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Investment LLC Operating Agreement

Investment LLC Operating Agreement Template for South Africa

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Key Requirements PROMPT example:

Investment LLC Operating Agreement

"I need an Investment LLC Operating Agreement for a technology-focused venture capital firm based in Cape Town, with five founding members who will all serve on the investment committee, and specific provisions for co-investment rights and deal-by-deal carry distribution."

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Document background
The Investment LLC Operating Agreement is a foundational document used when establishing an investment-focused limited liability company in South Africa. It serves as the primary governing document that defines the relationship between members, establishes management structures, and sets out investment policies and procedures. This agreement is particularly crucial in the South African context, where it must comply with the Companies Act 71 of 2008 and various financial sector regulations, including FICA and FAIS Act requirements where applicable. The document is essential for any group of investors or investment professionals looking to pool capital and conduct investment activities through a structured vehicle, providing clarity on capital contributions, profit sharing, investment decision-making, and exit provisions. The agreement typically includes comprehensive provisions for governance, risk management, and regulatory compliance, making it suitable for various investment strategies while protecting member interests.
Suggested Sections

1. Parties: Identification of all founding members (investors) and the LLC entity

2. Background: Context of the agreement's formation and purpose of the investment LLC

3. Definitions and Interpretation: Definitions of key terms and interpretation rules used throughout the agreement

4. Formation and Name: Details of company formation, registered name, and registered office

5. Purpose and Powers: Company's investment objectives and scope of authorized activities

6. Capital Contributions: Initial and subsequent capital contributions, valuation methods, and capital accounts

7. Membership Interests: Classes of membership, voting rights, and economic rights

8. Management Structure: Roles and responsibilities of managers, decision-making processes, and voting thresholds

9. Investment Policy: Investment strategy, permitted investments, and investment restrictions

10. Distributions: Profit distribution policy, dividend declarations, and distribution priorities

11. Transfer of Interests: Rules for transferring membership interests, right of first refusal, and transfer restrictions

12. Meetings and Resolutions: Procedures for member and management meetings, voting, and written resolutions

13. Financial Affairs: Accounting practices, financial statements, and audit requirements

14. Dissolution and Liquidation: Process for winding up the LLC and asset distribution

15. General Provisions: Standard clauses including notices, amendments, and governing law

Optional Sections

1. Investment Committee: Required when the LLC wants a dedicated committee to oversee investment decisions

2. Advisory Board: Optional section for establishing an advisory board to provide strategic guidance

3. Co-Investment Rights: Include when members have rights to participate in future investment opportunities

4. Key Person Provisions: Required when success depends on specific individuals' continued involvement

5. Tag-Along and Drag-Along Rights: Include for larger investment LLCs with potential exit strategies

6. Special Purpose Vehicle (SPV) Provisions: Include when the LLC may create SPVs for specific investments

7. Regulatory Compliance: Required for LLCs subject to specific financial services regulations

8. Environmental, Social and Governance (ESG): Include when the LLC has specific ESG investment criteria

Suggested Schedules

1. Schedule 1: Member Details: List of members, their contact details, and initial capital contributions

2. Schedule 2: Investment Guidelines: Detailed investment criteria, restrictions, and target sectors

3. Schedule 3: Valuation Methodology: Agreed methods for valuing investments and membership interests

4. Schedule 4: Management Fee Structure: Details of management fees and expense allocations

5. Schedule 5: Distribution Waterfall: Detailed distribution priorities and calculations

6. Appendix A: Form of Deed of Adherence: Template for new members joining the LLC

7. Appendix B: Compliance Procedures: FICA and other regulatory compliance procedures

8. Appendix C: Investment Committee Charter: Terms of reference for the Investment Committee if applicable

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions








































































Clauses












































Relevant Industries

Financial Services

Private Equity

Venture Capital

Asset Management

Real Estate Investment

Infrastructure Investment

Technology Investment

Mining and Resources Investment

Renewable Energy Investment

Agricultural Investment

Healthcare Investment

Professional Services

Relevant Teams

Legal

Compliance

Investment

Risk Management

Finance

Operations

Corporate Governance

Portfolio Management

Business Development

Executive Leadership

Relevant Roles

Chief Executive Officer

Chief Investment Officer

Chief Financial Officer

Investment Director

Portfolio Manager

Legal Counsel

Compliance Officer

Risk Manager

Investment Analyst

Fund Manager

Managing Partner

Company Secretary

Director of Operations

Investment Committee Member

Board Member

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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