Common use of Rights of Members Relating to the Company Clause in Contracts

Rights of Members Relating to the Company. (a) In addition to other rights provided by this Agreement or by applicable law, and except as limited by Section 7.5(b), each Member shall have the right, for a purpose reasonably related to such Member's interest as a Member in the Company, upon reasonable demand and at such Member's own expense: (i) to obtain true and full information regarding the status of the business and financial condition of the Company: (ii) promptly after becoming available, to obtain a copy of the Company's federal, state and local tax returns for each year; (iii) to have furnished to him, upon notification to the Board of Directors, a current list of the name and last known business, residence or mailing address of each Member; (iv) to have furnished to him, upon notification to the Board of Directors, a copy of this Agreement, and the Certificate of Formation and all amendments thereto, together with a copy of the executed copies of all powers of attorney pursuant to which this Agreement, the Certificate of Formation and all amendments thereto have been executed; (v) to obtain true and full information regarding the amount of cash and description and statement of the Agreed Value of any other Capital Contribution by each Member and that each Member has agreed to contribute in the future, and the date on which each became a Member; and (vi) to obtain such other information regarding the affairs of the Company as is just and reasonable. (b) Notwithstanding any other provision of this Agreement, the Board of Directors may keep confidential from the Members and Assignees, for such period of time as the Board of Directors deems reasonable, any information that the Board of Directors reasonably believes to be in the nature of trade secrets or other information the disclosure of which the Board of Directors in good faith believes is not in the best interests of the Company or the Operating Subsidiaries or could damage the Company or the Operating Subsidiaries or that the Company or the Operating Subsidiaries are required by law or by agreements which third parties to keep confidential (other than agreements with Affiliates the primary purpose of which is to circumvent the obligations set forth in this Section 7.5).

Appears in 3 contracts

Samples: Limited Liability Company Agreement (Eott Energy Finance Corp), Limited Liability Company Agreement (Eott Energy LLC), Limited Liability Company Agreement (Eott Energy LLC)

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Rights of Members Relating to the Company. (a) In addition to the other rights provided by this Agreement or by applicable lawthe Company Act, and except as limited by Section 7.5(b8.4(e), the Company shall promptly provide to the Members all information reasonably requested by any or all of them in connection with any filing requirements (whether related to tax or otherwise) applicable to any Member. (b) In addition to the other rights provided by this Agreement or by the Company Act, and except as limited by Section 8.4(e), each Member shall have the right, provided that such request is for a purpose reasonably related to such Member's ’s interest as a Member in the Company, upon reasonable written demand with a statement of the purpose of such demand and at such Member's ’s own expense: (i) to obtain true and full information regarding the status of the business and financial condition of the Company: (ii) promptly after becoming available, to obtain a copy of the Company's ’s federal, state and local income tax returns for each yearCompany Year; (iiiii) to have furnished to him, upon notification to the Board of Directors, obtain a current list of the name and last known business, residence or mailing address of each any Member; (iviii) to have furnished to him, upon notification to the Board of Directors, obtain a copy of this Agreement, Agreement and the Certificate of Formation and all amendments or restatements thereto, together with a copy of the executed copies of all powers of attorney pursuant to which this Agreement, the Certificate of Formation and all amendments and/or restatements thereto have been executed. (c) In addition to the other rights provided by this Agreement or by the Company Act and except as limited by Section 8.4(e) hereof, the Managing Member shall send to each Member at the Company’s expense, within the time periods set forth below: (i) as soon as available and in any event within 120 days after the close of each Company Year, (a) the statements of income of the Company for such Company Year, (b) the related balance sheets (including any related notes thereto) of the Company as at the end of such Company Year, (c) the related statements of equity and cash flows for the Fiscal Year, (d) the related notes to the financial statements and (e) an opinion of the Company Auditor unless the Company does not have sufficient funds to pay such Company Auditor, which opinion shall state that the final statements of income, retained earnings and cash flows and balance sheet (including the related notes thereto) delivered under this clause fairly present the financial condition and results of operations of the Company as at the end of, and for, such Company Year in accordance with GAAP; (ii) as soon as available and in any event within 60 days after the end of each of the first three Quarters of each Company Year of the Company, (a) the statements of income of the Company for each such Quarter and (b) the related balance sheets (including any related notes thereto) of the Company as at the end of such Quarter and the related statements of cash flows for the period from the beginning of such Company Year to the end of such Quarter; (iii) as soon as available with respect to each Company Year, annual budgets of the Company, CFIN and each of their Subsidiaries; (iv) as soon as available, copies of (a) any auditors’ reviews pursuant to Section 2.11(f) of the CFIN Operating Agreement, (b) all reports and notices pursuant to Section 9.2 of the CFIN Operating Agreement, (c) each “Distribution Schedule” (as defined in the CFIN Operating Agreement) delivered pursuant to Section 13.2 of the CFIN Operating Agreement and (d) all other notices and reports delivered under or pursuant to the CFIN Operating Agreement; and (v) to obtain true and full information regarding upon the amount occurrence thereof, notice of cash and description and statement any event described in Section 12.1(i) of the Agreed Value CFIN Operating Agreement. (d) In addition to the other rights provided by this Agreement or by the Company Act and except as limited by Section 8.4(e) hereof, the Managing Member shall promptly send to the Special Member copies of any other Capital Contribution and all notices (i) received by each Member the Company; (ii) delivered by the Company to the lenders under the Credit Agreement; and that each Member has agreed to contribute in the future, and the date on which each became a Member; and (viiii) to obtain such other information regarding the affairs of received or delivered by the Company as is just and reasonableManaging Member of CFIN. (be) Notwithstanding any other provision of this AgreementSection 8.4, the Board of Directors Company may keep confidential from the Members and Assigneeseach Member, for such period of time as the Board of Directors deems reasonableManaging Member reasonably believes is necessary, any information that the Board of Directors reasonably believes to be in the nature of trade secrets or other information the disclosure of which the Board of Directors in good faith believes is not in the best interests of (i) the Company or the Operating Subsidiaries or could damage the Company or the Operating Subsidiaries or that the Company or the Operating Subsidiaries are is required by law to keep confidential; or (ii) the Company is required by agreements which with an unaffiliated third parties party to keep confidential, to the extent that such Member shall not have agreed to keep any such information confidential on substantially similar terms and conditions as shall have been agreed by the Company in such agreement; provided that, notwithstanding the provisions of this Section 8.4(e), the Members shall in any event be entitled to obtain copies of the Companys tax returns and information reasonably needed by either Member to prepare tax returns as provided in Section 8.4(b)(i). (other than i) the Company is required by law to keep confidential; or (ii) the Company is required by agreements with Affiliates an unaffiliated third party to keep confidential, to the primary purpose extent that such Member shall not have agreed to keep any such information confidential on substantially similar terms and conditions as shall have been agreed by the Company in such agreement; provided that, notwithstanding the provisions of which is to circumvent the obligations set forth in this Section 7.58.4(e), the Members shall in any event be entitled to obtain copies of the Companys tax returns and information reasonably needed by either Member to prepare tax returns as provided in Section 8.4(b)(i).

