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HomeMy WebLinkAboutNCG080170_Name-Owner Change Supporting Info_20210920DocuSign Envelope ID: 81351 D514-EOEB-495C-AO7D-39FC962C377F FINAL ASSIGNMENT OF MEMBERSHIP INTERESTS This Assignment of Membership Interests (this "Assignment"), dated as of June 18, 2021 (the "Effective Date"), is entered into by and between Speedway LLC, a Delaware limited liability company ("Assignor"), and Pilot Travel Centers LLC, a Delaware limited liability company ("Assignee"). Each of Assignor and Assignee is sometimes referred to herein as a "Party" and are collectively referred to as the "Parties." RECITALS WHEREAS, the Parties are party to the Amended and Restated Limited Liability Company Agreement, dated as of October 31, 2016 (the "LLC Agreement"), of PFJ Southeast LLC, a Delaware limited liability company (the "Company"), and that certain Membership Interest Purchase Agreement, dated of even date herewith (the "Purchase Agreement"), pursuant to which Assignor has agreed to sell to Assignee, and Assignee has agreed to purchase from Assignor, Assignor's twenty-nine percent (29%) Percentage Interest (as defined in the LLC Agreement) in the Company (such Percentage Interest, the "Membership Interests"); and WHEREAS, Assignor desires to assign to Assignee all right, title and interest in and to the Membership Interests, together with all rights derived therefrom or attributable thereto and otherwise held by Assignor in and as to the Company, except as expressly provided in the Purchase Agreement (collectively, the "Acquired Interests"), and Assignee desires to accept such assignment. NOW, THEREFORE, in consideration of the foregoing, and for such other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows: AGREEMENTS Section 1. Assignment and Assumption. Assignor does hereby irrevocably SELL, ASSIGN, CONVEY, TRANSFER AND DELIVER to Assignee all right, title, and interest in, to, of and under the Acquired Interests, and Assignee hereby accepts such sale and assignment and hereby assumes all obligations arising or accruing from and after the Effective Date with respect to the Acquired Interests. This Assignment is delivered pursuant to, and is hereby made subject to, the terms and conditions of the Purchase Agreement and the Parties acknowledge and agree that the representations, warranties, covenants, agreements and indemnities (and all limitations thereon) contained in the Purchase Agreement shall not be superseded, reduced, expanded or modified hereby but shall remain in full force and effect to the full extent provided therein and in accordance with the terms thereof. In the event of any conflict or inconsistency between the terms of the Purchase Agreement and the terms hereof, the terms of the Purchase Agreement shall govern. DocuSign Envelope ID: 81351 D514-EOEB-495C-AO7D-39FC962C377F Section 2. Miscellaneous. The terms of Section 7.07, Section 7.13 and Section 7.14 of the Purchase Agreement are incorporated herein by reference, mutatis mutandis, and the Parties hereto agree to such terms. This Assignment may be amended, supplemented or modified only by a written instrument duly executed by each of the Parties. Section 3. Counterparts. This Assignment may be executed in counterparts, each of which shall be deemed an original, but all of which together shall be deemed to be one and the same agreement. A signed copy of this Assignment delivered by electronic mail or other means of electronic transmission shall be deemed to have the same legal effect as delivery of an original signed copy of this Assignment. [Signature Pages Follow] DocuSign Envelope ID: 81351 D514-EOEB-495C-AO7D-39FC962C377F IN WITNESS WHEREOF, this Assignment has been duly executed and delivered by a duly authorized person of each Party as of the Effective Date. ASSIGNOR: SPEEDWAY LLC DocuSigned by: By: Fzo-o � T. 044W Name: TimothsyBA9T. Griffith Title: Authorized Representative Signature Page to Assignment of Membership Interests DocuSign Envelope ID: 81351 D514-EOEB-495C-AO7D-39FC962C377F ASSIGNEE: PILOT TRAVEL CENTERS LLC DocuSigned by: By: -1j-AEaE-%19-2-N EA Name: Kevin Wills Title: Authorized Representative Signature Page to Assignment of Membership Interests