate any existing mortgages or encumbrances; borrow money on behalf of the CompanyCompany in the excess of $ .00; lend any Company funds or other assets to any person in an amount or entitywith a value in excess of $ .00; establish any reserves for working capital repairs, replacements, improvements or any other purpose, in excess of an aggregate of $ .00; confess a judgment against the Company; settle, compromise or release, discharge or pay any claim, demand or debtdebt in excess of $ .00, including claims for insurance; approve a merger or consolidation of the Company with or into any other limited liability company, corporation, partnership or other entity; or change the nature or character of the business of the Company. The Member(s) members shall receive such sums for compensation as Member(s) Members of the Company as may be determined from time to time by the affirmative vote or consent of Member(s) Members holding a majority of the Member(s)Members’ Percentage Interests.. (Check if Applicable)

Appears in 2 contracts

Samples: Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement

Management of the Company. The Company's business and affairs of the Company shall be conducted and managed by the Member(s) in accordance with this Agreement and the laws of the State of the FormationMissouri. Single(Check One) ☐ - SINGLE-Member (Applies ONLY if Single-Member): The Member(s) MEMBER: , as sole member of the Company Company, has sole authority and power to act for or on behalf of the Company, to do any act that would be binding on the Company Company, or incur any expenditures on behalf of the Company. The Member(s) Member shall not be liable for the debts, obligations, obligations or liabilities of the Company, including under a judgment, decree, decree or order of a court. The Company is organized as a “member-managed” limited liability company. The Member(s) Member is designated as the initial managing Member(s)member. Multi☐ - MULTI-Member (Applies ONLY if Multi-Member): MEMBER: Except as expressly provided elsewhere in this Agreement, all decisions respecting the management, operation, operation and control of the business and affairs of the Company and all determinations made in accordance with this Agreement shall be made by the affirmative vote or consent of Member(s) Members holding a majority of the Members’ Percentage Interests. Notwithstanding any other provision of this Agreement, the Member Members shall not, without the prior written consent of the unanimous vote or consent of the Member(s)Members, sell, exchange, lease, assign or otherwise transfer all or substantially all of the assets of the Company; sell, exchange, lease (other than space leases in the ordinary course of business), assign or transfer the Company’s assets; mortgage, pledge or encumber the Company’s assets other than is expressly authorized by this Agreement; prepay, refinance, modify, extend or consolidate any existing mortgages or encumbrances; borrow money on behalf of the CompanyCompany in the excess of $ .00; lend any Company funds or other assets to any person in an amount or entitywith a value in excess of $ .00; establish any reserves for working capital repairs, replacements, improvements or any other purpose, in excess of an aggregate of $ .00; confess a judgment against the Company; settle, compromise or release, discharge or pay any claim, demand or debtdebt in excess of $ .00, including claims for insurance; approve a merger or consolidation of the Company with or into any other limited liability company, corporation, partnership or other entity; or change the nature or character of the business of the Company. The Member(s) members shall receive such sums for compensation as Member(s) Members of the Company as may be determined from time to time by the affirmative vote or consent of Member(s) Members holding a majority of the Member(s)Members’ Percentage Interests.. (Check if Applicable)

Appears in 2 contracts

Samples: Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement

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Management of the Company. The Company's business and affairs of the Company shall be conducted and managed by the Member(s) in accordance with this Agreement and the laws of the State of the FormationAlaska. Single(Check One) ☐ - SINGLE-Member (Applies ONLY if Single-Member): The Member(s) MEMBER: , as sole member of the Company Company, has sole authority and power to act for or on behalf of the Company, to do any act that would be binding on the Company Company, or incur any expenditures on behalf of the Company. The Member(s) Member shall not be liable for the debts, obligations, obligations or liabilities of the Company, including under a judgment, decree, decree or order of a court. The Company is organized as a “member-managed” limited liability company. The Member(s) Member is designated as the initial managing Member(s)member. Multi☐ - MULTI-Member (Applies ONLY if Multi-Member): MEMBER: Except as expressly provided elsewhere in this Agreement, all decisions respecting the management, operation, operation and control of the business and affairs of the Company and all determinations made in accordance with this Agreement shall be made by the affirmative vote or consent of Member(s) Members holding a majority of the Members’ Percentage Interests. Notwithstanding any other provision of this Agreement, the Member Members shall not, without the prior written consent of the unanimous vote or consent of the Member(s)Members, sell, exchange, lease, assign or otherwise transfer all or substantially all of the assets of the Company; sell, exchange, lease (other than space leases in the ordinary course of business), assign or transfer the Company’s assets; mortgage, pledge or encumber the Company’s assets other than is expressly authorized by this Agreement; prepay, refinance, modify, extend or consolidate any existing mortgages or encumbrances; borrow money on behalf of the CompanyCompany in the excess of $ .00; lend any Company funds or other assets to any person in an amount or entitywith a value in excess of $ .00; establish any reserves for working capital repairs, replacements, improvements or any other purpose, in excess of an aggregate of $ .00; confess a judgment against the Company; settle, compromise or release, discharge or pay any claim, demand or debtdebt in excess of $ .00, including claims for insurance; approve a merger or consolidation of the Company with or into any other limited liability company, corporation, partnership or other entity; or change the nature or character of the business of the Company. The Member(s) members shall receive such sums for compensation as Member(s) Members of the Company as may be determined from time to time by the affirmative vote or consent of Member(s) Members holding a majority of the Member(s)Members’ Percentage Interests.. (Check if Applicable)

