Illinois 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 Illinois Operating Agreement refers to a legally binding contract that outlines the terms, conditions, and responsibilities governing the partnership between NBC Internet, Inc. and Velocity, Inc. This agreement is designed to establish a framework for the operation and management of the joint venture or collaboration between the two companies in the state of Illinois. The Illinois Operating Agreement typically includes provisions that cover various aspects of the partnership, such as ownership structure, decision-making processes, financial responsibilities, profit sharing, dispute resolution, and dissolution procedures. It serves as a foundational document that sets forth the rights and obligations of both parties involved. Different types of Illinois Operating Agreements may exist depending on the specific nature and objectives of the partnership between NBC Internet, Inc. and Velocity, Inc. For instance, they may have separate agreements for different ventures, projects, or business units. These agreements might have specific clauses tailored to the unique circumstances and goals of each collaboration. Additionally, if there are any changes or modifications to the initial agreement, amendments or addendums may be made to document them. In the Illinois Operating Agreement between NBC Internet, Inc. and Velocity, Inc., keywords that may be relevant include: 1. Partnership: Reflecting the collaboration and joint venture nature of the agreement. 2. Responsibilities: Detailing the roles and duties of each party involved. 3. Decision-making: Describing the procedures for making key decisions and resolving disputes. 4. Ownership: Outlining the ownership structure, including shares or stakes held by each company. 5. Finances: Covering topics such as financial contributions, profit-sharing, and accounting practices. 6. Dissolution: Addressing the process for terminating the partnership and liquidating assets if necessary. 7. Amendments: Highlighting the ability to modify or update the agreement as needed. 8. Confidentiality: Protecting sensitive information and trade secrets shared between the parties. 9. Non-Compete: Restricting the parties from engaging in similar business activities within a specified time or region. 10. Governing Law: Specifying that the agreement is subject to the laws of Illinois. It is important to note that the specific details and types of Illinois Operating Agreements between NBC Internet, Inc. and Velocity, Inc. may vary depending on the legal advisors involved and the specific objectives of the partnership. Consulting legal professionals experienced in Illinois state law is crucial to ensuring the agreement meets all necessary legal requirements and adequately protects the interests of both parties.

Illinois Operating Agreement refers to a legally binding contract that outlines the terms, conditions, and responsibilities governing the partnership between NBC Internet, Inc. and Velocity, Inc. This agreement is designed to establish a framework for the operation and management of the joint venture or collaboration between the two companies in the state of Illinois. The Illinois Operating Agreement typically includes provisions that cover various aspects of the partnership, such as ownership structure, decision-making processes, financial responsibilities, profit sharing, dispute resolution, and dissolution procedures. It serves as a foundational document that sets forth the rights and obligations of both parties involved. Different types of Illinois Operating Agreements may exist depending on the specific nature and objectives of the partnership between NBC Internet, Inc. and Velocity, Inc. For instance, they may have separate agreements for different ventures, projects, or business units. These agreements might have specific clauses tailored to the unique circumstances and goals of each collaboration. Additionally, if there are any changes or modifications to the initial agreement, amendments or addendums may be made to document them. In the Illinois Operating Agreement between NBC Internet, Inc. and Velocity, Inc., keywords that may be relevant include: 1. Partnership: Reflecting the collaboration and joint venture nature of the agreement. 2. Responsibilities: Detailing the roles and duties of each party involved. 3. Decision-making: Describing the procedures for making key decisions and resolving disputes. 4. Ownership: Outlining the ownership structure, including shares or stakes held by each company. 5. Finances: Covering topics such as financial contributions, profit-sharing, and accounting practices. 6. Dissolution: Addressing the process for terminating the partnership and liquidating assets if necessary. 7. Amendments: Highlighting the ability to modify or update the agreement as needed. 8. Confidentiality: Protecting sensitive information and trade secrets shared between the parties. 9. Non-Compete: Restricting the parties from engaging in similar business activities within a specified time or region. 10. Governing Law: Specifying that the agreement is subject to the laws of Illinois. It is important to note that the specific details and types of Illinois Operating Agreements between NBC Internet, Inc. and Velocity, Inc. may vary depending on the legal advisors involved and the specific objectives of the partnership. Consulting legal professionals experienced in Illinois state law is crucial to ensuring the agreement meets all necessary legal requirements and adequately protects the interests of both parties.