Previous Operating Agreement definition

Previous Operating Agreement means that certain Operating Agreement dated March 28, 1940, as amended by agreements dated June 15, 1953 and October 14, 1970.
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Previous Operating Agreement has the meaning given to it in the Preamble. (vv) “Reclassification Date” means the date that the Board of Managers approves the reclassification of the Units which shall be the same date as the Effective Date. (ww) “Regulatory Allocations” has the meaning set forth in Section 9.5(h). (xx) “Reorganization” means the exchange of all of the assets and liabilities of Lake Area Corn Processors, a previous South Dakota cooperative corporation, for the outstanding Units of the Company, pursuant to the Plan of Reorganization of the Company, dated July 25, 2001, as described in the Previous Operating Agreement. (yy) “Reserves” means, with respect to any fiscal period, funds set aside or amounts allocated during such period to reserves which shall be maintained in amounts deemed sufficient by the Manager for working capital, to pay taxes, insurance, debt service, or other costs or expenses incident to the ownership or operation of the Company’s business, and to provide for future acquisitions or other investments. (zz) “Second Amendment” has the meaning set forth in the Preamble. (aaa) “Substitute Member” means any Person or Entity who or which is admitted to the Company as a Substitute Member pursuant to a Transfer of Units in accordance with Section 10 and Section 11. (bbb) “Super Majority Vote of the Board of Managers” means the affirmative vote of at least seventy-five (75%) of the total number of Managers elected to the Board of Managers. (ccc) “Taxing Authority” means any federal, state, local, or foreign taxing authority. (ddd) “Third A&R OA” has the meaning set forth in the Preamble. (eee) “Third Amendment” has the meaning set forth in the Preamble. (fff) “Transfer” means any sale, transfer, gift, assignment, testamentary disposition or any other transaction where the economic or governance rights connected to a Unit are transferred from one Person to another. However, “Transfer” shall not include the mortgage, pledge or grant of a security interest on any Units. The terms “Transferee,” “Transferred,” and other forms of the word “Transfer” shall have correlative meanings. (ggg) “Transferee” has the meaning set forth in Section 10.2(d). (hhh) “Transferor” has the meaning set forth in Section 10.2(d). (iii) “Treasury Regulations” means the Income Tax Regulations, including temporary regulations, promulgated under the Code, as amended from time to time. (jjj) “Units” means a unit representing a fractional part of Interests of the Members. There are four (4) cl...
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Previous Operating Agreement. The ▇▇▇▇▇▇ Holdings LLC Operating Agreement as amended March 1, 2001.
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Examples of Previous Operating Agreement in a sentence

  • For purposes of this Section 3.3(d), "Previous Operating Agreement" means that certain Operating Agreement dated March 28, 1940, as amended by agreements dated June 15, 1953 and October 14, 1970.

  • Prior to such date, the committee under the Previous Operating Agreement shall continue as the Committee.

  • An Owner’s balance of Deferred Compensation related to real estate as of September 30, 2001 under the Previous Operating Agreement divided by the total equivalent balances of all Owners.

  • When former Owners are included in the allocation pursuant to Section 4.01, their percent shall be determined based on their balance of Deferred Compensation related to real estate at the time they ceased being Owners, with adjustments for all Owners based on the timing or expected timing of receipt of payments and based on other adjustments described in the IPO Plan adopted pursuant to the Previous Operating Agreement.


More Definitions of Previous Operating Agreement

Previous Operating Agreement shall have the meaning set forth in the Preamble.
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Previous Operating Agreement means that certain Operating Agreement dated March 28, 1940, as amended by
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Previous Operating Agreement has the meaning set forth in the recitals to this Agreement.
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