Each of the royalty owners who signs this instrument agrees to become a party to and be bound by the provisions of the Unit Agreement as if the original of that Agreement had been signed; and, each of the working interest owners who signs this instrument agrees to become a party to and be bound by the provisions of the Unit Agreement and the Unit Operating Agreement.
California Joinder to Unit Operating Agreement and / or Unit Agreement
State:
Multi-State
Control #:
US-OG-731
Format:
Word;
Rich Text
Instant download
Description
Free preview
How to fill out Joinder To Unit Operating Agreement And / Or Unit Agreement?
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FAQ
A joinder is intended to be a simple document whose sole effect is to add an additional person or entity as a party to the original agreement and bind them to the terms of that agreement in their entirety.
An exhibit to many limited liability company operating agreements, a joinder agreement is the document pursuant to which an outside third party transferee is admitted as a member (a member is an owner) and becomes a party to, and bound by, the terms of that operating agreement.
A joinder agreement can be a standalone document or included as an exhibit to the LLC's operating agreement. Using this type of agreement, a new member can be admitted as part of the LLC operating agreement and will be bound to its terms.