LLC Agreement (Common and Preferred Units, Board-Managed) | Practical Law

LLC Agreement (Common and Preferred Units, Board-Managed) | Practical Law

A long-form LLC agreement (also known as an operating agreement or limited liability company agreement) to be used for a Delaware limited liability company (LLC) with two or more members and two classes of membership interests (denominated in units) consisting of common and preferred units. This Standard Document assumes that the LLC is managed by managers who may or may not be members. This Standard Document includes integrated notes with important explanations and drafting and negotiating tips.

LLC Agreement (Common and Preferred Units, Board-Managed)

Practical Law Standard Document w-020-0274 (Approx. 200 pages)

LLC Agreement (Common and Preferred Units, Board-Managed)

by Practical Law Corporate & Securities
Maintained • Delaware, USA (National/Federal)
A long-form LLC agreement (also known as an operating agreement or limited liability company agreement) to be used for a Delaware limited liability company (LLC) with two or more members and two classes of membership interests (denominated in units) consisting of common and preferred units. This Standard Document assumes that the LLC is managed by managers who may or may not be members. This Standard Document includes integrated notes with important explanations and drafting and negotiating tips.