Exhibit 10.6
CERTIFICATION OF FORMATION
OF
RAND CAPITAL MANAGEMENT, LLC
THIS CERTIFICATE OF FORMATION ("Certificate") is made as of this 11th day of January, 2002 by Allen F. Grum, Jr., acting as Organizer, whose address is 2200 Rand Building, Buffalo, NY 14203 and who is at least eighteen years of age.
EXPLANATORY STATEMENT
Allen F. Grum, Jr., desiring to organize a limited liability company under and pursuant to the provisions of the Delaware Limited Liability Company Act (6 Del. C Section 18-101, et seq.) ("Act"), hereby forms a limited liability company for the purposes and on the terms and conditions hereinafter set forth (the "Company"), and hereby certifies to the Secretary of State of Delaware as follows:
To engage solely in the business
of serving as the General Partner of Rand Capital SBIC, LP, which is applying
for a license from the Small Business Administration to operate as a Small
Business Investment Company in accordance with the Small Business Investment
Company Act, and to perform any and all activities necessary and proper in
connection therewith and convenient or incidental thereto.
IN WITNESS WHEREOF, the undersigned have executed this Certificate of Formation of Rand Capital Management, LLC this 11th day of January, 2002.
WITNESS:
/s/ Elspeth A. Doneldson
|
/s/ Allen F. Grum, Jr.
Allen F. Grum, Jr. Authorized Person |
EXHIBIT A
ENTITY INSTITUTIONAL INVESTORS
Name and |
Qualifying Subsection of Section (1) and |
Capital |
Paid-In
Capital |
Unfunded Commitment |
Rand Capital Corporation 2200 Rand Building Buffalo, New York 14203 |
(viii) | $5,000,000 | $5,000,000 | $0 |
Total: | $5,000,000 | $5,000,000 | $0 |
APPLICANT'S
INDIVIDUAL INSTITUTIONAL INVESTORS
Name and |
Qualifying Subsection of Section (2) |
Capital |
Paid-In
Capital |
Unfunded Commitment |
N/A | N/A | N/A | N/A | N/S |
APPLICANT'S
OTHER PARTNERS
Name and |
Capital |
Paid-In
Capital |
Unfunded Commitment |
Rand Capital Management, LLC | $50,000 | $0 | $50,000 |
Total: | $50,000 | $0 | $50,000 |
AGGREGATE
PARTNERSHIP TOTALS
Name and |
Capital |
Paid-In
Capital |
Unfunded Commitment |
(a) All Institutional Investors |
$5,000,000 | $5,000,000 | $0 |
(b) All Partners | $0 | $0 | $50,000 |
PARTNERSHIP TOTAL | $5,000,000 | $5,000,000 | $50,000 |