Nys Operating Agreement Llc Template

3.1.1. Initial interest and voting rights. As of the date of that person, anyone listed in Schedule A becomes a member and is listed as such in the company`s books and records. Each member is required to register the total amount of this capital investment on the date of this agreement, unless the directors or this agreement have decided otherwise. Each member was assigned interest in the name of this member in Schedule A. Each member`s capital contribution is provided in Appendix A. Each member has the right to vote, unless otherwise stated in this agreement. 11.10. Lawyer fees.

Where a legal or legal act is necessary to enforce or interpret the terms of this Agreement, the dominant party is entitled to reasonable fees, fees and payments in addition to any other facility to which that party may claim. The company and the member bear their own legal expenses and expenses incurred on their behalf in relation to this agreement and the transactions under this agreement. 11.2. Full agreement. This agreement defines the whole agreement between the parties with respect to the purpose of this agreement and brings together all prior discussions between them. CONSIDERING that the parties have agreed on the terms of their relationship and wish to reduce this agreement to the letter; New York State law requires all LCs to develop an enterprise agreement to define the rules and rules applicable to the company. In addition, the form documents each member`s rights and the first investments in the company. Each member must verify the document before it is signed and maintained at the personal reference. 1.1.2.

“Affiliate.” A person controlled directly or indirectly by one or more intermediaries, controlled or controlled by the designated person or placed under common control. To this end, the control of a person means that the power (whether exercised) to direct that person`s directives, operations or activities by or by ownership or the right to vote, or to direct that person`s voting method, or in accordance with the law, agreement or other means. No member is considered a partner of another member under this agreement or ownership in the company`s shares. 3.1.6. Capital deposits. With the exception of the dissolution and liquidation of the company, or on the other hand, there is no agreement or time set for the return of a member`s capital contribution. A member must deal exclusively with the company`s assets for the return of its capital contributions, and if the assets remaining after the payment or payment of the company`s debts and debts are not sufficient to return their deposits, the members have no recourse against the directors or directors because of such imperfections.

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