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OPERATING AGREEMENT
OF
ORCUTT TH 30 LLC
THIS OPERATING AGREEMENT, dated as of March __, 2026, by the
undersigned party, who by its execution of this Operating Agreement has become the
sole member of ORCUTT TH 30 LLC, a Virginia limited liability company (the “Company’),
provides as follows:
RECITALS:
The undersigned party has caused the Company to be organized as a limited
liability company under the laws of the Commonwealth of Virginia effective as of the date
hereof, and it wishes to enter into this Operating Agreement to set forth the terms and
conditions on which the management, business and financial affairs of the Company shall
be conducted.
AGREEMENT:
NOW, THEREFORE, in consideration of the foregoing recitals and the mutual
promises, covenants and conditions herein contained, the receipt and sufficiency of which
are hereby acknowledged, the party does hereby covenant and agree as follows:
ARTICLE |
DEFINITIONS
1.01 The following terms used in this Operating Agreement shall have the
following meanings (unless otherwise expressly provided herein):
(a) “Act” shall mean the Virginia Limited Liability Company Act, Va. Code
Ann. § 13.1-1000 et seq., as amended and in force from time to time.
(b) “Articles” shall mean the articles of organization of the Company, as
amended and in force from time to time.
(c) “Authorized Representative” shall have the meaning. set forth in
Section 5.03.
(d) “Capital Account” shall mean as of any given date the amount
calculated and maintained by the Company for the Member as provided in Section 6.04
hereof.
(e) “Capital Contribution” shall mean any contribution to the capital of the
Company by a Member in cash, property or services, or a binding obligation to contribute
cash, property or services, whenever made. “Initial Capital Contribution” shall mean theJump to an indexed page (65 of 65)