The Formation Date refers to the date of creation of an entity (SPV) as recorded with the jurisdiction where it is filed. For Master and Regular/Traditional SPVs, this is the official date of establishment. For Series SPVs, the Formation Date is either the date a deal is initiated or, at the latest, the date the deal closes. For most SPV Organizers, the Formation Date is the date they launch the SPV by filing with a jurisdiction (e.g., Delaware or Utah) or the date they begin inviting investors to consider the opportunity, particularly in the case of a Series LLC structure.
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