Virgin Islands 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 Virgin Islands Operating Agreement between NBC Internet, Inc. and Velocity, Inc. is a legally binding document that outlines the terms and conditions under which the two companies will operate in the Virgin Islands. This agreement serves as a framework to establish the rights, responsibilities, and obligations of each party involved. The agreement covers various aspects of the operating relationship between NBC Internet, Inc. and Velocity, Inc. It begins with an introduction and background section, providing an overview of the companies and their intent to collaborate in the Virgin Islands. The agreement then proceeds with specific clauses and provisions that address key areas such as: 1. Ownership and Governance: This section establishes the ownership structure and decision-making process within the operating relationship. It defines how shares and voting rights are distributed between NBC Internet, Inc. and Velocity, Inc., and outlines procedures for meetings, appointment of directors, and any special committees formed. 2. Operations and Management: Here, the agreement outlines responsibilities related to day-to-day operations. It details how decisions will be made, the roles and responsibilities of each party, and any limitations or restrictions on certain activities. This section may also cover topics such as hiring and employment policies, marketing and sales strategies, and financial management. 3. Financial Matters: The agreement includes provisions outlining financial responsibilities, such as how profits and losses will be shared, tax obligations, and the handling of financial assets and liabilities. It may also cover topics like capital contributions, debt management, and financial reporting requirements. 4. Intellectual Property: This section addresses the protection and use of intellectual property assets owned by NBC Internet, Inc. and Velocity, Inc. It includes provisions for licensing, transfer, or usage rights for trademarks, copyrights, patents, or any other intellectual property relevant to the operating relationship. 5. Dispute Resolution and Termination: The agreement outlines procedures for resolving conflicts or disagreements that may arise between the parties. It may include provisions for mediation, arbitration, or other alternative dispute resolution methods. Additionally, it specifies conditions under which the agreement can be terminated by either party. Different types of the Virgin Islands Operating Agreements between NBC Internet, Inc. and Velocity, Inc. may exist depending on the specific nature of their collaboration. For example, there could be agreements specific to joint ventures, partnerships, or licenses for particular products or services. Each agreement type will have its unique terms and conditions tailored to the nature and goals of the specific collaboration.

The Virgin Islands Operating Agreement between NBC Internet, Inc. and Velocity, Inc. is a legally binding document that outlines the terms and conditions under which the two companies will operate in the Virgin Islands. This agreement serves as a framework to establish the rights, responsibilities, and obligations of each party involved. The agreement covers various aspects of the operating relationship between NBC Internet, Inc. and Velocity, Inc. It begins with an introduction and background section, providing an overview of the companies and their intent to collaborate in the Virgin Islands. The agreement then proceeds with specific clauses and provisions that address key areas such as: 1. Ownership and Governance: This section establishes the ownership structure and decision-making process within the operating relationship. It defines how shares and voting rights are distributed between NBC Internet, Inc. and Velocity, Inc., and outlines procedures for meetings, appointment of directors, and any special committees formed. 2. Operations and Management: Here, the agreement outlines responsibilities related to day-to-day operations. It details how decisions will be made, the roles and responsibilities of each party, and any limitations or restrictions on certain activities. This section may also cover topics such as hiring and employment policies, marketing and sales strategies, and financial management. 3. Financial Matters: The agreement includes provisions outlining financial responsibilities, such as how profits and losses will be shared, tax obligations, and the handling of financial assets and liabilities. It may also cover topics like capital contributions, debt management, and financial reporting requirements. 4. Intellectual Property: This section addresses the protection and use of intellectual property assets owned by NBC Internet, Inc. and Velocity, Inc. It includes provisions for licensing, transfer, or usage rights for trademarks, copyrights, patents, or any other intellectual property relevant to the operating relationship. 5. Dispute Resolution and Termination: The agreement outlines procedures for resolving conflicts or disagreements that may arise between the parties. It may include provisions for mediation, arbitration, or other alternative dispute resolution methods. Additionally, it specifies conditions under which the agreement can be terminated by either party. Different types of the Virgin Islands Operating Agreements between NBC Internet, Inc. and Velocity, Inc. may exist depending on the specific nature of their collaboration. For example, there could be agreements specific to joint ventures, partnerships, or licenses for particular products or services. Each agreement type will have its unique terms and conditions tailored to the nature and goals of the specific collaboration.