EXHIBIT 3.57
LIMITED LIABILITY COMPANY OPERATING
AGREEMENT
OF
FRANCHISE ASSOCIATES, LLC
LIMITED
LIABILITY COMPANY OPERATING AGREEMENT (the “Agreement”)
of FRANCHISE ASSOCIATES, LLC, entered into as of December 30, 2007,
by RTM, Inc., a Georgia corporation, as the sole member of the
limited liability company (the “Member”).
The
Member formed a limited liability company pursuant to and in
accordance with Chapter 322B.115 of the Minnesota Limited Liability
Company Act (the “Act”) and hereby agrees to the
following:
1.
Name . The name of the limited liability company formed
hereby is Franchise Associates, LLC (the
“Company”).
2.
Purpose . The Company is formed for the object and purpose
of, and the nature of the business to be conducted and promoted by
the Company is, engaging in any lawful act or activity for which
limited liability companies may be formed under the Act and
engaging in any and all activities necessary or incidental to the
foregoing.
3.
Registered Office . The address of the registered office of
the Company in the State of Georgia is 1155 Perimeter Center West,
Suite 1200, Atlanta, GA 30338.
4.
Powers of the Company .
(a)
The Company shall have the power and authority to take any and all
actions necessary, appropriate, advisable, convenient or incidental
to or for the furtherance of the purpose set forth in Section 2,
including, but not limited to, the power:
(A)
to conduct its business, carry on its operations and have and
exercise the powers granted to a limited liability company by the
Act in any state, territory, district or possession of the United
States or in any foreign country that may be necessary, convenient
or incidental to the accomplishment of the purpose of the
Company;
(B)
to acquire, by purchase, lease, contribution of property or
otherwise, and to own, hold, operate, maintain, finance, improve,
lease, sell, convey, mortgage, transfer, demolish or dispose of any
real or personal property that may be necessary, convenient or
incidental to the accomplishment of the purpose of the
Company;
(C)
to enter into, perform and carry out contracts of any kind,
including, without limitation, contracts with the Member, any
Manager (as
hereinafter defined) or any
person or other entity that directly or indirectly controls, is
controlled by, or is under common control with the Member (any such
person or entity, an “Affiliate”), or any agent of the
Company necessary to, in connection with, convenient to, or
incidental to, the accomplishment of the purpose of the Company.
For purposes of the definition of Affiliate, the term
“control” means possession, directly or indirectly, of
the power to direct or cause the direction of the management and
policies of an entity, whether through ownership of voting
securities or otherwise;
(D)
to purchase, take, receive, subscribe for or otherwise acquire,
own, hold, vote, use, employ, sell, mortgage, lend, pledge, or
otherwise dispose of, and otherwise use and deal in and with,
shares or other interests in or obligations of domestic or foreign
corporations, associations, general or limited partnerships
(including, without limitation, the power to be admitted as a
partner thereof and to exercise the rights and perform the duties
created thereby), trusts, limited liability companies (including,
without limitation, the power to be admitted as a member or
appointed as a manager thereof and to exercise the rights and
perform the duties created thereby), and other entities or
individuals, or direct or indirect obligations of the United States
or any foreign country or of any government, state, territory,
governmental district or municipality or of any instrumentality of
any of them;
(E)
to lend money for any proper purpose, to invest and reinvest its
funds, and to take and hold real and personal property for the
payment of funds so loaned or invested;
(F)
to sue and be sued, complain and defend and participate in
administrative or other proceedings, in its name;
(G)
to appoint employees and agents of the Company, and define their
duties and fix their compensation;
(H)
to indemnify any person or entity and to obtain any and all types
of insurance;
(I)
to cease its activities and cancel its insurance;
(J)
to negotiate, enter into, renegotiate, extend, renew, terminate,
modify, amend, waive, execute, acknowledge or take any other action
with respect to any lease, contract or security agreement in
respect of any assets of the Company;
(K)
to borrow money and issue evidences of indebtedness, and to secure
the same by a mortgage, pledge or other lien on any or all of the
assets of the Company;
(L)
to guarantee indebtedness, including indebtedness of subsidiaries
of the Company;
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(M)
to pay, collect, compromise, litigate, arbitrate or otherwise
adjust or settle any and all other claims or demands of or against
the Company or to hold such proceeds against the payment of
contingent liabilities; and
(N)
to make, execute, acknowledge and file any and all documents or
instruments necessary, convenient or incidental to the
accomplishment of the purpose of the Company.