Appears in 2 contracts

Samples: Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement

Management of the Company. The Company's business and affairs of the Company shall be conducted and managed by the Member(s) in accordance with this Agreement and the laws of the State of the FormationArkansas. Single(Check One) ☐ - SINGLE-Member (Applies ONLY if Single-Member): The Member(s) MEMBER: __________________, as sole member of the Company Company, has sole authority and power to act for or on behalf of the Company, to do any act that would be binding on the Company Company, or incur any expenditures on behalf of the Company. The Member(s) Member shall not be liable for the debts, obligations, obligations or liabilities of the Company, including under a judgment, decree, decree or order of a court. The Company is organized as a “member-managed” limited liability company. The Member(s) Member is designated as the initial managing Member(s)member. Multi☐ - MULTI-Member (Applies ONLY if Multi-Member): MEMBER: Except as expressly provided elsewhere in this Agreement, all decisions respecting the management, operation, operation and control of the business and affairs of the Company and all determinations made in accordance with this Agreement shall be made by the affirmative vote or consent of Member(s) Members holding a majority of the Members’ Percentage Interests. Notwithstanding any other provision of this Agreement, the Member Members shall not, without the prior written consent of the unanimous vote or consent of the Member(s)Members, sell, exchange, lease, assign or otherwise transfer all or substantially all of the assets of the Company; sell, exchange, lease (other than space leases in the ordinary course of business), assign or transfer the Company’s assets; mortgage, pledge or encumber the Company’s assets other than is expressly authorized by this Agreement; prepay, refinance, modify, extend or consolidate any existing mortgages or encumbrances; borrow money on behalf of the CompanyCompany in the excess of $___________________.00; lend any Company funds or other assets to any person in an amount or entitywith a value in excess of $___________________.00; establish any reserves for working capital repairs, replacements, improvements or any other purpose, in excess of an aggregate of $___________________.00; confess a judgment against the Company; settle, compromise or release, discharge or pay any claim, demand or debtdebt in excess of $___________________.00, including claims for insurance; approve a merger or consolidation of the Company with or into any other limited liability company, corporation, partnership or other entity; or change the nature or character of the business of the Company. The Member(s) members shall receive such sums for compensation as Member(s) Members of the Company as may be determined from time to time by the affirmative vote or consent of Member(s) Members holding a majority of the Member(s)Members’ Percentage Interests.. (Check if Applicable)

