Default Rule definition

Default Rule means a rule stated in the Act which applies except to the extent it may be negated or modified through the provisions of a limited liability company’s Limited Liability Company Agreement.

Default Rule means a rule stated in the Act that applies except to the extent it is negated or modified through the provisions of the Partnership’s certificate of limited partnership or this Agreement.

Default Rule means a rule stated in the Act that may be negated or modified by law and that applies except to the extent it is negated or modified through the provisions of a limited liability company’s operating agreement.

Examples of Default Rule in a sentence

• Inadequate Inputs Where the Inputs for the Transferee are not provided to or received in full by the Gas Transfer Agent within the required times or if they contain any deficiency that prevents a transfer in accordance with the Primary Rule and/or any other relevant Default Rule, then S = 0 (or, if otherwise agreed by the relevant persons who provided input data and the Gas Transfer Agent, the value of “S” as so agreed).

• For each question (a) with respect to which the Act provides a rule (a “Default Rule”) but permits the operating agreement to provide a different rule; and (b) that is addressed by this Operating Agreement, the Default Rule shall not apply to the Company.

• Regardless of whether any provision of this Agreement specifically refers to particular Default Rules, (a) if any provision of this Agreement conflicts with a Default Rule, the provision of this Agreement controls and the Default Rule is modified or negated accordingly, and (b) if it is necessary to construe a Default Rule as modified or negated in order to effectuate any provision of this Agreement, the Default Rule is modified or negated accordingly.

• Regardless of whether this Agreement specifically refers to a particular Default Rule: (i) if any provision of this Agreement conflicts with a Default Rule, the provision of this Agreement controls and such Default Rule is hereby modified or negated accordingly, and (ii) if it is necessary to construe a Default Rule as modified or negated in order to effectuate any provision of this Agreement, such Default Rule is hereby modified or negated accordingly.

• For each question (a) with respect to which the Delaware Act provides a rule (the “Default Rule”), but permits a limited liability company’s operating agreement to provide a different rule and (b) which is expressly addressed by this Agreement, the Default Rule shall not apply to the Company.

More Definitions of Default Rule

Default Rule means a provision of the Act that would apply to the Company unless otherwise provided in, or modified by, the Agreement.

Default Rule means a rule stated in the Act:

Default Rule means a rule that applies in relation to a partnership if the rule is not dealt with in the partnership agreement;

Default Rule means a provision of the Act that would apply to Nevada JV unless otherwise provided in, or modified by, this Agreement.

Default Rule means a provision of the Delaware LLC Act that would apply to the Company unless otherwise provided in, or modified by, this Agreement.

Default Rule means a rule stated in the Act that (a) structures, ------------ defines, or regulates the finances, governance, operations, or other aspects of a limited liability company organized under the Act and (b) applies except to the extent it is negated or modified through the provisions of a limited liability company's certificate of formation or operating agreement.

Default Rule means a rule stated in the Act that (a) structures,