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DOCUMENT TITLE:  OPERATING AGREEMENT OF STRATOSPHERE DEVELOPMENT LLC .
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Clause Heading
2.1 - Registered Office.
2.2 - Other Offices.
2.3 - Registered Agent.
2.4 - Purpose.
2.5 - Powers of the Company.
3.1 - Initial Capital.
3.2 - Capital Account of a Series.
(a) - Consideration of Code.
(b) - Time of Adjustment.
(c) - Intent to Comply with Treasury Regulations.
3.4 - Separate Records.
4.1 - Profits and Losses.
4.2 - Series Separate.
5.1 - Operating Distributions.
6.1 - Limitation of Liability.
6.2 - Powers of the Member.
6.3 - Election of Officers.
6.4 - Member Approval of Actions by the Officers.
6.5 - Transfer of Interest.
ARTICLE VII - DISSOLUTION OF THE COMPANY AND
7.1 - Dissolution.
7.2 - Resignation.
7.3 - Distribution on Dissolution and Liquidation.
8.1 - Indemnification.
8.2 - Advance Payment of Expenses.
8.3 - Determination of Right to Indemnification.
8.4 - Assets.
9.1 - Insurance.
9.2 - Amendments.
9.3 - Applicable Law; Jurisdiction.
9.4 - Interpretation.
9.5 - Counterparts and Facsimile Copies.
9.6 - Waivers.
9.7 - No Third Party Beneficiaries.