Louisiana 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 A Louisiana Operating Agreement is a legal document that outlines the rules, regulations, and responsibilities between two entities involved in a business partnership or joint venture. In the case of NBC Internet, Inc. and Velocity, Inc., their agreement would outline the specifics of their business relationship in the state of Louisiana. Keywords: Louisiana, operating agreement, NBC Internet, Inc., Velocity, Inc., business partnership, joint venture, rules, regulations, responsibilities. The Louisiana Operating Agreement between NBC Internet, Inc. and Velocity, Inc. serves as a crucial document establishing the terms and conditions of their partnership. It defines the roles of each party, their share of profits and losses, decision-making procedures, dispute resolution processes, and other essential aspects of their business collaboration. This Operating Agreement can be further categorized into different types, depending on the nature of the partnership between NBC Internet, Inc. and Velocity, Inc. Such categorizations can include: 1. General Partnership Operating Agreement: This type of agreement is typically used when both NBC Internet, Inc. and Velocity, Inc. contribute equally to the partnership and share equal decision-making authority and liability. 2. Limited Partnership Operating Agreement: If NBC Internet, Inc. assumes a more prominent role as a general partner with managerial control and Velocity, Inc. acts as a limited partner with a more passive involvement, this type of agreement is chosen. It defines the rights, obligations, and distributions of the different partner roles. 3. Joint Venture Operating Agreement: If NBC Internet, Inc. and Velocity, Inc. collaborate on a specific project or endeavor rather than forming a long-term partnership, a joint venture agreement would be utilized. It outlines the scope, duration, and goals of the joint venture, along with the allocation of resources and profits. 4. Membership Agreement for Limited Liability Company (LLC): If NBC Internet, Inc. and Velocity, Inc. decide to form an LLC as their business structure, a membership agreement is used instead of an operating agreement. This document outlines the ownership percentages, voting rights, profit sharing, and management structure within the LLC. 5. Buy-Sell Agreement: This type of agreement may be included in the operating agreement to address circumstances in which one party wishes to sell their interest or exit the partnership. It establishes the terms and conditions under which a buyout can occur between NBC Internet, Inc. and Velocity, Inc. The specific choice of Louisiana Operating Agreement type between NBC Internet, Inc. and Velocity, Inc. would depend on their intended partnership structure, objectives, and individual preferences. Consulting with legal professionals and reviewing relevant state laws is essential to ensure compliance and protection of both parties' interests.

A Louisiana Operating Agreement is a legal document that outlines the rules, regulations, and responsibilities between two entities involved in a business partnership or joint venture. In the case of NBC Internet, Inc. and Velocity, Inc., their agreement would outline the specifics of their business relationship in the state of Louisiana. Keywords: Louisiana, operating agreement, NBC Internet, Inc., Velocity, Inc., business partnership, joint venture, rules, regulations, responsibilities. The Louisiana Operating Agreement between NBC Internet, Inc. and Velocity, Inc. serves as a crucial document establishing the terms and conditions of their partnership. It defines the roles of each party, their share of profits and losses, decision-making procedures, dispute resolution processes, and other essential aspects of their business collaboration. This Operating Agreement can be further categorized into different types, depending on the nature of the partnership between NBC Internet, Inc. and Velocity, Inc. Such categorizations can include: 1. General Partnership Operating Agreement: This type of agreement is typically used when both NBC Internet, Inc. and Velocity, Inc. contribute equally to the partnership and share equal decision-making authority and liability. 2. Limited Partnership Operating Agreement: If NBC Internet, Inc. assumes a more prominent role as a general partner with managerial control and Velocity, Inc. acts as a limited partner with a more passive involvement, this type of agreement is chosen. It defines the rights, obligations, and distributions of the different partner roles. 3. Joint Venture Operating Agreement: If NBC Internet, Inc. and Velocity, Inc. collaborate on a specific project or endeavor rather than forming a long-term partnership, a joint venture agreement would be utilized. It outlines the scope, duration, and goals of the joint venture, along with the allocation of resources and profits. 4. Membership Agreement for Limited Liability Company (LLC): If NBC Internet, Inc. and Velocity, Inc. decide to form an LLC as their business structure, a membership agreement is used instead of an operating agreement. This document outlines the ownership percentages, voting rights, profit sharing, and management structure within the LLC. 5. Buy-Sell Agreement: This type of agreement may be included in the operating agreement to address circumstances in which one party wishes to sell their interest or exit the partnership. It establishes the terms and conditions under which a buyout can occur between NBC Internet, Inc. and Velocity, Inc. The specific choice of Louisiana Operating Agreement type between NBC Internet, Inc. and Velocity, Inc. would depend on their intended partnership structure, objectives, and individual preferences. Consulting with legal professionals and reviewing relevant state laws is essential to ensure compliance and protection of both parties' interests.