Exhibit 3.14
LIMITED LIABILITY COMPANY AGREEMENT
OF
SCG INTERNATIONAL DEVELOPMENT, LLC
A DELAWARE LIMITED LIABILITY COMPANY
EFFECTIVE AS OF APRIL 30, 1999
Exhibit 3.14
LIMITED LIABILITY COMPANY AGREEMENT
OF
SCG INTERNATIONAL DEVELOPMENT, LLC
This LIMITED LIABILITY COMPANY AGREEMENT (as amended, restated
or otherwise modified, this "AGREEMENT") of SCG INTERNATIONAL DEVELOPMENT, LLC
(the "LLC") ) is being executed by SEMICONDUCTOR COMPONENTS INDUSTRIES, LLC, a
Delaware limited liability company (the "MEMBER"), as of this 30th day of April,
1999, pursuant to the provisions of the Delaware Limited Liability Company Act
(6 Del. C. Sections 18-101, et seq.) (as amended from time to time, the
"ACT"), on the following terms and conditions:
ARTICLE I
THE LLC
1.1 ORGANIZATION. The Member hereby creates a limited liability company
pursuant to the provisions of the Act and upon the terms and conditions set
forth in this Agreement. The Member shall be deemed admitted as a member of the
LLC upon the execution of this Agreement.
1.2 LLC NAME. The name of the limited liability company formed hereby
shall be "SCG International Development, LLC" and all business of the LLC shall
be conducted in such name or such other name as the Member shall determine. The
LLC shall hold all of its property in the name of the LLC and not in the name of
the Member.
1.3 PURPOSE. The purpose and the business of the LLC shall be to
conduct and transact any and all lawful business for which limited liability
companies may be organized under the Act.
1.4 POWERS. The LLC shall possess and may exercise all the powers and
privileges granted by the Act, all other applicable law or by this Agreement,
together with any powers incidental thereto, so far as such powers and
privileges are necessary or convenient to the conduct, promotion and attainment
of the business, purposes or activities of the LLC.
1.5 PRINCIPAL PLACE OF BUSINESS. The principal place of business of the
LLC shall be 0000 X. Xxxxxxxxx Xxxx, Xxxxxxxxxx, Xxxxxxxx, 00000, or at such
other location as may be designated by the Member from time to time.
1.6 TERM. The term of the LLC shall be perpetual unless and until the
LLC is dissolved by the Member or as set forth herein. The existence of the LLC
as a separate legal entity shall continue until the cancellation of the
Certificate of Formation of the LLC (the "CERTIFICATE") in the manner required
by the Act.
1.7 FILINGS; AGENT FOR SERVICE OF PROCESS.
(a) The Certificate has been or shall be filed in the office
of thc Secretary of State of the Stare of Delaware in accordance with
the provisions of the Act. The Member, as an "authorized person" within
the meaning of the Act, shall execute, deliver and file the Certificate
with the Secretary of State of the State of Delaware. The Member shall
take any and all other actions reasonably necessary to perfect and
maintain the status of the LLC under the laws of the State of Delaware.
The Member shall execute and file amendments to the Certificate
whenever required by the Act.
(b) The Member shall execute and file such forms or
certificates and may take any and all other actions as may be
reasonably necessary to perfect and maintain the status of the LLC
under the laws of any other states or jurisdictions in which the LLC
engages in business.
(c) The initial registered agent for service of process on the
LLC in the State of Delaware, arid the address of such registered
agent, shall be the agent for service of process set forth in the
Certificate. The Member may change the registered agent and appoint
successor registered agents.
(d) Upon the dissolution and completion of winding up of the
LLC, the Member (or, in the event the Member no longer exists, the
person responsible for winding up and dissolution of the LLC pursuant
to ARTICLE IV hereof) shall promptly execute and file a certificate of
cancellation of the Certificate in accordance with the Act and such
other documents as may be required by the laws of any other states or
jurisdictions in which the LLC has registered to transact business or
otherwise filed articles.
