Examples of Parent Operating Agreement in a sentence
Except for Distributions incident to the ----------------------- Company's Dissolution and Liquidation (which will be governed by 12.4), and except as provided in Section 3.11, Available Cash will be distributed quarterly to the Members in the following order and priority: [a] First, 100% to the Parent Member until the distribution required under 5.1[a] of the Parent Operating Agreement has been completed; and [b] Thereafter, to the Members in accordance with their Ownership Interests.
After such assignment, the Member to which such rights have been assigned may use or transfer such rights, subject, in any event, to any restriction on the use or transfer thereof imposed by this Agreement, the Parent Operating Agreement, or the Parents Agreement.
To avoid duplication of reimbursements payable by the Parent under the Parent Operating Agreement and to the Manager under this Agreement, no fee will be payable to the Manager hereunder for Shares issued to the Parent in connection with an offering of interests in the Parent where the proceeds from such issuance are then invested by the Parent in Shares.
The Parent Operating Agreement will be in the form attached as Exhibit D hereto.
Parent has made available to the Company complete and correct copies of (a) the Parent Charter and Parent Bylaws, (b) the Parent OP Certificate of Formation and the Parent Operating Agreement, and (c) the organizational documents of each of Parent Merger Sub and Parent OP Merger Sub, in each case as in effect on the date hereof.