Default Rule definition

Default Rule means a rule stated in the Act which applies except to the extent it may be negated or modified through the provisions of a limited liability company’s Limited Liability Company Agreement.

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Default Rule means a rule stated in the Act that applies except to the extent it is negated or modified through the provisions of the Partnership’s certificate of limited partnership or this Agreement.

Default Rule means a provision of the Act that would apply to the Company unless otherwise provided in, or modified by, this Agreement.

Examples of Default Rule in a sentence

Regardless of whether any provision of this Agreement specifically refers to particular Default Rules, (a) if any provision of this Agreement conflicts with a Default Rule, the provision of this Agreement controls and the Default Rule is modified or negated accordingly, and (b) if it is necessary to construe a Default Rule as modified or negated in order to effectuate any provision of this Agreement, the Default Rule is modified or negated accordingly.
Regardless of whether any provisions of this Agreement specifically refer to particular Default Rules (as defined below), (a) if any provision of this Agreement conflicts with a Default Rule, the provision of this Agreement controls and the Default Rule is modified or negated accordingly, and (b) if it is necessary to construe a Default Rule as modified or negated in order to effectuate any provision of this Agreement, the Default Rule is modified or negated accordingly.
For purposes of this Section 24, "Default Rule" shall mean a rule stated in the Act that applies except to the extent it is negated or modified through the provisions of a limited liability company's certificate of formation or limited liability company agreement.
Regardless of whether any provisions of this Agreement specifically refer to particular Default Rules, (a) if any provision of this Agreement conflicts with a Default Rule, the provision of this Agreement controls and the Default Rule is modified or negated accordingly, and (b) if it is necessary to construe a Default Rule as modified or negated in order to effectuate any provision of this Agreement, the Default Rule is modified or negated accordingly.
Regardless of whether this Agreement specifically refers to a particular Default Rule: (i) if any provision of this Agreement conflicts with a Default Rule, the provision of this Agreement controls and such Default Rule is hereby modified or negated accordingly, and (ii) if it is necessary to construe a Default Rule as modified or negated in order to effectuate any provision of this Agreement, such Default Rule is hereby modified or negated accordingly.

More Definitions of Default Rule

Default Rule means a rule stated in the Act that may be negated or modified by law and that applies except to the extent it is negated or modified through the provisions of a limited liability company’s operating agreement.

Default Rule means a rule stated in the Act: (a) which structures, defines, or regulates the finances, governance, operations, or other aspects of a limited liability company organized under the Act; and (b) which applies except to the extent it is modified or overridden through the provisions of a limited liability company's certificate of formation or limited liability company.

Default Rule means a rule that applies in relation to a partnership if the rule is not dealt with in the partnership agreement;

Default Rule means a rule stated in the Act which applies except to the extent it may be negated or modified through the provisions of a limited liability company's Limited Liability Company Agreement.

Default Rule means a provision of the Act that would apply to Nevada JV unless otherwise provided in, or modified by, this Agreement.

Default Rule means a provision of the Delaware LLC Act that would apply to the Company unless otherwise provided in, or modified by, this Agreement.

Default Rule means a rule stated in the Act that (a) structures,

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