Xyz Limited Liability Company Operating Agreement Page 6
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28with or dispose of any and all real property of whatsoever character and
wheresoever situated at such time or times and in such manner and upon such
terms as the Managers deem expedient and proper. To give options therefore, to
execute deeds, transfers, leases, pledges, mortgages, and other instruments of
any kind. Any leases and contracts may extend beyond the term of the
Company.
b.
To acquire any personal property for the use of the Company.
c.
To purchase, invest in, or otherwise acquire, and to retain, any and
all stocks, bonds, notes, or other securities, or any variety of real or personal
property,
including stocks or interests in investment trusts and common trust
funds operated and managed by a corporate trustee.
d.
To sell, transfer, assign, convey, lease, exchange, or otherwise
dispose of any or all of the assets of the Company upon such terms and
conditions as the Members deem advisable, including a deferred payment sale or
an exchange for other assets of any kind.
e.
To place record title to, or the right to use, Company assets in the
name of a Manager or the name of the nominee for any purpose convenient or
beneficial to the Company.
f.
To open and to close checking accounts, savings accounts and safety
deposit boxes in banks or similar financial institutions, with or without
indication of any fiduciary capacity. To deposit cash in and withdraw cash from
such accounts and boxes, with or without any indication of any fiduciary
capacity. To hold such accounts and securities in bearer form, or in the name of a
Manager or in the name of a nominee, with or without indication of any
fiduciary capacity.
g.
To borrow money upon terms acceptable to the Managers from any
person or entity, to pledge or mortgage any property as security therefore and to
renew any indebtedness incurred by the Managers.
h.
To employ brokers, consultants, attorneys, accountants, architects,
engineers, property managers, leasing agents and other agents, persons or
entities
deemed appropriate to the conduct of the Company business,
including, without limitation, any persons or entities related to a Manager or in
which a Manager has an interest.
i.
To adjust, arbitrate, compromise, sue, defend, settle, abandon or
otherwise deal with any and all claims in favor of or against the Company.
j.
To acquire and enter into any contract of insurance which the
Managers deem necessary and proper for the protection of the Company, for the
conservation of its assets, or for any purpose convenient or beneficial to the
Company.
k.
To execute and deliver on behalf of the Company such documents or
instruments as the Managers deem appropriate in the conduct of the Company
6
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