Common use of Agreement to be Bound by Operating Agreement Clause in Contracts

Agreement to be Bound by Operating Agreement. Investor acknowledges receipt of a copy of the Operating Agreement and by execution hereof agrees to become a party to and be bound by all the terms and conditions of the Operating Agreement as a Member. Issuance. Investor acknowledges that the issuance of 167 Series C Units to Investor in connection herewith satisfies all outstanding obligations of Longeveron to issue Units or Unit Equivalents (both as defined in the Operating Agreement) to Investor.

Agreement to be Bound by Operating Agreement. Investor acknowledges receipt of a copy of the Operating Agreement and by execution hereof agrees to become a party to and be bound by all the terms and conditions of the Operating Agreement as a Member. Issuance. Investor acknowledges that the issuance of 167 20,000 Series C Units being issued to Investor in connection herewith satisfies satisfy all outstanding obligations of Longeveron to issue Units or Unit Equivalents (both Investor as defined in of the Operating Agreement) date hereof; however, future issuances may become issuable to Investor under the terms of that certain License Agreement dated November 20, 2014, by and between Longeveron and Investor.