Entity To-Be-Formed Clause Samples

Entity To-Be-Formed. The Parties acknowledge and agree that PEAK CONCEPTS LLC is acting herein on behalf of and as a placeholder for an investment entity yet to be formed, and that this Agreement is entered into at this time in order to move the project forward even though such investment entity has not yet been legally formed. It is anticipated that such entity will be organized under the laws of Indiana and will take the form of either a General or Limited Partnership or a Limited Liability Company, and that PEAK CONCEPTS LLC may serve as Manager thereof, all depending upon the advice of PEAK’s tax and legal advisors. Except as may be otherwise expressly provided herein, all references herein to PEAK shall be deemed to mean and refer to such entity to-be-formed, all rights accruing to PEAK hereunder shall be deemed to inure to the benefit of such entity to-be-formed, and all obligations of PEAK provided for hereunder and shall be assumed by and be binding upon such entity to-be-formed and not upon PEAK CONCEPTS LLC who shall have no obligations hereunder other than to cause said entity to be formed for the purposes expressed herein.