General Company Proposal – HolacracyOne

Accepted on: June 14, 2016, 11:00pm
Proposed by: Brian Robertson

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Any Partner of HolacracyOne may take an advance against future partnership distributions solely for the purpose of funding necessary purchases to meet the requirements of membership in the Organization. Such advance shall be limited to a maximum of one advance per calendar year and an advanced amount not to exceed 60% of such member’s monthly draw, or, if such draw is documented to be higher in the fourth month following the date of such draw, then 60% of such higher draw amount. HolacracyOne shall reclaim any amounts so advanced by deducting the amount of such advance from such member’s monthly draw in three equal monthly installments beginning with the draw issued in the fourth month following the month in which such advance was taken. Notwithstanding the foregoing, no advance shall be allowed to cross a calendar-year boundary, and thus HolacracyOne shall reclaim the full amount of any remaining outstanding advances from the last draw issued during a calendar year.As a Partner of HolacracyOne, you may take an advance against future partnership distributions for the purpose of funding purchases to meet requirements of partnership. You may only take one advance per calendar year for this purpose, and the advance (in USD) may not exceed your Class P Units. Before receiving funds, you must propose intended repayment terms to @Finance and integrate any objections raised.