Examples of Company Property in a sentence
The Members will look solely to the Company Property for the return of their capital and, if the assets of the Company remaining after payment or discharge of the debts and liabilities of the Company are insufficient to return such capital, they will have no recourse against the Manager or its affiliates for such purpose.
The Manager will have the sole and exclusive right to manage, control and conduct the affairs of the Company and to manage the Company Property.
Ownership of Company Property (Applies ONLY if Multi-Member): The Company's assets shall be deemed owned by the Company as an entity, and the Member(s) shall have no ownership interest in such assets or any portion thereof.
The Company shall indemnify the Manager, in its individual capacity, from and against any and all liabilities, obligations, losses, damages, taxes, claims, actions, suits, costs, expenses and disbursements including reasonable attorneys’ fees and expenses which may be imposed on, incurred by or asserted at any time against them, in their individual capacities (and solely with respect to the Manager, not indemnified against by any other Persons) which relate to or arise out of the Company Property.
Nor can the Development Property be used as centrally assessed property (including but not limited to, Iowa Code § 428.24 to 428.29 (Public Utility Plants and Related Personal Property); Chapter 433 (Telegraph and Telephone Company Property); Chapter 434 (Railway Property); Chapter 437 (Electric Transmission Lines); Chapter 437A (Property Used in the Production, Generation, Transmission or Delivery of Electricity or Natural Gas); and Chapter 438 (Pipeline Property)).