CONTRIBUTIONS AND ALLOCATIONS OF INTEREST. 16 Section 2.1 Closing of Joint Venture 16 Section 2.2 Clorox Contribution and Related Matters 16 Section 2.3 Contribution by P&G and Related Matters 19 Section 2.4 Nature of JV Interest 20 Section 2.5 Initial Allocations of Interest and Capital Accounts 20 Section 2.6 Additional Capital Calls and Parent Loans 21 Section 2.7 P&G Option 23 Section 2.8 Rights with Respect to Capital 24 Section 2.9 Capital Accounts 24 ARTICLE III ALLOCATIONS AND DISTRIBUTIONS 26 Section 3.1 Allocation of Net Profits and Losses 26 Section 3.2 Special Allocations 27 Section 3.3 Section 704(c) Allocation 29 Section 3.4 Distributions of Available Cash Flow 29 Section 3.5 Distributions of IP Related Amounts 32 ARTICLE IV REPRESENTATIONS AND WARRANTIES 33 Section 4.1 Representations and Warranties of all the Parties 33 Section 4.2 Representations and Warranties of the Clorox Parties 34 Section 4.3 Representations and Warranties of P&G 39 Section 4.4 Survival of Representations and Warranties 40 ARTICLE V GOVERNANCE 40 Section 5.1 Board of Managers 40 Section 5.2 Meetings of the Board 42 Section 5.3 P&G Veto Rights 44 Section 5.4 Business Plan, Budget and Reports to the Board 45 THE PORTIONS OF THIS AGREEMENT IDENTIFIED BY THE SYMBOL “[* * *]” HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO A CONFIDENTIAL TREATMENT REQUEST. TABLE OF CONTENTS (continued) Page Section 5.5 Additional Items for Board Approval 46 ARTICLE VI TRANSFERS OF INTEREST; TERM AND TERMINATION 47 Section 6.1 General; Restrictions on Transfers 47 Section 6.2 Effect of Transfers on Distributions among JV Partners 47 Section 6.3 Term of Joint Venture 48 Section 6.4 P&G Put Rights 48 Section 6.5 Clorox Purchase of P&G JV Interest 50 Section 6.6 Tag-Along Rights 52 Section 6.7 Drag Along Rights 52 Section 6.8 Services Termination Amount 53 ARTICLE VII CERTAIN AGREEMENTS 54 Section 7.1 Personnel; Provision of Services 54 Section 7.2 Non-Competition 55 Section 7.3 Confidentiality; Xxx-Xxxxxxxxxx 00 Section 7.4 Non-Solicitation 58 Section 7.5 Agreement to Cooperate; Further Assurances; Other Matters 59 Section 7.6 Public Statements 60 Section 7.7 Conduct of Business 60 Section 7.8 International Relationships 62 Section 7.9 Sublicenses of P&G Intellectual Property 62 ARTICLE VIII CONDITIONS PRECEDENT TO CLOSING 63 Section 8.1 Conditions to Each Party’s Obligations 63 Section 8.2 Conditions to the Closing Obligations of the Clorox Parties 63 Section 8.3 Conditions to the Closin...
CONTRIBUTIONS AND ALLOCATIONS OF INTEREST
