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The Company’s Operating Agreement (the “Agreement”) provided for a unique governance structure wherein the CEO and President must perform their duties subject to the “advice and consent” of the other.
Additionally, the Agreement permitted (i) Aigner or (ii) Di Falco and Shah together to exercise veto power against any action of the Board.
If there are sufficient assets, the claims and obligations shall be paid in full, and any reasonable provision for payment shall be made in full.
A trust certificate is a bond or debt investment, usually in a public corporation, that is backed by other assets.
Special caution should be taken when investing in trust certificates with an underlying asset that is the same company's stock.
If the company runs into financial trouble, the asset backing the trust certificate can become as worthless as the trust certificate itself.
Financial analysis can help determine if the company in question is, solvent, liquid, and/or profitable enough.
Investment analysts should take time to dig into the company’s income statement, balance sheet and cash flow statement, along with management earnings calls, industry news, and other sources of information.