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Multi Member LLC Operating Agreement

Multi Member LLC Operating Agreement Template for Philippines

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Key Requirements PROMPT example:

Multi Member LLC Operating Agreement

"I need a Multi Member LLC Operating Agreement for a technology startup in the Philippines with three founding members (two local and one foreign investor), including specific provisions for intellectual property protection and future funding rounds, to be implemented by March 2025."

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Document background
The Multi-Member LLC Operating Agreement is a foundational document used when establishing a Limited Liability Company with multiple owners in the Philippines. This document is essential for businesses seeking to operate under the limited liability structure while maintaining operational flexibility and clear governance structures. It must comply with the Revised Corporation Code of the Philippines and other relevant local regulations, including foreign investment restrictions where applicable. The agreement typically includes detailed provisions on capital contributions, profit sharing, management structure, voting rights, transfer restrictions, and dissolution procedures. It's particularly important for businesses with foreign investment considerations, complex ownership structures, or specific governance requirements. The document serves as the primary reference point for resolving member disputes and guiding company operations.
Suggested Sections

1. Parties: Identifies all founding members of the LLC and their contact information

2. Background: Explains the purpose of forming the LLC and the intentions of the members

3. Definitions: Defines key terms used throughout the agreement

4. Formation and Name: Details of LLC registration, business name, and registered address

5. Purpose and Powers: Specified business purposes and general powers of the LLC

6. Capital Contributions: Initial and additional capital contributions requirements from members

7. Membership Interests: Allocation of ownership interests and voting rights

8. Management Structure: Governance structure, appointment of managers, and decision-making processes

9. Meetings and Voting: Procedures for member meetings and voting requirements

10. Distributions and Allocations: Rules for profit distribution and loss allocation

11. Transfer Restrictions: Limitations on transferring membership interests

12. Exit Provisions: Procedures for member withdrawal, expulsion, or death

13. Dissolution: Circumstances and procedures for LLC dissolution

14. Books and Records: Requirements for maintaining company records and member access rights

15. Confidentiality: Protection of LLC's confidential information

16. Governing Law: Specification of Philippine law as governing law and jurisdiction

17. Amendment Procedures: Process for modifying the operating agreement

Optional Sections

1. Foreign Investment Compliance: Required when foreign members are involved, detailing compliance with Foreign Investments Act

2. Intellectual Property Rights: Needed when the LLC owns or develops significant IP assets

3. Competition Restrictions: Non-compete and non-solicitation provisions, if desired by members

4. Tag-Along Rights: Minority member protection in case of majority stake sale

5. Drag-Along Rights: Majority member rights to force minority participation in sale

6. Special Purpose Vehicle Provisions: Required for LLCs formed for specific projects or ventures

7. Employee Management: Required when LLC will have employees, covering hiring policies and procedures

8. Branch Office Provisions: Needed when LLC plans to operate branch offices

9. Dispute Resolution: Alternative dispute resolution procedures if preferred over court litigation

Suggested Schedules

1. Schedule A - Member Information: Detailed information about members, including contact details and initial capital contributions

2. Schedule B - Capital Contributions: Itemized list of initial capital contributions, including valuation of non-cash contributions

3. Schedule C - Membership Interests: Current allocation of membership interests and voting rights

4. Schedule D - Management Structure: Organizational chart and management responsibilities

5. Schedule E - Business Plan: Initial business plan and projected operations

6. Appendix 1 - Signature Pages: Member and manager signature pages

7. Appendix 2 - Meeting Procedures: Detailed procedures for conducting meetings and maintaining minutes

8. Appendix 3 - Valuation Methods: Agreed methods for valuing membership interests

9. Appendix 4 - Transfer Procedures: Detailed procedures for transferring membership interests

Authors

Alex Denne

Head of Growth (Open Source Law) @ 抖阴短视频 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions































































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Relevant Industries

Technology

Manufacturing

Real Estate

Professional Services

Retail

Food and Beverage

Construction

Healthcare

Education

Financial Services

Consulting

Agriculture

Import/Export

Entertainment

Tourism

Relevant Teams

Legal

Corporate Governance

Executive Leadership

Finance

Compliance

Risk Management

Corporate Secretariat

Business Development

Operations

Investment

Relevant Roles

Chief Executive Officer

Managing Director

Corporate Lawyer

Legal Counsel

Company Secretary

Chief Financial Officer

Business Development Manager

Compliance Officer

Risk Manager

Board Member

Operations Director

Investment Manager

Corporate Governance Officer

Managing Partner

Finance Director

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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