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efta-efta01140390DOJ Data Set 9OtherASSIGNMENT OF LIMITED LIABILITY COMPANY INTEREST
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DOJ Data Set 9
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efta-efta01140390
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ASSIGNMENT OF LIMITED LIABILITY COMPANY INTEREST
AND AMENDMENT TO
LIMITED LIABILITY COMPANY AGREEMENT
OF
B.R. GUEST PARENT HOLDINGS, LLC
This Assignment of Limited Liability Company Interest and Amendment to
Limited Liability Company Agreement of B.R. GUEST PARENT HOLDINGS, LLC, I. dated
as of
2013 (this "Assignment and Amendment Agreement"), is entered into
by and among SOF U.S. RESTAURANT CO-INVEST HOLDINGS, L.L.C., a Delaware limited
liability company ("Starwood"), SPH FAMILY HOLDINGS, LLC, a Delaware limited liability
company (as suceessor-in-i nterest to Stephen P. Hanson, "Hanson Member"), and SPH FAMILY
HOLDINGS SUB, LLC, a Delaware limited liability company (as successor-in-interest to SPH
Family Holdings LLC, successor-in-interest to SPH Enterprises, Inc. (MJa B.R. Guest. Inc.),
"BR° Member").
WITNESSETH:
WHEREAS, B.R. GUEST PARENT HOLDINGS, LLC. a Delaware limited
liability company (the "Company") has been formed as a limited liability company under the
Delaware Limited Liability Company Act (6 DeI.C. §18-10 I, g na.) (the "Act") pursuant to a
Certificate of Formation of the Company, as filed in the office of the Secretary of State of the
State of Delaware on December 23, 2008, and a Limited Liability Company Agreement of the
Company, dated as of December 30, 2008 (as the same shall have been amended from time to
time, the 'Agreement");
WHEREAS, Stanwood. Hanson Member and BRG Member are the sole members
of the Company:
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EFTA01140390
WHEREAS, each of Hanson Member and BRG Member desires to assign.
transfer and convey $11 of Its limited liability company interest In the Company as a member of
the Companyl (cash an -Interest- and. collectively, the "Interests") to, tanvor$1,,ou4 each of
Hanson Member and BRG Member desires to resign and withdraw from the Company as a
member of the Company; khatI
WHEREAS, the undersigned, being all of the members of the Company, to
accomplish the foregoing. desire to amend the Agreement in the manner set forth herein.
NOW, THEREFORE, the undersigned, in consideration of the premises,
covenants and agreements contained herein, do hereby agree as follows:
I.
A%itriment. Notwithstanding any provision in the Agreement to the contrary. for
value received, the receipt and sufficiency of which arc hereby acknowledged, upon the
execution of this Assignment and Amendment Agreement by the parties hereto, each of Hanson
Member and BRG Member does hereby assign. transfer and convey its Interest to Stanwood.
Each of Hanson Member and BRG Member represents and warrants to Stanwood that it is the
sole legal and beneficial owner of its Interest and it has not heretofore assigned or transferred, or
purported to assign or transfer its Interest or any portion thereof to any person or entity and its
Interest is free and clear of liens, encumbrances and claims of others.
2.
Resignation. Notwithstanding any provision in the Agreement to the contrary,
immediately following the assignment of the Interests pursuant to section I above, each of
Hanson Member and BRG Member shall and does hereby withdraw from the Company as a
member of the Company, and shall thereupon cease to be a member of the Company, cease to
have or exercise any right or power as a member of the Company and cease to be a party to the
Agreement. Without limitation of the forgoing, immediately following the assignment of the
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EFTA01140391
Interests pursuant to section I above, all of the BRG Representatives (as defined in the
Agreement) shall automatically be removed without any further action required of Stanwood or
any other person or entity. Until Starwood shall further amend the Agreement (which the
parties hereto acknowledge it may do in its sole and absolute discretion), all references in the
Agreement to BRG Member and Hanson Member shall be deleted and replaced by the word
Starwood.
3.
Continuation or the Company. The parties hereto agree that the assignment of the
Interests and the resignation and withdrawal of each of Hanson Member and BRG Member as a
member of the Company shall not dissolve the Company and that the business of the Company
shall continue.
4.
Books and Recort. The members of the Company shall take all actions
necessary under the Act and the Agreement, including causing the amendment of the Agreement,
to evidence the resignation of each of Hanson Member and BRG Member from the Company as
a member of the Company.
5.
Future Cooperation. Each of the parties hereto agrees to cooperate at all times
from and after the date hereof with respect to all of the matters described herein, and to execute
such further assignments, amendments or the Agreement, notifications and other documents as
may be reasonably requested for the purpose of giving effect to, or evidencing or giving notice
of, the transactions contemplated by this Assignment and Amendment Agreement
6.
Binding Effect. This Assignment and Amendment Agreement shall be binding
upon, and shall enure to the benefit of, the parties hereto and their respective successors and
assigns.
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7
Execution in Counterpans. This Assignment and Amendment Agreement may be
executed in counterparts and may be delivered by facsimile and by scanned PDF image, each of
which shall be deemed an original, but all of which shall constitute one and the same instrument.
8.
Agreement in Effect. Except as hereby amended, the Agreement shall remain in
full force and effect.
9.
Governing Law This Assignment and Amendment Agreement shall be governed
by, and interpreted in accordance with, the laws of the State of Delaware, all rights and remedies
being governed by such laws.
4
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IN WITNESS WHEREOF. the parties hereto have caused this Assignment and
Amendment Agreement to be duly executed as of the day and year first above written.
SOF U.S. RESTAURANT CO-INVEST
HOLDINGS L.L.C.
By:
Name:
Title:
WITHDRAWING MEMBERS:
SPH FAMILY HOLDINGS, LLC
By:
Name:
Title:
SPH FAMILY HOLDINGS SUB, LLC
By:
Name:
Title:
3
EFTA01140394
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