Delaware LLC Act definition

Delaware LLC Act means the Delaware Limited Liability Company Act.

Delaware LLC Act means Chapter 18 of the Delaware Limited Liability Company Act, 6 Del. C. §§ 18-101 et seq., as amended.

Delaware LLC Act means the Delaware Limited Liability Company Act and any successor statute, as amended, supplemented or restated and in effect from time to time.

Examples of Delaware LLC Act in a sentence

• Upon payment in full of the consideration payable with respect to the common shares, as determined by our Manager, the holders of such shares will not be liable to us to make any additional capital contributions with respect to such shares (except for the return of distributions under certain circumstances as required by Sections 18-215, 18-607 and 18-804 of the Delaware LLC Act).

• Upon dissolution, the LLC shall cease carrying on its business but shall not terminate until the winding up of the affairs of the LLC is completed, the assets of the LLC shall have been distributed as provided below and a Certificate of Cancellation of the LLC under the Delaware LLC Act has been filed with the Secretary of State of the State of Delaware.

• The failure of the LLC to observe any formalities or requirements relating to the exercise of its power or management of its business or affairs under the Delaware LLC Act or this Agreement shall not be grounds for imposing personal liability on the Member, or any director, manager, officer, employee, shareholder, controlling person or agent of the LLC or the Member for liabilities of the LLC.

• Section 215(e) of the Delaware LLC Act also specifically authorizes the creation of ownership interests of different classes of limited liability company interests, having such relative rights, powers and duties as the limited liability company agreement may provide, and may make provision for the future creation in the manner provided in the limited liability company agreement of additional classes of membership interests.

• The liquidator shall proceed diligently to wind up the affairs of the Company and make final distributions as provided herein and in the Delaware LLC Act.

More Definitions of Delaware LLC Act

Delaware LLC Act has the meaning assigned to such term in the recitals.

Delaware LLC Act shall have the meaning specified in Section 3.02.

Delaware LLC Act has the meaning as set forth in the Recitals of this Agreement.

Delaware LLC Act is defined in the recitals.

Delaware LLC Act means the Delaware Limited Liability Company Act as in effect on the date of this Agreement and as amended, restated or replaced from time to time thereafter.

Delaware LLC Act means the Delaware Limited Liability Company Act, as amended from time to time. “Delaware LP Act” means the Delaware Revised Uniform Limited Partnership Act, as amended from time to time. “De Minimis Claim” is defined in Section 8.3(a).

Delaware LLC Act has the meaning assigned to such term in Item A1 of the Recitals of this Agreement.