FIRST AMENDMENT TO THE JOINT OPERATION AND ACCOUNTING PROCEDURES AGREEMENT
EXHIBIT 3
FIRST AMENDMENT
TO THE
JOINT OPERATION AND ACCOUNTING PROCEDURES AGREEMENT
THIS AMENDMENT (this “Amendment”) to the Joint Operation and Accounting Procedures Agreement by and among Xxxxxxxx Xxxx III (“Xxxx”), Paragon Associates, Ltd. (“Paragon”) and Paragon Associates II, Ltd. (“Paragon II”) dated as of January 1, 1984 (the “JV Agreement”), is entered into as of this 1st day of January, 2015 by and among Xxxx, Paragon, Paragon II and Paragon Associates III, Ltd. (“Paragon III”). Capitalized terms used herein without definition shall bear the meaning ascribed to them in the JV Agreement.
Section 1. Addition of Paragon III. Paragon III is hereby admitted as a party to the JV Agreement, as modified by this Amendment, and all references in the JV Agreement to “Paragon II” shall include Paragon III where the context requires, without duplication.
Section 2. General Partner. All references in the JV Agreement to Xxxx serving as the general partner of each of Paragon, Paragon II and Paragon III shall be amended to state that “Paragon JV Partners, LLC” serves as the general partner of each of Paragon, Paragon II and Paragon III.
Section 3. Address. The address of each of Xxxx, Paragon, Paragon II and Paragon III shall be 000 Xxxxxxxx Xxxxx, Xxxxx 000, Xxxxxx, Xxxxx 00000.
Section 4. Agreement Otherwise Unaffected. Except as specifically amended by this Amendment, the JV Agreement (as hereby amended) shall continue in full force and effect in accordance with its terms.
[Signature Page Follows]
IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the day and year first-above written.
| PARAGON ASSOCIATES, LTD. | ||
| By: | Paragon JV Partners, LLC, its general partner | |
| By: | /s/ XXXXXXXX XXXX III | |
| Xxxxxxxx Xxxx III Manager | ||
| PARAGON ASSOCIATES II, LTD. | ||
| By: | Paragon JV Partners, LLC, its general partner | |
| By: | /s/ XXXXXXXX XXXX III | |
| Xxxxxxxx Xxxx III Manager | ||
| PARAGON ASSOCIATES III, LTD. | ||
| By: | Paragon JV Partners, LLC, its general partner | |
| By: | /s/ XXXXXXXX XXXX III | |
| Xxxxxxxx Xxxx III Manager | ||
| /s/ XXXXXXXX XXXX III | ||
