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Limited Liability Company Agreement

 

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Title:

Limited Liability Company Agreement

Entities:

Luminus Management LLC

Date:

2008

Size:

70KB total

Price:

$37

ID:

#3268219

 

 

► Corporate ► Bus. Formation ► Limited Liability Company Agreements

 

 

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LTAC SPV I, LLC


LIMITED LIABILITY COMPANY AGREEMENT



Dated as of February 21, 2008







 










INTERESTS IN THE COMPANY MAY ONLY BE SOLD, TRANSFERRED,
PLEDGED OR HYPOTHECATED SUBJECT TO THE LIMITATIONS AND
RESTRICTIONS SET FORTH HEREIN AND ONLY IN COMPLIANCE
WITH ALL APPLICABLE SECURITIES LAWS
.

 
 

 

LTAC SPV I, LLC

LIMITED LIABILITY COMPANY AGREEMENT

TABLE OF CONTENTS
 
ARTICLE I FORMATION OF THE COMPANY
3
 
Section 1.1
Formation of the Company.
3
 
Section 1.2
Name
3
 
Section 1.3
Business of the Company
3
 
Section 1.4
Location of Principal Office of the Company
4
 
Section 1.5
Registered Agent
4
 
Section 1.6
Term
4
       
ARTICLE II DEFINITIONS
4
       
ARTICLE III CAPITAL CONTRIBUTIONS
6
 
Section 3.1
Capital Contributions
6
 
Section 3.2
No Interest Paid on Capital Contribution(s)
7
 
Section 3.3
Withdrawal and Return of Capital Contributions
7
       
ARTICLE IV ALLOCATION OF NET INCOME AND NET LOSS
7
 
Section 4.1
Allocation of Net Income and Net Loss
7
 
Section 4.2
Other Allocation Provisions
7
 
Section 4.3
Allocations for Income Tax Purposes
8
 
Section 4.4
Withholding
8
       
ARTICLE V DISTRIBUTIONS
8
 
Section 5.1
Distributions Generally
8
 
Section 5.2
Limitations on Distributions.
9
 
Section 5.3
Reserves
9
       
ARTICLE VI BOOKS OF ACCOUNT; RECORDS AND REPORTS; FISCAL
YEAR
9
 
Section 6.1
Books and Records.
9
 
Section 6.2
Reports
10
 
Section 6.3
Fiscal Year
10
       
ARTICLE VII POWERS, RIGHTS AND DUTIES OF THE MEMBERS
10
 
Section 7.1
Limitations
10
 
Section 7.2
Liability
10
 
Section 7.3
Priority
10
 
Section 7.4
Restriction on Acquisition
10
 
Section 7.5
No Limitation on Managing Member
10
       
ARTICLE VIII POWERS, RIGHTS AND DUTIES OF THE MANAGING
MEMBER
10
 
Section 8.1
Authority, Power and Duties of the Managing Member
10


 
 

 



 
Section 8.2
Company Funds
11
 
Section 8.3
Limits on Managing Member's Powers
11
 
Section 8.4
Tax Matters Partner
11
 
Section 8.5
Exculpation; Modification of Duties.
12
 
Section 8.6
Exculpation and Indemnification of the Members.
12
 
Section 8.7
Expenses
13
 
Section 8.8
Activities of Managing Member; Conflicts of Interest
13
 
Section 8.9
Removal and Replacement of the Managing Member
15
       
ARTICLE IX TRANSFERS
15
 
Section 9.1
Transfers Generally
15
 
Section 9.2
Transfers of Interests of Members.
15
 
Section 9.3
Consequences of Transfers.
16
 
Section 9.4
Transferee to Succeed to Transferor's Capital Account
16
 
Section 9.5
Additional Filings
16
 
Section 9.6
Safe Harbor Election in Connection with Certain Transfers
16
       
ARTICLE X WITHDRAWAL OF MEMBERS; TERMINATION OF THE
COMPANY; LIQUIDATION AND DISTRIBUTION OF
ASSETS
17
 
Section 10.1
Withdrawal of Members
17
 
Section 10.2
Dissolution of the Company.
17
 
Section 10.3
Distribution in Liquidation.
18
 
Section 10.4
Final Statement of Assets and Liabilities
19
 
Section 10.5
No Deficit Restoration Obligation
19
 
Section 10.6
Termination of the Company
19
       
ARTICLE XI ADMISSION OF ADDITIONAL MEMBERS
19
 
Section 11.1
Admission of Additional Members
19
       
ARTICLE XII NOTICES AND VOTING
20
 
Section 12.1
Notices
20
 
Section 12.2
Voting
20
       
ARTICLE XIII AMENDMENT OF AGREEMENT
20
 
Section 13.1
Amendments.
20
 
Section 13.2
Amendment of Certificate
20
 
Section 13.3
Power of Attorney
20
       
ARTICLE XIV MISCELLANEOUS
21
 
Section 14.1
Entire Agreement
21
 
Section 14.2
Applicable Law
21
 
Section 14.3
Effect
22
 
Section 14.4
Survival
22
 
Section 14.5
Pronouns and Number
22
 
Section 14.6
Captions
22
 
Section 14.7
Partial Enforceability
22


 
 

 
 

 
Section 14.8
Counterparts
22
 
Section 14.9
No Third Party Beneficiaries
22

LTAC SPV I, LLC
 
LIMITED LIABILITY COMPANY AGREEMENT

 

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