Common use of Business and Purpose of the LLC Clause in Contracts

Business and Purpose of the LLC. (a) Notwithstanding anything to the contrary in this Agreement or the Loan Documents, the sole business purpose of the LLC (the “Business of the LLC”) is solely: (i) to acquire, own, develop, renovate, operate, lease and manage the Property, and perform the obligations of the LLC related thereto; (ii) to mortgage, encumber, pledge, refinance, sell and dispose of the Property to the extent permitted under the Loan Documents; (iii) without limiting the generality of the provisions of the preceding clause (i), to obtain the Loan, to enter into the related Loan Documents and to perform its obligations thereunder.; and (iv) in furtherance of the foregoing business purpose, to exercise all of the powers now or hereafter conferred under the Act that are incidental, necessary or appropriate to accomplish the foregoing, including, without limitation, contracting for necessary or desirable services of attorneys, accountants and other professionals. (b) The LLC is hereby authorized to execute, deliver and perform, and the Managing Member and/or any Officer on behalf of the LLC is hereby authorized to execute and deliver, the Loan Agreement and the Loan Documents with respect thereto, and to perform its obligations thereunder, and any documents executed in connection with the acquisition of the Property and all other documents, agreements, deeds of trust, mortgages, certificates, or financing statements contemplated thereby or related thereto, all without any further act, vote or approval of the Member, any Officer or other Person notwithstanding any other provision of this Agreement, the Act or applicable law, rule or regulation. The foregoing authorization shall not be deemed a restriction on the powers of the Managing Member or any Officer to enter into other agreements on behalf of the LLC.

Business and Purpose of the LLC. (a) Notwithstanding anything to the contrary in this Agreement or the Loan Documents, the sole business purpose of the LLC (the “Business of the LLC”) is solely: (i) to acquire, own, develop, renovate, operate, lease and manage the Property, and perform the obligations of the LLC related thereto;; Porpoise Ventures LLC Amended and Restated Limited Liability Company Agreement (ii) to mortgage, encumber, pledge, refinance, sell and dispose of the Property to the extent permitted under the Loan Documents; (iii) without limiting the generality of the provisions of the preceding clause (i), to obtain the Loan, to enter into the related Loan Documents and to perform its obligations thereunder.; and (iv) in furtherance of the foregoing business purpose, to exercise all of the powers now or hereafter conferred under the Act that are incidental, necessary or appropriate to accomplish the foregoing, including, without limitation, contracting for necessary or desirable services of attorneys, accountants and other professionals. (b) The LLC is hereby authorized to execute, deliver and perform, and the Managing Member and/or any Officer on behalf of the LLC is hereby authorized to execute and deliver, the Loan Agreement and the Loan Documents with respect thereto, and to perform its obligations thereunder, and any documents executed in connection with the acquisition of the Property and all other documents, agreements, deeds of trust, mortgages, certificates, or financing statements contemplated thereby or related thereto, all without any further act, vote or approval of the Member, any Officer or other Person notwithstanding any other provision of this Agreement, the Act or applicable law, rule or regulation. The foregoing authorization shall not be deemed a restriction on the powers of the Managing Member or any Officer to enter into other agreements on behalf of the LLC.

