Common use of Formation Clause in Contracts

Formation. The Company has been formed as a limited liability company pursuant to the provisions of the Delaware Act. Except as expressly provided to the contrary in this Agreement, the rights, duties, liabilities and obligations of the Members and the administration, dissolution and termination of the Company shall be governed by the Delaware Act. All Shares shall constitute personal property of the owner thereof for all purposes and a Member has no interest in specific Company property.

Appears in 91 contracts

Samples: Operating Agreement (Groundfloor Loans 1, LLC), Operating Agreement (Groundfloor Loans 1, LLC), Operating Agreement (Arrived Debt Fund, LLC)

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Formation. The Company has been formed as a series limited liability company pursuant to the provisions Section 18-215 of the Delaware Act. Except as expressly provided to the contrary in this Agreement, the rights, duties, liabilities and obligations of the Members and the administration, dissolution and termination of the Company and each Series shall be governed by the Delaware Act. All Shares shall constitute personal property of the owner thereof for all purposes and a Member has no interest in specific Company property.

Appears in 78 contracts

Samples: Series Limited Liability Company Agreement (Wahed Real Estate Series 1 LLC), Series Limited Liability Company Agreement (Paradyme Fund a Ii, LLC), Limited Liability Company Agreement (Neptune REM, LLC)

Formation. The Company has been formed as a limited liability company pursuant to the provisions of the Delaware Act. Except as expressly provided to the contrary in this Agreement, the rights, duties, liabilities and obligations of the Members and the administration, dissolution and termination of the Company shall be governed by the Delaware Act. All Shares Units shall constitute personal property of the owner thereof for all purposes and a Member has no interest in specific Company property.

Appears in 12 contracts

Samples: Limited Liability Company Agreement (Birgo Reiturn Fund LLC), Limited Liability Company Agreement (Birgo Reiturn Fund LLC), Limited Liability Company Agreement (Birgo Reiturn Fund Manager LLC)

Formation. The Company has been previously formed as a limited liability company pursuant to the provisions of the Delaware Act. Except as expressly provided to the contrary in this Agreement, the rights, duties (including fiduciary duties), liabilities and obligations of the Members and the administration, dissolution and termination of the Company shall be governed by the Delaware Act. All Shares Units shall constitute personal property of the owner thereof for all purposes purposes, and a Member has no interest in specific Company property.

Appears in 10 contracts

Samples: Operating Agreement (Brookfield Oaktree Holdings, LLC), Operating Agreement (Oaktree Capital Group, LLC), Operating Agreement

Formation. The Company has been formed as a limited liability company pursuant to the provisions of the Delaware Act. Except as expressly provided to the contrary in this Agreement, the rights, duties (including fiduciary duties), liabilities and obligations of the Members and the administration, dissolution and termination of the Company shall be governed by the Delaware Act. All Shares shall constitute personal property of the owner thereof for all purposes and a Member has no interest in specific Company property.

Appears in 6 contracts

Samples: Limited Liability Company Agreement (Fortress Investment Group LLC), Limited Liability Company Agreement (Fortress Investment Group LLC), Limited Liability Company Agreement (Och-Ziff Capital Management Group LLC)

Formation. The Company has been was formed as a limited liability company pursuant to the provisions of the Delaware Act. The Members hereby amend and restate the Prior Agreement in its entirety, effective as of the date of this Agreement. Except as expressly provided to the contrary in this Agreement, the rights, duties, liabilities and obligations of the Members and the administration, dissolution and termination of the Company shall be governed by the Delaware Act. All Shares shall constitute personal property of the owner thereof for all purposes and a Member has no interest in specific Company property.

Appears in 4 contracts

Samples: Limited Liability Company Agreement (Kimbell Royalty Partners, LP), Limited Liability Company Agreement (Kimbell Royalty Partners, LP), Limited Liability Company Agreement (Kimbell Royalty Partners, LP)

Formation. The Company has been formed as a limited liability company pursuant to the provisions of the Delaware Act. Except as expressly provided to the contrary in this Agreement, the rights, duties (including fiduciary duties), liabilities and obligations of the Members and the administration, dissolution and termination of the Company shall be governed by the Delaware Act. All Shares shall constitute personal property of the owner thereof for all purposes and a Member has no interest in specific Company property.

