The value set forth in the most recent "Certificate of Value" signed by all Members within the last [12] months.
The balance paid in equal quarterly installments over [3–5] years. llc operating agreement buy sell provisions
Note: This is often funded by Life Insurance or Disability Buy-Out insurance policies maintained by the Company. [X].5 Determination of Purchase Price The value set forth in the most recent
Interest shall accrue on the unpaid balance at the [Current Federal Prime Rate]. [X].7 Drag-Along and Tag-Along Rights The selling Member must provide written notice to
If a majority Member sells their interest, minority Members have the right to "tag along" and join the sale on the same terms. Key Considerations for Your Specific LLC:
Unless otherwise agreed, the purchase price shall be paid as follows: A down payment of [20]% at closing.
The selling Member must provide written notice to the Company and other Members.