Overview:
The migration process depends on which type of Assure product you used for your SPV, and who are the controlling parties, e.g. the manager of your SPV.
Vauban has partnered with Assure to ensure the migration process is as easy as possible for all parties involved and has a signature mechanism in place whereby Vauban is permissioned to append Assure's signatures to the migration documents as necessary post-year-end.
What this means is that you don't need to worry about executing any documents with Assure and we will handle that entirely for you.
You will only need to execute the documents on Vauban, which can now be done in 2023.
Assure Labs Process:
Vauban will divide your Series LLC from the Assure Master LLC, and then merge it with a newly formed Vauban Master LLC. We create a new Vauban Master for each Assure Master, as below:
Vauban will file a plan of division (signed by Assure) listing all the SPVs that are dividing from the Assure Master and the name of the new Vauban Master the SPVs are merging to.
Concurrently Vauban will file a certificate of formation for the new Vauban Master, which your SPV will now be under.
You will sign a Manager Appointment Letter to appoint Vauban as the manager, and an Amendment to the Series LLC Agreement to fully complete the process.
Assure Standard/Venture Process
Where Assure is the manager of your Master Series:
Assure resigns as manager of your Master LLC and appoints Vauban.
You will sign a Manager Appointment Letter to appoint Vauban as the Manager, and an Amendment to the Series LLC Agreement to fully complete the process.
Where you are the manager
You will sign a Manager Appointment Letter to appoint Vauban as the Administrative Manager, and an Amendment to the Series LLC Agreement.