FOR
ACCOUNT_JOB_COMPANY
ARTICLE 1: DEFINITIONS
The following terms used in this Operating Agreement shall have the following meanings:
“Additional Member” means any Person or Entity who or which is admitted to the Company as an Additional member pursuant to the laws of the state of STATE
“Capital Account"’ as of any given date means the Capital Contribution to the Company by a Member as adjusted up to the date in question pursuant to Article 9.
“Capital Contribution” means any contribution to the capital of the Company in cash or property by a Member whenever made. ‘Initial Capital Contribution” means the initial contribution to the capital of the Company pursuant to this Operating Agreement.
"Code” means the Internal Revenue Code of 1986 or corresponding provisions of subsequent superseding federal revenue laws.
“Company” refers to ACCOUNT_JOB_COMPANY.
“Distributable Cash” means all cash, revenues and funds received by the Company from Company operations, less the sum of the following to the extent paid or set aside by the Company: (i) all principal and interest payments on indebtedness of the Company and all other sums paid by lenders; (ii) all cash expenditures incurred incident to the normal operation of the Company’s business; (iii) such cash Reserves as the Manager deems reasonably necessary to the proper operation of the Company’s business.
“Entity” means any general partnership, limited partnership, limited liability company, corporation, joint venture, trust, business trust, cooperative or association.
“Fiscal Year” means the Company’s fiscal year, which shall be the calendar year.
“Interest” means, as the context requires, (a) the entire ownership interest of a Member in the Company at the pertinent time, including all rights and obligations under this Agreement and other applicable law, (b) the percentage that a Member’s Capital Account bears to the aggregate Capital Accounts of all Members as determined at the pertinent time in accordance with this Operating Agreement, and/or (c) with respect to a purchaser, assignee, or other transferee which is not admitted as Substitute Member, only those rights described in Section IT
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