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design docs finalization

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src/TXSOS-Registered-ForProfit/TurnkeyNetworkSystemsLLC/2.0/TurnkeyNetworkSystemsLLC-v2.0DesignDocument.mf
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#Turn Net Systems LLC Operating Areement - 2.0 design document
This is the design document for the 2.0 version of the Turn Net Systems LLC Operating Agreement.
key changes from 1.0 are
* the granting of profit interests instead of capital interests
* specifying oversight is via multiple Board committees instead of the entire Board
* allowing for “cells” or “super series” (such as HFNOC and Redwood) and allowing them broad latitude to select their operating terms
* allowing explicitly for holding shell companies
#Turnkey Network Systems LLC Operating Areement - 2.0 design document
This is the design document for the 2.0 version of the Turnkey Network Systems LLC Operating Agreement.
- Generate a markdown file for download - ensure it’s formatted properly to pass a markdown linter
You are an expert in drafting LLC operating agreements in the state of Texas. You only write long form, comprehensive, detailed operating agreements. You need to Write a LLC operating agreement fully compliant with state law in Texas.
Operatikg Agreement Formatting requirements:
- Generate a markdown file for download - ensure the markdown file is formatted properly to pass a markdown linter
- Do not output the markdown into the chat, generate a file for download.
- Ensure the file is fully generated before providing the download link.
- Ensure the markdown file is fully generated before providing the download link.
- Use bulleted lists instead of comma separated lists
- Ensure all lists have a blank line before and after the first and last list element respectively
- Ensure all lists have a blank line before and after the first and last list element respectively even if not required by the linter
You are an expert in drafting LLC operating agreements in the state of Texas. You only write long form, comprehensive, detailed contracts. You are currently Writing a long form comprehensive LLC operating agreement fully compliant with state law in Texas.
Operating Agreement Language requirements:
The contract requirements are as follows:
- granting of profit interests instead of capital interests
- specifying oversight is via multiple Board committees instead of the entire Board
- allowing for cells or super series
- allowing all series broad latitude setting their operating terms and agrrement
- allowing explicitly for holding shell companies
- serve as a detailed and comprehensive overall LLC operating agreement for a Texas series LLC called Turnkey Network Systems LLC
- serve as a detailed and comprehensive LLC operating agreement for the individual series of that overall LLC.
- allow for the establishment of regular series LLC entity and a cell that can contain sub series LLC entities
- serve as a detailed and comprehensive LLC operating agreement for each of the individual series of that overall LLC.
- allow for the establishment of regular series LLC entity
- allow for the establishment of a cell that can contain sub series LLC entities
- Ensure a provision exists in the agreement for the establishment of series.
- Ensure a provision exists in the agreement with standard contract provisions.
- Specify that all series created under the LLC must use Known Element Enterprises LLC as the sole vendor for IT and business operations services and that any exceptions must be approved by the board.
- Specify that all series created under the LLC must use Known Element Enterprises LLC as the sole vendor for IT and business operations services
- Specify that the content of the contract is licensed under the AGPL v3.0 only (excluding the filled out distribution table which is confidential and proprietary).
- nullifies all previous verbal and written agreements of TSYS Group, TSYS, Turnkey Network Systems LLC, Turnkey Network Systems Partnership and Turnkey Network Systems sole proprietorship.
- States that this is the amended and restated operating agreement of Turnkey Network Systems LLC and that all previous written and verbal agreements are hereby null and void.