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INVESTMENT
Role of DCED
DCED will be retained pursuant to an advisory agreement to be entered into by the General Partner on behalf of each limited partnership to provide certain advisory and administrative services, as follows:
- identifying proposed qualifying investments
- completing due diligence investigations with respect to proposed qualifying investments
- providing accounting and reporting services in connection with qualifying investments made
- monitoring qualifying investments for job creation and other compliance requirements under the Program
- assisting qualifying businesses in obtaining future financing
The advisory agreement will be included in the offering materials for the relevant limited partnership and will set out the fees and other compensation chargeable by DCED for its services under the advisory agreement.
Role of CanAm
The day-to-day management of each limited partnership will be conducted by the General Partner. The duties of the General Partner, to be set out more fully in the limited partnership agreement, which is included in the offering materials for the relevant limited partnership, include:
- recommending qualifying investments to limited partners
- determining that proposed qualifying investments meet the minimum investment criteria
- determining that proposed qualifying investments meet the criteria for job creation under the Program
- monitoring the target business with respect to continuing qualification under the Program
- monitoring the qualifying investments and the financial performance of the target business
- supervising DCED's performance of its obligations under the Advisory Agreement
- updating limited partners on the investment with semi-annual reports
- calling meetings of limited partners, as necessary
- maintaining limited partnership books and records
- retaining lawyers, auditors and other professionals as may be required on behalf of the limited partnership
The General Partner has retained DCED, and each offering limited partnership will enter into an advisory agreement with DCED, to provide certain advisory and administrative services to each limited partnership (see "Role of DCED").