Appears in 2 contracts

Samples: Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement

Management of the Company. The Company's business and affairs of the Company shall be conducted and managed by the Member(s) in accordance with this Agreement and the laws of the State of the FormationFlorida . Single(CHECK ONE) ☒ - SINGLE-Member (Applies ONLY if Single-Member): The Member(s) MEMBER: Xxx Xxxxx as sole member of the Company Company, has sole authority and power to act for or on behalf of the Company, to do any act that would be binding on the Company Company, or incur any expenditures on behalf of the Company. The Member(s) Member shall not be liable for the debts, obligations, obligations or liabilities of the Company, including under a judgment, decree, decree or order of a court. The Company is organized as a “member-managed” limited liability company. The Member(s) Member is designated as the initial managing Member(s)member. Multi- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - OR - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - ☐ - MULTI-Member (Applies ONLY if Multi-Member): MEMBER: Except as expressly provided elsewhere in this Agreement, all decisions respecting the management, operation, operation and control of the business and affairs of the Company and all determinations made in accordance with this Agreement shall be made by the affirmative vote or consent of Member(s) Members holding a majority of the Members’ Percentage Interests. Notwithstanding any other provision of this Agreement, the Member Members shall not, without the prior written consent of the unanimous vote or consent of the Member(s)Members, sell, exchange, lease, assign or otherwise transfer all or substantially all of the assets of the Company; sell, exchange, lease (other than space leases in the ordinary course of business), assign or transfer the Company’s assets; mortgage, pledge or encumber the Company’s assets other than is expressly authorized by this Agreement; prepay, refinance, modify, extend or consolidate any existing mortgages or encumbrances; borrow money on behalf of the CompanyCompany in the excess of $ ; lend any Company funds or other assets to any person in an amount or entitywith a value in excess of $ ; establish any reserves for working capital repairs, replacements, improvements or any other purpose, in excess of an aggregate of $ ; confess a judgment against the Company; settle, compromise or release, discharge or pay any claim, demand or debtdebt in excess of $ , including claims for insurance; approve a merger or consolidation of the Company with or into any other limited liability company, corporation, partnership or other entity; or change the nature or character of the business of the Company. The Member(s) members shall receive such sums for compensation as Member(s) Members of the Company as may be determined from time to time by the affirmative vote or consent of Member(s) Members holding a majority of the Member(s)Members’ Percentage Interests.. (CHECK IF APPLICABLE)

Appears in 2 contracts

Samples: Limited Liability Company Operating Agreement, esign.com

Management of the Company. The Company's business and affairs shall be conducted and managed by the Member(s) in accordance with this Agreement and the laws of the State state of the FormationGeorgia. Single-Member (Applies ONLY if Single-Member): The Member(s) Member of the Company has sole authority and power to act for or on behalf of the Company, to do any act that would be binding on the Company or incur any expenditures on behalf of the Company. The Member(s) Member shall not be liable for the debts, obligations, or liabilities of the Company, including under a judgment, decree, or order of a court. The Company is organized as a “member-managed” limited liability company. The Member(s) Member is designated as the initial managing Member(s)Member. Multi-Member (Applies ONLY if Multi-Member): Except as expressly provided elsewhere in this Agreement, all decisions respecting the management, operation, and control of the business and affairs of the Company and all determinations made in accordance with this Agreement shall be made by the affirmative vote or consent of Member(s) holding a majority of the Members’ Percentage Interests. Notwithstanding any other provision of this Agreement, the Member Members shall not, without the prior written consent of the unanimous vote or consent of the Member(s)Members, sell, exchange, lease, assign or otherwise transfer all or substantially all of the assets of the Company; sell, exchange, lease (other than space leases in the ordinary course of business), assign or transfer the Company’s assets; mortgage, pledge or encumber the Company’s assets other than that which is expressly authorized by this Agreement; prepay, refinance, modify, extend or consolidate any existing mortgages or encumbrances; borrow money on behalf of the Company; lend any Company funds or other assets to any person or entity; establish any reserves for working capital repairs, replacements, improvements improvements, or any other purpose; confess a judgment against the Company; settle, compromise or compromise, release, discharge discharge, or pay any claim, demand or debt, including claims for insurance; approve a merger or consolidation of the Company with or into any other limited liability company, corporation, partnership or other entity; or change the nature or character of the business of the Company. The Member(s) Members shall receive such sums for compensation as Member(s) Members of the Company as may be determined from time to time by the affirmative vote or consent of Member(s) Members holding a majority of the Member(s)Members’ Percentage Interests.

