General Rights and Obligations of Unitholders. 28 Section 6.1 Limitation of Liability 28 Section 6.2 Lack of Authority 29 Section 6.3 No Right of Partition 29 Section 6.4 Unitholders Right to Act 29 Section 6.5 Investment Opportunities; Conflicts of Interest 29 Section 6.6 Transactions Between the Company and the Unitholders 30 ARTICLE VII EXCULPATION AND INDEMNIFICATION 30 Section 7.1 Exculpation 30 Section 7.2 Right to Indemnification 31 Section 7.3 Advance Payment 31 Section 7.4 Indemnification of Employees and Agents 31 Section 7.5 Appearance as a Witness 32 Section 7.6 Nonexclusivity of Rights 32 Section 7.7 Insurance 32 Section 7.8 Savings Clause 32 ARTICLE VIII BOOKS, RECORDS, ACCOUNTING AND REPORTS 32 Section 8.1 Records and Accounting 32 Section 8.2 Fiscal Year 33 Section 8.3 Tax Information 33 Section 8.4 Transmission of Communications 33 Section 8.5 Company Funds 33 ARTICLE IX TAXES 33 Section 9.1 Tax Returns 33 Section 9.2 Tax Elections 33 Section 9.3 Tax Matters Partner 33 Section 9.4 Code Section 83 Safe Harbor Election 34 ARTICLE X TRANSFER OF COMPANY INTERESTS 34 Section 10.1 Transfers by Unitholders 34 Section 10.2 Effect of Assignment 35 Section 10.3 Restriction on Transfer 35 Section 10.4 Transfer Fees and Expenses 36 Section 10.5 Void Transfers 36 ARTICLE XI ADMISSION OF UNITHOLDERS 36 Section 11.1 Substituted Unitholders 36 Section 11.2 Additional Unitholders 36 Section 11.3 Derivative Securities 36 ARTICLE XII WITHDRAWAL AND RESIGNATION OF UNITHOLDERS 37 Section 12.1 Withdrawal and Resignation of Unitholders 37 Section 12.2 Withdrawal of a Unitholder 37 ARTICLE XIII DISSOLUTION AND LIQUIDATION 37 Section 13.1 Dissolution 37 Section 13.2 Liquidation and Termination 37 Section 13.3 Cancellation of Certificate 38 Section 13.4 Reasonable Time for Winding Up 38 Section 13.5 Return of Capital 38 Section 13.6 Reserves Against Distributions 38 ARTICLE XIV VALUATION 39 Section 14.1 Fair Market Value 39 ARTICLE XV GENERAL PROVISIONS 39 Section 15.1 Power of Attorney 39 Section 15.2 Amendments 40 Section 15.3 Title to the Company’s Assets 40 Section 15.4 Remedies 40 Section 15.5 Successors and Assigns 41 Section 15.6 Severability 41 Section 15.7 Change in Business Form 41 Section 15.8 Opt-in to Article 8 of the Uniform Commercial Code 41 Section 15.9 Notice to Unitholder of Provisions 42 Section 15.10 Counterparts 42 Section 15.11 Consent to Jurisdiction 42 Section 15.12 Descriptive Headings; Interpretation 42 Section 15.13 Applicable Law 42 Section 15.14 Mutual Waiver of Jury Trial 43 Secti...
General Rights and Obligations of Unitholders
