Limited Liability Company Agreement

LimitedLiabilityCompanyAgreementA_________(STATE)LIMITEDLIABILITYCOMPANYEFFECTIVEASOF_________(M,D,Y)THEINTERESTSDESCRIBEDANDREPRESENTEDBYTHISLIMITEDLIABILITYCOMPANYAGREEMENTHAVENOTBEENREGISTEREDUNDERTHESECURITIESACTOF1933(THE'ACT'ORANYAPPLICABLESTATESECURITIESLAWS('STATEACTS')ANDARERESTRICTEDSECURITIESASTHATTERMISDEFINEDINRULE144UNDERTHEACT.THESECURITIESMAYNOTBEOFFEREDFORSALE,SOLD,OROTHERWISETRANSFERREDEXCEPTPURSUANTTOANEFFECTIVEREGISTRATIONSTATEMENTORQUALIFICATIONUNDERTHEACTANDAPPLICABLESTATEACTSORPURSUANTTOANEXEMPTIONFROMREGISTRATIONUNDERTHEACTANDAPPLICABLESTATEACTS,THEAVAILABILITYOFWHICHISTOBEESTABLISHEDTOTHESATISFACTIONOFTHECOMPANY.TABLEOFCONTENTSArticle1.DEFINITIONS1.1AccretionAmount1.2Act1.3Affiliate1.4Agreement1.5Business.1.6BusinessPlan1.7CapitalAccount1.8CapitalContribution.1.9CertificateofFormationorCertificate1.10ChangeofControl1.11Code.1.12CommonUnit1.13Company1.14CompanyProperty.1.15ConfidentialInformation.1.16DeficitCapitalAccount1.17Depreciation.1.18DistributableCash.1.19Distribution.1.20EconomicInterest1.21EconomicInterestOwner1.22Entity.1.23EquityOwner.1.24FiscalYear1.25GrossAssetValue1.26Holders1.27IPO1.28IntellectualPropertyRights.1.29LicenseAgreement1.30MajorityInterest1.31Manager1.32Member.1.33MembershipInterest1.34FFF.1.35FFFOptions.1.36FFFDilutiveUnits1.37NII1.38NIISale.1.39NoncompetitiveActivity1.40HHHPartnersDomestic.1.41HHHPartnersOverseas.1.42HHHPartners1.43OwnershipInterest.1.44PreferredSaleFee.1.45ProportionatelyDilutiveUnits.1.46PutPeriod.1.47PutRight1.48Person.1.49PreferredtoCommonConversionOption1.50PreferredUnits1.51ProfitsandLosses.1.52Proportionately1.53RedemptionPrice.1.54Regulations1.55Reorganization.1.56Reserves.1.57SaleorSell.1.58SecretaryofState.1.59SellingEquityOwner.1.60SharingRatio1.61State1.62SuccessorCorporation1.63TwoThirdsInterest1.64UnrecoveredLosses.1.65VotingInterestArticle2.FORMATIONOFCOMPANY2.1Formation2.2Name.2.3PrincipalPlaceofBusiness2.4RegisteredOfficeandRegisteredAgent.2.5Term.1Article3.BUSINESSOFCOMPANY.3.1PermittedBusiness.Article4.NAMESANDADDRESSESOFEQUITYOWNERSArticle5.RIGHTSANDDUTIESOFMANAGERANDOFFICERS.5.1Management5.2Number,TenureandQualifications.5.3CertainPowersofManager.5.4LimitationsonAuthority5.5LiabilityforCertainActs5.6ManagerandMembersHaveNoExclusiveDutytoCompany;NoncompetitionCovenant5.7BankAccounts.5.8IndemnityoftheManager,EmployeesandOtherAgents5.9Resignation.5.10Removal5.11Vacancies5.12Compensation,Reimbursement,OrganizationExpenses.5.13AnnualOperatingPlan5.14RighttoRelyontheManager.5.15Officers.Article6.RIGHTSANDOBLIGATIONSOFEQUITYOWNERS.6.1LimitationofLiability6.2ListofEquityOwners6.3EquityOwnersHaveNoAgencyAuthority.6.4CompanyBooks6.5PriorityandReturnofCapital6.6LicenseAgreement6.7Warrants.Article7.MEETINGSOFMEMBERS.7.1NoRequiredMeetings.7.2PlaceofMeetings7.3NoticeofMeetings.7.4MeetingofallMembers.7.5RecordDate7.6Quorum.7.7MannerofActing.7.8Proxies7.9ActionbyMembersWithoutaMeeting7.10WaiverofNotice.Article8.CONTRIBUTIONSTOTHECOMPANYANDCAPITALACCOUNTS.8.1Members'CapitalContributions.8.2AdditionalContributions.8.3CapitalAccounts.8.4WithdrawalorReductionofEquityOwners'ContributionstoCapital.Article9.ALLOCATIONS,INCOMETAX,DISTRIBUTIONS,ELECTIONSANDREPORTS.9.1AllocationsofProfitsandLossesfromOperations9.2SpecialAllocationstoCapitalAccounts9.3CreditorChargetoCapitalAccounts.9.4Distributions9.5LimitationUponDistributions9.6AccountingPrinciples9.7InterestonandReturnofCapitalContributions9.8LoanstoCompany.9.9AccountingPeriod9.10RecordsandReports9.11ReturnsandOtherElections9.12TaxMattersPartner9.13CertainAllocationsforIncomeTax(ButNotBookCapitalAccountPurposes.Article10.TRANSFERABILITY10.1General10.2RightofFirstRefusalandCoSale.10.3TransfereeNotMemberinAbsenceofConsent10.4AdditionalConditionstoRecognitionofTransferee.10.5PutRights.10.6SalestoAffiliates10.7RightofFirstOffer.Article11.ISSUANCEOFMEMBERSHIPINTERESTS;OPTIONS;CONVERSIONRIGHTS.11.1IssuanceofAdditionalMembershipIntereststoNewMembers;RightofFirstOffer.11.2FFFOptions.11.3ConversionofPreferredUnitstoCommonUnits11.4IssuanceofCommonUnits(andOptionstoAcquireCommonUnits)toEmployees;Dilution11.5ConversionofCommonUnitsUponReorganization.11.6PartYearAllocationsWithRespecttoNewMembersArticle12.DISSOLUTIONANDTERMINATION12.1Dissolution12.2EffectofDissolution12.3WindingUp,LiquidationandDistributionofAssets.12.4FilingorRecordingStatements.12.5ReturnofContributionNonrecoursetoOtherEquityOwnersArticle13.MISCELLANEOUSPROVISIONS.13.1Notices.13.2BooksofAccountandRecords13.3ApplicationofStateLaw13.4WaiverofActionforPartition13.5Amendments13.6ExecutionofAdditionalInstruments.13.7Construction13.8EffectofInconsistencieswiththeAct13.9Waivers.13.10RightsandRemediesCumulative13.11Attorneys'Fees.13.12Severability13.13Heirs,SuccessorsandAssigns.13.14Creditors.13.15Counterparts13.16RuleAgainstPerpetuities.13.17PowerofAttorney.13.18InvestmentRepresentations13.19RepresentationsandWarranties13.20ERISARepresentationandCovenant.13.21ConfidentialInformationThisLimitedLiabilityCompanyAgreementismadeandenteredintoeff