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| This representation letter is provided in connection with the request to transfer funds from SUBFUND Holdings LP (the “Parent”) to each of SUBFUND Holdings I Limited (“Sub 1”) and SUBFUND Holdings II Limited (“Sub 2,” together with Sub 1, the “Subs,” and the Subs together with the Parent the “Funds”).
| | ==Janitorial and tidyups== |
| The Parent is the 100% legal and beneficial owner of the share capital of each of Sub 1 and Sub 2. Each of the Funds has entered into a prime brokerage arrangement with PB (PB) under which PB maintains bank accounts for the relevant Fund (each, that Fund’s “Account”).
| | *Finish CSA |
| The Parent has entered into distinct lending facilities (the “Facilities”) with each of Sub 1 and Sub 2 under which the Parent will lend each Sub such amounts as Sub needs to carry out in its investment strategy, as determined by the Manager (as defined below). The Subs may repay such borrowed amounts from time to time, either at the request of the Parent or at its own motion, as determined by the Manager.
| | *Search and destroy MANUALS |
| Each of the Funds have appointed MANAGER (the “Manager”) as its manager with full discretion to make investment decisions relating to each such entity’s investment strategy, including making advances and repayments under the Facilities. Each of the Funds wishes to authorize the Manager to issue irrevocable instructions to PB to transfer amounts between the relevant Fund’s Accounts to reflect advances and repayments under the relevant Facilities.
| | *Identify and kill off half-arsed anatomies |
| In consideration for PB agreeing to make those transfers in accordance with the instructions of the Manager, each Fund instructs PB to effect such transfers to or from its Account as instructed by the Manager, and agrees to hold PB harmless from any claims it may sustain as a result of doing so. As at the date of each instruction, the Manager (as a principal in its own right and as agent for each affected Fund) represents and warrants that:
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| - The Manager is duly authorized to make such instruction on behalf of each relevant Fund; | |
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| - The instruction represents an arm’s length transaction, at market, for valuable consideration and has been duly approved by the relevant Funds; and
| | ==Structure and organisation== |
| | *Reorganise overall site structure from the top down |
| | **On the way, kill off half-arsed sections |
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| - The relevant Sub has no creditors or shareholders other than (i) the Parent and (ii) PB | | ==Content== |
| | ===Technical=== |
| | *identify areas for development/reduction |
| | **crypto? |
| | ===Life=== |
| | Reorganise the laws of worker entropy |
| | ===Systems=== |
| | |
| | ==Marketing== |
| | ===Substack=== |
| | Newsletter to-dos - see [[:category:newsletter|newsletters]] |
| | Sequence |
| | *Technical |
| | *Life |
| | *Systems |
| | *Fun |
| | ====Systems==== |
| | ===Linkedin Premium === |
| | Have a schedule of posts |
| | ===X=== |
| | think of one |
| | |
| | ==Admin== |
| | *Bills and costs |
Janitorial and tidyups
- Finish CSA
- Search and destroy MANUALS
- Identify and kill off half-arsed anatomies
Structure and organisation
- Reorganise overall site structure from the top down
- On the way, kill off half-arsed sections
Content
Technical
- identify areas for development/reduction
Life
Reorganise the laws of worker entropy
Systems
Marketing
Substack
Newsletter to-dos - see newsletters
Sequence
- Technical
- Life
- Systems
- Fun
Systems
Linkedin Premium
Have a schedule of posts
X
think of one
Admin