Common use of Formation, etc Clause in Contracts

Formation, etc. The Company was formed as a limited liability company pursuant to the Act by the filing of the Articles of Organization - Conversion with the Secretary of State of the State of California on August 12, 2005. The rights, duties and liabilities of the Member and the Board of Managers shall be determined pursuant to the Act and this Agreement. To the extent that such rights, duties or obligations are different by reason of any provision of this Agreement than they would be in the absence of such provision, this Agreement shall, to the extent permitted by the Act, control. By execution hereof, the Member is admitted as a member of the Company and shall acquire a limited liability interest in the Company.

Formation, etc. The Company was formed as a limited liability company pursuant to the Act by the filing of the Articles of Organization - Conversion with the Secretary of State of the State of California on August 12December 29, 20052006. The rights, duties and liabilities of the Member and the Board of Managers shall be determined pursuant to the Act and this Agreement. To the extent that such rights, duties or obligations are different by reason of any provision of this Agreement than they would be in the absence of such provision, this Agreement shall, to the extent permitted by the Act, control. By execution hereof, the Member is admitted as a member of the Company and shall acquire a limited liability interest in the Company.