This page was read by OCR. Text can misread numbers, dates or table columns. Check the PDF before quoting or interpreting it. Redacted areas remain redacted.
initial contribution to the capital of the Company by the Member, as determined pursuant
to Section 6.01 hereof.
(f) “Code” shall mean the Internal Revenue Code of 1986 or
corresponding provisions of subsequent superseding federal revenue laws.
(g) “Company” shall refer to Orcutt TH 30 LLC.
(h) “Entity” shall mean any general partnership, limited partnership,
limited liability company, corporation, joint venture, trust, business trust, cooperative or
other association.
(i) “Board of Managers” shall mean the board of managers of the
Company, whose rights, powers and duties are specified in Article V hereof.
(j) “Member” shall mean each Person that is identified as an initial
Member in Article II] hereof or is admitted as an additional Member. A Person shall cease
to be a Member at such time as it no longer owns any Membership Interest.
(k) “Membership Interest” shall mean the ownership interest of a Member
in the Company, which may be expressed as a percentage equal to such Member's
Capital Account divided by the aggregate Capital Accounts of all Members. The
Membership Interests may be recorded from time to time on a schedule attached to this
Operating Agreement.
(I “Operating Agreement” shall mean this Operating Agreement, as
originally executed and as amended from time to time.
(m) “Person” shall mean any natural person or Entity, and the heirs,
executors, administrators, legal representatives, successors, and assigns of such Person
where the context so admits.
ARTICLE II
PURPOSES AND POWERS OF COMPANY
2.01 Purposes. The purposes of the Company shall be to:
(a) Own, acquire, manage, develop, operate, buy, sell, exchange,
finance, refinance, and otherwise deal with commercial real estate investments, personal
property, and any type of business, as the Board of Managers may from time to time
deem to be in the best interests of the Company; and
(b) Acquire, own, buy, sell, invest in, trade, manage, finance, refinance,
exchange, or otherwise dispose of stocks, securities, partnership interests, CDs, mutual
funds, commodities, and any and all investments whatsoever, that the Board of Managers
may from time to time deem to be in the best interests of the Company;Jump to an indexed page (65 of 65)