RIGHTS AND OBLIGATIONS OF MEMBERS AND MANAGERS Sample Clauses

RIGHTS AND OBLIGATIONS OF MEMBERS AND MANAGERS. 34 Section 7.01 Limitation of Liability and Duties of Members 34 Section 7.02 Lack of Authority 35 Section 7.03 No Right of Partition 35 Section 7.04 Indemnification 36 Section 7.05 Inspection Rights 37 ARTICLE VIII BOOKS, RECORDS, ACCOUNTING AND REPORTS, AFFIRMATIVE COVENANTS 37 Section 8.01 Records and Accounting 37 Section 8.02 Fiscal Year 37 ARTICLE IX TAX MATTERS 37 Section 9.01 Preparation of Tax Returns 37 Section 9.02 Tax Elections 38 Section 9.03 Tax Controversies 38 ARTICLE X RESTRICTIONS ON TRANSFER OF UNITS; CERTAIN TRANSACTIONS 39 Section 10.01 Transfers by Members 39 Section 10.02 Permitted Transfers 39 Section 10.03 Legend 40 Section 10.04 Transfer 40 Section 10.05 Assignee’s Rights 41 Section 10.06 Assignor’s Rights and Obligations 41 Section 10.07 Overriding Provisions 41 Section 10.08 Spousal Consent 42 Section 10.09 Certain Transactions with respect to the Corporation 43 Section 10.10 Unvested Common Units 44 ARTICLE XI REDEMPTION AND DIRECT EXCHANGE RIGHTS 45 Section 11.01 Redemption Right of a Member 45 Section 11.02 Election and Contribution of the Corporation 50 Section 11.03 Direct Exchange Right of the Corporation 50 Section 11.04 Reservation of shares of Class A Common Stock; Listing; Certificate of the Corporation 51 Section 11.05 Effect of Exercise of Redemption or Direct Exchange 52 Section 11.06 Tax Treatment 52 Section 11.07 Redemption Limitations 52 ARTICLE XII ADMISSION OF MEMBERS 53 Section 12.01 Substituted Members 53 Section 12.02 Additional Members 53
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RIGHTS AND OBLIGATIONS OF MEMBERS AND MANAGERS. 35 Section 7.01 Limitation of Liability and Duties of Members 35 Section 7.02 Lack of Authority 36 Section 7.03 No Right of Partition 35 Section 7.04 Indemnification 37 ARTICLE VIII BOOKS, RECORDS, ACCOUNTING AND REPORTS, AFFIRMATIVE COVENANTS 38 Section 8.01 Records and Accounting 38 Section 8.02 Fiscal Year 38 ARTICLE IX TAX MATTERS 38 Section 9.01 Preparation of Tax Returns 38 Section 9.02 Tax Elections 39 Section 9.03 Tax Controversies 39
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RIGHTS AND OBLIGATIONS OF MEMBERS AND MANAGERS 
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Related to RIGHTS AND OBLIGATIONS OF MEMBERS AND MANAGERS

  • Rights and Obligations of Members A. No Member shall be obligated to make capital contributions to the Company except as provided in Section 9A.

  • Rights and Obligations of the Parties 2.1 During the term of this Agreement, Party A’s rights and obligations include:

  • Rights and Obligations of the Limited Partners 8.1 Management of the Partnership. The Limited Partners shall not participate in the management or control of Partnership business nor shall they transact any business for the Partnership, nor shall they have the power to sign for or bind the Partnership, such powers being vested solely and exclusively in the General Partner.

  • Rights and Obligations of Limited Partners 8.1 No Participation in Management. No Limited Partner (other than a General Partner if it has acquired an interest of a Limited Partner) shall take part in the management of the Partnership’s business, transact any business in the Partnership’s name or have the power to sign documents for or otherwise bind the Partnership.

  • Rights and Obligations of Party A I. Rights of Party A

  • Rights and Obligations of Party B 1. Party B’s Rights

  • Absolute Rights and Obligations This is a guaranty of payment and not of collection. The Guarantors’ Obligations under this Guaranty Agreement shall be joint and several, absolute and unconditional irrespective of, and each Guarantor hereby expressly waives, to the extent permitted by law, any defense to its obligations under this Guaranty Agreement and all Security Instruments to which it is a party by reason of:

  • Additional Rights and Obligations If the Company issues securities in its next equity financing (other than a transaction with a strategic partner that involves a financing) within 180 days after the date hereof (the “Next Financing”) that (a) have rights, preferences or privileges that are more favorable than the terms of the Securities, such as price-based anti-dilution protection, or (b) provide all such future investors other contractual terms such as registration rights, the Company shall provide substantially equivalent rights to the Subscriber with respect to the Securities (with appropriate adjustment for economic terms or other contractual rights), subject to such Subscriber’s execution of any documents, including, if applicable, investor rights, co-sale, voting, and other agreements, executed by the investors purchasing securities in the Next Financing (such documents, the “Next Financing Documents”). Notwithstanding anything herein to the contrary, upon the execution and delivery of the Next Financing Documents by Subscriber holding a majority of the then-outstanding Securities, this Subscription Agreement (excluding any then-existing and outstanding obligations) shall be amended and restated by and into such Next Financing Documents and shall be terminated and of no further force or effect.

  • Rights and Obligations of Both Parties 5.1 Party A’s rights and Obligations

  • Rights and Obligations Except as expressly set forth in this Agreement, no Member, in its capacity as a Member, will have any right, power or authority to transact any business in the name of the Series, participate in the management of the Series or to act for or on behalf of or to bind the Series. A Member will have no rights other than those specifically provided herein or granted by law. Except as required by the Act, no Member, solely by reason of being a member, shall be liable for the debts, liabilities, obligations or expenses of the Series.

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