Initial Operating Agreement is defined in the recitals of this Agreement.
Initial Operating Agreement shall have the meaning set forth in the preamble of this Agreement.
Initial Operating Agreement has the meaning set forth in the recitals.
Examples of Initial Operating Agreement in a sentence
Nothing in this Agreement shall modify, amend, terminate or supersede any obligations or rights of any Member or the Company under any agreement between or among Member(s) and/or the Company (other than the Initial Operating Agreement) that is in effect as of the date hereof.
More Definitions of Initial Operating Agreement
Initial Operating Agreement means the first operating agreement ----------------------------- of the Company adopted as of October 15, 1999. (q) "Involuntary TransferInvoluntary Transfer" means any transaction, ------------------------------------------ proceeding or action by or in which any Member shall be involuntarily deprived or divested of any right, title or interest in or to any of the Membership Interests, including, without limitation, any seizure under levy of attachment or execution, transfer in connection with bankruptcy or other court proceeding to a trustee in bankruptcy or receiver or other officer of agency, any transfer to a state or to a public officer or agency pursuant to any applicable statute pertaining to escheat or abandoned property or any court-ordered transfer to a spouse or former spouse of a Member, and shall include the transfer of Membership Interests by a Member's legal representative following his death (testate or intestate) or incompetence to any person other than a Permissible Transferee of such deceased or incompetent Member. (r) "Liquidity ClosingClosing" shall have the meaning set forth in 15.3 (b). ----------------- (s) "Liquidity Offer" shall have the meaning set forth in 15.3 (a). ---------------- (t) "ManagerManager" shall mean a person elected to the Board of Managers in -------------- accordance with Section 11.1. (u) "MemberMember" shall mean the Members and each other person or entity ------------ admitted to membership in the Company whose names, Capital Contributions and Percentage Interests are set forth on Exhibit 6.1 and all Counterparts. ------------ (v) "Membership Interests" means a Person's share of the Profits and Losses --------------------- of, and the right to receive distribution from the Company. (w) "Percentage InterestPercentage Interest" shall have the meaning set -------------------------------------- forth in Section 6.1. (x) "Permissible Transferee" shall have the meaning set forth in Section ----------------------- 13.1
Initial Operating Agreement shall have the meaning assigned to that term in the Whereas clauses above.
Initial Operating Agreement means the Operating Agreement of Constellation Energy Resources LLC (formerly CBM Equity IV Holdings, LLC), dated as of February 7, 2005, as amended through the date of this Agreement, including by the Amended and Restated Operating Agreement of Constellation Energy Resources LLC, dated as of May 9, 2006.
Initial Operating Agreement. As defined in Recital C.
Initial Operating Agreement has the meaning assigned thereto in the Introduction.
Initial Operating Agreement has the meaning set forth in the recitals. "MAJORITY INTEREST" means Percentage Interests of one or more Members that taken together exceed fifty percent (50%) of the aggregate of all Percentage Interests. "MANAGERS" has the meaning set forth in Section 5.2.1. 2 <Page> "MEMBER" means each Person who (a) is an initial signatory to this Agreement or has been admitted to the Company as a Member in accordance with this Agreement and (b) has not resigned, withdrawn, been expelled or dissolved. "NET REVENUE" means gross revenues earned and actually collected, less any applicable withholding taxes. "OPTIONAL ADDITIONAL CAPITAL CONTRIBUTION" has the meaning set forth in Section 3.3. "PEGI" has the meaning set forth in the preamble. "PEI" has the meaning set forth in the recitals. "PEII" has the meaning set forth in the recitals. "PERCENTAGE INTERESTS" means the percentage of a Member set forth opposite the name of such Member under the column "Member's Percentage Interest" in Exhibit A hereto, as such percentage may be adjusted from time to time pursuant to the terms of this Agreement. "PERSON" means an individual, general partnership, limited partnership, limited liability company, corporation, trust, estate, real estate investment trust, association or any other entity. "RESTRUCTURING" has the meaning set forth in the recitals. "TERM" has the meaning set forth in Section 8.1. "VSI" has the meaning set forth in the recitals. ARTICLE 2 ORGANIZATIONAL MATTERS 2.1
Initial Operating Agreement means a Joint Operating Agreement by and between Meridian, as operator, and PRCT, as non-operator, executed on the date of execution of this Agreement.