Common use of Binding on Assignees Clause in Contracts

Binding on Assignees. 24 FOURTH AMENDED OPERATING AGREEMENT OF YOSEMITE MORTGAGE FUND II, LLC A California Limited Liability Company THIS FOURTH AMENDED OPERATING AGREEMENT ("Agreement") was made and entered into as of the 31st day of January, 2003, by and among MFP Management LLC, a California limited liability company (the "Manager"), and Pontes Financial Group, Ltd., a California corporation, in its capacit▇ ▇▇ ▇he initial member of the Company (the "Initial Member"), collectively with all other Persons who may become members of the Company from time to time in accordance herewith (the "Members"), and Yosemite Mortgage Fund II, LLC, a California limited liability company (the "Company").

Binding on Assignees. 24 FOURTH THIRD AMENDED OPERATING AGREEMENT OF YOSEMITE MORTGAGE FUND II, LLC A California Limited Liability Company THIS FOURTH THIRD AMENDED OPERATING AGREEMENT ("AgreementAGREEMENT") was made and entered into as of the 31st 2nd day of JanuaryDecember, 20032002, by and among MFP Management LLC, a California limited liability company (the "ManagerMANAGER"), and Pontes P▇▇▇▇▇ Financial Group, Ltd., a California corporation, in its capacit▇ ▇▇ ▇he capacity as the initial member of the Company (the "Initial MemberINITIAL MEMBER"), collectively with all other Persons who may become members of the Company from time to time in accordance herewith (the "MembersMEMBERS"), and Yosemite Mortgage Fund II, LLC, a California limited liability company (the "CompanyCOMPANY").