North Dakota 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 North Dakota Operating Agreement between NBC Internet, Inc. and Velocity, Inc. is a legally binding document that outlines the terms and conditions of the partnership or joint venture between these two entities in the state of North Dakota. This agreement serves as a framework to govern the rights, responsibilities, and obligations of each party involved, ensuring smooth and efficient business operations. Key terms and provisions within the North Dakota Operating Agreement may include: 1. Purpose: Clearly defining the purpose for which the agreement is being established, such as collaboration on a specific project, sharing of resources, or joint marketing efforts. 2. Ownership and Management: Outlining the ownership percentages and the roles and responsibilities of each party in the partnership. This section may specify the appointment of a managing partner or a board of directors responsible for decision-making. 3. Capital Contributions: Detailing the financial contributions made by each party and the manner in which these contributions will be utilized or invested in the joint venture. 4. Profits and Losses: Determining how profits and losses will be allocated among the parties involved, typically based on their ownership percentages stated in the agreement. 5. Decision-making: Establishing the decision-making process, such as requiring a unanimous vote or a majority vote for major business decisions, and assigning specific decision-making powers to different parties. 6. Confidentiality: Including provisions to ensure the protection of confidential information shared between the parties during the course of the joint venture. 7. Dispute Resolution: Outlining the procedure for resolving disputes, either through negotiation, mediation, or arbitration, while specifying North Dakota as the jurisdiction for dispute resolution. 8. Term and Termination: Specifying the duration for which the agreement is valid and the conditions under which it can be terminated, such as breach of contract or expiration of the agreed-upon term. Different types of North Dakota Operating Agreement between NBC Internet, Inc. and Velocity, Inc., if applicable, could include variations based on the specific nature of the partnership, objectives, or the inclusion of additional provisions tailored to their unique circumstances. Examples may include a Joint Venture Operating Agreement, Partnership Operating Agreement, or a Technology Collaboration Operating Agreement. It is important for both NBC Internet, Inc. and Velocity, Inc. to consult with legal professionals specializing in corporate law to draft a comprehensive and enforceable North Dakota Operating Agreement that best protects their interests and ensures a mutually beneficial working relationship.

North Dakota Operating Agreement between NBC Internet, Inc. and Velocity, Inc. is a legally binding document that outlines the terms and conditions of the partnership or joint venture between these two entities in the state of North Dakota. This agreement serves as a framework to govern the rights, responsibilities, and obligations of each party involved, ensuring smooth and efficient business operations. Key terms and provisions within the North Dakota Operating Agreement may include: 1. Purpose: Clearly defining the purpose for which the agreement is being established, such as collaboration on a specific project, sharing of resources, or joint marketing efforts. 2. Ownership and Management: Outlining the ownership percentages and the roles and responsibilities of each party in the partnership. This section may specify the appointment of a managing partner or a board of directors responsible for decision-making. 3. Capital Contributions: Detailing the financial contributions made by each party and the manner in which these contributions will be utilized or invested in the joint venture. 4. Profits and Losses: Determining how profits and losses will be allocated among the parties involved, typically based on their ownership percentages stated in the agreement. 5. Decision-making: Establishing the decision-making process, such as requiring a unanimous vote or a majority vote for major business decisions, and assigning specific decision-making powers to different parties. 6. Confidentiality: Including provisions to ensure the protection of confidential information shared between the parties during the course of the joint venture. 7. Dispute Resolution: Outlining the procedure for resolving disputes, either through negotiation, mediation, or arbitration, while specifying North Dakota as the jurisdiction for dispute resolution. 8. Term and Termination: Specifying the duration for which the agreement is valid and the conditions under which it can be terminated, such as breach of contract or expiration of the agreed-upon term. Different types of North Dakota Operating Agreement between NBC Internet, Inc. and Velocity, Inc., if applicable, could include variations based on the specific nature of the partnership, objectives, or the inclusion of additional provisions tailored to their unique circumstances. Examples may include a Joint Venture Operating Agreement, Partnership Operating Agreement, or a Technology Collaboration Operating Agreement. It is important for both NBC Internet, Inc. and Velocity, Inc. to consult with legal professionals specializing in corporate law to draft a comprehensive and enforceable North Dakota Operating Agreement that best protects their interests and ensures a mutually beneficial working relationship.