OPERATING AGREEMENT OF DUKE FACULTY CLUB LLCOperating Agreement • June 28th, 2024 • North Carolina
THIS OPERATING AGREEMENT (this “Agreement”) of Duke Faculty Club LLC (the “Company”) is executed by and among the Company, Duke University, a North Carolina nonprofit corporation (“Duke”), which is executing this Agreement as the sole Member (as defined below), and the Faculty Club of Duke University, Incorporated, a North Carolina nonprofit corporation (“DFC”). This Agreement is executed pursuant to that certain Integration Agreement of even date herewith (the “Integration Agreement”). The Company, Duke and DFC may each be referred in this Agreement to as a “Party” and, collectively, as the “Parties”.