Common use of By Assignee Clause in Contracts

By Assignee. The Assignee covenants, warrants, and represents to the Company and the Manager in the Company: (a) that the Membership Interest is being acquired for investment for the Assignee’s own account and not with a view to offering it for sale or otherwise to distributing it, after or in connection with such assignment to it, (b) that the Assignee has read the Operating Agreement and agrees to be bound by the Operating Agreement, including, but not limited to, the appointment of the Manager as the attorney-in-fact for the Members, (c) Assignee understands that the Company is a new business venture which offers no guarantee of success; (d) Assignee understands that the consideration paid for this Assignment of Membership Interest was based on a projection of potential costs; and (e) Assignee is relying on its own business expertise and research in deciding to acquire the Membership Interest.

By Assignee. The Assignee covenants, warrants, and represents to the Company and the Manager in the Company: (a) that the Membership Interest Right is being acquired for investment for the Assignee’s own account and not with a view to offering it for sale or otherwise to distributing it, after or in connection with such assignment to it, (b) that the Assignee has read the Operating Agreement and agrees to be bound by the Operating Agreement, including, but not limited to, the appointment of the Manager as the attorney-in-fact for the Members, (c) Assignee understands that the Company is a new business venture which offers no guarantee of success; (d) Assignee understands that the consideration paid for this Assignment of Membership Interest was based on a projection of potential costs; and (e) Assignee is relying on its own business expertise and research in deciding to acquire the Membership Interest.