Nevada 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 Nevada Operating Agreement is a legal document that outlines the operating procedures and governance of a limited liability company (LLC) based in the state of Nevada. It serves as a contract between the members of an LLC, specifying their rights, responsibilities, and the distribution of profits and losses. NBC Internet, Inc. and Velocity, Inc. are two companies that have entered into such an agreement. The Nevada Operating Agreement between NBC Internet, Inc. and Velocity, Inc. can be customized based on the specific needs and goals of these companies. While there may not be different types of agreements specifically between these two entities, variations can exist depending on the nature of the business and the desired provisions included within the agreement. Some relevant keywords that can be associated with the Nevada Operating Agreement between NBC Internet, Inc. and Velocity, Inc. may include: 1. Limited Liability Company (LLC): Referring to the business structure chosen by the companies involved, providing personal liability protection to its members. 2. Governance: Outlining the decision-making processes, voting rights, and management structure within the agreement. 3. Operating Procedures: Defining the procedures and guidelines for day-to-day operations, including financial management, record-keeping, and member meetings. 4. Capital Contributions: Detailing the agreed-upon capital contributions made by each member, determining ownership percentages and initial investments. 5. Profits and Losses Distribution: Specifying how profits and losses are allocated among the members, which can be based on ownership percentages or other agreed-upon methods. 6. Rights and Responsibilities: Enumerating the rights and responsibilities of each member, including decision-making authority, managerial roles, and obligations towards the LLC. 7. Dissolution and Termination: Addressing the steps to be taken in case of dissolution, bankruptcy, or when a member wants to withdraw or sell their interest. 8. Non-Compete and Non-Disclosure Agreements: Including provisions to prevent members from engaging in competition or disclosing sensitive or confidential information, protecting the interests of both entities. 9. Dispute Resolution: Establishing mechanisms to resolve disputes, such as arbitration or mediation, which can save costs and avoid litigation. 10. Amendments and Modifications: Addressing how the agreement can be amended or modified in the future, requiring agreement from all members or based on specific conditions. While these keywords provide an overview of relevant terms associated with a Nevada Operating Agreement, it is important to note that the specific content of the agreement will vary depending on the needs and objectives of NBC Internet, Inc. and Velocity, Inc., as well as the legal advice of their respective attorneys.

A Nevada Operating Agreement is a legal document that outlines the operating procedures and governance of a limited liability company (LLC) based in the state of Nevada. It serves as a contract between the members of an LLC, specifying their rights, responsibilities, and the distribution of profits and losses. NBC Internet, Inc. and Velocity, Inc. are two companies that have entered into such an agreement. The Nevada Operating Agreement between NBC Internet, Inc. and Velocity, Inc. can be customized based on the specific needs and goals of these companies. While there may not be different types of agreements specifically between these two entities, variations can exist depending on the nature of the business and the desired provisions included within the agreement. Some relevant keywords that can be associated with the Nevada Operating Agreement between NBC Internet, Inc. and Velocity, Inc. may include: 1. Limited Liability Company (LLC): Referring to the business structure chosen by the companies involved, providing personal liability protection to its members. 2. Governance: Outlining the decision-making processes, voting rights, and management structure within the agreement. 3. Operating Procedures: Defining the procedures and guidelines for day-to-day operations, including financial management, record-keeping, and member meetings. 4. Capital Contributions: Detailing the agreed-upon capital contributions made by each member, determining ownership percentages and initial investments. 5. Profits and Losses Distribution: Specifying how profits and losses are allocated among the members, which can be based on ownership percentages or other agreed-upon methods. 6. Rights and Responsibilities: Enumerating the rights and responsibilities of each member, including decision-making authority, managerial roles, and obligations towards the LLC. 7. Dissolution and Termination: Addressing the steps to be taken in case of dissolution, bankruptcy, or when a member wants to withdraw or sell their interest. 8. Non-Compete and Non-Disclosure Agreements: Including provisions to prevent members from engaging in competition or disclosing sensitive or confidential information, protecting the interests of both entities. 9. Dispute Resolution: Establishing mechanisms to resolve disputes, such as arbitration or mediation, which can save costs and avoid litigation. 10. Amendments and Modifications: Addressing how the agreement can be amended or modified in the future, requiring agreement from all members or based on specific conditions. While these keywords provide an overview of relevant terms associated with a Nevada Operating Agreement, it is important to note that the specific content of the agreement will vary depending on the needs and objectives of NBC Internet, Inc. and Velocity, Inc., as well as the legal advice of their respective attorneys.