OPERATING AGREEMENT OF ROCK OHIO VENTURES LLC By and Between ROCK OHIO VENTURES I LLC, ROCK OHIO VENTURES II LLC and LAKES OHIO DEVELOPMENT LLC Dated as of October 29, 2009Operating Agreement • November 4th, 2009 • Lakes Entertainment Inc • Services-miscellaneous amusement & recreation • Ohio
This OPERATING AGREEMENT (this “Agreement”) is entered into and shall be effective as of the 29th of October, 2009, by and among ROCK OHIO VENTURES I LLC, a Delaware limited liability company, ROCK OHIO VENTURES II LLC, a Delaware limited liability company, and LAKES OHIO DEVELOPMENT, LLC, a Minnesota limited liability company, each as Members of ROCK OHIO VENTURES LLC (the “Company”).
Penn Ventures, LLC 103 Foulk Rd, Suite 200 Wilmington, DE 19803Funding Agreement • November 4th, 2009 • Lakes Entertainment Inc • Services-miscellaneous amusement & recreation • Delaware
This funding agreement (the “Funding Agreement”) and those certain indicative terms set forth in Exhibit A hereto (the “Indicative Terms” and together with the Funding Agreement, the “Agreement”) sets forth the initial terms and conditions on which Penn Ventures, LLC (“Penn”) and Lakes Entertainment, Inc. (“LEI” and together with Penn, the “Parties” or the “Members”) shall fund the Initiative (as hereinafter defined) and the potential development and operation of a gaming facility in each of Toledo and Columbus, Ohio (individually and collectively, as appropriate, the “Project). By executing the Funding Agreement, LEI acknowledges and agrees that LEI has received all information and materials necessary to enable LEI to decide whether to enter into the Funding Agreement (“Materials”). LEI further acknowledges that Penn has provided LEI the Materials without any warranty as to accuracy or completeness. Capitalized terms used but not defined herein shall have the meaning ascribed to such
