Purpose of the LLC Clause Samples

The "Purpose of the LLC" clause defines the specific business activities or objectives for which the limited liability company is formed. Typically, this clause outlines whether the LLC is established for a general business purpose, such as engaging in any lawful activity, or for a more narrowly defined purpose, like operating a restaurant or providing consulting services. By clearly stating the LLC's intended scope of operations, this clause helps ensure legal compliance and provides clarity to members and third parties about what the company is authorized to do, thereby reducing the risk of disputes or unauthorized activities.
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Purpose of the LLC. The purpose of the LLC is to engage in any lawful act or activity for which a limited liability company may be organized under the laws of the State of Missouri including, but not limited to, make lots of money.
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Purpose of the LLC. The LLC may carry on any lawful business, purpose or activity permitted by the DLLCA.
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Purpose of the LLC. The business and purposes of the LLC shall be: ------------------ (a) To accept the contribution of the Lehigh Property and the assignment of the Pre-Formation Agreements by ▇▇▇▇▇ as contemplated below, to accept the assignment of the Studies by BDC as contemplated below, and to assume all obligations arising under the Pre-Formation Agreements and/or the Studies so assigned, and to indemnify ▇▇▇▇▇ or BDC, as the case may be, with respect to liability under the Pre-Formation Agreements and/or the Studies as provided below; (b) To enter into leases, subleases or other arrangements regarding the use or occupancy of all or part of the LLC Property with BDC, ▇▇▇▇▇ or any other Person, upon such terms and conditions as are specified herein or are otherwise approved by the LLC; (c) To make application for, process and negotiate all governmental approvals or permits and/or private rights for land use, utility services, drainage rights, dockage rights, access rights and similar rights as may be necessary or desirable for implementing the Site Plan; (d) To construct the Site Plan Improvements; (e) To obtain all necessary permits, licenses and approvals with respect to the construction, operation, maintenance, repair and replacement of the Common Areas; (f) To construct, operate, maintain, repair and replace the Common Areas; (g) To enter into license agreements (each a "Berthing Agreement" and both being the "Berthing Agreements") with each of ▇▇▇▇▇ and BDC with respect to the berthing of their respective riverboats within or adjacent to the Common Areas and the terms on which such parties may otherwise enjoy a license to use the Common Areas; (h) To revise and refine the Site Plan and to develop, revise and refine the Master Plan; (i) Subject to the provisions of Section 3.1(e) below, to make application for, process and negotiate all governmental approvals or permits and/or private rights for land use, utility services, drainage rights, dockage rights, access rights and similar rights as may be necessary or desirable for implementing the Master Plan, and to construct the Master Plan Improvements; (j) To otherwise develop, improve, manage, exchange, finance, operate and deal with and in every way exercise complete control and dominion over the Common Areas and all assets acquired and facilities constructed in connection therewith; and (k) To do all things necessary or desirable in connection with the foregoing or as otherwise contemplated in this Agreement, includi...
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Purpose of the LLC. Except as may be restricted by this Agreement, the LLC may carry on any lawful business, purpose or activity permitted by the LLCA.
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Purpose of the LLC. The LLC will be established for the purposes of commercializing products based on the Technology. It is expected that the LLC initially will focus a large share of its efforts toward products that can be manufactured using the Technology and commercialized in the near future. It is also expected that an appropriate balance of longer term product opportunities will be maintained, working to develop commercializable products. The parties hereto agree to negotiate in good faith to enter into one or more additional LLC agreements in the event transactions contemplated by this Agreement result in additional product ideas.
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Purpose of the LLC. The purpose of the LLC is to engage in any lawful act or activity for which a limited liability company may be organized under the laws of the State of California including, but not limited to, selling such products and services that may be determined from time to time by the Members at a profit.
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Purpose of the LLC. The LLC is formed for the object and purpose of, and the nature of the business to be conducted and promoted by the LLC is, engaging in -all lawful activities for which limited liability companies may be formed under the LLCA.
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Purpose of the LLC. The business and purposes of the LLC shall, with the consent of both Members, be: (a) To acquire the LLC Property; (b) To enter into leases, subleases and/or other arrangements regarding the use or occupancy of all or part of the Site Plan Improvements and LLC Property with Barden, Trump, BHR and/or any other Person, upon such terms and conditions as are specified herein or are otherwise approved by the LLC; (c) To enter into loan agreements, mortgages, security agreements and all such other agreements and documents necessary to obtain financing for the costs to acquire the LLC Property and construct the Site Plan Improvements; (d) To construct the Site Plan Improvements; (e) To obtain all necessary permits, licenses and approvals with respect to the construction, operation, maintenance, repair and replacement of the Site Plan Improvements; (f) To construct, operate, maintain, repair and replace the Site Plan Improvements; (g) To enter into a parking lease with BHR (the "Lease"), with respect to the use of the Site Plan Improvements and the terms on which BHR, its members and their respective customers may use the Site Plan Improvements; (h) To otherwise develop, improve, manage, exchange, finance, operate and deal with and in every way exercise complete control and dominion over the LLC Property and all assets acquired and facilities constructed in connection therewith; and (i) To do all things necessary or desirable in connection with the foregoing or as otherwise contemplated in this Agreement, including but not limited to executing and delivering such documents and instruments as are necessary to effectuate or memorialize any of the foregoing.
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Related to Purpose of the LLC

  • Purpose of the Loan The purpose of the Loan is to provide financing for the Borrower’s activities and investments.

  • PURPOSE OF THE TRUST The purpose of the Trust shall be to (a) manage, conduct, operate and carry on the business of an investment company; (b) subscribe for, invest in, reinvest in, purchase or otherwise acquire, hold, pledge, sell, assign, transfer, exchange, distribute or otherwise deal in or dispose of any and all sorts of property, tangible or intangible, including but not limited to Securities of any type whatsoever, whether equity or nonequity, of any issuer, evidences of indebtedness of any person and any other rights, interest, instruments or property of any sort to exercise any and all rights, powers and privileges of ownership or interest in respect of any and all such investment of every kind and description, including without limitation, the right to consent and otherwise act with respect thereto, with power to designate one or more Persons to exercise any of said rights, powers and privileges in respect of any of said investments. The Trustees shall not be limited by any law limiting the investments which may be made by fiduciaries.

  • Purpose of the Plan The Plan is intended to increase incentives and to encourage Share ownership on the part of (1) employees of the Company and its Affiliates, (2) consultants who provide significant services to the Company and its Affiliates, and (3) directors of the Company who are employees of neither the Company nor any Affiliate. The Plan also is intended to further the growth and profitability of the Company. The Plan is intended to permit the grant of Awards that qualify as performance-based compensation under section 162(m) of the Code.

  • Purpose of the Company The purpose of the Company shall be to engage in any lawful business the Company may undertake. In furtherance of its purposes, but subject to the provisions of this Agreement, the Company shall have all powers necessary and appropriate for the accomplishment of such purposes that are conferred to limited liability companies under the Act.

  • Purpose of DPA The purpose of this DPA is to describe the duties and responsibilities to protect Student Data including compliance with all applicable federal, state, and local privacy laws, rules, and regulations, all as may be amended from time to time. In performing these services, the Provider shall be considered a School Official with a legitimate educational interest, and performing services otherwise provided by the LEA. Provider shall be under the direct control and supervision of the LEA, with respect to its use of Student Data