THIRD Amended and restated LIMITED LIABILITY COMPANY OPERATING AGREEMENTLimited Liability Company Operating Agreement • March 1st, 2018 • CNL Strategic Capital, LLC • Blank checks • Delaware
THIS THIRD AMENDED AND RESTATED LIMITED LIABILITY COMPANY OPERATING AGREEMENT (this “Agreement”) of CNL STRATEGIC CAPITAL, LLC (the “Company”) is made and entered into as of February 28, 2018 (the “Effective Date”) by CNL STRATEGIC CAPITAL MANAGEMENT, LLC, a Delaware limited liability company (“CSCM”), and Levine Leichtman Strategic Capital, LLC (“LLSC”), together (the “Members”), and any other Persons who are or hereafter become Members in the Company (as defined below) or parties hereto as provided herein. Capitalized terms used in this Agreement without definition shall have the respective meanings specified in Section 2.2 and, unless otherwise specified, article and section references used herein refer to Articles and Sections of this Agreement.
CNL STRATEGIC CAPITAL MANAGEMENT, LLC andSub-Management Agreement • March 1st, 2018 • CNL Strategic Capital, LLC • Blank checks • New York
THIS SECOND AMENDED AND RESTATED SUB-MANAGEMENT AGREEMENT (this “Agreement”), is entered into as of the 28th day of February, 2018, effective as of the date provided for herein, by and among CNL STRATEGIC CAPITAL MANAGEMENT, LLC, a Delaware limited liability company (the “Manager”), LEVINE LEICHTMAN STRATEGIC CAPITAL, LLC, a Delaware limited liability company (the “Sub-Manager”), and CNL Strategic Capital, LLC, a Delaware limited liability company (together with any wholly owned subsidiaries, the “Company”).
SECOND AMENDED AND RESTATED MANAGEMENT AGREEMENTManagement Agreement • March 1st, 2018 • CNL Strategic Capital, LLC • Blank checks • New York
THIS SECOND AMENDED AND RESTATED MANAGEMENT AGREEMENT (the “Agreement”) made as of the 28th day of February, 2018, effective as of the date provided herein, by and between CNL STRATEGIC CAPITAL, LLC, a Delaware limited liability company (the “Company”), and CNL STRATEGIC CAPITAL MANAGEMENT, LLC, a Delaware limited liability company (the “Manager”).
