Missouri 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 Missouri Operating Agreement between NBC Internet, Inc. and Velocity, Inc., also referred to as a Missouri LLC operating agreement or simply an operating agreement, is a legal document that outlines the operational and managerial rules for a limited liability company (LLC). This agreement is specific to the state of Missouri and sets forth the rights, responsibilities, and obligations of both NBC Internet, Inc. and Velocity, Inc. in their business partnership. The Missouri Operating Agreement typically covers various key aspects of the LLC, including: 1. Formation: This section describes the process of forming the LLC, stating the names of the members (NBC Internet, Inc. and Velocity, Inc.), their roles, and their initial contributions to the company. 2. Management: The agreement outlines how the LLC will be managed. It may specify that one or both parties will act as managers, or it can appoint a separate manager to handle day-to-day operations. Details regarding decision-making procedures, voting rights, and responsibilities are typically included in this section. 3. Capital Contributions: This part details the initial contributions made by NBC Internet, Inc. and Velocity, Inc. to the LLC, such as cash, property, or services, along with any subsequent contributions necessary for the smooth functioning of the business. 4. Profits and Losses: The agreement determines how profits and losses will be allocated among the members. This section may outline a specific distribution method, such as based on ownership percentages, or allow for flexibility in determining the allocation. 5. Membership Changes: The operating agreement addresses procedures for adding or removing members. It may include provisions for selling or transferring membership interests, as well as restrictions on the sale or transfer of such interests outside the agreement. 6. Dissolution: In the event that NBC Internet, Inc. and Velocity, Inc. decide to dissolve the LLC, the operating agreement provides guidelines for the process, including distribution of assets, liabilities, and any remaining profits among the members. It is important to note that while the key elements mentioned above are typically included in a Missouri Operating Agreement, the actual contents may vary depending on the specific requirements and preferences of NBC Internet, Inc. and Velocity, Inc. Additionally, the agreement may contain other clauses or provisions related to other concerns specific to the business arrangement between the companies. In summary, a Missouri Operating Agreement is a vital legal document that establishes the framework and guidelines for the operation of an LLC between NBC Internet, Inc. and Velocity, Inc. It thoroughly elaborates on matters pertaining to formation, management, capital contributions, profit and loss allocation, membership changes, and dissolution. These agreements ensure clarity, protect the interests of the involved parties, and provide a solid foundation for successful business operations.

A Missouri Operating Agreement between NBC Internet, Inc. and Velocity, Inc., also referred to as a Missouri LLC operating agreement or simply an operating agreement, is a legal document that outlines the operational and managerial rules for a limited liability company (LLC). This agreement is specific to the state of Missouri and sets forth the rights, responsibilities, and obligations of both NBC Internet, Inc. and Velocity, Inc. in their business partnership. The Missouri Operating Agreement typically covers various key aspects of the LLC, including: 1. Formation: This section describes the process of forming the LLC, stating the names of the members (NBC Internet, Inc. and Velocity, Inc.), their roles, and their initial contributions to the company. 2. Management: The agreement outlines how the LLC will be managed. It may specify that one or both parties will act as managers, or it can appoint a separate manager to handle day-to-day operations. Details regarding decision-making procedures, voting rights, and responsibilities are typically included in this section. 3. Capital Contributions: This part details the initial contributions made by NBC Internet, Inc. and Velocity, Inc. to the LLC, such as cash, property, or services, along with any subsequent contributions necessary for the smooth functioning of the business. 4. Profits and Losses: The agreement determines how profits and losses will be allocated among the members. This section may outline a specific distribution method, such as based on ownership percentages, or allow for flexibility in determining the allocation. 5. Membership Changes: The operating agreement addresses procedures for adding or removing members. It may include provisions for selling or transferring membership interests, as well as restrictions on the sale or transfer of such interests outside the agreement. 6. Dissolution: In the event that NBC Internet, Inc. and Velocity, Inc. decide to dissolve the LLC, the operating agreement provides guidelines for the process, including distribution of assets, liabilities, and any remaining profits among the members. It is important to note that while the key elements mentioned above are typically included in a Missouri Operating Agreement, the actual contents may vary depending on the specific requirements and preferences of NBC Internet, Inc. and Velocity, Inc. Additionally, the agreement may contain other clauses or provisions related to other concerns specific to the business arrangement between the companies. In summary, a Missouri Operating Agreement is a vital legal document that establishes the framework and guidelines for the operation of an LLC between NBC Internet, Inc. and Velocity, Inc. It thoroughly elaborates on matters pertaining to formation, management, capital contributions, profit and loss allocation, membership changes, and dissolution. These agreements ensure clarity, protect the interests of the involved parties, and provide a solid foundation for successful business operations.