Arkansas Operating Agreement between NBC Internet, Inc. and Telocity, Inc.

• Category: Corporations - Public - Operating
• State: Multi-State
• Control #: US-EG-9126
• Format: Word; Rich Text

Description

Operating Agreement between NBC Internet, Inc. and Telocity, Inc. dated December 10, 1999. 58 pages Arkansas Operating Agreement between NBC Internet, Inc. and Velocity, Inc. is a legally binding document that outlines the terms and conditions governing the relationship between the two companies in the state of Arkansas. It serves as a blueprint for their business collaboration, establishing rights, obligations, and responsibilities of each party involved. The agreement typically covers various aspects such as: 1. Purpose: This section defines the underlying objective of the partnership, specifying the purpose for which NBC Internet, Inc. and Velocity, Inc. are coming together. 2. Duration: It outlines the duration for which the agreement will be valid, specifying the start and end dates or any provisions for termination or extension. 3. Roles and Responsibilities: This section lays down the roles and responsibilities of each party involved, clearly delineating their respective functions, duties, and obligations. 4. Capital Contributions: This part describes the capital contributions that each party will make to the partnership, whether it be in the form of finances, assets, or other resources. 5. Management and Decision-Making: The agreement highlights how the partnership will be managed, including the decision-making process and the allocation of authority and responsibilities between NBC Internet, Inc. and Velocity, Inc. It may also cover mechanisms for dispute resolution and voting procedures. 6. Profits and Losses: This section outlines how the profits and losses generated through the partnership will be allocated between NBC Internet, Inc. and Velocity, Inc., specifying the percentage or formula for distribution. 7. Intellectual Property: If applicable, the agreement may address the issue of intellectual property rights, determining ownership, usage, and protection of any patents, copyrights, trademarks, or other proprietary information. 8. Confidentiality: This section ensures the confidentiality of any sensitive or proprietary information shared between the two companies during the partnership, prohibiting unauthorized disclosure to third parties. 9. Insurance and Liability: The agreement may clarify the insurance policies to be maintained by each party and determine the liabilities and indemnification process in case of any legal claims, damages, or losses. 10. Termination: If the agreement allows for termination, this section outlines the circumstances and procedures for its termination, including notice periods and any necessary conditions to be met. It is important to note that the specific terms and scope of an Arkansas Operating Agreement can vary depending on the nature and goals of the partnership between NBC Internet, Inc. and Velocity, Inc. Different types of Arkansas Operating Agreements could include Joint Venture Operating Agreements, Partnership Operating Agreements, or Limited Liability Company (LLC) Operating Agreements, tailored to the specific legal structure chosen for the collaboration. Overall, the Arkansas Operating Agreement between NBC Internet, Inc. and Velocity, Inc. offers a comprehensive framework for their partnership, ensuring clarity, mutual understanding, and legal compliance in their business endeavors.

Arkansas Operating Agreement between NBC Internet, Inc. and Velocity, Inc. is a legally binding document that outlines the terms and conditions governing the relationship between the two companies in the state of Arkansas. It serves as a blueprint for their business collaboration, establishing rights, obligations, and responsibilities of each party involved. The agreement typically covers various aspects such as: 1. Purpose: This section defines the underlying objective of the partnership, specifying the purpose for which NBC Internet, Inc. and Velocity, Inc. are coming together. 2. Duration: It outlines the duration for which the agreement will be valid, specifying the start and end dates or any provisions for termination or extension. 3. Roles and Responsibilities: This section lays down the roles and responsibilities of each party involved, clearly delineating their respective functions, duties, and obligations. 4. Capital Contributions: This part describes the capital contributions that each party will make to the partnership, whether it be in the form of finances, assets, or other resources. 5. Management and Decision-Making: The agreement highlights how the partnership will be managed, including the decision-making process and the allocation of authority and responsibilities between NBC Internet, Inc. and Velocity, Inc. It may also cover mechanisms for dispute resolution and voting procedures. 6. Profits and Losses: This section outlines how the profits and losses generated through the partnership will be allocated between NBC Internet, Inc. and Velocity, Inc., specifying the percentage or formula for distribution. 7. Intellectual Property: If applicable, the agreement may address the issue of intellectual property rights, determining ownership, usage, and protection of any patents, copyrights, trademarks, or other proprietary information. 8. Confidentiality: This section ensures the confidentiality of any sensitive or proprietary information shared between the two companies during the partnership, prohibiting unauthorized disclosure to third parties. 9. Insurance and Liability: The agreement may clarify the insurance policies to be maintained by each party and determine the liabilities and indemnification process in case of any legal claims, damages, or losses. 10. Termination: If the agreement allows for termination, this section outlines the circumstances and procedures for its termination, including notice periods and any necessary conditions to be met. It is important to note that the specific terms and scope of an Arkansas Operating Agreement can vary depending on the nature and goals of the partnership between NBC Internet, Inc. and Velocity, Inc. Different types of Arkansas Operating Agreements could include Joint Venture Operating Agreements, Partnership Operating Agreements, or Limited Liability Company (LLC) Operating Agreements, tailored to the specific legal structure chosen for the collaboration. Overall, the Arkansas Operating Agreement between NBC Internet, Inc. and Velocity, Inc. offers a comprehensive framework for their partnership, ensuring clarity, mutual understanding, and legal compliance in their business endeavors.