Common use of Company Formation; Effective Date Clause in Contracts

Company Formation; Effective Date. The Company shall be upon the filing of the Articles of Organization with the Secretary of State of North Carolina in accordance with the provisions of the Act. Upon the Effective Date of this Agreement, the Persons listed on the attached Information Exhibit shall be admitted to the Company as Members and the Persons who executed the Articles shall be withdrawn as Members (unless they are listed on the Information Exhibit), all without the necessity of any further act or instrument and without causing the dissolution of the Company. DTO Management shall execute or cause to be executed all other such certificates or documents, and shall do or cause to be done all such filing, recording, or other acts, as may be necessary or appropriate from time to time to comply with the requirements of law for the continuation and/or operation of a limited liability company in the State of North Carolina, and other documents to reflect the admission of additional Members to the Company. Any costs incurred by DTO Management in connection with the foregoing shall be reimbursed promptly upon the completion of such action. The Agreement shall be effective as of the date (the "Effective Date") the Company was formed.

Company Formation; Effective Date. The Company shall be was formed upon the filing of the Articles of Organization with the Secretary of State of North Carolina in accordance with the provisions of the Act. Upon the Effective Date effectiveness of this Agreement, the Persons listed on the attached Information Exhibit shall be admitted to the Company as Members and the Persons who executed the Articles shall be withdrawn as Members (unless they are listed on the Information Exhibit), all without the necessity of any further act or instrument and without causing the dissolution of the Company. DTO Management HHBF shall execute or cause to be executed all other such certificates or documents, and shall do or cause to be done all such filing, recording, or other acts, as may be necessary or appropriate from time to time to comply with the requirements of law for the continuation and/or operation of a limited liability company in the State of North Carolina, and other documents to reflect the admission of additional Members to the Company. Any costs incurred by DTO Management HHBF in connection with the foregoing shall be reimbursed promptly upon the completion of such action. The Agreement shall be effective as of the date (the "Effective Date") the Company was formed.

Company Formation; Effective Date. The Company shall be was formed upon the filing of the Articles of Organization with the Secretary of State of North Carolina in accordance with the provisions of the Act. Upon the Effective Date of this Agreement, the Persons listed on the attached Information Exhibit shall be original Members were admitted to the Company as Members and the Persons who executed the Articles shall be withdrawn as Members (unless they are listed on the Information Exhibit), all without the necessity of any further act or instrument and without causing the dissolution of the Company. DTO Management shall execute or cause to be executed all other such certificates or documents, and shall do or cause to be done all such filing, recording, or other acts, as may be necessary or appropriate from time to time to comply with the requirements of law for the continuation and/or operation of a limited liability company in the State of North Carolina, and other documents to reflect the admission of additional Members to the Company. Any costs incurred by DTO Management in connection with the foregoing shall be reimbursed promptly upon the completion of such action. The Agreement shall be was effective as of the date (the "Effective Date") the Company was formed.