Angel Term Form Withdrawal In Oakland

State:
Multi-State
County:
Oakland
Control #:
US-00016DR
Format:
Word; 
Rich Text
Instant download

Description

The Angel Term Form Withdrawal in Oakland serves as a comprehensive document for companies looking to manage their Series A Preferred Stock offerings. It outlines essential terms of the investment, including the minimum offering amount, purchase price, and share capitalization. The form systematically presents rights, preferences, and privileges associated with the stock, covering dividends, liquidation preference, conversion rights, and anti-dilution provisions. It also includes critical terms for the Investors Rights Agreement, such as information rights, registration rights, and co-sale rights. The form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants who are involved in structuring angel investments or advising clients on financing strategies. Users are instructed on how to fill out the form, including entering company details and financial terms, ensuring clarity and compliance with legal standards. The form is designed to accommodate various iterations based on investment specifics, making it adaptable to different funding scenarios.
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FAQ

The Ellis Act is a state law (Government Code Section 7060 et. seq.) designed to allow landlords to get “out of the rental business.” In order for Ellis evictions to be approved, landlords must remove all units within a building from the rental market for five years. It cannot be applied to just a single unit.

The landlord must first serve a "warning notice", also known as the 7 Day Notice to Cease. a. The time to "cease" must give the tenant at least 7 days, but can be reduced to 24 hours if the violation presents an immediate and substantial danger.

The Costa-Hawkins Rental Housing Act is a 1995 California state law that allows landlords who rent single-family houses to raise rents as much as they like - it exempts them from rent control laws that end up only applying to apartments.

The Ellis Act is a provision in California Law that provides landlords in California with a legal way to "go out of business" short of selling the property to another landlord.

As of 2019, it was $6,985.23 per tenant, with an additional $4656.81 per disabled or elderly tenant, capped at $20,955.68 per unit.

The city has long limited rent increases to 60% of CPI, and starting in 2022, Oakland passed an ordinance capping rent increases at 3% if the CPI increase exceeds that rate. Landlords can't raise rent more than once a year, and they need to inform tenants in writing 30 days prior to any increase going into effect.

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Angel Term Form Withdrawal In Oakland