General Rights of Members Sample Clauses

General Rights of Members. Except to the extent expressly provided in this Agreement: (i) no Member shall be entitled to the withdrawal or return of its Capital Contribution, except to the extent, if any, that distributions made pursuant to this Agreement or upon dissolution or termination of the Company may be considered as such by law and then only to the extent provided for in this Agreement; (ii) no Member shall have priority over any other Member as to the return of Capital Contributions or as to distributions, unless as set forth in this Agreement; and (iii) no Member, in its capacity as such, shall participate in the operation or management of the business of the Company, transact any business in the Company’s name or have the power to sign documents for or otherwise bind the Company by reason of being a Member.
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General Rights of Members. A Member shall not have the authority or power to act on behalf of, and/or to bind, the Company and/or any other Member, and a Member shall not have the right or power to take any action which would change the Company to a general partnership, change the limited liability of a Member. Subject to the foregoing, this Agreement may be amended only in writing following a Unanimous Vote of the Members. In addition to other rights provided by this Agreement or by applicable law, a Member shall have the right on demand and at such Member’s own expense: (i) to obtain any and all information regarding the status of the business and financial condition, and any other aspect, of the Company and its assets; (ii) to promptly after becoming available, to 001 - Operating Agreement (QGM) - CM.20210624.docx 10 obtain a copy of the Company's federal, state, and local income tax returns for each fiscal year; (iii) to request the Company furnish the Member with a current list of the name and last known business, residence or mailing address of each Member; (iv) to obtain information regarding the Capital Contributions made by each Member; (v) to receive a copy of this Agreement and the Certificate and all amendments, together with copies of any powers of attorney pursuant to which this Agreement, the Certificate, and all amendments; and (vi), to inspect and copy any of the Company's books and records and obtain such other information regarding the affairs of the Company.

Related to General Rights of Members

  • Voting Rights of Members The Members shall have voting rights as defined by the Membership Voting Interest of such Member and in accordance with the provisions of this Agreement. Members do not have a right to cumulate their votes for any matter entitled to a vote of the Members, including election of Directors.

  • Rights of Limited Partners Except as otherwise provided in this Agreement, each Limited Partner shall look solely to the assets of the Partnership for the return of its Capital Contributions and shall have no right or power to demand or receive property other than cash from the Partnership. Except as otherwise provided in this Agreement, no Limited Partner shall have priority over any other Partner as to the return of its Capital Contributions, distributions, or allocations.

  • Rights of Shareholders The Shares shall be personal property giving only the rights in this Declaration specifically set forth. The ownership of the Trust Property of every description and the right to conduct any business herein before described are vested exclusively in the Trustees, and the Shareholders shall have no interest therein other than the beneficial interest conferred by their Shares, and they shall have no right to call for any partition or division of any property, profits, rights or interests of the Trust nor can they be called upon to share or assume any losses of the Trust or, subject to the right of the Trustees to charge certain expenses directly to Shareholders, as provided in the last sentence of Section 3.8, suffer an assessment of any kind by virtue of their ownership of Shares. The Shares shall not entitle the holder to preference, preemptive, appraisal, conversion or exchange rights (except as specified in this Section 6.3, in Section 11.4 or as specified by the Trustees when creating the Shares, as in preferred shares).

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