OPERATING AGREEMENT FOR ADESA NEVADA, LLC Effective as of August 18, 2010Operating Agreement • February 24th, 2011 • Insurance Auto Auctions Tennessee LLC • Retail-auto dealers & gasoline stations • Indiana
THIS OPERATING AGREEMENT (this “Agreement”) is made and entered into as of this 18th day of August, 2010 (the “Effective Date”), by and between ADESA Nevada, LLC, a Nevada limited liability company (the “Company”), and ADESA, Inc. (the “Member”), as the sole initial member of the Company. The Company was organized as a limited liability company under Nevada Revised Statutes, Chapter 86 - Limited-Liability Companies (“NRS Chapter 86”). Certain defined terms used in this Agreement are set forth in Schedule I (Schedule of Definitions) attached hereto and made a part hereof. In consideration of the mutual covenants and agreements contained in this Agreement and other good and valuable consideration, and intending to be legally bound hereby, the undersigned parties hereby agree as follows:
Limited Liability Company Agreement of Insurance Auto Auctions Tennessee LLC a Tennessee limited liability companyOperating Agreement • February 24th, 2011 • Insurance Auto Auctions Tennessee LLC • Retail-auto dealers & gasoline stations • Tennessee
THIS OPERATING AGREEMENT of Insurance Auto Auctions Tennessee LLC (the “LLC”) is made by Insurance Auto Auctions, Inc., an Illinois corporation, as of February 12, 2010 (the “Effective Date”). Unless otherwise indicated, capitalized words and phrases in this Operating Agreement (the “Agreement”) shall have the meanings set forth in the Glossary of Terms attached hereto as Exhibit A.
