Massachusetts 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 The Massachusetts Operating Agreement is a legally binding contract that outlines the roles, responsibilities, and obligations of two entities, NBC Internet, Inc. and Velocity, Inc., operating within the state of Massachusetts. This agreement governs the terms under which the parties will conduct business and collaborate for mutual benefit. By incorporating relevant keywords, we can provide a detailed description of what this agreement entails. Firstly, the Massachusetts Operating Agreement serves as a comprehensive document that presents the specific terms and conditions agreed upon by NBC Internet, Inc. and Velocity, Inc. This agreement ensures that both parties understand and are bound by the outlined guidelines to facilitate their business operations effectively. The agreement includes clauses related to the purpose and scope of the partnership, defining the nature of the collaborative efforts between NBC Internet, Inc. and Velocity, Inc. It discusses the shared objectives, goals, and strategies that the entities will pursue together. Moreover, the Massachusetts Operating Agreement outlines the management structure of the partnership. It specifies the roles and responsibilities of each party, designating decision-making powers and key personnel involved in the operations. This agreement also addresses the governance and control mechanisms to ensure smooth functioning and dispute resolution between the parties. Additionally, the agreement covers financial arrangements and matters related to profit-sharing, investments, and liabilities. It outlines how the revenues and expenses will be allocated, as well as the protocol for resolving any financial disputes that may arise. Furthermore, the Massachusetts Operating Agreement may include provisions for duration — specifying the period of partnership or outlining circumstances that may lead to its termination. It may also include confidentiality clauses to safeguard any sensitive information shared between the parties. While the base framework of the Massachusetts Operating Agreement remains the same, there could be variations or specific types, such as: 1. Limited Liability Company (LLC) Operating Agreement: If NBC Internet, Inc. and Velocity, Inc. are structured as an LLC, the operating agreement would adhere to the requirements and regulations associated with this business entity type. This operating agreement would additionally highlight aspects specific to an LLC, such as member contributions, distributions, and management structure. 2. Joint Venture Operating Agreement: In case NBC Internet, Inc. and Velocity, Inc. form a joint venture, a specialized operating agreement would be created to address the unique characteristics and objectives of this partnership model. This agreement would outline the rights, duties, and contributions of both parties, and the sharing of risks and rewards associated with the joint venture arrangement. In conclusion, the Massachusetts Operating Agreement between NBC Internet, Inc. and Velocity, Inc. is a crucial legal document that establishes the framework for their collaborative efforts within the state of Massachusetts. It encompasses various aspects of partnership, including purpose, management, finance, duration, and potential variations depending on the specific business structure or model chosen.

The Massachusetts Operating Agreement is a legally binding contract that outlines the roles, responsibilities, and obligations of two entities, NBC Internet, Inc. and Velocity, Inc., operating within the state of Massachusetts. This agreement governs the terms under which the parties will conduct business and collaborate for mutual benefit. By incorporating relevant keywords, we can provide a detailed description of what this agreement entails. Firstly, the Massachusetts Operating Agreement serves as a comprehensive document that presents the specific terms and conditions agreed upon by NBC Internet, Inc. and Velocity, Inc. This agreement ensures that both parties understand and are bound by the outlined guidelines to facilitate their business operations effectively. The agreement includes clauses related to the purpose and scope of the partnership, defining the nature of the collaborative efforts between NBC Internet, Inc. and Velocity, Inc. It discusses the shared objectives, goals, and strategies that the entities will pursue together. Moreover, the Massachusetts Operating Agreement outlines the management structure of the partnership. It specifies the roles and responsibilities of each party, designating decision-making powers and key personnel involved in the operations. This agreement also addresses the governance and control mechanisms to ensure smooth functioning and dispute resolution between the parties. Additionally, the agreement covers financial arrangements and matters related to profit-sharing, investments, and liabilities. It outlines how the revenues and expenses will be allocated, as well as the protocol for resolving any financial disputes that may arise. Furthermore, the Massachusetts Operating Agreement may include provisions for duration — specifying the period of partnership or outlining circumstances that may lead to its termination. It may also include confidentiality clauses to safeguard any sensitive information shared between the parties. While the base framework of the Massachusetts Operating Agreement remains the same, there could be variations or specific types, such as: 1. Limited Liability Company (LLC) Operating Agreement: If NBC Internet, Inc. and Velocity, Inc. are structured as an LLC, the operating agreement would adhere to the requirements and regulations associated with this business entity type. This operating agreement would additionally highlight aspects specific to an LLC, such as member contributions, distributions, and management structure. 2. Joint Venture Operating Agreement: In case NBC Internet, Inc. and Velocity, Inc. form a joint venture, a specialized operating agreement would be created to address the unique characteristics and objectives of this partnership model. This agreement would outline the rights, duties, and contributions of both parties, and the sharing of risks and rewards associated with the joint venture arrangement. In conclusion, the Massachusetts Operating Agreement between NBC Internet, Inc. and Velocity, Inc. is a crucial legal document that establishes the framework for their collaborative efforts within the state of Massachusetts. It encompasses various aspects of partnership, including purpose, management, finance, duration, and potential variations depending on the specific business structure or model chosen.