Band Llc Operating Agreement Template

No waiver of performance of any condition or non-performance of any obligation under this Agreement shall be effective unless signed in writing and by the party granting the waiver. Such waiver shall not constitute a waiver of the performance of any other condition or the breach of any other obligation, and no waiver shall constitute a continuing waiver unless otherwise specified in writing. If your band wants to win, you have to think about more than just making music. By discussing how you are going to do business (everyone still gets along), you can clarify responsibilities, simplify decision-making, and avoid conflicts. Ideally, the decisions you make will be documented, reducing the risk of misunderstandings. Indemnification – For individual member agreements, this section states that all acts of the company release the only person and all employees or members of his family from any act of the company. This is within the scope of what is reasonable and, in case of gross negligence, the member can nevertheless be held liable. Note that neither the sample-band agreement on MusicBizAcademy nor the information in this article should be considered legal advice. Consider the sample agreement and this article as a resource that allows you to identify the needs of your band.

This agreement exists between and , and , and , and , and , and , and (collectively and professionally referred to as „. Second, a limited liability company offers the greatest flexibility for a link in terms of ownership, decision-making and distribution of sales. While it is possible to create a company that operates as a bespoke limited liability company, the processes are often confusing and complicated. This first part of the company agreement fulfills 4 main functions: a group is a company. As with any business, group members should agree in advance on how business is managed, how revenue is distributed, and what happens when one or more members leave the group. If there are any changes or modifications to be made to this Agreement, ensure that there are sufficient rules so that no party can make changes without the agreement of the majority or all members. From contributions to dissolution, there is a lot to cover in a company agreement. .