Depreciation Clause Samples

Depreciation. The Company treats Memorabilia and Collectibles assets as collectible and therefore will not depreciate or amortize the Series #DURANTCHROMEREFRACTORPSA109 going forward. Capitalized terms used but not defined herein have the meanings assigned to such terms in the Limited Liability Company Agreement of Collectable Sports Assets, LLC, as in effect as of the effective date set forth below (the “Agreement”). References to Sections and Articles set forth herein are references to Sections and Articles of the Agreement. Name of Series #GIANNISIMMACULATE, a series of Collectable Sports Assets, LLC, a Delaware limited liability company Date of establishment November 4, 2020 Managing Member CS Asset Manager, LLC, a Delaware limited liability company, is appointed as the Managing Member of #GIANNISIMMACULATE with effect from the effective date hereof and shall continue to act as the Managing Member of #GIANNISIMMACULATE until dissolution of #GIANNISIMMACULATE pursuant to Section 11.1(b) or its removal and replacement pursuant to Section 4.3 or ARTICLE X. Initial Member CS Asset Manager, LLC, a Delaware limited liability company Series Asset The Series Assets of #GIANNISIMMACULATE shall comprise the asset as further described in Schedule 1 attached hereto, which will be acquired by #GIANNISIMMACULATE through that certain Consignment Agreement dated as of October 31, 2020, and any assets and liabilities associated with such asset and such other assets and liabilities acquired by #GIANNISIMMACULATE from time to time, as determined by the Managing Member in its sole discretion. Asset Manager CS Asset Manager, LLC, a Delaware limited liability company. Management Fee As stated in Section 7.1 of the Agreement. Issuance Subject to Section 6.3(a)(i), the maximum number of #GIANNISIMMACULATE Interests the Company can issue may not exceed the purchase price, in the aggregate, of $75,000. Number of #GIANNISIMMACULATE Interests held by the Managing Member and its Affiliates The Managing Member must purchase a minimum of 0.5% and may purchase additional #GIANNISIMMACULATE Interests (including in excess of 10%), in its sole discretion, through the Offering. Broker Dalmore Group, LLC, a New York limited liability company. Brokerage Fee Up to 1.00% of the gross proceeds of the Interests from #GIANNISIMMACULATE sold at the Initial Offering of the #GIANNISIMMACULATE Interests (excluding the #GIANNISIMMACULATE Interests acquired by any Person other than Investor Members). Other rights...