1.8 RESERVATION OF OTHER BUSINESS OPPORTUNITIES. No business
opportunities other than those actually exploited by the LLC shall be deemed the
property of the LLC, and the Member may engage in or possess an interest in any
other business venture, independently or with others, of any nature or
description, even if such venture or opportunity is in direct competition with
the business of thc LLC; and the LLC shall have no rights by virtue hereof in or
to such other business ventures, or to the income or profits derived therefrom.
ARTICLE II
MANAGEMENT AND MEMBERSHIP
2.1 MANAGEMENT OF LLC. The business and affairs of the LLC shall be
managed under the direction and by the approval of the Member. The Member agrees
to delegate this right and authority to manage and direct the management or the
business and affairs of the LLC and to make all decisions to be made by or on
behalf of the LLC to such managers as are appointed herein (the "OFFICERS" and
each an "OFFICER"). The Member hereby delegates to the Officers all power and
authority to manage, and direct the appointment of, the business and affairs of,
and to make all decisions to be made by the LLC. Approval by, or on behalf of
the LLC, consent of or action taken by any of the Officers shall constitute
approval or action by the LLC and shall be
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binding upon the LLC. Any Person dealing with the LLC shall be entitled to rely
on a certificate or any writing signed by an Officer as the duly authorized
action of the LLC.
2.2 OFFICERS. The Officers of the LLC shall not be required to be
Members of the LLC. Initially, the only Officer shall be the Chief Executive
Officer. Such other Officers as may be deemed necessary may be appointed by the
Chief Executive Officer or the Member and shall have such titles, power, duties
and term as may be prescribed by the Chief Executive Officer or the Member. The
Member may assign titles to particular officers. Unless the Member decides
otherwise, if the title is one commonly used for officers of a business
corporation formed under the General Corporation Law of the State of Delaware,
the assignment of such title shall constitute the delegation to such officer of
the authority and duties that are normally associated with that office, subject
to any restrictions on such authority imposed by the Member. Any number offices
may be held by the same person.
2.3 ELECTION OF OFFICERS AND TERM OF OFFICE. The initial Chief
Executive Officer shall be Xxxx X. Xxxxxxxxx. The Chief Executive Officer shall
be elected from time to time by the Member. Each Officer shall hold office until
a successor shall have been duly elected or appointed and shall have qualified
or until such Officer's death, resignation or removal in the manner provided
hereinafter.
2.4 REMOVAL OF OFFICERS. Any Officer may be removed by the Member
whenever in his judgment the best interests of the LLC would be served thereby.
The Chief Executive Officer may remove any Officer appointed by the Chief
Executive Officer.
2.5 VACANCIES. Any Officer who dies or resigns or is removed or
disqualified may be replaced by the Member for the unexpired portion of the
replaced Officer's term.
2.6 CHIEF EXECUTIVE OFFICER. The Chief Executive Officer shall be the
chief executive officer of the LLC and shall be generally in charge of all
business and affairs, subject to the control of the Member. The Chief Executive
Officer shall preside at all meetings of the Officers. The Chief Executive
Officer may execute on behalf of the LLC all contracts, agreements, certificates
and other instruments. The Chief Executive Officer shall from time to time
report to the Member all matters within the Chief Executive Officer's knowledge
affecting the LLC which should be brought to the attention of the Member. The
Chief Executive Officer shall vote all shares of stock or other interests in
other entities owned by the LLC, and shall be empowered to execute proxies,
waivers of notice, consents and other instruments in the name of the LLC with
respect to such stock or interest. The Chief Executive Officer shall perform
such other duties as are required by the Member.
2.7 WRITTEN CONSENT. Any action requiring the vote, consent, approval
or action of the Member may be taken by a consent in writing, setting forth the
action so taken, by the Member. Any action requiring the vote, consent, approval
or action of any of the Officers or any group of Officers may be taken by a
consent in writing, setting forth the action to be taken, by such Officer or
Officers.
2.8 BOOKS AND RECORDS. The Chief Executive Officer shall keep, or shall
designate an individual to keep, proper and usual books and records pertaining
to the business of the LLC. The books and records of the LLC shall be kept at
the principal office of the LLC or at such
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other places, within or without the State of Delaware, as the Member shall from
time to time determine.
