Exhibit 3.9
LIMITED LIABILITY COMPANY AGREEMENT
OF
AMERICA'S COUNTRY STORES, LLC
This Limited Liability Company Agreement (the "Agreement") of America's
Country Stores, LLC is entered into by America's County Stores Holdings, LLC (as
successor by conversion to America's Country Stores Holdings, Inc.), as the
sole member (the "Member").
WHEREAS, America's Country Stores, Inc. (the "Corporation"), was formed as
a Delaware corporation on August 8, 2000;
WHEREAS, by unanimous written consent, the board of directors of the
Corporation adopted a resolution adopting and approving the conversion of the
Corporation to a Delaware limited liability company and the adoption of this
Agreement, and recommending the adoption of such conversion and this Agreement
to the sole stockholder of the Corporation, pursuant to Section 266 of the
General Corporation Law of the State of Delaware (the "GCL");
WHEREAS, by written consent, the sole stockholder of the Corporation
adopted and approved the conversion of the Corporation to a limited liability
company and the adoption of this Agreement pursuant to Section 266 of the GCL;
WHEREAS, on the date hereof, the Corporation was converted to a limited
liability company pursuant to Section 18-214 of the Delaware Limited Liability
Company Act (6 Del.C Section 18-101 et seq.), as amended from time to time (the
"Act") and Section 266 of the GCL by causing the filing with the Secretary of
State of the State of Delaware of a Certificate of Conversion to Limited
Liability Company (the "Certificate of Conversion") and a Certificate of
Formation of the Company, as hereinafter defined (the "Certificate") (together,
the "Conversion"); and
WHEREAS, pursuant to this Agreement and the Conversion, the successor by
conversion to the sole stockholder of the Corporation is admitted as a member
of the Company owning all of the limited liability company interests in the
Company.
The Member, by execution of this Agreement, hereby forms a limited
liability company pursuant to and in accordance with the Act and hereby agrees
as follows:
1. FORMATION OF THE COMPANY; CONVERSION OF THE CORPORATION. Effective as
of the time of the Conversion, (i) the Certificate of Incorporation of the
Corporation, as amended, and the By-Laws of the Corporation, as amended, are
replaced and superseded in their entirety by this Agreement in respect of all
periods beginning on or after the
Conversion, (ii) the successor by conversion to the sole stockholder of the
Corporation is hereby automatically admitted as a member of the Company owning
all of the limited liability company interests in the Company, (iii) the Member
is continuing the business of the Corporation without dissolution in the form
of a Delaware limited liability company governed by this Agreement, and (iv) in
accordance with Section 18-214(g) of the Act, the Company shall constitute a
continuation of the existence of the Corporation in the form of a Delaware
limited liability company and, for all purposes of the laws of the State of
Delaware, shall be deemed to be the same entity as the Corporation. Xxxxxx X.
Xxxxx is hereby designated as an "authorized person" within the meaning of the
Act, and has executed, delivered and filed the Certificate and the Certificate
of Conversion with the Secretary of State of the State of Delaware. Upon the
filing of the Certificate and the Certificate of Conversion with the Secretary
of State of the State of Delaware, her powers as an "authorized person" ceased,
and each of the Member and the Officers (as hereinafter defined), acting alone,
thereupon became a designated "authorized person" to execute, deliver and file
any amendments and/or restatements of the Certificate and any other certificates
(and any amendments and/or restatements thereof) permitted or required to be
filed with the Secretary of State of the State of Delaware, and shall continue
as a designated "authorized person" within the meaning of the Act. The Member or
an Officer, acting alone, shall execute, deliver and file any other
certificates, affidavits and other documentation (and any amendments and/or
restatements thereof) necessary to qualify the Company as a foreign limited
liability company in any state or other jurisdiction in which such qualification
is required by law.
2. NAME. The name of the limited liability company formed hereby is
America's Country Stores, LLC (the "Company").
3. CERTIFICATES. The Member, as an authorized person, within the meaning
of the Act, shall execute, deliver and file, or cause the execution, delivery
and filing of, all certificates required or permitted by the Act to be filed in
the Office of the Secretary of State of the State of Delaware.
4. PURPOSES. 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.
5. 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, and own, hold, sell, convey, transfer or dispose of, any real or
personal property that may be necessary, convenient or incidental to the
accomplishment of the purposes of the Company;
(b) act as a trustee, executor, nominee, bailee, agent or in some
other fiduciary capacity for any person or entity and exercise all of the
powers, duties, rights and responsibilities associated therewith;
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(c) take any and all actions necessary, convenient or appropriate as
trustee, executor, nominee, bailee, 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 that 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) guaranty indebtedness of the Member or any other direct or
indirect parent, subsidiary or affiliate of the Company or, in furtherance of
any or all of the purposes of the Company, any other person or entity, and
secure the same by mortgage, pledge or other lien on the assets of the Company;
(g) lend or invest any funds of the Company pending distribution or
payment of the same pursuant to the provisions of this Agreement;
(h) 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;
(i) enter into, perform and carry out contracts of any kind,
including, without limitation, contracts with the Member or 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;
(j) employ or otherwise engage employees, managers, officers,
contractors, advisors, attorneys and consultants and pay reasonable
compensation for such services;
(k) establish and carry out pension, profit sharing, retirement,
benefit, incentive and compensation plans, trusts and provisions for any or all
of its employees, managers, officers or consultants, and for any or all of the
employees, managers, officers and consultants of its direct and indirect
subsidiaries;
(l) enter into or form partnerships, limited liability companies,
trusts, associations, corporations or other ventures either alone or with other
persons or entities in furtherance of the purposes of the Company;
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(m) make donations for the public welfare or for charitable,
scientific or educational purposes, and in time of war or other national
emergency in aid thereof; and
(n) 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.
