Llc Operating Agreement Buy Sell Provisions -

For 50/50 partnerships, you might add a "Push-Pull" clause where one partner names a price, and the other must either buy the first partner out or sell their own interest at that exact price.

If a member dies, does the company have the cash to buy them out? (This is why Buy-Sell Life Insurance is standard).

If Members holding [75]% of the Company agree to sell to a third party, they may "drag" the minority Members, requiring them to sell on the same terms. llc operating agreement buy sell provisions

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:

of this Operating Agreement that remains uncured. [X].3 Right of First Refusal (ROFR) For 50/50 partnerships, you might add a "Push-Pull"

If the parties cannot agree on a value at the time of the Triggering Event, the price shall be determined by:

The Company has the first right to purchase the Interest at the offered price. If Members holding [75]% of the Company agree

No Member shall sell, assign, pledge, or otherwise transfer all or any part of their Membership Interest, whether voluntarily or by operation of law, except in accordance with the terms of this Article. Any attempted transfer in violation of this Agreement shall be null and void. [X].2 Triggering Events