Form Il-00llc-1 - Llc Operating Agreement Page 14
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2146.
Counterparts. This instrument may be executed in any number of
counterparts each of which shall be considered an original.
47.
Specific Performance. Each Member agrees with the other Members
that the other Members would be irreparably damaged if any of the provisions of this
Agreement are not performed in accordance with their specific terms and that monetary
damages would not provide an adequate remedy in such event. Accordingly, it is agreed that,
in addition to any other remedy to which the nonbreaching Members may be entitled, at law
or in equity, the nonbreaching Members shall be entitled to injunctive relief to prevent
breaches of this Agreement and, specifically, to enforce the terms and provisions of this
Agreement in any action instituted in any court of the United States or any state thereof
having subject matter jurisdiction thereof.
48.
Further Action. Each Member, upon the request of the LLC, agrees to
perform all further acts and to execute, acknowledge and deliver any documents which may
be necessary, appropriate, or desirable to carry out the provisions of this Agreement.
49.
Method of Notices. All written notices required or permitted by this
Agreement shall be hand delivered or sent by registered or certified mail, postage prepaid,
addressed to the LLC at its place of business or to a Member as set forth on the Member's
signature page of this Agreement (except that any Member may from time to time give
notice changing his address for that purpose), and shall be effective when personally
delivered or, if mailed, on the date set forth on the receipt of registered or certified mail.
50.
Facsimiles. For purposes of this Agreement, any copy, facsimile,
telecommunication or other reliable reproduction of a writing, transmission or signature may
be substituted or used in lieu of the original writing, transmission or signature for any and all
purposes for which the original writing, transmission or signature could be used, provided
that such copy, facsimile telecommunication or other reproduction shall have been
confirmed received by the sending Party.
51.
Computation of Time. In computing any period of time under this
Agreement, the day of the act, event or default from which the designated period of time
begins to run shall not be included. The last day of the period so computed shall be
included, unless it is a Saturday, Sunday or legal holiday, in which event the period shall run
until the end of the next day which is not a Saturday, Sunday or legal holiday.
WHEREFORE, the Parties have executed this Agreement on the dates stated below
their signatures on the attached signature page for each individual Party.
NOTICE: EACH MEMBER HEREBY CERTIFIES THAT HE OR SHE HAS RECEIVED
A COPY OF THIS OPERATING AGREEMENT AND FORMATION DOCUMENT OF
__________________________________________________, AN ILLINOIS LIMITED
LIABILITY COMPANY. EACH MEMBER REALIZES THAT AN INVESTMENT IN
THIS COMPANY IS SPECULATIVE AND INVOLVES SUBSTANTIAL RISK. EACH
MEMBER IS AWARE AND CONSENTS TO THE FACT THAT THE INTERESTS IN
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