Business and Purpose of the LLC. (a) Notwithstanding anything to the contrary in this Agreement or the Mezzanine Loan Documents, the sole business purpose of the LLC (the “Business of the LLC”) is solely: (i) to acquireserve as a member of Grizzly Ventures LLC, own, develop, renovate, operate, lease and manage to own the Property, and perform the obligations of the LLC related theretothereunder and to execute, deliver and perform the Limited Liability Company Agreement of Grizzly Ventures LLC; (ii) to mortgage, encumber, pledge, refinance, transfer, sell and dispose of the Property to the extent permitted under the Mezzanine Loan Documents; (iii) without limiting the generality of the provisions of the preceding clause (iii), to obtain the Mezzanine Loan, to enter into the related Mezzanine Loan Documents and to perform its obligations thereunder., as well as execute and deliver such documents, instruments and agreements related to the Senior Loan Agreement and the Senior Loan Documents with respect thereto and to perform its obligations thereunder; and (iv) in furtherance of the foregoing business purpose, to exercise all of the powers now or hereafter conferred under the Act that are incidental, necessary or appropriate to accomplish the foregoing, including, without limitation, contracting for necessary or desirable services of attorneys, accountants and other professionals.. 381770 v3/RE 7 (b) The LLC is hereby authorized to execute, deliver and perform, and the Managing Member and/or any Officer on behalf of the LLC is hereby authorized to, obtain the Mezzanine Loan, to execute and deliver, deliver the Loan Agreement and the Mezzanine Loan Documents with respect thereto, as well as to execute and deliver such documents, instruments, and agreements related to the Senior Loan Agreement and the Senior Loan Documents with respect thereto and to perform its obligations thereunder, and any documents executed in connection with the acquisition and/or construction of the Real Property Collateral and all other documents, agreements, deeds of trust, mortgages, certificates, or financing statements contemplated thereby or related thereto, all without any further act, vote or approval of the Member, any Officer or other Person notwithstanding any other provision of this Agreement, the Act or applicable law, rule or regulation. The foregoing authorization shall not be deemed a restriction on the powers of the Managing Member or any Officer to enter into other agreements on behalf of the LLC.

Business and Purpose of the LLC. (a) Notwithstanding anything to the contrary in this Agreement or the Loan Documents, the sole business purpose of the LLC (the “Business of the LLC”) is solely: (i) to acquire, own, develop, renovate, operatemanage, lease lease, and manage operate the Property, and perform the obligations of the LLC related thereto; (ii) to mortgage, encumber, pledge, refinance, sell and dispose of the Property to the extent permitted under the Loan Documents; (iii) without limiting the generality of the provisions of the preceding clause (iii), to obtain the Loan, to enter into the related Loan Documents and to perform its obligations thereunder.; and (iv) in furtherance of the foregoing business purpose, to exercise all of the powers now or hereafter conferred under the Act that are incidental, necessary or appropriate to accomplish the foregoing, including, without limitation, contracting for necessary or desirable services of attorneys, accountants and other professionals. (b) The LLC is hereby authorized to execute, deliver and perform, and the Managing Member and/or any Officer on behalf of the LLC is hereby authorized to execute and deliver, the Loan Agreement and the Loan Documents with respect thereto, thereto and to perform its obligations thereunder, and any documents executed in connection with the acquisition of the Property and all other documents, agreements, deeds of trust, mortgages, certificates, or financing statements contemplated thereby or related thereto, all without any further act, vote or approval of the any Member, any Officer or other Person notwithstanding any other provision of this Agreement, the Act or applicable law, rule or regulation. The foregoing authorization shall not be deemed a restriction on the powers of the Managing Member or any Officer to enter into other agreements on behalf of the LLC.

Business and Purpose of the LLC. (a) Notwithstanding anything to the contrary in this Agreement or the Loan Documents, the sole business purpose of the LLC (the “Business of the LLC”) is solely: (i) to acquire, own, develop, renovate, operate, lease and manage the Property, and perform the obligations of the LLC related thereto; (ii) to mortgage, encumber, pledge, refinance, sell and dispose of the Property to the extent permitted under the Loan Documents; (iii) without limiting the generality of the provisions of the preceding clause (iii), to obtain the Loan, to enter into the related Loan Documents and to perform its obligations thereunder.; andthereunderand (iv) in furtherance of the foregoing business purpose, to exercise all of the powers now or hereafter conferred under the Act that are incidental, necessary or appropriate to accomplish the foregoing, including, without limitation, contracting for necessary or desirable services of attorneys, accountants and other professionals. (b) The LLC is hereby authorized to execute, deliver and perform, and the Managing Member and/or any Officer on behalf of the LLC is hereby authorized to execute and deliver, the Loan Credit Agreement and the Loan Documents with respect thereto, and to perform its obligations thereunder, and any documents executed in connection with the acquisition acquisition, ownership and/or construction of the Property and all other documents, agreements, deeds of trust, mortgages, certificates, or financing statements contemplated thereby or related thereto, all without any further act, vote or approval of the Member, any Officer or other Person notwithstanding any other provision of this Agreement, the Act or applicable law, rule or regulation. The foregoing authorization shall not be deemed a restriction on the powers of the Managing Member or any Officer to enter into other agreements on behalf of the LLC.. 420671 v4/RE 7

