Management Provision in a 50/50 Real Estate Joint Venture (Managing Member Subject to Executive Committee or Board of Managers Approval) | Practical Law

Management Provision in a 50/50 Real Estate Joint Venture (Managing Member Subject to Executive Committee or Board of Managers Approval) | Practical Law

Management provisions that can be used in a limited liability company (LLC) operating agreement for a real estate joint venture formed between two members each holding a fifty percent interest. In these provisions, a board of managers approves major decisions of the joint venture. These Standard Clauses have integrated notes with important explanations and drafting and negotiating tips for both members.

Management Provision in a 50/50 Real Estate Joint Venture (Managing Member Subject to Executive Committee or Board of Managers Approval)

by Practical Law Real Estate
Maintained • USA (National/Federal)
Management provisions that can be used in a limited liability company (LLC) operating agreement for a real estate joint venture formed between two members each holding a fifty percent interest. In these provisions, a board of managers approves major decisions of the joint venture. These Standard Clauses have integrated notes with important explanations and drafting and negotiating tips for both members.