This publication was published by Fast Ventures and can be reviewed on http://publications.fastventures.com/sample-llc-operating-agreement-for-distressed--real-estate-investment-fund.
Product Type
Sample Document
Product ID
SA02012010
Product Format
Microsoft Word (.doc)
Product Length
21 Pages
Product Price
$ 14.95
This is an investment-grade Limited Liability Company/Operating Agreement for a member-managed Distressed Residential Real Estate Investment Fund; structured as a Delaware LLC. The document was used in conjunction with our Sample Private Placement Memorandum for Distressed Residential Real Estate Investment Fund to complete a $4.5 million Series A private equity round.
The download includes an easy-to-fill template with central data management file that hosts all document specific information and inserts it throughout the template.
ARTICLE I. DEFINITIONS
Section 1.01 Definitions
ARTICLE II. RESTATEMENT OF EXISTING AGREEMENT
Section 2.01 Statement
Section 2.02 Admission of Members
ARTICLE III. ORGANIZATION
Section 3.01 Name
Section 3.02 Purpose
Section 3.03 Office
Section 3.04 Term of the Company
ARTICLE IV. CAPITAL ACCOUNTS
Section 4.01 Capital Contributions by Limited Members
Section 4.02 Additional Contributions
Section 4.03 Capital Accounts
ARTICLE V. TAXATION, ALLOCATIONS, AND DISTRIBUTIONS
Section 5.01 Election of Entity Classification
Section 5.02 Determination of Profits and Losses
Section 5.03 Allocation of Income, Gains, Profits and Losses
Section 5.04 Distributions
ARTICLE VI. THE MANAGING GENERAL MEMBERS
Section 6.01 The Managing General Members
Section 6.02 Appointment of Managing General Members
Section 6.03 Authority of Managing General Members
Section 6.04 Limitations of Managing General Members\' Authority
Section 6.05 Indemnification
Section 6.06 Retirement, Withdrawal, or Incapacity of a Managing General Member
Section 6.07 Outside Interests
Section 6.08 Conflict of Interest
Section 6.09 Management Fee
ARTICLE VII. LIMITED MEMBERS
Section 7.01 Management
Section 7.02 Assignment of Limited Membership Interests
Section 7.03 Delinquency of Limited Member
ARTICLE VIII. OPERATIONS
Section 8.01 Fiscal Year
Section 8.02 Books and Records
Section 8.03 Financial Reports
Section 8.04 Bank Accounts
ARTICLE IX. TERMINATION
Section 9.01 Dissolution
Section 9.02 Winding up the Fund
ARTICLE X. MISCELLANEOUS PROVISIONS
Section 10.01 Notices
Section 10.02 Paragraph Headings
Section 10.03 Severability
Section 10.04 Sole Agreement
Section 10.05 Applicable Law
Section 10.06 Execution in Counterparts
Section 10.07 Waiver of Action for Partition
Section 10.08 Amendments
Section 10.09 Consent to Allocations and Distributions
Section 10.10 Delaware Law
Section 10.11 Representations and Warranties of the Managing General Members