Business and Purpose of the LLC. (a) Notwithstanding anything to the contrary in this Agreement or the Loan Documents, the sole business purpose of the LLC (the “Business of the LLC”) is solely: (i) to acquire, own, develop, renovate, operate, lease and manage the Property, and perform the obligations of the LLC related thereto; (ii) to mortgage, encumber, pledge, refinance, sell and dispose of the Property to the extent permitted under the Loan Documents; (iii) without limiting the generality of the provisions of the preceding clause (iii), to obtain the Senior Loan, to enter into the related Senior Loan Documents and to perform its obligations thereunder., as well execute and deliver such documents, instruments and agreements related to the Mezzanine Loan with respect thereto and to perform its obligations thereunder; and (iv) in furtherance of the foregoing business purpose, to exercise all of the powers now or hereafter conferred under the Act that are incidental, necessary or appropriate to accomplish the foregoing, including, without limitation, contracting for necessary or desirable services of attorneys, accountants and other professionals.. 379990 v4/RE 7 (b) The LLC is hereby authorized to execute, deliver and perform, and the Managing Member and/or any Officer on behalf of the LLC is hereby authorized to execute and deliver, the Senior Loan Agreement and the Senior Loan Documents with respect thereto, and to perform its obligations thereunder, as well execute and deliver such documents, instruments and agreements related to the Mezzanine Loan with respect thereto and to perform its obligations thereunder, and any documents executed in connection with the acquisition acquisition, ownership and/or construction of the Property and all other documents, agreements, deeds of trust, mortgages, certificates, or financing statements contemplated thereby or related thereto, all without any further act, vote or approval of the Member, any Officer or other Person notwithstanding any other provision of this Agreement, the Act or applicable law, rule or regulation. The foregoing authorization shall not be deemed a restriction on the powers of the Managing Member or any Officer to enter into other agreements on behalf of the LLC.

Business and Purpose of the LLC. (a) Notwithstanding anything to the contrary in this Agreement or the Loan Documents, the sole business purpose of the LLC (the “Business of the LLC”) is solely: (i) to acquire, own, develop, renovate, operate, lease and manage the Property, and perform the obligations of the LLC related thereto; (ii) to mortgage, encumber, pledge, refinance, sell and dispose of the Property to the extent permitted under the Loan Documents;; Quill Equity LLC Amended and Restated Limited Liability Company Agreement (iii) without limiting the generality of the provisions of the preceding clause (i), to obtain the Loan, to enter into the related Loan Documents and to perform its obligations thereunder.; and (iv) in furtherance of the foregoing business purpose, to exercise all of the powers now or hereafter conferred under the Act that are incidental, necessary or appropriate to accomplish the foregoing, including, without limitation, contracting for necessary or desirable services of attorneys, accountants and other professionals. (b) The LLC is hereby authorized to execute, deliver and perform, and the Managing Member and/or any Officer on behalf of the LLC is hereby authorized to execute and deliver, the Loan Agreement and the Loan Documents with respect thereto, and to perform its obligations thereunder, and any documents executed in connection with the acquisition of the Property and all other documents, agreements, deeds of trust, mortgages, certificates, or financing statements contemplated thereby or related thereto, all without any further act, vote or approval of the Member, any Officer or other Person notwithstanding any other provision of this Agreement, the Act or applicable law, rule or regulation. The foregoing authorization shall not be deemed a restriction on the powers of the Managing Member or any Officer to enter into other agreements on behalf of the LLC.