All Countries
Risk Management
Amended Operating Agreement LLC

Amended Operating Agreement LLC Template for Philippines

Create a bespoke document in minutes,  or upload and review your own.

4.6 / 5
4.8 / 5

Let's create your Amended Operating Agreement LLC

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Get your first 2 documents free

Your data doesn't train Genie's AI

You keep IP ownership of your information

Key Requirements PROMPT example:

Amended Operating Agreement LLC

"Need to draft an Amended Operating Agreement LLC to add two new foreign investors and update profit-sharing ratios for our Manila-based technology company, with the changes to take effect from March 1, 2025."

Celebrated by
Collaborations with
Investors
Document background
The Amended Operating Agreement LLC is essential when existing LLC arrangements in the Philippines require modification due to business evolution, change in membership, or strategic restructuring. This document type is particularly relevant when companies need to update their governance structure, adjust capital contributions, modify profit-sharing arrangements, or revise operational procedures. While the Philippines doesn't specifically define LLCs in its corporate law, this agreement adapts LLC concepts within the framework of the Revised Corporation Code, particularly through close corporation provisions. The document must comply with Philippine corporate law while maintaining flexibility for business operations. It's commonly used during business expansion, ownership changes, or when adapting to new market conditions. The Amended Operating Agreement LLC includes crucial updates to management structure, voting rights, transfer restrictions, and dissolution procedures, ensuring all modifications align with both business objectives and legal requirements.
Suggested Sections

1. Parties: Identification of all members of the LLC and any other parties to the agreement

2. Background: Context of the original operating agreement and reasons for amendment

3. Definitions: Definitions of key terms used throughout the agreement, including any new terms introduced by the amendment

4. Amendments to Original Agreement: Clear statement of which provisions are being amended, removed, or added

5. Company Formation and Purpose: Updated information about the LLC's formation, registration details, and business purpose

6. Capital Contributions: Modified provisions regarding member capital contributions, additional capital requirements, and capital accounts

7. Membership Interests: Updated allocation of ownership interests and any changes to voting rights

8. Management Structure: Revised management framework, including manager appointments and responsibilities

9. Meetings and Voting: Updated procedures for member meetings, voting requirements, and decision-making processes

10. Distributions and Allocations: Modified provisions for profit/loss allocation and distribution policies

11. Transfer Restrictions: Updated rules regarding transfer of membership interests, including any right of first refusal

12. Dissolution and Liquidation: Revised procedures for company dissolution and asset distribution

13. General Provisions: Standard clauses including governing law, notices, and amendment procedures

Optional Sections

1. Foreign Ownership Provisions: Required if any members are non-Philippine citizens, addressing foreign ownership restrictions and compliance

