Common use of Establishment of Series Clause in Contracts

Establishment of Series. 1. The Manager has formed the Company as a series of a limited liability company pursuant to the provisions of the Act. The Company commenced upon its creation as a Series pursuant to paragraph 1.6(c) of this Agreement. The execution, delivery and filing of the Certificate of Formation of the Master LLC, and all actions taken in connection with the formation of the Company, are hereby adopted, approved, ratified and confirmed by the Members. 2. Pursuant to Section 18-215(b) of the Act and the Operating Agreement, as it may be amended from time to time (the “Master LLC Agreement”) of Wefunder Portfolio, LLC, a Delaware limited liability company (the “Master LLC”), the Master LLC is authorized and empowered to establish separate members and limited liability company interests with separate and distinct rights, powers, duties, obligations, businesses and objectives (each a “Series” ) . Notice is hereby given that the Company is hereby established as a Series under the Master LLC Agreement. The Series created hereby and the rights and obligations of the Members of the Series admitted hereunder shall be governed by this Agreement. In the event of any inconsistency between this Agreement and the Master LLC Agreement, this Agreement shall control. The debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to the Company shall be enforceable against the assets of the Company only and not against the assets of the Master LLC generally or any other Series thereof, and, unless otherwise provided in this Agreement, none of the debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to the Master LLC generally or any other Series thereof shall be enforceable against the assets of the Company. A Member participating in one Series shall have no rights or interest with respect to any other Series, other than through such Member’s interest in such Series independently acquired by such Member. This Agreement and all provisions herein shall be interpreted in a manner to give full effect to the separateness of each Series. The Manager shall take such reasonable steps as are necessary to implement the foregoing provisions of this paragraph 1.

Establishment of Series. 1. The Manager has formed the Company as a series of a limited liability company pursuant to the provisions of the Act. The Company commenced upon its creation as a Series pursuant to paragraph 1.6(c) of this Agreement. The execution, delivery and filing filing of the Certificate Certificate of Formation of the Master LLC, and all actions taken in connection with the formation of the Company, are hereby adopted, approved, ratified and confirmed by the Members. 2. Pursuant to Section 18-215(b) of the Act and the Operating Agreement, as it may be amended from time to time (the “Master LLC Agreement”) of Wefunder Portfolio, LLC, a Delaware limited liability company (the “Master LLC”), the Master LLC is authorized and empowered to establish separate members and limited liability company interests with separate and distinct rights, powers, duties, obligations, businesses and objectives (each a “Series” ) . Notice is hereby given that the Company is hereby established as a Series under the Master LLC Agreement. The Series created hereby and the rights and obligations of the Members of the Series admitted hereunder shall be governed by this Agreement. In the event of any inconsistency between this Agreement and the Master LLC Agreement, this Agreement shall control. The debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to the Company shall be enforceable against the assets of the Company only and not against the assets of the Master LLC generally or any other Series thereof, and, unless otherwise provided in this Agreement, none of the debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to the Master LLC generally or any other Series thereof shall be enforceable against the assets of the Company. A Member participating in one Series shall have no rights or interest with respect to any other Series, other than through such Member’s interest in such Series independently acquired by such Member. This Agreement and all provisions herein shall be interpreted in a manner to give full effect effect to the separateness of each Series. The Manager shall take such reasonable steps as are necessary to implement the foregoing provisions of this paragraph 1.

Establishment of Series. 1. The Manager has formed the Company as a series of a limited liability company pursuant to the provisions of the Act. The Company commenced upon its creation as a Series pursuant to paragraph 1.6(c) of this Agreement. The execution, delivery and filing filing of the Certificate Certificate of Formation of the Master LLC, and all actions taken in connection with the formation of the Company, are hereby adopted, approved, ratified and confirmed by the Members. 2. Pursuant to Section 18-215(b) of the Act and the Operating Agreement, as it may be amended from time to time (the “Master LLC Agreement”) of Wefunder Portfolio, LLC, a Delaware limited liability company (the “Master LLC”), the Master LLC is authorized and empowered to establish separate members and limited liability company interests with separate and distinct rights, powers, duties, obligations, businesses and objectives (each a “Series” ) . Notice is hereby given that the Company is hereby established as a Series under the Master LLC Agreement. The Series created hereby and the rights and obligations of the Members of the Series admitted hereunder shall be governed by this Agreement. In the event of any inconsistency between this Agreement and the Master LLC Agreement, this Agreement shall control. The debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to the Company shall be enforceable against the assets of the Company only and not against the assets of the Master LLC generally or any other Series thereof, and, unless otherwise provided in this Agreement, none of the debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to the Master LLC generally or any other Series thereof shall be enforceable against the assets of the Company. A Member participating in one Series shall have no rights or interest with respect to any other Series, other than through such Member’s interest in such Series independently acquired by such Member. This Agreement and all provisions herein shall be interpreted in a manner to give full effect to the separateness of each Series. The Manager shall take such reasonable steps as are necessary to implement the foregoing provisions of this paragraph 1.A