DELEGATION AGREEMENT OF INTERNATIONAL SECURITIES 3, LLC
EXHIBIT 99.A
DELEGATION AGREEMENT OF INTERNATIONAL SECURITIES 3, LLC
This Delegation Agreement (hereinafter referred to as the “Agreement”) is made on this third day of June, 2004, by and between INTERNATIONAL SECURITIES 2, LLC, a Nevis limited liability company, party of the first part (hereinafter known as “INTL 2”) and INTERNATIONAL SECURITIES 3, LLC, a Delaware limited liability company, party of the second part (hereinafter known as “INTL 3”).
W I T N E S S E T H:
WHEREAS, on June 1, 2004, INTL 2 as sole Member of INTL 3 entered into a new Operating Agreement, appointing XXXXXX X. XXXXX, Manager of INTL 3; and
WHEREAS, the sale Member and Manager of INTL 3 have agreed upon the delegation of all powers vested in the Manager by that certain Operating Agreement, entitled “Operating Agreement of International Securities 3, LLC, dated June 1, 2004, as hereinafter enumerated and qualified, to and in favor of XXXXXXX X. XXXXXXX and XXXXXX X. XXXXXXX.
NOW, THEREFORE, THIS DELEGATION AGREEMENT witnesses that, in consideration of their mutual promises, covenants and agreements, each to the other made, the receipt and sufficiency of which is herewith acknowledged, the parties hereby do agree as follows:
That XXXXXXX X. XXXXXXX and XXXXXX X. XXXXXXX are hereby vested with the same management powers issued to the Manager under the Operating Agreement of INTL 3.
XXXXXXX X. XXXXXXX and XXXXXX X. XXXXXXX hereby consent to the delegation of authority described in this agreement and all terms and conditions relating to such delegation.
IN WITNESS WHEREOF, the parties hereto set their hands and seals on the third day of June, 2004, intending that this Delegation Agreement become effective after execution by all of the parties hereto.
SOLE MEMBER:
INTERNATIONAL SECURITIES 2, LLC, a Nevis
limited liability company, by and through its Manager,
ST. XXXXX MANAGEMENT COMPANY, LTD.
By: |
/s/ Xxxx Xxxx |
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Print Name: Xxxx Xxxx |
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Title: Director |
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INTERNATIONAL SECURITIES 3, LLC, a Delaware
limited liability company
By: |
/s/ Xxxxxx X. Xxxxx |
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XXXXXX X. XXXXX, Manager |
ACCEPTANCE OF DELEGATION AUTHORITY:
/s/ Xxxxxxx X. Xxxxxxx |
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XXXXXXX X. XXXXXXX, Authorized Signatory |
/s/ Xxxxxx X. Xxxxxxx |
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XXXXXX X. XXXXXXX, Authorized Signatory |
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