Appears in 1 contract

Samples: Limited Liability Company Operating Agreement

Management of the Company. The Company's business and affairs shall be conducted and managed by the Member(s) in accordance with this Agreement and the laws of the State state of the FormationMichigan. Single-Member (Applies ONLY if Single-Member): The Member(s) Member of the Company has sole authority and power to act for or on behalf of the Company, to do any act that would be binding on the Company or incur any expenditures on behalf of the Company. The Member(s) Member shall not be liable for the debts, obligations, or liabilities of the Company, including under a judgment, decree, or order of a court. The Company is organized as a “member-managed” limited liability company. The Member(s) Member is designated as the initial managing Member(s)Member. Multi-Member (Applies ONLY if Multi-Member): Except as expressly provided elsewhere in this Agreement, all decisions respecting the management, operation, and control of the business and affairs of the Company and all determinations made in accordance with this Agreement shall be made by the affirmative vote or consent of Member(s) holding a majority of the Members’ Percentage Interests. Notwithstanding any other provision of this Agreement, the Member Members shall not, without the prior written consent of the unanimous vote or consent of the Member(s)Members, sell, exchange, lease, assign or otherwise transfer all or substantially all of the assets of the Company; sell, exchange, lease (other than space leases in the ordinary course of business), assign or transfer the Company’s assets; mortgage, pledge or encumber the Company’s assets other than that which is expressly authorized by this Agreement; prepay, refinance, modify, extend or consolidate any existing mortgages or encumbrances; borrow money on behalf of the Company; lend any Company funds or other assets to any person or entity; establish any reserves for working capital repairs, replacements, improvements improvements, or any other purpose; confess a judgment against the Company; settle, compromise or compromise, release, discharge discharge, or pay any claim, demand or debt, including claims for insurance; approve a merger or consolidation of the Company with or into any other limited liability company, corporation, partnership or other entity; or change the nature or character of the business of the Company. The Member(s) Members shall receive such sums for compensation as Member(s) Members of the Company as may be determined from time to time by the affirmative vote or consent of Member(s) Members holding a majority of the Member(s)Members’ Percentage Interests.

Appears in 1 contract

Samples: Limited Liability Company Operating Agreement

Management of the Company. The Company's business and affairs of the Company shall be conducted and managed by the Member(s) in accordance with this Agreement and the laws of the State of the FormationConnecticut. Single(Check One) ☐ - SINGLE-Member (Applies ONLY if Single-Member): The Member(s) MEMBER: __________________, as sole member of the Company Company, has sole authority and power to act for or on behalf of the Company, to do any act that would be binding on the Company Company, or incur any expenditures on behalf of the Company. The Member(s) Member shall not be liable for the debts, obligations, obligations or liabilities of the Company, including under a judgment, decree, decree or order of a court. The Company is organized as a “member-managed” limited liability company. The Member(s) Member is designated as the initial managing Member(s)member. Multi☐ - MULTI-Member (Applies ONLY if Multi-Member): MEMBER: Except as expressly provided elsewhere in this Agreement, all decisions respecting the management, operation, operation and control of the business and affairs of the Company and all determinations made in accordance with this Agreement shall be made by the affirmative vote or consent of Member(s) Members holding a majority of the Members’ Percentage Interests. Notwithstanding any other provision of this Agreement, the Member Members shall not, without the prior written consent of the unanimous vote or consent of the Member(s)Members, sell, exchange, lease, assign or otherwise transfer all or substantially all of the assets of the Company; sell, exchange, lease (other than space leases in the ordinary course of business), assign or transfer the Company’s assets; mortgage, pledge or encumber the Company’s assets other than is expressly authorized by this Agreement; prepay, refinance, modify, extend or consolidate any existing mortgages or encumbrances; borrow money on behalf of the CompanyCompany in the excess of $___________________.00; lend any Company funds or other assets to any person in an amount or entitywith a value in excess of $___________________.00; establish any reserves for working capital repairs, replacements, improvements or any other purpose, in excess of an aggregate of $___________________.00; confess a judgment against the Company; settle, compromise or release, discharge or pay any claim, demand or debtdebt in excess of $___________________.00, including claims for insurance; approve a merger or consolidation of the Company with or into any other limited liability company, corporation, partnership or other entity; or change the nature or character of the business of the Company. The Member(s) members shall receive such sums for compensation as Member(s) Members of the Company as may be determined from time to time by the affirmative vote or consent of Member(s) Members holding a majority of the Member(s)Members’ Percentage Interests.. (Check if Applicable)

