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LLC Operating Agreement Template – DocsCreator

An operating agreement is the code by which Limited Liability Companies (LLC) operate. In many states an operating agreement is not compulsory because in its absence the state law will apply by default. That may not be suitable situation for many LLCs, which require specific provisions for their management. Though an operating agreement is not required to be in writing, it is prudent to have it properly documented and signed by all members, or by the sole member in the case of a single-member LLC. This will avoid confusion and misunderstandings, and also clarify the limited liability status. An operating agreement basically covers the rights and responsibilities of members, how the company will be managed, and the manner in which the profits and losses are to be split. Due thought has to be given to such points, because they can have long-term impact on the LLC. Apart from routine details, the major points to be covered in an operating agreement include members' voti...
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 In basic words, a commercial lease agreement is a lawful contract between the property owner and the lessee to rent out a property. Essentials of a Commercial Lease Agreement - Owner -- the proprietor that is renting the home - Lessee -- the occupant that is paying for the leased property - A binding document -- the lease that defines the terms and conditions - The period of the lease Usual kinds of the Commercial Lease Agreement Net Lease -- The renter pays all or some additional expenses, that include taxes, insurance, or upkeep expenses, along with the specified rent. There are 3 kinds of web leases: - Single Net Lease -- The renter pays rent and real estate tax. - Dual net lease -- In addition to rent, the lessee also spends on taxes and insurance. - Triple Net Lease -- The renter pays taxes, insurance coverage, and upkeep along with the deal with the lease. Gross Lease/Full Service Lease -- The tenant pays only the rental fee, which also covers all building overhead like uti...
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