Common use of Agreement to be Bound by Operating Agreement Clause in Contracts

Agreement to be Bound by Operating Agreement. As of the Closing, the undersigned shall be admitted to the Company as a Member (as that term is defined in the Operating Agreement) and shall have all the rights and be subject to all the obligations of such Member, as an owner of Units, under the Operating Agreement. The undersigned understands and agrees his, her, or its ownership of Units will be governed by the Operating Agreement and undersigned shall be bound by all the terms and conditions of the Operating Agreement. The undersigned further acknowledges and agrees that, except as otherwise expressly provided in the Operating Agreement, arbitration is the sole and exclusive remedy for the settlement of any dispute or controversy concerning the Operating Agreement or the rights of the parties under the Operating Agreement.

Agreement to be Bound by Operating Agreement. As of the Closing, the undersigned shall be admitted to the Company as a Member (as that term is defined in the Operating Agreement) and shall have all the rights and be subject to all the obligations of such Member, as an owner of Units, under the Operating Agreement. The undersigned understands and agrees that his, her, or its ownership of Units will be governed by the Operating Agreement and undersigned shall be bound by all the terms and conditions of the Operating Agreement. The undersigned further acknowledges and agrees that, except as otherwise expressly provided in the Operating Agreement, arbitration is the sole and exclusive remedy for the settlement of any dispute or controversy concerning the Operating Agreement or the rights of the parties under the Operating Agreement.