Company Operating Agreement Sample
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Business Negosyo Legal Ligal agreement company Member Interest Members Agreements Printable Sample Operating Agreements
How to draft a proper Company Operating Agreement Sample? Download this Company Operating Agreement Sample template that will perfectly suit your needs!
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SECTION 4 INDEMNIFICATION The Company shall indemnify any person who was or is a party defendant or is threatened to be made a party defendant, pending or completed action, suit or proceeding, whether civil, criminal, administrative, or investigative (other than an action by or in the right of the Company) by reason of the fact that he is or was a Member of the Company, Manager, employee or agent of the Company, or is or was serving at the request of the Company, against expenses (including attorney s fees), judgments, fines, and amounts paid in settlement actually and reasonably incurred in connection with such action, suit or proceeding if the Members determine that he acted in good faith and in a manner he reasonably believed to be in or not opposed to the best interest of the Company, and with respect to any criminal action proceeding, has no reasonable cause to believe his/her conduct was unlawful.. 8.2.4 If the other Members fail or refuse to notify the transferring Member of their desire to acquire all of the Interest proposed to be transferred within the 30day period following receipt of the Notice, then the Members will be deemed to have waived their right to acquire the Interest on the terms described in the Offer, and the transferring Member may sell and convey the Interest consistent with the Offer to any other person or entity provided, however, that notwithstanding anything in Section 8.2 to the contrary, should the sale to a third person be at a price or on terms that are more favorable to the purchaser than stated in the Offer, then the transferring Member must reoffer the sale of the Interest to the remaining Members at that other price or other terms provided, further, that if the sale to a third person is not closed within six months after the expiration of the 30day period describe above, then the provisions of Section 8.2 will again apply to the Interest proposed to be sold or conveyed.. On the dissolution of the Company (if the Company is not
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