2.9 SALARY. No salary shall be paid to the Member or to any Officer for
its duties set forth hereunder.
2.10 RESIGNATION. Subject to SECTION 4.1, the Member may resign from
the LLC.
2.11 LIMITED LIABILITY.
(a) Except as otherwise provided by the Act, the debts,
obligations and liabilities of the LLC, whether arising in contract,
tort or otherwise, shall be solely the debts, obligations and
liabilities of the LLC, and the Member shall not be obligated
personally for any such debt, obligation or liability of the LLC solely
by reason of being a member of the LLC.
(b) To the extent that at law or in equity, the Member, an
Officer or any other party shall have duties (including fiduciary
duties) and liabilities to the LLC, such duties and liabilities may be
restricted by provisions of this Agreement. None of the Member or any
Officer shall be liable to the LLC (or, in the case of an Officer, to
the Member) for any loss, damage or claim incurred by reason of any act
or omission performed or omitted by the Member or such Officer in good
faith on behalf of the LLC and in a manner reasonably believed to be
within the scope of authority conferred on the Member or such Officer
by this Agreement.
(c) The Member and each of the Officers shall be fully
protected in relying in good faith upon the records of the LLC and upon
such information, opinions, reports or statements presented to the LLC
by any person as to the matters the Member or such Officer reasonably
believes are with in such other person's professional or expert
competence and who has been selected within reasonable care by or on
behalf of the LLC, including information, opinions, reports or
statements as to the value and amount of the assets, liabilities,
profits, losses or net cash flow or any other facts pertinent to the
existence and amount of assets from which distributions to the Member
might properly be paid.
(d) Any repeal or modification of this SECTION 2.11 shall not
adversely affect any right or protection of the Member or any Officer
existing prior to such repeal or modification.
2.12 INDEMNIFICATION.
(a) The LLC shall indemnify and hold harmless the Member, each
Officer and each of their respective affiliates, officers, directors,
shareholders, agents or employees (the "PARTIES") from and against any
loss, expense, damage or injury suffered or sustained by the Parties
(or any of them) by reason of any acts, omissions or alleged acts or
omissions arising out of its or their activities on behalf of the LLC
or in furtherance of the interests of the LLC, including, but not
limited to, any judgment, award, settlement, reasonable attorney's fees
and other costs or expenses incurred in connection with the
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defense of any actual or threatened action, proceeding or claim;
PROVIDED that the acts, omissions or alleged acts or omissions of such
Party are not found by a court of competent jurisdiction upon entry of
a final judgment to constitute bad faith, gross negligence or willful
misconduct by such Party. Such indemnification shall be made only to
the extent of the assets of the LLC.
(b) To the fullest extent permitted by applicable law,
expenses, (including legal fees) incurred by a Party (or any of them)
in defending any claim, demand, action, suit or proceeding shall, from
time to time, be advanced by the LLC prior to the final disposition of
such claim, demand, action, suit or proceeding upon receipt by the LLC
of an undertaking by or on behalf of the Party (or any of them) to
repay such amount if it shall be determined that the Party is not
entitled to be indemnified as authorized in this SECTION 2.12 hereof.
2.13 TRANSFER OF INTEREST. The Member may transfer or assign all or a
portion of its interests in the LLC. Upon a transfer of the Member's entire
interest in the LLC, such transferee or assignee shall become the "Member" for
all purposes of this Agreement. Upon a transfer or assignment of less than the
Member's entire interest the LLC, the Member and such transferee or assignee
shall amend this Agreement to reflect such transfer or assignment, or if the
terms of such an amendment shall not be agreed upon, the Member may elect to
dissolve the LLC in its sole discretion.
2.14 NO TAX ELECTION. The Member shall not make an election to have the
Company treated as an association taxable as a corporation for federal income
tax purposes.
ARTICLE III
FISCAL MATTERS
3.1 DEPOSITS. All funds of the LLC shall be deposited in an account or
accounts in such banks, trust companies or other depositories as the Member may
select.
3.2 FINANCIAL RECORDS. All financial records shall be maintained and
reported using GAAP, consistently applied.
