LIMITED LIABILITY COMPANY AGREEMENT OF REYNOLDS PACKAGING HOLDINGS LLC
Exhibit
3.44
OF
XXXXXXXX PACKAGING HOLDINGS LLC
This Limited Liability Company Agreement (the “Agreement”) of Xxxxxxxx Packaging
Holdings LLC (the “Company”), dated as of December 31, 2011, is entered into by RenPac
Holdings Inc. as its sole member (the “Sole Member”).
WHEREAS, the
Company was formed pursuant to and in accordance with the Delaware Limited
Liability Company Act (6 Del. C.§ 18-101 et seq.), as amended from time to time (the
“Act”); and
WHEREAS, the Sole Member wishes
to adopt a limited liability company agreement to provide for
the management and administration of the Company.
NOW,
THEREFORE, the Sole Member hereby agrees as follows:
1. Name. The name
of the limited liability company is Xxxxxxxx Packaging
Holdings LLC.
2. Purpose. The
purpose of the Company, and the nature of the business to be
conducted and promoted by the Company, is to engage in any lawful act or activity for which
limited liability companies may be formed under the Act and to engage in any and all
activities necessary, advisable or incidental to the foregoing.
3. Powers of
the Company. Subject to any limitations set forth in this Agreement,
the Company, and the Manager (as defined below) on behalf of the Company, shall have the
power and authority to take any and all actions necessary, appropriate, proper, advisable,
incidental or convenient to or for the furtherance of the purposes set forth in Section 2,
including, without limitation, the power to borrow money and issue evidences of indebtedness
in furtherance of the purposes of the Company.
4. Registered Office. The address of the registered office of the Company in the
State of Delaware is c/o National Registered Agents, Inc., 000 Xxxxxxxxx Xxxxx, Xxxxx 000,
Xxxxx, Xxxxxxxx, 00000, or such other address as may hereafter be determined by the Sole Member.
The Company may also have offices at such other places within or outside the State of Delaware
as the Sole Member may from time to time designate or the business of the Company may require.
5. Registered Agent. The name and address of the registered agent of the
Company for service of process on the Company in the State of Delaware is c/o National Registered
Agents, Inc., 000 Xxxxxxxxx Xxxxx, Xxxxx 000, Xxxxx, Xxxxxxxx, 00000, or such other registered
agent, name and address as may hereafter be determined by the Sole Member.
| 6. | Fiscal Year. The fiscal year of the Company shall end on December 31. |
| 7. | Sole Member. The name and the business, residence or mailing address of the Sole Member is as follows: |
| Name | Address | |||||
| 0000 Xxxx Xxxxx Xxxxxx | ||||||
| Xxxxxxxx, XX 00000 | ||||||
| Xxxxxx Xxxxxx |
8. Management. The business and affairs of the Company shall be managed by a
manager, which shall be the Sole Member (when acting in such capacity, the “Manager”).
The Manager shall have the power to do any and all acts necessary, convenient or incidental
to or for the furtherance of the purposes described herein, including all powers, statutory or
otherwise, possessed by members under the laws of the State of Delaware. The Manager shall
have the right, power and discretion to operate and control the affairs of the Company,
including the power and authority to bind the Company and otherwise act for and on behalf of
the Company. The Manager may from time to time delegate the management of the Company
to one or more designated directors and/or officers of the Company, or any other person, with
such power and authority as the Manager may prescribe from time to time.
9. Authorized Person. Each of the Manager and Xxxxx Xxxxxxx Xxxxxxx is
hereby designated as a person who is authorized by the Act (the “Authorized Person”) to
execute, deliver and file all certificates (and any amendments and/or restatements thereof)
required or permitted by the Act to be filed in the office of the Secretary of State of the
State of Delaware. The Authorized Person may execute, deliver and file any other certificates (and
any amendments and/or restatements thereof) necessary for the Company to qualify to
conduct business in a jurisdiction in which the Company may wish to conduct business and
any documents otherwise required in order for the Company to conduct business. The
Manager hereby approves and ratifies the execution and filing by Xxxxx Xxxxxxx Xxxxxxx, as a
person who is authorized by the Act to execute such certificate, within the meaning of the
Act, of the certificate of formation of the Company, to be effective on December 31, 2011.
10. Officers. (a) The day-to-day functions of the Company may be performed by
a person or persons appointed as an officer or officers of the Company (each, an “Officer”).
The Manager may appoint such Officers as it deems appropriate, and each such Officer so
appointed shall have such authority and perform such duties as the Manager may, from time
to time, delegate to him or her. Each Officer shall hold office until his or her successor is
appointed or until his or her earlier death or until his or her earlier resignation or removal
in accordance with this Agreement. The initial Officers of the Company shall be each person
listed below, who shall hold the offices set forth opposite such person’s name until such
person’s resignation or earlier death or removal in accordance with this Agreement:
| Xxxxxxx X. Xxxx | President & Treasurer | |
| Xxxxx X. Xxxxxxx | Vice President & Secretary |
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| Xxxxx Xxxxxx | Assistant Secretary |
(b) Any Officer may resign as such at any time. Such resignation shall be made in
writing and shall take effect at the time specified therein, or if no time is specified, at the time
of its receipt by the Manager. The acceptance of the Manager of a resignation of any Officer shall
not be necessary to make such resignation effective, unless otherwise specified in such
resignation. Any Officer may be removed at any time by the Manager, with or without cause.