2. Intellectual Property Rights: Needed if the LLC owns or manages significant IP assets

3. Competing Business Restrictions: Optional provisions restricting members from engaging in competing businesses

4. Tag-Along and Drag-Along Rights: Include for LLCs with sophisticated investors or complex exit strategies

5. Special Purpose Vehicle Provisions: Required if the LLC is formed for a specific project or venture

6. Banking and Finance Provisions: Include if the LLC has specific banking arrangements or financing requirements

7. Environmental Compliance: Necessary for businesses in industries with environmental impacts

8. Employee Stock Option Plans: Include if the LLC offers ownership interests to employees

Suggested Schedules

1. Schedule A - Members' Information: Updated list of members, their contact information, and membership interests

2. Schedule B - Capital Contributions: Detailed breakdown of initial and additional capital contributions by members

3. Schedule C - Amended Management Structure: Organizational chart and detailed management responsibilities

4. Schedule D - Amended Business Plan: Updated business objectives and operational strategies

5. Schedule E - Asset Register: Current list of company assets and their allocation

6. Appendix 1 - Original Operating Agreement: Copy of the original operating agreement being amended

7. Appendix 2 - Corporate Resolutions: Relevant resolutions authorizing the amendments

8. Appendix 3 - Regulatory Approvals: Copies of any required regulatory approvals for the amendments

Authors

Alex Denne

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

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Agreement
Original Operating Agreement
Amendment Date
Applicable Law
Articles of Organization
Business Day
Capital Account
Capital Contribution
Company
Confidential Information
Default Event
Defaulting Member
Distribution
Effective Date
Encumbrance
Fair Market Value
Fiscal Year
Initial Capital Contribution
Intellectual Property
Loss
Managing Member
Member
Membership Interest
Net Income
Net Loss
Officers
Original Members
Percentage Interest
Permitted Transfer
Person
Profit
Qualified Transfer
Quorum
Registered Office
Related Party
Remaining Members
Reserved Matters
Resolution
SEC
Securities
Special Resolution
Subsidiary
Super Majority
Tax
Territory
Third Party
Transfer
Transferee
Voting Rights
Clauses
Amendment and Restatement
Membership Rights and Obligations
Capital Contributions
Profit and Loss Allocation
Distribution Rights
Management Structure
Voting Rights
Transfer Restrictions
Right of First Refusal
Tag-Along Rights
Drag-Along Rights
Confidentiality
Non-Competition
Intellectual Property
Decision Making
Meeting Procedures
Financial Management
Books and Records
Tax Matters
Dispute Resolution
Termination
Dissolution
Force Majeure
Governing Law
Indemnification
Insurance
Notices
Assignment
Severability
Entire Agreement
Further Assurance
Compliance with Laws
Foreign Ownership
Corporate Authority
Regulatory Compliance
Amendment Procedures
Representations and Warranties
Relevant Industries

Technology

Real Estate

Manufacturing

Retail

Professional Services

Construction

Agriculture

Food and Beverage

Healthcare

Education

Tourism and Hospitality

Import/Export

Consulting

Financial Services

Relevant Teams

Legal

Corporate Governance

Executive Leadership

Finance

Compliance

Risk Management

Corporate Affairs

Business Development

Operations

Administrative

Relevant Roles

Chief Executive Officer

Managing Director

Corporate Secretary

Legal Counsel

Chief Financial Officer

Business Development Manager

Operations Manager

Compliance Officer

Board Member

Company Director

Managing Partner

Corporate Governance Officer

Risk Management Officer

Investment Manager

Shareholder Relations Manager

Industries
Revised Corporation Code of the Philippines (Republic Act No. 11232): The primary law governing corporations in the Philippines, including provisions for close corporations which are similar to LLCs. Particularly relevant are provisions on corporate governance, management structure, and shareholder rights.
Civil Code of the Philippines (Republic Act No. 386): Contains fundamental provisions on contracts, obligations, and partnerships that may be relevant to operating agreements and business relationships.
Foreign Investments Act of 1991 (Republic Act No. 7042): Regulates foreign ownership and investment in Philippine businesses, including restrictions and requirements for foreign participation.
National Internal Revenue Code (NIRC): Contains tax provisions affecting business entities, including income tax, value-added tax, and other fiscal obligations that need to be considered in operating agreements.
Securities Regulation Code (Republic Act No. 8799): Relevant if the LLC interests might be considered securities, particularly in cases of multiple investors or complex ownership structures.
Anti-Money Laundering Act (Republic Act No. 9160): Compliance requirements for business entities regarding money laundering prevention and reporting obligations.
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

Find the exact document you need

Generic Operating Agreement

A Philippine law-governed agreement establishing operational framework and management structure for business operations between multiple parties.

find out more

Sole Member LLC Operating Agreement

A governing document for single-member LLCs in the Philippines that establishes operational rules and member rights under Philippine law.

find out more

Company Bylaws For LLC

A fundamental corporate governance document that establishes internal rules and procedures for Philippine corporations in compliance with the Revised Corporation Code.

find out more

Operating Agreement For Rental Property LLC

A Philippine-law governed agreement establishing the operational framework and management structure for a rental property LLC, including member rights and property management procedures.

find out more

Amended Operating Agreement

A Philippine law-compliant document that modifies an existing operating agreement, updating terms for business operations and member relationships.

find out more

LLC Capital Contribution Agreement

A Philippine-law governed agreement documenting capital contributions to an LLC and the corresponding ownership interests granted to contributing members.

find out more

Standard Operating Agreement

A Philippine law-governed agreement establishing operational procedures and responsibilities between parties conducting business in the Philippines.

find out more

LLC Agreement

A corporate governance agreement under Philippine law establishing the framework for company operations, management structure, and shareholder relationships.

find out more

LLC Business Partnership Agreement

A Philippine law-governed agreement establishing an LLC partnership structure, defining partner relationships and business operations.

find out more

Standard LLC Agreement

A foundational agreement establishing and governing an LLC under Philippine law, defining ownership, management, and operational structure.

find out more

Small Business Operating Agreement

A legal framework document under Philippine law establishing operational guidelines and governance structure for small businesses, including ownership, management, and compliance requirements.

find out more

Operating Agreement For Corporation

A legal document establishing corporate governance and operational procedures for Philippines-based corporations under local corporate law.