3.3 FISCAL YEAR. The fiscal year of the LLC shall begin on the first
day of January each year (except for the first fiscal year of the LLC, which
shall begin on the date of this Agreement) and end on the last day of December
each year (except for the last fiscal year of the LLC, which shall end on the
date on which the LLC is terminated), unless otherwise determined by the Member.
3.4 AGREEMENTS, CONSENTS, CHECKS, ETC. All agreements, consents,
checks, drafts or other orders for the payment of money, and all notes or other
evidences of indebtedness issued in the name of the LLC shall be signed by the
Member or those persons authorized from time to time by the Member.
3.5 TRANSACTIONS WITH THE MEMBER. Except as provided in the Act, the
Member may lend money to, borrow money from, act as surety, guarantor or
endorser for, guarantee or assume
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one or more obligations of, provide collateral for, and transact other business
with the LLC and has the same rights and obligations with respect to any such
matter as a person who is not the Member.
3.6 CONTRIBUTION.
(a) The Member shall make the contribution of capital described for
that Member on EXHIBIT A (the "INITIAL CONTRIBUTION"). If no time for the
Initial Contribution is specified, the Initial Contribution shall be made upon
the filing of the Certificate with the Secretary of State. The value of the
Initial Contribution shall be as set forth on EXHIBIT A. No interest shall
accrue on any contribution and the Member shall not have the right to withdraw
or be repaid any contribution except as provided herein.
(b) In addition to the Initial Contribution, the Member may make
additional contributions. Except to the extent of any outstanding commitment of
the Member to make a contribution, the Member shall not be obligated to make any
additional contributions. The Member shall adjust the contribution reflected on
EXHIBIT A at any time when the Member makes or promises to make a contribution
to the LLC.
3.7 DISTRIBUTIONS. The Company may make distributions as determined by
the Member from time to time in accordance with this Agreement; PROVIDED
HOWEVER, that no distribution shall be declared and paid unless, after the
distribution is made, the assets of the LLC are in excess of the liabilities of
the LLC and such distribution does not violate the Act or other applicable law.
The Member may, at its sole discretion, elect to receive a distribution from
assets other than cash.
ARTICLE IV
LIQUIDATION
4.1 LIQUIDATING EVENTS. The LLC shall dissolve and commence winding up
and liquidation only upon the first to occur of any of the following
("LIQUIDATION EVENTS"):
(a) The sale of all or substantially all of the property of
the LLC;
(b) The resignation of the Member or any other event that
causes the last remaining member of the LLC to cease to be a member of
the LLC, unless the business of the LLC is continued in a manner
permitted by the Act; or
(c) The entry of a decree of judicial dissolution pursuant to
Section 18-802 of the Act.
4.2 WINDING UP. Upon the occurrence of a Liquidating Event, the LLC
shall continue solely for the purpose of winding up its affairs in an orderly
manner, liquidating its assets and satisfying the claims of its creditors and
Member. The Member shall not take any action which is inconsistent with, or
necessary to or appropriate for, the winding up of the LLC's business and
affairs. The Member (or in the event that the Member is dead or no longer
exists, the person responsible for winding up the Member's business and affairs)
shall be responsible for
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overseeing the winding up and dissolution of the LLC and shall take full account
of the LLC's liabilities. The property of the LLC shall be liquidated as
promptly as is consistent with obtaining the fair value thereof, and the
proceeds therefrom, to the extent sufficient, shall be applied and distributed,
subject to any reasonable reserves maintained for contingent, conditional or
unmatured obligations of the LLC, in the following order:
(a) FIRST, to the satisfaction (whether by payment or the
making of reasonable provision for payment thereof) of all of the LLC's
debts and liabilities to creditors other than the Member;
(b) SECOND, to the satisfaction (whether by payment or the
making of reasonable provision for payment thereof) of all of the LLC's
debts and liabilities to the Member; and
(c) THE BALANCE, if any, to the Member.