(b)
The Company may merge with, or consolidate into, another Minnesota
limited liability company or other business entity upon the written
consent of the Member, in its sole discretion.
5.
Member . The name and the business, residence or mailing
address of the Member is as follows:
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Name:
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Address:
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RTM, Inc.
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1155 Perimeter Center West
Atlanta, GA 30338
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6.
Powers of Member . The Member shall have the power to
exercise any and all rights and powers granted to the Member
pursuant to the express terms of this Agreement. Except as
otherwise specifically provided by this Agreement or required by
the Act, the Board of Managers (as hereinafter defined) shall have
the power to act for and on behalf of, and to bind, the Company.
Each of Nils H. Okeson, Robert Q. Jones, Jr., and Tracey C. Fraser
is hereby designated as an authorized person with the power and
authority to execute, deliver and file the certificate of formation
of the Company and any amendments and/or restatements thereof (the
“Certificate of Formation”) and any other certificates
(and any amendments and/or restatements thereof) necessary for the
Company to qualify to do business in a jurisdiction in which the
Company may wish to conduct business.
7.
Management .
(a)
General Powers . The business and affairs of the Company
shall be managed by or under the direction of a board of managers
(the “Board of Managers”), which may exercise all such
powers of the Company and perform all such lawful acts and things
as are not by the Act, the Certificate or Articles of Formation or
this Agreement directed or required to be exercised or performed by
the Member.
(b)
Number and Term of Office . The number of managers on the
Board of Managers (each, a “Manager”) shall be four or
such other number as shall be fixed from time to time by the
Member. Managers need not be Members. Managers shall be elected by
written consent of the Member and each Manager shall hold office
until his or her successor is elected and qualified or until his or
her earlier death or resignation or removal in the manner
hereinafter provided. The initial Managers of the Company shall be
as follows:
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Stephen E. Hare
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Nils H. Okeson
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Roland C. Smith
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(c)
Resignation . Any Manager may resign at any time by written
notice to the Board of Managers. Such resignation shall take effect
at the time specified in such notice or, if the time be not
specified, upon receipt thereof by the Board of Managers. Unless
otherwise specified therein, acceptance of such resignation shall
not be necessary to make it effective.
(d)
Removal . Any or all of the Managers may be removed, with or
without cause, at any time by written consent of the
Member.
(e)
Vacancies . Vacancies occurring on the Board of Managers as
a result of the removal of Managers without cause may be filled
only by written consent of the Member. Vacancies occurring on the
Board of Managers for any other reason, including, without
limitation, vacancies occurring as a result of the creation of new
manager positions that increase the number of Managers, may be
filled by such vote or written consent of the Board of Managers or
by written consent of the Member. If the number of Managers then in
office is less than a quorum, such other vacancies may be filled by
vote of a majority of the Managers then in office or by written
consent of the Board of Managers or the Member. Unless earlier
removed pursuant to Section 7(d) hereof, each Manager chosen in
accordance with this Section 7(e) shall hold office until the next
annual election of Managers by the Member and until his or her
successor shall be elected and qualified.
(f)
Meetings .
(i)
Times and Places of Meetings . The Board of Managers may
hold meetings, both regular and special, either within or without
the State of Minnesota. The times and places for holding meetings
of the Board of Managers may be fixed from time to time by
resolution of the Board of Managers or (unless contrary to a
resolution of the Board of Managers) in the notice of the
meeting.
(ii)
Annual Meetings . As soon as practicable after each annual
election of Managers by the Member, the Board of Managers shall
hold its annual meeting, without notice of such meeting, for the
purposes of organization, the election of officers and the
transaction of other business. The annual meeting of the Board of
Managers may be held at any other time and place specified in a
notice given as provided in Section 7(f)(iv) hereof for
spe