Series Operations Clause Samples
The Series Operations clause defines the rules and procedures governing the management and administration of multiple series within a larger entity, such as a series limited liability company (LLC). It typically outlines how each series is formed, operated, and maintained as a separate unit, including the allocation of assets, liabilities, and responsibilities specific to each series. This clause ensures that the operations of one series do not affect the others, thereby providing clarity and legal separation between different business activities or investments under the same organizational umbrella.
Series Operations. Each Series shall operate to the extent practicable as if it were a separate limited liability company, and intends to acquire, manage, value-add, develop, construct, lease, and/or sell real Properties located throughout the United States with primary focus in New Jersey and Maryland
Series Operations. Each Series shall operate to the extent practicable as if it were a separate limited liability company, and intends to acquire, manage, value-add, develop, construct, lease, and/or sell real properties located throughout the United States (each, a “Property,” and collectively, “Properties”). The Manager intends for each Series to elect and qualify to be taxed as a separate real estate investment trust, or “REIT”, for U.S. federal income tax purposes, commencing with the taxable year ending after the completion of each Series Offering.