Depreciation Clause Examples

Depreciation. The Company treats Memorabilia and Collectibles assets as collectible and therefore will not depreciate or amortize the SERIES #Clemente1955PSA8 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 #AARON1954PSA8, a series of Collectable Sports Assets, LLC, a Delaware limited liability company Date of establishment January 26, 2021 Managing Member CS Asset Manager, LLC, a Delaware limited liability company, is appointed as the Managing Member of #AARON1954PSA8 with effect from the effective date hereof and shall continue to act as the Managing Member of #AARON1954PSA8 until dissolution of #AARON1954PSA8 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 #AARON1954PSA8 shall comprise the asset as further described in Schedule 1 attached hereto, which will be acquired by #AARON1954PSA8 through that certain Consignment Agreement dated as of January 26, 2021, as it may be amended from time to time, and any assets and liabilities associated with such asset and such other assets and liabilities acquired by #AARON1954PSA8 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 #AARON1954PSA8 Interests the Company can issue may not exceed the purchase price, in the aggregate, of $75,000. Number of #AARON1954PSA8 Interests held by the Managing Member and its Affiliates The Managing Member must purchase a minimum of 0.5% and may purchase additional #AARON1954PSA8 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 #AARON1954PSA8 sold at the Initial Offering of the #AARON1954PSA8 Interests (excluding the #AARON1954PSA8 Interests acquired by any Person other than Investor Members). Other rights Holders of #AARON1954P...