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1. "Operating Agreement" means the Operating Agreement on the International Maritime Satellite Organization (INMARSAT), including its Annex.
2. If a wholesaler accepts the VP, a written Operating Agreement will be presented and signed to finalize the partnership arrangement.
3. Each Party shall sign the Operating Agreement or shall designate a competent entity, public or private, subject to the jurisdiction of that Party, which shall sign the Operating Agreement.
4. Similar to the partnership entities, the LLC is governed by an operating agreement. The LLC may be formed by one or more members.
5. The relationships between the members of a LLC are governed by the operating agreement. The creation and operation of LLCs are governed by each state's statute which specifically provides for LLCs.
6. Each Signatory shall have a financial interest in the Organization in proportion to its investment share which shall be determined in accordance with the Operating Agreement.
7. While Georgia state law provides some default provisions,(Sentencedict.com) custom provisions in the operating agreement can replace them.
8. "Signatory" means either a Party or an entity designated in accordance with Article 2 (3), for which the Operating Agreement has entered into force.
9. If accepted, the partnership is confirmed with the signing of an operating agreement.
10. Each Signatory shall contribute to the capital requirements of the Organization and shall receive capital repayment and compensation for use of capital in accordance with the Operating Agreement.
11. If any of the companies take legal action over the bills, they will likely be settled in private arbitration, as stipulated in their operating agreement.
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