No Membership Intended for Nontax Purposes. The Member has formed the Company under the Act, and expressly does not intend hereby to form a partnership, either general or limited, under the Delaware partnership laws.
No Membership Intended for Nontax Purposes. The Members have formed the Company under the Act, and expressly do not intend hereby to form a partnership under either the Delaware Uniform Partnership Act or the Delaware Uniform Limited Partnership Act. The Members do not intend to be partners one to another, or partners as to any third party. To the extent any Member, by word or action, represents to another person that any Member is a partner or that the Company is a partnership, the Member making such wrongful representation will be liable to any other Members who incur personal liability by reason of such wrongful representation.
No Membership Intended for Nontax Purposes. The Members have formed the Company under the Act, and expressly do not intend hereby to form a partnership, either general or limited, under the Uniform Partnership Act. The Members do not intend to be partners one to another, or partners as to any third party, other than for tax purposes as set forth in Section 3.3 above. To the extent any Member, by word or action, represents to another person that any Member is a partner or that the Company is a partnership, the Member making such wrongful representation shall be liable to any other Members who incur personal liability by reason of such wrongful representation.
No Membership Intended for Nontax Purposes. 16 14.10 No Rights of Creditors and Third Parties under Agreement 17 14.11 General Interpretive Principles 17 ARTICLE XV 15 Arbitration ........................................................................................................... Schedule “A” List of Members 19 Schedule “B” Income Tax Provisions Incorporated by Reference 20 Schedule ‘C” Purchase for “Just Cause” . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24 Schedule “D” Voluntary Sale of Units . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . This Limited Liability Company Operating Agreement of Rock Meadow Partners, LLC, a limited liability company organized pursuant to the Delaware Limited Liability Company Act and authorized to do Business in the State of New York, is entered into and shall be effective as of the Effective Date, by and among the Company and the persons executing this Agreement.
No Membership Intended for Nontax Purposes. The Members have formed the Company under the Act, and expressly do not intend hereby to form a partnership, either general or limited, under Delaware Law. The Members do not intend to be partners one to another, or partners as to any third party. To the extent any Member, by word or action, represents to another person that any Member is a partner or that the Company is a partnership, the Member making such wrongful representation shall be liable to any other Members who incur personal liability by reason of such wrongful representation. SCHEDULE A Name of Member Address of Member No of Units, Profit Sharing Ratio, Loss Sharing Ratio Xxxxxxxx X. Xxxxxx 00 Xxxxx Xxxxx Xxxxxxxxxx, XX 00000 50% Xxxxxxx X. Xxxxxx 00 Xxxxx Xxxxx Xxxxxxxxxx, XX 00000 50% Schedule “B” Income Tax Provisions Incorporated by Reference into the Operating Agreement
No Membership Intended for Nontax Purposes. The Members have formed the Company under the Act, and expressly do not intend hereby to form a partnership, either general or limited, under the New York Uniform Partnership Act. The Members do not intend to be partners one to another, or partners as to any third party. To the extent any Member, by word or action, represents to another person that any Member is a partner or that the Company is a partnership, the Member making such wrongful representation shall be liable to any other Members who incur personal liability by reason of such wrongful representation.
