Exhibit B-34(a)
[EPIC LLC]
LIMITED LIABILITY COMPANY AGREEMENT
OF
ENTERGY INTERNATIONAL HOLDINGS LTD LLC
This Limited Liability Company Agreement (this
"Agreement") of Entergy International Holdings Ltd LLC is
entered into by Entergy Corporation, a Delaware corporation,
as the member (the "Member").
The Member, by execution of this Agreement, hereby forms
a limited liability company 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
hereby agrees as follows:
1. Name and Member. The name of the limited
liability company formed hereby is Entergy International
Holdings Ltd LLC (the "Company"). The sole member of the
Company is Entergy Corporation. Entergy Corporation, as the
sole member of the Company, shall own all of the limited
liability company interests in the Company (the "Shares").
The Company is authorized to issue 1,000 Shares. The Company
hereby issues 100 Shares to Entergy Corporation. The Member,
on behalf of the Company, shall cause the Company to issue to
Entergy Corporation a certificate representing the Shares
owned by it. Such certificate shall be signed on behalf of
the Company by the Chairman or Vice Chairman of the Board of
Directors of Entergy Corporation (who is the sole member of
the Company), if any, or the President or a Vice President
and by the Treasurer or an Assistant Treasurer, or the
Secretary or an Assistant Secretary of Entergy Corporation,
certifying the number of Shares owned by Entergy Corporation
in the Company. Any or all of the signatures on the
certificate may be a facsimile. In case any officer of
Entergy Corporation shall have ceased to be such officer
before such certificate is issued, it may be issued by the
Company with the same effect as if he or she were such
officer at the date of issue.
2. Governmental Certificates. Entergy Corporation, as
an authorized person within the meaning of the Act, shall
execute, deliver and file the Certificate of Formation with
the Secretary of State of the State of Delaware. The Member
shall execute, deliver and file any other certificates (and
any amendments and/or restatements thereof) necessary for the
Company to qualify to do business in a jurisdiction in which
the Company may wish to conduct business.
3. Purpose. The Company is formed for the object and
purpose of, and the nature of the business to be conducted
and promoted by the Company is, engaging in any lawful act or
activity for which limited liability companies may be formed
under the Act.
4. Powers. In furtherance of its purposes, but
subject to all of the provisions of this Agreement, the
Company shall have the power and is hereby authorized to:
a. acquire by purchase, lease, contribution of
property or otherwise, own, hold, sell, convey, transfer or
dispose of any real or personal property which may be
necessary, convenient or incidental to the accomplishment of
the purpose of the Company;
b. act as a trustee, executor, nominee, bailee,
director, officer, agent or in some other fiduciary capacity
for any person or entity and to exercise all of the powers,
duties, rights and responsibilities associated therewith;
c. take any and all actions necessary, convenient
or appropriate as trustee, executor, nominee, bailee,
director, officer, agent or other fiduciary, including the
granting or approval of waivers, consents or amendments of
rights or powers relating thereto and the execution of
appropriate documents to evidence such waivers, consents or
amendments;
d. operate, purchase, maintain, finance, improve,
own, sell, convey, assign, mortgage, lease or demolish or
otherwise dispose of any real or personal property which may
be necessary, convenient or incidental to the accomplishment
of the purposes of the Company;
e. borrow money and issue evidences of
indebtedness in furtherance of any or all of the purposes of
the Company, and secure the same by mortgage, pledge or other
lien on the assets of the Company;
f. invest any funds of the Company pending
distribution or payment of the same pursuant to the
provisions of this Agreement;
g. prepay in whole or in part, refinance, recast,
increase, modify or extend any indebtedness of the Company
and, in connection therewith, execute any extensions,
renewals or modifications of any mortgage or security
agreement securing such indebtedness;
h. enter into, perform and carry out contracts of
any kind, including, without limitation, contracts with any
person or entity affiliated with the Member, necessary to, in
connection with, convenient to, or incidental to the
accomplishment of the purposes of the Company;
i. employ or otherwise engage employees,
managers, contractors, advisors, attorneys and consultants
and pay reasonable compensation for such services;
j. enter into partnerships, limited liability
companies, trusts, associations, corporations or other
ventures with other persons or entities in furtherance of the
purposes of the Company; and
k. do such other things and engage in such other
activities related to the foregoing as may be necessary,
convenient or incidental to the conduct of the business of
the Company, and have and exercise all of the powers and
rights conferred upon limited liability companies formed
pursuant to the Act.