Appears in 4 contracts

Samples: Limited Liability Company Agreement (Fortis Minerals, LLC), Limited Liability Company Agreement (New Fortress Energy LLC), Limited Liability Company Agreement (New Fortress Energy LLC)

Formation. The Company has been was previously formed as a limited liability company by the filing of the Certificate of Formation with the Secretary of State of the State of Delaware pursuant to the provisions of the Delaware ActAct and the execution of the Original LLC Agreement. This Agreement amends and restates the Original LLC Agreement in its entirety. Except as expressly provided to the contrary in this Agreement, the rights, duties, liabilities and obligations of the Members and the administration, dissolution and termination of the Company shall be governed by the Delaware Act. All Shares Company Interests shall constitute personal property of the owner thereof for all purposes and a Member has no interest in specific Company propertypurposes.

Appears in 4 contracts

Samples: Limited Liability Company Agreement (Oasis Midstream Partners LP), Limited Liability Company Agreement (Oasis Midstream Partners LP), Limited Liability Company Agreement (Oasis Midstream Partners LP)

Formation. The Company has been formed as a limited liability company pursuant to the provisions of the Delaware Act. Except as expressly provided to the contrary in this Agreement, the rights, duties, liabilities and obligations of the Members and the administration, dissolution and termination of the Company shall be governed by the Delaware Act. All Shares shall constitute personal property of the owner thereof for all purposes and a Member has no interest in specific Company propertyCompany.

Appears in 4 contracts

Samples: Limited Liability Company Agreement (Public Luxury Handbag Portfolio LLC), Limited Liability Company Agreement (Public Shrek Royalties LLC), Limited Liability Company Agreement (Public 1997 Michael Jordan PMG LLC)

Formation. The Company has been formed as a limited liability company under and pursuant to the provisions of the Delaware Act. Except as expressly provided to the contrary in this Agreement, and the rights, duties, obligations and liabilities and obligations of the Members and the administration, dissolution and termination of the Company shall be governed by as provided in the Delaware Act. All Shares shall constitute personal property of the owner thereof for all purposes and a Member has no interest in specific Company property, except as otherwise provided herein.

Appears in 3 contracts

Samples: Operating Agreement, Operating Agreement (Rhythm Holding Company, LLC), Operating Agreement (Rhythm Holding Company, LLC)

Formation. The Company has been was formed as a limited liability company pursuant to the provisions of the Delaware Act. The Members hereby amend and restate the Previous Agreement in its entirety, effective as of the date of this Agreement. Except as expressly provided to the contrary in this Agreement, the rights, duties, liabilities and obligations of the Members and the administration, dissolution and termination of the Company shall be governed by the Delaware Act. All Shares shall constitute personal property of the owner thereof for all purposes and a Member has no interest in specific Company property.

Appears in 3 contracts

Samples: Limited Liability Company Agreement (Viper Energy, Inc.), Limited Liability Company Agreement (Rattler Midstream Lp), Limited Liability Company Agreement (Rattler Midstream Lp)

Formation. The Company has been formed as a limited liability company pursuant to the provisions of the Delaware Act. Except as expressly provided to the contrary in this Agreement, the rights, duties, liabilities and obligations of the Members and the administration, dissolution and termination of the Company shall be governed by the Delaware Act. All Shares Bits shall constitute personal property of the owner thereof for all purposes and a Member has no interest in specific Company property.