find out more

LLC Operating Agreement For Shared Vacation Home

A Philippine-law governed LLC Operating Agreement establishing the framework for shared vacation home ownership and management through an LLC structure.

find out more

LLC Bylaws

A foundational corporate governance document establishing internal rules and procedures for Philippine LLCs, compliant with local corporate laws.

find out more

Limited Liability Agreement

A Philippine law-governed agreement that defines and limits parties' liability obligations while ensuring compliance with local legal requirements.

find out more

Limited Company Agreement

A comprehensive agreement governing the formation and operation of a limited liability company under Philippine law.

find out more

Joint Operation Agreement

A Philippine law-governed agreement establishing terms and conditions for joint business operations between multiple parties, including management, financial, and operational arrangements.

find out more

Joint Operating Agreement

A Philippine law-governed agreement establishing framework for joint business operations between multiple parties, including management structure, financial arrangements, and operational procedures.

find out more

Holding Company Operating Agreement

A Philippine law-governed agreement establishing the operational and governance framework for a holding company, defining shareholder rights and management structures.

find out more

General Partnership Operating Agreement

A Philippine law-governed agreement establishing the terms and conditions for operating a general partnership, including partner rights, responsibilities, and business management structure.

find out more

Amended Operating Agreement LLC

A legal document modifying an existing LLC's operational framework under Philippine law, updating key aspects of company management and member relations.

find out more

50 50 LLC Operating Agreement

A Philippine-law governed operating agreement establishing a 50-50 LLC structure between two equal members, defining their rights, responsibilities, and business operations.

find out more

Custom Operating Agreement

A Philippine law-governed agreement establishing operational framework and management structure for business entities, defining stakeholder rights and responsibilities.

find out more

LLP Operating Agreement

A Philippine law-governed agreement establishing the operational framework and partner relationships for a Limited Liability Partnership (LLP).

find out more

Limited Partnership Operating Agreement

A Philippine law-governed agreement establishing a limited partnership structure, defining partner roles, contributions, and operational framework.

find out more

LLC Ownership Percentage Agreement

A Philippine law-governed agreement defining ownership percentages and rights among LLC members, including voting and profit-sharing arrangements.

find out more

Member Managed Operating Agreement

A Philippine-law governed agreement establishing the structure and management framework for a member-managed LLC, defining member rights, responsibilities, and operational procedures.

find out more

Operating Agreement For Single Member LLC

A legal document establishing governance and operational framework for a single-member business entity in the Philippines, adapted to comply with Philippine corporate law.

find out more

Bylaws Operating Agreement

A foundational corporate governance document outlining operational rules and procedures for Philippines-based corporations, in compliance with local corporate law.

find out more

Sole Proprietorship Operating Agreement

A Philippine law-governed agreement establishing the operational framework and management protocols for a sole proprietorship business.

find out more

Multi Member LLC Operating Agreement

A Philippine law-governed agreement establishing the operational framework and member relationships for a multi-member Limited Liability Company.

find out more

Member Managed LLC Operating Agreement

A Member Managed LLC Operating Agreement adapted for Philippine law, establishing member rights, responsibilities, and business governance structure.

find out more

Manager Managed LLC Operating Agreement

A Philippine law-governed agreement establishing the operational framework and management structure for a manager-managed LLC, defining member and manager rights and responsibilities.

find out more

Joint Venture Operating Agreement

A Philippine law-governed agreement establishing the operational framework for a joint venture between two or more parties, detailing management, financial, and operational arrangements.

find out more

Partnership Operating Agreement

A Philippine law-governed agreement that establishes the terms, conditions, and operational framework for a business partnership, ensuring compliance with local legislation while defining partner relationships and responsibilities.

find out more

Addendum To Operating Agreement

A Philippine law-governed document that amends an existing Operating Agreement to modify specific terms while maintaining the original agreement's framework.

find out more

Download our whitepaper on the future of AI in Legal

By providing your email address you are consenting to our Privacy Notice.
Thank you for downloading our whitepaper. This should arrive in your inbox shortly. In the meantime, why not jump straight to a section that interests you here: https://www.genieai.co/our-research
Oops! Something went wrong while submitting the form.

Genie’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; Genie’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

Our bank-grade security infrastructure undergoes regular external audits

We are ISO27001 certified, so your data is secure

Organizational security

You retain IP ownership of your documents

You have full control over your data and who gets to see it

Innovation in privacy:

Genie partnered with the Computational Privacy Department at Imperial College London

Together, we ran a £1 million research project on privacy and anonymity in legal contracts

Want to know more?

Visit our Trust Centre for more details and real-time security updates.

Read our Privacy Policy.