5. Principal Business Office. The principal business
office of the Company shall be located at such location as
may be determined by the Member.
6. Registered Office. The address of the registered
office of the Company in the State of Delaware is c/o The
Corporation Trust Company, 0000 Xxxxxx Xxxxxx, Xxxxxxxxxx,
Xxx Xxxxxx Xxxxxx, Xxxxxxxx 00000.
7. 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 The Corporation Trust
Company, 0000 Xxxxxx Xxxxxx, Xxxxxxxxxx, Xxx Xxxxxx Xxxxxx,
Xxxxxxxx 00000.
8. Member. The name and the mailing address of the
Member are as follows:
Name Address
Entergy Corporation 000 Xxxxxx Xxxxxx
Xxx Xxxxxxx, XX 00000
9. Limited Liability. Except as otherwise provided by
the Act, the debts, obligations and liabilities of the
Company, whether arising in contract, tort or otherwise,
shall be solely the debts, obligations and liabilities of the
Company, and the Member shall not be obligated personally for
any such debt, obligation or liability of the Company solely
by reason of being a member of the Company.
10. Capital Contributions. The Member is deemed
admitted as a member of the Company upon its execution and
delivery of this Agreement. The Member shall, at such time
as it in its sole discretion determines, contribute to the
Company all of the limited liability company interests that
it owns in Entergy International Ltd LLC, a Delaware limited
liability company ("EPDIC LLC"). Without the need for the
consent of any person or entity, the Company, and each
Officer and the Member on behalf of the Company, acting
singly or jointly, are hereby authorized to cause the Company
to execute, deliver and perform the limited liability company
agreement of EPDIC LLC, as the same may be amended from time
to time. The Company is hereby authorized to and shall
become a member of EPDIC LLC and exercise all rights and to
perform all duties associated with being a member of EPDIC
LLC.
11. Additional Contributions. The Member is not
required to make any additional capital contribution to the
Company. The Member may make additional capital
contributions to the Company in the sole discretion of the
Member.
12. Allocation of Profits and Losses. The Company's
profits and losses shall be allocated to the Member.
13. Distributions. Distributions shall be made to the
Member at the times and in the aggregate amounts determined
by the Member. Notwithstanding any provision to the contrary
contained in this Agreement, the Company shall not make a
distribution to the Member on account of its interest in the
Company if such distribution would violate Section 18-607 of
the Act or other applicable law.
14. Management. In accordance with Section 18-402 of
the Act, management of the Company shall be vested in the
Member. The Member 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 of a
limited liability company under the laws of the State of
Delaware. The Member has the authority to bind the Company.
15. Officers. The Member may, from time to time as it
deems advisable, appoint officers of the Company (the
"Officers") and assign in writing titles (including, without
limitation, President, Vice President, Secretary, and
Treasurer) to any such person. Unless the Member decides
otherwise, if the title is one commonly used for officers of
a business corporation formed under the Delaware General
Corporation Law, the assignment of such title shall
constitute the delegation to such person of the authorities
and duties that are normally associated with that office.
Any delegation pursuant to this Section 15 may be revoked at
any time by the Member.
16. Other Business. The Member may engage in or
possess an interest in other business ventures (unconnected
with the Company) of every kind and description,
independently or with others. The Company shall not have any
rights in or to such independent ventures or the income or
profits therefrom by virtue of this Agreement.
