Common use of Seed Capital Network Program Clause in Contracts

Seed Capital Network Program. With its Seed Capital Network Program (the "SCNP"), WSCN may invest in funds to support investment in qualifying small businesses. An investment may be in the form of an interest purchased in a fund, such as a limited partner interest or an LLC member interest. A commitment to a fund may be pari passu, preferred or subordinate to other investors. WSCN may also invest directly in qualifying small businesses. An investment may be in the form of a debt or equity or royalty interest purchased in a company or an intermediary that invests in a company. A commitment will typically be in participation with other investors and may be pari passu, preferred or subordinate to such investors. WSCN may adopt rules to guide the SCNP. The Managers shall report these rules and any changes in the rules to the Council, as defined further herein.