Formation and Operation of the Company Sample Clauses
The 'Formation and Operation of the Company' clause establishes the legal creation of the company and outlines the basic rules for how it will be managed and governed. It typically specifies the company's name, purpose, registered office, and the initial members or shareholders, as well as the procedures for appointing directors and conducting meetings. By setting out these foundational details, the clause ensures that the company is properly constituted under the law and provides a clear framework for its ongoing management and decision-making processes.
Formation and Operation of the Company. The Company has been formed as a limited liability company pursuant to the Act. The Investor Member shall be admitted to the Company as a member of the Company upon the execution and delivery of a counterpart signature page to this Agreement by the Investor Member and shall be appointed as the Manager of the Company as of the date hereof.
Formation and Operation of the Company. Prior to the Closing Date, Greystone shall (i) have filed or cause to be filed the Certificate in accordance with the Act, (ii) cause the Company to refrain from engaging in any business activities prior to the Closing, other than (a) obtaining an employer tax identification number, (b) opening one or more bank accounts at the financial institutions, as determined by Greystone, (c) authorizing and consummating the Pre-Closing Restructuring and (d) engaging in any other activities that, in the sole discretion of Greystone, are reasonably necessary to consummate the transactions contemplated by this Agreement and (iii) cause the Pre-Closing Restructuring to occur in a manner reasonably satisfactory to ▇▇▇▇▇▇▇ and consistent with the structure steps attached as Exhibit A. Greystone has delivered drafts of all proposed documents, certificates and filings to be entered into, delivered or made in connection with the Pre-Closing Restructuring to ▇▇▇▇▇▇▇. Notwithstanding the foregoing, in the event that any additional documents, certificates or filings are required for the Pre-Closing Restructuring, Greystone shall, reasonably in advance of the effectuation or filing thereof, deliver any such additional documents, certificates and filings to ▇▇▇▇▇▇▇ and shall incorporate any reasonable comments made by ▇▇▇▇▇▇▇ in good faith (as determined by Greystone).