4.3 MEMBER'S BANKRUPTCY. The Member shall not cease to be the Member
solely as a result of the occurrence of any of the following and upon the
occurrence of any such event, the business of the LLC shall continue without
dissolution:
(a) the Member makes an assignment for the benefit of
creditors;
(b) the Member files a voluntary petition in bankruptcy;
(c) the Member is adjudged a bankrupt or insolvent, or has
entered against him an order of relief, in any bankruptcy or insolvency
proceeding;
(d) the Member files a petition or answer seeking for himself
any reorganization, arrangement, composition, readjustment,
liquidation, dissolution or similar relief under any statute, law or
regulation;
(e) the Member files an answer or other pleading admitting or
failing to contest the material allegations of a petition filed against
him in any proceeding of this nature;
(f) the Member seeks, consents, to or acquiesces in the
appointment of a trustee, receiver or liquidator of the member or of
all or any substantial part of his properties;
(g) any proceeding against the Member seeking reorganization,
arrangement, composition, readjustment, liquidation, dissolution or
similar relief under any statute, law or regulation is not dismissed;
or
(h) appointment of a trustee, receiver or liquidator of the
Member.
4.4 ACCOUNTING ON LIQUIDATION. Upon liquidation, a proper accounting
shall be made by the LLC's accountants of the LLC's assets, liabilities and
results of operations through the last day of the month in which the LLC is
terminated.
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ARTICLE V
MISCELLANEOUS
5.1 AMENDMENTS. This Agreement may be altered, amended or repealed, or
a new Agreement may be adopted, upon the written consent of the Member.
5.2 BINDING EFFECT. Except as otherwise provided in this Agreement,
every covenant, term and provision of this Agreement shall be binding upon and
inure to the benefit of the Member and its respective heirs, legatees, legal
representatives, successors, transferees and assigns.
5.3 CREDITORS. None of the provisions of this Agreement shall be for
the benefit of or enforced by any creditor of the LLC or Member.
5.4 CONSTRUCTION. The Member shall have the full power and authority to
construe and interpret this Agreement.
5.5 HEADINGS. Section and other headings contained in this Agreement
are for reference purposes only and are not intended to describe, interpret,
define or limit the scope, extent or intent of this Agreement or any provision
hereof.
5.6 SEVERABILITY. Every provision of this Agreement is intended to be
severable. If any term or provision hereof is illegal or invalid for any reason
whatsoever, such illegality or invalidity shall not affect the validity or
legality of the remainder of this Agreement.
5.7 VARIATION OF PRONOUNS. All pronouns and any variations thereof
shall be deemed to refer to masculine, feminine or neuter, singular or plural,
as the identity of the person or persons may require.
5.8 GOVERNING LAW. The laws of the State of Delaware shall govern the
validity of this Agreement, the construction of its terms, and the
interpretation of the rights and duties of the Member, without regard to the
principles of conflicts of laws.
[signature page follows]
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IN WITNESS WHEREOF, the Member has executed this Agreement as
of the day first above set forth.
SEMICONDUCTOR COMPONENTS
INDUSTRIES, LLC
By: /s/ Xxxx X. Xxxxxxxxx
--------------------------------
Name: Xxxx X. Xxxxxxxxx
Title: Chief Executive Officer
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EXHIBIT A
CAPITAL CONTRIBUTIONS OF MEMBER
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CAPITAL CONTRIBUTION PERCENTAGE INTEREST
NAME
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Semiconductor Components Industries, LLC $10.00 100%
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TOTAL $10.00 100%
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AMENDMENT TO THE
LIMITED LIABILITY COMPANY AGREEMENT
OF SCG INTERNATIONAL DEVELOPMENT LLC
Semiconductor Components Industries, LLC, being the sole member of SCG
International Development LLC (the "Company"), amended the Limited Liability
Company Agreement of the Company by a written consent dated August 4, 1999 as
follows:
Section 1.4 was amended to add the following immediately before the
period at the end of Section 1.4 thereof:
", and, without limiting the foregoing, shall possess and may exercise
all of the powers that are exercisable under Section 121 and 122 under the
Delaware General Corporation Law by a Delaware corporation."
Section 2.13 was amended to add the following at the end of Section 2.13:
"A Member's interest in the LLC may be evidenced by a certificate of
limited liability company interest issued by the LLC."