HOUSE_OVERSIGHT_024558.jpg
2.88 MB
Extraction Summary
4
People
5
Organizations
0
Locations
1
Events
3
Relationships
2
Quotes
Document Information
Type:
Legal agreement / partnership agreement (page 125)
File Size:
2.88 MB
Summary
This document is page 125 of a legal agreement (likely a partnership agreement) outlining investment restrictions and transferability rules for an entity named KUE (likely Knowledge Universe Education). It mandates that KUE be the exclusive vehicle for the 'Principals' to invest in pre-K through 12th-grade education companies, with specific exceptions for LeapFrog Enterprises, Nobel Learning Communities, and K12 Inc. It also details strict restrictions on the transfer of investor units, requiring General Partner approval.
People (4)
| Name | Role | Context |
|---|---|---|
| The Principals | Restricted Party |
Agreed to use KUE as exclusive vehicle for education investments; subject to restrictions on acquiring equity.
|
| General Partner | Management/Authority |
Has authority to approve transfers of units and offer co-investment opportunities.
|
| Investors | Participants |
Hold Common LP Units and Class A Shares; have co-investment rights.
|
| Independent Committee | Oversight Body |
Must approve investment opportunities declined by KUE or co-investments by Principals.
|
Organizations (5)
| Name | Type | Context |
|---|---|---|
| KUE |
The exclusive investment vehicle for pre-K through 12th grade education companies (Likely Knowledge Universe Education).
|
|
| LeapFrog Enterprises, Inc. |
Exempt company where Principals already own 15%+ stock.
|
|
| Nobel Learning Communities, Inc. |
Exempt company where Principals already own 15%+ stock.
|
|
| K12 Inc. |
Company mentioned regarding specific exemptions for securities, warrants, and options.
|
|
| House Oversight Committee |
Source of the document (indicated by Bates stamp).
|
Relationships (3)
KUE is the exclusive vehicle for Principals' education investments.
Principals own 15% or more of voting stock.
Principals own 15% or more of voting stock.
Key Quotes (2)
"The Principals will agree... that KUE will be their exclusive vehicle for equity investment opportunities in and acquisitions of for-profit companies engaged primarily in the business of pre-K through 12th grade education..."Source
HOUSE_OVERSIGHT_024558.jpg
Quote #1
"Units held by an Investor may not be sold, transferred or assigned without the prior written consent of the General Partner, not to be unreasonably withheld."Source
HOUSE_OVERSIGHT_024558.jpg
Quote #2
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