Second Amended and Restated Operating Agreement definition
Second Amended and Restated Operating Agreement has the meaning set forth in the recitals.
Second Amended and Restated Operating Agreement means this Second Amended and Restated Operating Agreement entered into effective as of the Effective Date. (h) “Articles of Organization” means the articles of organization of the Company, publicly filed with the Secretary of the State of North Dakota on July 16, 2003 to organize the Company, as amended. (i) “BBA” has the meaning set forth in Section 10.3(a). (j) “BBA Procedures” has the meaning set forth in Section 10.3(c). (k) “Board” or the “Board of Governors” means the Governors, acting as a group with the powers set forth in the Articles of Organization and this Agreement. (l) “Book Value” means, with respect to any Company asset, the adjusted basis of such asset for federal income tax purposes, except as follows: (i) the initial Book Value of any Company asset contributed by a Person to the Company shall be the gross Fair Market Value of such Company asset as of the date of such contribution; (ii) immediately before the distribution by the Company of any Company asset to a Person, the Book Value of such asset shall be adjusted to its gross Fair Market Value as of the date of such distribution; (iii) the Book Value of all Company assets shall be adjusted to equal their respective gross Fair Market Values, as determined by the Board, as of the following times:
Second Amended and Restated Operating Agreement means that certain Second Amended and Restated Limited Liability Company Agreement of discoverReady LLC, dated as of November 1, 2009, by and between the Minority Member and the Company which superseded in its entirety the First Amended and Restated Operating Agreement.
Examples of Second Amended and Restated Operating Agreement in a sentence
Further, if any such amendment would change the portion of distributions or allocation of profits or losses to be received by any classes of Units as described in this Second Amended and Restated Operating Agreement (other than the issuance of additional units under Section 4.3), such amendment would require the affirmative vote of the Members who hold at least seventy five percent (75%) of all outstanding Units.
More Definitions of Second Amended and Restated Operating Agreement
Second Amended and Restated Operating Agreement has the meaning set forth in the preamble to this Agreement.