11. Dissolution. (a) The Company shall dissolve, and its affairs shall be wound up,
upon the first to occur of the following: (i) the written consent of the Sole Member, (ii) at
any time there is no member of the Company, unless the Company is continued pursuant to the
Act, or (iii) the entry of a decree of judicial dissolution under Section 18-802 of the Act.
(b) The bankruptcy of the Sole Member will not cause the Sole Member to cease
to be a member of the Company and upon the occurrence of such an event, the business of the
Company shall continue without dissolution.
(c) In the event of dissolution of the Company in accordance with this Agreement,
the Company shall conduct only such activities as are necessary to wind up its affairs
(including the sale of the assets of the Company in an orderly manner), and the assets of the
Company shall be applied in the manner, and in the order of priority, set forth in Section 18-804
of the Act.
12. Capital Contributions. The Sole Member is not required to make any capital
contributions to the Company. The Sole Member may make capital contributions to the
Company in the form of cash, property, services or otherwise, at any time and upon such
contribution, the Sole Member’s capital account balance shall be
adjusted accordingly.
13. Distributions.
Distributions shall be made to the Sole Member at the times and
in the aggregate amounts determined by the Manager. Notwithstanding anything to the
contrary contained herein, the Company shall not be required to make a distribution to the
Sole Member on account of the interest of the Sole Member in the Company if such
distribution would violate the Act, any other applicable law or any material agreement or
other instrument to which the Company is or becomes a party.
14. Admission
of Additional Members. One or more additional members of the
Company may be admitted to the Company with the written consent of the Sole Member. The
admission of an additional member of the Company shall be effective upon its execution of an
instrument signifying its agreement to be bound by the terms and conditions of this
Agreement, which instrument may be a counterpart signature page to this Agreement.
15. Resignation of Sole Member. The Sole Member may not resign from the
Company unless an additional member of the Company shall be admitted by the Company, subject to
Section 14, upon its execution of an instrument signifying its agreement to be bound by the terms
and conditions of this Agreement. Such admission shall be deemed
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effective immediately prior to the resignation, and,
immediately following such admission,
the resigning Sole Member shall cease to be a member of the Company.
16. Restrictions
on Transfers. The Sole Member has the right to sell, assign or
dispose of or otherwise transfer, pledge or encumber (each, a “Transfer”), all or any of its
limited liability company interest in the Company, effective upon written notice of such
Transfer to the Company. Upon the receipt of such notice, the transferee will become a
member of the Company and succeed to the limited liability interests transferred to such
transferee.
17. Liability of Sole Member. The Sole Member shall not be obligated personally
for the debts, obligations and liabilities of the Company, whether arising in contract, tort
or otherwise.
18. Exculpation and Indemnification.
No Officer (each Officer of the Company, a
“Covered Person”) shall be liable to the Company, the Sole Member, any other person or
entity who or that has an interest in the Company or any other Covered Person for any loss,
damage or claim incurred by reason of any act or omission performed or omitted by such
Covered Person in good faith on behalf of the Company and in a manner reasonably believed to be
within the scope of the authority conferred on such Covered Person by this Agreement, except that a
Covered Person shall be liable for any such loss, damage or claim incurred by reason of
such Covered Person’s gross negligence or willful misconduct. To the full extent permitted by
applicable law, each Covered Person shall be entitled to indemnification from the Company for any
loss, damage or claim incurred by such Covered Person by reason of any act or omission
performed or omitted by such Covered Person in good faith on behalf of the Company and in a manner
reasonably believed to be within the scope of the authority conferred on such Covered Person by
this Agreement, except that no Covered Person shall be entitled to be indemnified in respect of any
loss, damage or claim incurred by such Covered Person by reason of
gross negligence or willful
misconduct with respect to such acts or omissions.
19. Amendment. Any
amendment to this Agreement shall require the written
consent of the Sole Member only.
20. Severability. Each provision of this Agreement shall be considered separable,
and if for any reason any provision or provisions hereof are determined to be invalid and
contrary to any existing or future law, such invalidity shall not impair the operation of or
affect those portions of this Agreement which are valid.
21. Entire
Agreement. This Agreement constitutes the entire agreement of the
Sole Member with respect to the subject matter hereof and supersedes all prior agreements
and undertakings, if any, with respect hereto.
22. Governing
Law. THIS AGREEMENT SHALL BE GOVERNED IN ALL
RESPECTS, INCLUDING AS TO VALIDITY, INTERPRETATION AND EFFECT, BY
THE INTERNAL LAWS OF THE STATE OF DELAWARE,WITHOUT GIVING EFFECT
TO THE CONFLICT OF LAWS RULES THEREOF.
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23. Effectiveness.
Pursuant to Section 18-201(d) of the Act, this Agreement
shall be effective as of December 31, 2011.
[Signature Page Follows]
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IN WITNESS WHEREOF, the undersigned, being the Sole Member of the Company, intending to be
legally bound hereby, has duly executed this Agreement as of the date first above written.
| RENPAC HOLDINGS INC. |
||||
| By: | /s/ Xxxxx Xxxxxxx | |||
| Name: | Xxxxx Xxxxxxx | |||
| Title: | Secretary | |||