17. Exculpation and Indemnification. No Member or
Officer shall be liable to the Company, any other person or
entity who has an interest in the Company for any loss,
damage or claim incurred by reason of any act or omission
performed or omitted by such Member or Officer 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
Member or Officer by this Agreement, except that a Member or
Officer shall be liable for any such loss, damage or claim
incurred by reason of such Member's or Officer's willful
misconduct. To the full extent permitted by applicable law,
a Member or Officer shall be entitled to indemnification from
the Company for any loss, damage or claim incurred by such
Member or Officer by reason of any act or omission performed
or omitted by such Member or Officer 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 Member or
Officer by this Agreement, except that no Member or Officer
shall be entitled to be indemnified in respect of any loss,
damage or claim incurred by such Member or Officer by reason
of willful misconduct with respect to such acts or omissions;
provided, however, that any indemnity under this Section 17
shall be provided out of and to the extent of Company assets
only, and the Member shall not have personal liability on
account thereof.
18. Assignments. A Member may assign in whole or in
part its Shares with the written consent of the Member. If a
Member transfers all of its Shares pursuant to this Section
18, the transferee shall be admitted to the Company 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 effective immediately prior to the
transfer, and, immediately following such admission, the
transferor Member shall cease to be a member of the Company.
19. Resignation. A Member may resign from the Company
with the written consent of the Member. If a Member is
permitted to resign pursuant to this Section 19, an
additional member shall be admitted to the Company, subject
to Section 20, 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 effective
immediately prior to the resignation, and, immediately
following such admission, the resigning Member shall cease to
be a member of the Company.
20. Admission of Additional Members. One (1) or more
additional members of the Company may be admitted to the
Company with the written consent of the Member.
21. 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 Member, (ii) the retirement,
resignation or dissolution of the last remaining Member or
the occurrence of any other event which terminates the
continued membership of the last remaining Member in the
Company unless the business of the Company is continued in a
manner permitted by the Act, or (iii) the entry of a decree
of judicial dissolution under Section 18-802 of the Act.
(b) Except to the extent set forth in Section
21(a) of this Agreement, the occurrence of any event that
terminates the continued membership of a Member in the
Company shall not cause the dissolution 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, 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.
(d) Except as set forth in this Section 21, the
Company shall have perpetual existence.
22. Separability of Provisions. Each provision of this
Agreement shall be considered separable and if for any reason
any provision or provisions herein are determined to be
invalid, unenforceable or illegal under any existing or
future law, such invalidity, unenforceability or illegality
shall not impair the operation of or affect those portions of
this Agreement which are valid, enforceable and legal.
23. Entire Agreement. This Agreement constitutes the
entire agreement of the Member with respect to the subject
matter hereof.
24. Governing Law. This Agreement shall be governed
by, and construed under, the laws of the State of Delaware
(without regard to conflict of laws principles), all rights
and remedies being governed by said laws.
25. Amendments. This Agreement may not be modified,
altered, supplemented or amended except pursuant to a written
agreement executed and delivered by the Member.
IN WITNESS WHEREOF, the undersigned, intending to
be legally bound hereby, has duly executed this Agreement as
of the 20th day of August, 1997.
ENTERGY CORPORATION, as Member
By:________________________________
Name:
Title:
AMENTMENT NO. 1
LIMITED LIABILITY COMPANY
OF
ENTERGY INTERNATIONAL HOLDINGS LTD LLC.
Effective August 20, 1997
Entergy Corporation as sole member of Entergy
International Holdings LTD LLC hereby amends the Limited
Liability Agreement of Entergy International Holdings LTD LLC
(this "Agreement").
Section 13 is amended and restated is its entirety as
follows:
Distributions. Distributions shall be made to the
Member at the times and in the aggregate amounts as
determined by any officer of the Company. Notwithstanding
any provision to the contrary contained in this Agreement,
the Company shall not make a distribution to a Member on
account of its interest in the Company if such distribution
would violate Section 18-607 of the Act or other applicable
law.
IN WITNESS WHEREOF, the undersigned, intending to be
legally bound hereby, has executed this Amendment No. 1 as of
12th day of March, 1998.
ENTERGY CORPORATION, as Member
By: /s/ Xxxxx X. Xxxx
Name: Xxxxx X. Xxxx
Title: Vice President
