Assignment of Membership Interest Agreement between Don H. Barden and Majestic Investor, LLC regarding Barden Nevada Gaming, LLC

Summary

Don H. Barden has sold and transferred his entire ownership interest in Barden Nevada Gaming, LLC to Majestic Investor, LLC. Majestic agrees to take on all rights and obligations of Barden under the company's Operating Agreement. The transfer is effective as of August 18, 2001, and Nevada counsel is authorized to update company records to reflect this change. This agreement formalizes the complete transfer of membership from Barden to Majestic.

EX-10.6 50 c67068ex10-6.txt ASSIGNMENT OF MEMBERSHIP Exhibit 10.6 ASSIGNMENT OF MEMBERSHIP INTEREST Pursuant to Nevada Revised Statutes 86.351, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Don H. Barden ("Barden") hereby sells, assigns and transfers to Majestic Investor, LLC, a Delaware limited liability company ("Majestic"), and Majestic hereby acquires and purchases from Barden, Barden's 100% membership interest (the "Interest") in Barden Nevada Gaming, LLC, a Nevada limited liability company (the "Company"), together with any substitutions, proceeds or reissues thereof. Barden irrevocably appoints and constitutes Nevada counsel to the Company as his attorney-in-fact to transfer the Interest on the books of the Company, with the full power of substitution in the premises. Majestic hereby accepts this assignment and agrees to be bound by the terms and provisions of, and assume the obligations of Barden as a member under, that certain Operating Agreement of the Company, dated as of March 7, 2001. Dated as of the 18th day of August, 2001. "Barden" /s/ Don H. Barden ------------------------------------ Don H. Barden "Majestic" MAJESTIC INVESTOR, LLC, a Delaware limited liability company /s/ Don H. Barden ------------------------------------ Don H. Barden, its Manager /s/ Michael Kelly ------------------------------------ Michael Kelly, its Manager