General Statutory Override. To the extent permitted by law, the provisions of this Agreement shall govern over all provisions of the Act which would apply but for (and inconsistently with) the Agreement. For each question (a) with respect to which the Act provides a rule (a “Default Rule”) but permits a limited liability company’s operating agreement to provide a different rule and (b) which is addressed by this Agreement, the Default Rule shall not apply to the Company.
Appears in 2 contracts
Samples: Operating Agreement (Watsco Inc), Operating Agreement (Watsco Inc)
General Statutory Override. To the extent permitted by lawLaw, the provisions of this Agreement shall govern over all provisions of the Act which would apply but for (and inconsistently with) the this Agreement. For each question (a) with respect to which the Act provides a rule (a “Default Ruledefault rule”) but permits a limited liability company’s operating agreement to provide a different rule and (b) which is addressed by this Agreement, the Default Rule default rule shall not apply to the Company.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Axiall Corp/De/)
General Statutory Override. To the extent permitted by law, the provisions of this Agreement shall govern over all provisions of the Act which would apply but for (and inconsistently with) the this Agreement. For each question (a) with respect to which the Act provides a rule (a “Default Ruledefault rule”) but permits a limited liability company’s operating agreement to provide a different rule and (b) which is addressed by this Agreement, the Default Rule default rule shall not apply to the Company.
Appears in 1 contract
Samples: Purchase and Sale Agreement (Excelsior Lasalle Property Fund Inc)
General Statutory Override. To the extent permitted by law, the provisions of this Agreement shall govern over all provisions of the Act which would apply but for (and inconsistently with) the this Agreement. For each question (a) with respect to which the Act provides a rule (a “Default Rule”"default rule") but permits a limited liability company’s operating agreement 's Limited Liability Company to provide a different rule and (b) which is addressed by this Agreement, the Default Rule default rule shall not apply to the Company.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Glimcher Realty Trust)