Appears in 1 contract

Samples: Limited Liability Company Agreement (Centerline Holding Co)

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Rights of Members Relating to the Company. (a) In addition to the other rights provided by this Agreement or by applicable lawthe Act, and except as limited by Section 7.5(b8.5(c), each Member shall have the right, for a purpose reasonably related to such Member's ’s interest as a Member member in the Company, upon reasonable written demand with a statement of the purpose of such demand and at such Member's ’s own expense:expense (including such copying and administrative charges as the Manager may establish from time to time): (i1) to obtain true and full information regarding the status of the business and financial condition of the Company: (ii) promptly after becoming available, to obtain a copy of the Company's ’s federal, state and local income tax returns for each yearCompany Year; (iii2) to have furnished to him, upon notification to the Board of Directors, a current list of the name and last known business, residence or mailing address of each Member; (iv) to have furnished to him, upon notification to the Board of Directors, obtain a copy of this Agreement, Agreement and the Certificate of Formation and all amendments thereto, together with a copy of the executed copies of all powers of attorney pursuant to which this Agreement, the Certificate of Formation and all amendments thereto have been executed;; and (v3) to obtain true and full information regarding the amount of cash and a description and statement of the Agreed Value of any other Capital Contribution property or services contributed by each Member and that which each Member has agreed to contribute in the future, and the date on which each became a Member; and (vi) to obtain such other information regarding the affairs of the Company as is just and reasonable. (b) Notwithstanding The Company shall notify each Member, upon request, of the then current Conversion Factor. (c) Subject to Section 7.1(a) and notwithstanding any other provision of this AgreementSection 8.5, the Board of Directors Manager may keep confidential from the Members and Assignees(except the Class A Members, including for the avoidance of doubt, NHT’s Board of Trustees), for such period of time as the Board of Directors deems Manager determines to be reasonable, any information that (i) the Board of Directors Manager reasonably believes to be in the nature of trade secrets or other information information, the disclosure of which the Board of Directors Manager in good faith believes is not in the best interests of the Company or the Operating Subsidiaries or could damage the Company or the Operating Subsidiaries its business, or that (ii) the Company or the Operating Subsidiaries are is required by law or by agreements which with an unaffiliated third parties party to keep confidential confidential. (other than agreements d) Upon written request by any Member, the Manager shall cause the ownership of Membership Interests by such Member to be evidenced by a certificate in such form as the Manager may determine with Affiliates respect to any class of Membership Interests issued from time to time under this Agreement. Any officer of the primary purpose Manager may direct a new certificate or certificates to be issued in place of which is any certificate or certificates theretofore issued by the Company alleged to circumvent have been lost, destroyed, stolen or mutilated, upon the obligations set forth making of an affidavit of that fact by the person claiming the certificate to be lost, destroyed, stolen or mutilated. Unless otherwise determined by an officer of the Manager, the owner of such lost, destroyed, stolen or mutilated certificate or certificates, or his or her legal representative, shall be required, as a condition precedent to the issuance of a new certificate or certificates, to give the Company a bond in this Section 7.5)such sum as the Manager may direct as indemnity against any claim that may be made against the Company.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Nexpoint Diversified Real Estate Trust)

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