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Managers of an LLC, if any, may also have apparent authority. An interest holder, as such, does not have apparent authority to bind the company. Members also have certain exclusive rights, including access the LLC’s books and records. They have the power, in some cases, to bring ...
Also found in:Legal,Financial. limited liability company n.Abbr.LLC A company managed by members or elected managers, like a partnership, but with the liability of the members limited to the amount of capital they have invested in the business. ...
Since the company did not elect to liquidate their interests, the court concluded, the Faction #1 members “have ceased to be members of [the LLC] and, therefore, only have a remaining economic interest in the LLC.” An astute member or its counsel, armed with knowledge o...
LLC MEMBERSHIP INTEREST PURCHASE AGREEMENT, dated as of ___,___,___(M/D/Y), by and among AAA, a limited liability company organized under the laws of the state of ___(Address) ( AAA ), BBB Holdings, Inc., as nominee, a corporation organized under the laws of the state of ___...
It is stated that for the lender to take ownership of the LLC units, the lender must foreclose on its security interest through one of two processes detailed in the UCC. One process is commonly referred to...
WHEREAS, Seller owns all of the issued and outstanding membership interests, in Xxxxxxxx Northern Exploration LLC, a Nevada limited liability company (“CNEL”), and 25% of the issued and outstanding membership interest in Pelen Limited-Liability Company, a Nevada limited liability company (“Pelen...
MEMBERSHIP INTEREST PURCHASE AGREEMENT This MEMBERSHIP INTEREST PURCHASE AGREEMENT (this “Agreement”), dated as of June 27, 2024 (the “Execution Date”), is entered into by and between D1-LV CE Seller LLC, a Delaware limited liability company (“Seller”), and LV-Xxxxxxx Parent Holdco LLC...
The owners of an LLC are known as “members” and their financial interest in the company is represented by membership units or shares. Basically, membership units are a way of representing each individual’s share in the profits generated by the business. They allow members to allot different...
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