ALLOCATIONS TO ADDITIONAL MEMBERS AND SUBSTITUTE MEMBERS Clause Samples

The "Allocations to Additional Members and Substitute Members" clause defines how profits, losses, and other financial interests are distributed to new or replacement members in an organization or partnership. Typically, this clause outlines the process for determining the share of allocations for individuals who join after the initial formation or who replace departing members, often based on the timing and amount of their contributions. Its core function is to ensure fairness and clarity in the distribution of financial rights among all members, preventing disputes and confusion when membership changes occur.
ALLOCATIONS TO ADDITIONAL MEMBERS AND SUBSTITUTE MEMBERS. No Additional Member or Substitute Member shall be entitled to any retroactive allocation of Net Profits, Net Losses, or items of income, gain, loss or deduction of the Company. The Net Profits, Net Losses, or items of income, gain, loss and deduction of the Company for each Accounting Period shall be allocated among the Members in proportion to their respective Interests, or as otherwise specified in this Operating Agreement, with the Accounting Period being subject to adjustment pursuant to Section 1.1(a) upon the addition of an Additional Member or Substitute Member.
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ALLOCATIONS TO ADDITIONAL MEMBERS AND SUBSTITUTE MEMBERS. The company can be taxed as a corporation or as a partnership. Our Delaware Operating Agreement Form Packages also include a variety of resolutions and other documents that will assist you with finalizing your LLC. Membership Interest held by such Management Member. All of the members except Shah voted to remove Shah from the company. How Do I Change My Business Name? Member and resources or enclosed with one of the members and objectives of the company other provisions governing the member managed llc operating agreement so severed, and fair value. This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware without giving effect to the principles of conflicts of law. It is important to reiterate, as discussed in Section VI. ESU shall have exclusive and complete authority and discretion to manage the operations and affairs of the Branch and to make all decisions regarding the business of the Branch. Board designate, upon reasonable notice to the members of the Board. Indemnitee is not entitled to be indemnified by the Company as authorized hereunder or is not entitled to such expense reimbursement. Any provision which is required or permitted by any section of this chapter to be stated in the bylaws may instead be stated in the certificate of incorporation. Code and the Treasury Regulations thereunder. Operations will be responsible for operations, including technology, of the business of the Company and will perform such other duties as from time to time may be assigned to him by the Board and the President. INTRODUCTION TO LOBAL HOICE OF NTITY FOR OCIALLYRIVEN USINESSESToday, a host of entities masquerade as forbenefit organizations. Articles of Incorporation template for a nonprofit corporation. No other event shall cause a dissolution of the Company. For the first time, the Court found that the Delaware LLC Act imposed fiduciary duties of loyalty and care on LLC managers. Operating Agreement shall not prevent a subsequent act, which would have originally constituted a violation, from having the effect of an original violation. This case arose out of an application by ▇▇▇▇▇▇▇▇▇▇ for a preliminary injunction, which relief was ultimately granted. Except as otherwise expressly provided herein, nothing contained in this Operating Agreement shall be deemed to constitute a Member an agent or legal representative of the other Members. Internet top level domain names and engaging in any other business or activity neces...
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ALLOCATIONS TO ADDITIONAL MEMBERS AND SUBSTITUTE MEMBERS. No Additional Member or Substitute Member shall be entitled to any retroactive allocation of losses, income or expense deductions incurred by the Company.
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Related to ALLOCATIONS TO ADDITIONAL MEMBERS AND SUBSTITUTE MEMBERS

  • Additional Members One or more additional members may be admitted to the Company with the consent of the Member. Prior to the admission of any such additional members to the Company, the Member shall amend this Agreement to make such changes as the Member shall determine to reflect the fact that the Company shall have such additional members. Each additional member shall execute and deliver a supplement or counterpart to this Agreement, as necessary.

  • Substitute Members No Member shall have the right to substitute a transferee of all or any part of such Member’s Units in its place, except as provided in this Article 11. Any such transferee of Unit(s) (whether pursuant to a voluntary or involuntary Transfer) shall be admitted to the Company as a Substitute Member only (i) with the consent of the Manager granted at its sole discretion, (ii) by satisfying the requirements of this Article 11, and (iii) upon the receipt of all necessary consents of governmental and regulatory authorities. Persons who become Substitute Members pursuant to Article 11.5 need not comply with clause (i) of the preceding sentence. Each transferee of all or part of a Member's Membership Units, as a condition to its admission as a Substitute Member, shall execute and acknowledge such instruments, in form and substance satisfactory to the Manager, as the Manager reasonably deems necessary or desirable to effectuate such admission and to confirm the agreement of such person to be bound by all the terms and provisions of this Agreement with respect to the Membership Units acquired. All reasonable expenses, including attorneys’ fees, incurred by the Company in this connection shall be borne by such person.

  • Admission of Additional Members One or more additional members of the Company may be admitted to the Company with the written consent of the Member.

  • Substituted Members Subject to the provisions of Article X hereof, in connection with the Permitted Transfer of a Unit hereunder, the Permitted Transferee shall become a Substituted Member on the effective date of such Transfer, which effective date shall not be earlier than the date of compliance with the conditions to such Transfer, and such admission shall be shown on the books and records of the Company, including the Schedule of Members.

  • Member's Capital Accounts A Capital Account for the Member shall be maintained by the Company. The Member's Capital Account shall reflect the Member’s capital contributions and increases for any net income or gain of the Company. The Member’s Capital Account shall also reflect decreases for distributions made to the Member and the Member’s share of any losses and deductions of the Company.