Appears in 1 contract

Samples: Limited Liability Company Operating Agreement

Management of the Company. The Company's business and affairs shall be conducted and managed by the Member(s) in accordance with this Agreement and the laws of the State state of the FormationNew Jersey. Single-Member (Applies ONLY if Single-Member): The Member(s) Member of the Company has sole authority and power to act for or on behalf of the Company, to do any act that would be binding on the Company or incur any expenditures on behalf of the Company. The Member(s) Member shall not be liable for the debts, obligations, or liabilities of the Company, including under a judgment, decree, or order of a court. The Company is organized as a “member-managed” limited liability company. The Member(s) Member is designated as the initial managing Member(s)Member. Multi-Member (Applies ONLY if Multi-Member): Except as expressly provided elsewhere in this Agreement, all decisions respecting the management, operation, and control of the business and affairs of the Company and all determinations made in accordance with this Agreement shall be made by the affirmative vote or consent of Member(s) holding a majority of the Members’ Percentage Interests. Notwithstanding any other provision of this Agreement, the Member Members shall not, without the prior written consent of the unanimous vote or consent of the Member(s)Members, sell, exchange, lease, assign or otherwise transfer all or substantially all of the assets of the Company; sell, exchange, lease (other than space leases in the ordinary course of business), assign or transfer the Company’s assets; mortgage, pledge or encumber the Company’s assets other than that which is expressly authorized by this Agreement; prepay, refinance, modify, extend or consolidate any existing mortgages or encumbrances; borrow money on behalf of the Company; lend any Company funds or other assets to any person or entity; establish any reserves for working capital repairs, replacements, improvements improvements, or any other purpose; confess a judgment against the Company; settle, compromise or compromise, release, discharge discharge, or pay any claim, demand or debt, including claims for insurance; approve a merger or consolidation of the Company with or into any other limited liability company, corporation, partnership or other entity; or change the nature or character of the business of the Company. The Member(s) Members shall receive such sums for compensation as Member(s) Members of the Company as may be determined from time to time by the affirmative vote or consent of Member(s) Members holding a majority of the Member(s)Members’ Percentage Interests.

Appears in 1 contract

Samples: Limited Liability Company Operating Agreement

Management of the Company. The Company's business Business of the Company and related affairs shall will be conducted and managed by the Member(s) Members of the Company in accordance line with this Agreement and the laws of the State of the Formation______________. Single-Member (Applies ONLY if Single-Member): The Member(s) Member of the Company has sole complete authority and power to act for or on behalf of the Company, to do any act perform actions that would be are binding on the Company and also take out or otherwise incur any expenditures on behalf of the Company. The Member(s) shall Member will not be personally liable for the debts, obligations, debt, or liabilities any liability of the Companycompany as a result of these actions. This includes any obligations, including under debt, or liability that may be incurred as a result of a decree, judgment, decree, or order of a courtcourt order. The Company is organized as to be a member-managed” managed limited liability company. The Member(s) is designated as As such the Member shall be the initial managing Member(s)member. Multi-Member (Applies ONLY if Multi-Member): Except as expressly provided elsewhere Unless stated somewhere else in this Agreement, all the decisions respecting the related to management, operationoperations, and control controlling the line of business of the business Company, the Company’s other affairs, and affairs of the Company and all determinations made procedures adopted in accordance with this Agreement shall will be made by and with the affirmative vote or consent of Member(s) holding a Members that hold the Majority Members percentage interests of the Company. except stated otherwise in this Agreement, Members may not, without written consent given after majority vote or majority consent of the Members’ Percentage Interests. Notwithstanding any other provision of this Agreement, the Member shall not, without the prior written consent of the unanimous vote or consent of the Member(s), sell, exchange, lease, assign assign, sell, or otherwise in any other way transfer all or substantially all a substantial portion of the Company’s Assets. Furthermore, Members may not transfer smaller portions of the Company’s assets in multiple transactions in an attempt to circumvent the need for a majority vote or consent. Members may not exchange, lease (except when leasing space as part of the business activities of the Company), assign, or transfer the assets of the Company; sell, exchange, lease (other than space leases in the ordinary course of business), assign company or transfer the Company’s assets; mortgage, pledge pledge, or encumber the Company’s those assets other than is unless it has been expressly authorized by this Agreement; . Members shall not prepay, modify, refinance, modifyextend existing mortgages, extend or consolidate any modify existing mortgages or encumbrances; mortgages, borrow money on behalf of for the Company; , lend any Company funds money or other assets to any person or entity; establish any reserves for working capital repairsthird party, replacements, improvements or any other purpose; confess a judgment judgement against the Company; settle, compromise settle or release, discharge or otherwise pay any a claim, demand or debt, including claims for insurance; approve or demand, authorize a consolidation or merger or consolidation of the Company with or into any other limited liability company, corporation, partnership another Company or other entity; , or change the nature or character of the business of the Company. The Member(s) shall receive such sums for Members will be given compensation in their role as Member(s) of the Company as may be Members which is determined from time to time by the affirmative confirmatory vote or consent of Member(s) holding Members that hold a majority of Membership percentage interests in the Member(s)’ Percentage Interestscompany.