Appears in 3 contracts

Samples: Operating Agreement (Building Bits Properties I, LLC), Operating Agreement (Building Bits Properties I, LLC), Operating Agreement (Building Bits Properties I, LLC)

Formation. The Company has been formed as a series limited liability company pursuant to the provisions of the Delaware Act. Except as expressly provided to the contrary in this AgreementAgreement or the Bylaws, the rights, duties (including fiduciary duties), liabilities and obligations of the Members and the administration, dissolution and termination of the Company and each Series shall be governed by the Delaware Act. All Shares shall constitute personal property of the owner thereof for all purposes and a Member has no interest in specific Company or Series property.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Etre Reit, LLC), Limited Liability Company Agreement (Etre Reit, LLC)

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Formation. The Company has been formed as a limited liability company pursuant to the provisions of the Delaware Act. Except as expressly provided to the contrary in this Agreement, the rights, duties (including fiduciary duties), liabilities and obligations of the Members and the administration, dissolution and termination of the Company shall be governed by the Delaware Act. All Shares shall constitute personal property of the owner thereof for all purposes purposes, and a Member has no interest in specific Company property.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Five Point Holdings, LLC), Limited Liability Company Agreement (Five Point Holdings, LLC)

Formation. The Company has been formed as a series limited liability company pursuant to the provisions Section 18- 215 of the Delaware Act. Except as expressly provided to the contrary in this Agreement, the rights, duties, liabilities and obligations of the Members and the administration, dissolution and termination of the Company and each Series shall be governed by the Delaware Act. All Shares shall constitute personal property of the owner thereof for all purposes and a Member has no interest in specific Company property.

Appears in 2 contracts

Samples: Series Limited Liability Company Agreement (Whimsy Properties LLC), Series Limited Liability Company Agreement

Formation. The Company has been was previously formed as a limited liability company by the filing of the Certificate of Formation with the Secretary of State of the State of Delaware pursuant to the provisions of the Delaware ActAct and the execution of the Original LLC Agreement. This Agreement amends and restates the Original LLC Agreement, in its entirety. Except as expressly provided to the contrary in this Agreement, the rights, duties, liabilities and obligations of the Members and the administration, dissolution and termination of the Company shall be governed by the Delaware Act. All Shares Company Interests shall constitute personal property of the owner thereof for all purposes and a Member has no interest in specific Company propertypurposes.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Oasis Petroleum Inc.)

Formation. The Company has been was formed as a limited liability company pursuant to the provisions Act, and all other pertinent laws of the Delaware ActState of Delaware, for the purposes and upon the terms and conditions set forth in this Agreement. Except as expressly provided to the contrary in this Agreement, the rights, duties, liabilities and obligations of the Members and the administration, dissolution and termination of the Company shall be governed by the Delaware Act. All Shares Membership Interests shall constitute personal property of the owner thereof for all purposes and a Member has no interest in specific Company property.

Appears in 1 contract

Samples: Operating Agreement (StartEngine Real Estate REIT 1 LLC)

Formation. The Company has been formed as a limited liability company pursuant to the provisions of the Delaware Act. Except as expressly provided to the contrary in this Agreement, the rights, duties (including fiduciary duties), liabilities and obligations of the Members Member and the administration, dissolution and termination of the Company shall be governed by the Delaware Act. All Shares shall constitute personal property of the owner thereof for all purposes and a Member has no interest in specific Company property.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Fortress Investment Group LLC)

Formation. The Company has been previously formed as a limited liability company pursuant to the provisions of the Delaware Act. Except as expressly provided to the contrary in this Agreement, the rights, duties (including fiduciary duties), liabilities and obligations of the Members and the administration, dissolution and termination of the Company shall be governed by the Delaware Act. All Shares Units shall constitute personal property of the owner thereof for all purposes purposes, and a Member has no interest in specific Company property.. Section 2.2

Appears in 1 contract

Samples: Operating Agreement (Oaktree Capital Group, LLC)

Formation. The Company has been formed organized as a limited liability company pursuant to the provisions of the Delaware Act. Except as expressly provided to the contrary in this Agreement, the rights, duties, liabilities rights and obligations of the Members and the administration, dissolution and termination of the Company shall be governed by the Delaware Act. All Shares The Interest of each Member shall constitute be personal property of the owner thereof for all purposes and a Member has no interest in specific Company propertypurposes.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Parallel, L.P.)

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