6. PRINCIPAL BUSINESS OFFICE. The principal business office of the
Company shall be located at such location as may hereafter be determined by the
Member.
7. REGISTERED OFFICE. The address of the registered office of the
Company in the State of Delaware is c/o The Corporation Trust Company,
Corporation Trust Center, 0000 Xxxxxx Xxxxxx, Xxxxxxxxxx, Xxx Xxxxxx Xxxxxx,
Xxxxxxxx 00000.
8. 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 are The
Corporation Trust Company, Corporation Trust Center, 0000 Xxxxxx Xxxxxx,
Xxxxxxxxxx, Xxx Xxxxxx Xxxxxx, Xxxxxxxx 00000.
9. MEMBERS. The name and the mailing address of the Member are as
follows:
Name Address
---- -------
America's Country Stores Holdings, 0000 Xxxxxxxxx Xxxxxx Xxxxx
LLC (as successor by conversion to Xxxxx Xxxxx, Xxxxxxxxx 00000
America's Country Stores Holdings,
Inc.)
10. 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.
11. CAPITAL CONTRIBUTIONS. The Member is deemed admitted as the member of
the Company upon its execution and delivery of this Agreement. The Member shall
be deemed to have contributed to the Company an amount equal to the fair market
value of the assets of the Corporation less the fair market value of the
liabilities of the Corporation.
12. ADDITIONAL CONTRIBUTIONS. The Member is not required to make any
additional capital contribution to the Company. However, the Member may at any
time make additional capital contributions to the Company.
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13. ALLOCATION OF PROFITS AND LOSSES. The Company's profits and losses
shall be allocated solely to the Member.
14. 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.
15. 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.
Notwithstanding any other provision of this Agreement, the Member is authorized
to execute and deliver any document on behalf of the Company without any vote or
consent of any other person.
16. OFFICERS. The Member may, from time to time as it deems advisable,
select natural persons who are employees or agents of the Company and designate
them as officers of the Company (the "Officers") and assign titles (including,
without limitation, President, Vice President, Secretary, and Treasurer) to any
such person. Unless the Member decides otherwise, if the title is once commonly
used for officers of a business corporation formed under the GCL, 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 16 may be revoked at any time by the
Member. An Officer may be removed with or without cause by the Member. The
persons serving as officers of the Corporation immediately prior to the
Conversion shall be the initial Officers, each holding such offices with the
Company as such person held with the Corporation immediately prior to the
Conversion.
17. OTHER BUSINESS. The Member may engage in or possess an interest in
other business ventures 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.
18. EXCULPATION AND INDEMNIFICATION. No Member or Officer shall be
liable to the Company or 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
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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 or willful misconduct with respect to such acts or omissions; provided,
however, that any indemnity under this Section 18 shall be provided out of and
to the extent of Company assets only, and the Member shall have no personal
liability on account thereof.
19. ASSIGNMENTS. The Member may at any time assign in whole or in part
its limited liability company interest in the Company. If the Member transfers
all of its interest in the Company pursuant to this Section 19, the transferee
shall be admitted to the Company as a member 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.
20. RESIGNATION. The Member may at any time resign from the Company. If
the Member resigns pursuant to this Section 20, an additional member shall be
admitted to the Company, subject to Section 21 hereof, 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.
21. ADMISSION OF ADDITIONAL MEMBERS. One or more additional members of
the Company may be admitted to the Company with the written consent of the
Member.
22. 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) at any time there are no members of the Company unless, within 90
days of the occurrence of the event that terminated the continued membership of
the last remaining member of the Company (the "Termination Event"), the
personal representative (as defined in the Act) of the last remaining member
agrees in writing to continue the Company and to the admission to the Company
of such personal representative or its nominee or designee as a member,
effective as of the occurrence of the Termination Event, and such personal
representative or its nominee or designee shall be admitted upon its execution
of an instrument signifying its agreement to be bound by the terms and
conditions of this Agreement, or (iii) the entry of a decree of judicial
dissolution under Section 18-802 of the Act.
(b) The bankruptcy of the Member shall not cause the 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.
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(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.
23. 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 that are valid,
enforceable and legal.
24. ENTIRE AGREEMENT. This Agreement constitutes the entire agreement of
the Member with respect to the subject matter hereof.
25. 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.
26. AMENDMENTS. This Agreement may not be modified, altered, supplemented
or amended except pursuant to a written agreement executed and delivered by the
Member.
27. SOLE BENEFIT OF MEMBER. The provisions of this Agreement (including
Section 11) are intended solely to benefit the Member and, to the fullest
extent permitted by applicable law, shall not be construed as conferring any
benefit upon any creditor of the Company (and no such creditor shall be a
third-party beneficiary of this Agreement), and the Member shall have no duty
or obligation to any creditor of the Company to make any contributions or
payments to the Company.
'
28. CERTAIN TAX MATTERS. It is the intention of the Company and the
Member that the Company be disregarded as an entity separate from its owner for
federal income tax purposes in accordance with Treasury Regulation Section
301.7701-3.
IN WITNESS WHEREOF, the undersigned, intending to be legally bound hereby,
has duly executed this Agreement as of the 11th day of October, 2001.
AMERICA'S COUNTRY STORES
HOLDINGS, LLC (as successor by
conversion to America's Country
Stores Holdings, Inc.)
By: /s/ XXXXX XXXXXXXXX
-----------------------------
Name: Xxxxx Xxxxxxxxx
Title: President
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