Appears in 1 contract

Samples: Limited Liability Company Operating Agreement

Management of the Company. The Company's business and affairs of the Company shall be conducted and managed by the Member(s) in accordance with this Agreement and the laws of the State of the FormationFlorida. Single(Check One) ☐ - SINGLE-Member (Applies ONLY if Single-Member): The Member(s) MEMBER: __________________, as sole member of the Company Company, has sole authority and power to act for or on behalf of the Company, to do any act that would be binding on the Company Company, or incur any expenditures on behalf of the Company. The Member(s) Member shall not be liable for the debts, obligations, obligations or liabilities of the Company, including under a judgment, decree, decree or order of a court. The Company is organized as a “member-managed” limited liability company. The Member(s) Member is designated as the initial managing Member(s)member. Multi☐ - MULTI-Member (Applies ONLY if Multi-Member): MEMBER: Except as expressly provided elsewhere in this Agreement, all decisions respecting the management, operation, operation and control of the business and affairs of the Company and all determinations made in accordance with this Agreement shall be made by the affirmative vote or consent of Member(s) Members holding a majority of the Members’ Percentage Interests. Notwithstanding any other provision of this Agreement, the Member Members shall not, without the prior written consent of the unanimous vote or consent of the Member(s)Members, sell, exchange, lease, assign or otherwise transfer all or substantially all of the assets of the Company; sell, exchange, lease (other than space leases in the ordinary course of business), assign or transfer the Company’s assets; mortgage, pledge or encumber the Company’s assets other than is expressly authorized by this Agreement; prepay, refinance, modify, extend or consolidate any existing mortgages or encumbrances; borrow money on behalf of the CompanyCompany in the excess of $___________________.00; lend any Company funds or other assets to any person in an amount or entitywith a value in excess of $___________________.00; establish any reserves for working capital repairs, replacements, improvements or any other purpose, in excess of an aggregate of $___________________.00; confess a judgment against the Company; settle, compromise or release, discharge or pay any claim, demand or debtdebt in excess of $___________________.00, including claims for insurance; approve a merger or consolidation of the Company with or into any other limited liability company, corporation, partnership or other entity; or change the nature or character of the business of the Company. The Member(s) members shall receive such sums for compensation as Member(s) Members of the Company as may be determined from time to time by the affirmative vote or consent of Member(s) Members holding a majority of the Member(s)Members’ Percentage Interests.. (Check if Applicable)

Appears in 1 contract

Samples: Limited Liability Company Operating Agreement

Management of the Company. The Company's business and affairs of the Company shall be conducted and managed by the Member(s) in accordance with this Agreement and the laws of the State of the FormationGeorgia. Single(Check One) ☐ - SINGLE-Member (Applies ONLY if Single-Member): The Member(s) MEMBER: __________________, as sole member of the Company Company, has sole authority and power to act for or on behalf of the Company, to do any act that would be binding on the Company Company, or incur any expenditures on behalf of the Company. The Member(s) Member shall not be liable for the debts, obligations, obligations or liabilities of the Company, including under a judgment, decree, decree or order of a court. The Company is organized as a “member-managed” limited liability company. The Member(s) Member is designated as the initial managing Member(s)member. Multi☐ - MULTI-Member (Applies ONLY if Multi-Member): MEMBER: Except as expressly provided elsewhere in this Agreement, all decisions respecting the management, operation, operation and control of the business and affairs of the Company and all determinations made in accordance with this Agreement shall be made by the affirmative vote or consent of Member(s) Members holding a majority of the Members’ Percentage Interests. Notwithstanding any other provision of this Agreement, the Member Members shall not, without the prior written consent of the unanimous vote or consent of the Member(s)Members, sell, exchange, lease, assign or otherwise transfer all or substantially all of the assets of the Company; sell, exchange, lease (other than space leases in the ordinary course of business), assign or transfer the Company’s assets; mortgage, pledge or encumber the Company’s assets other than is expressly authorized by this Agreement; prepay, refinance, modify, extend or consolidate any existing mortgages or encumbrances; borrow money on behalf of the CompanyCompany in the excess of $___________________.00; lend any Company funds or other assets to any person in an amount or entitywith a value in excess of $___________________.00; establish any reserves for working capital repairs, replacements, improvements or any other purpose, in excess of an aggregate of $___________________.00; confess a judgment against the Company; settle, compromise or release, discharge or pay any claim, demand or debtdebt in excess of $___________________.00, including claims for insurance; approve a merger or consolidation of the Company with or into any other limited liability company, corporation, partnership or other entity; or change the nature or character of the business of the Company. The Member(s) members shall receive such sums for compensation as Member(s) Members of the Company as may be determined from time to time by the affirmative vote or consent of Member(s) Members holding a majority of the Member(s)Members’ Percentage Interests.. (Check if Applicable)

Appears in 1 contract

Samples: Limited Liability Company Operating Agreement

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