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York, and thereafter to operate such franchise rights by the
construction of additional cable communication facilities and
marketing such facilities in New York or Illinois.
The class A partners, their percentage interests in Long
Island Cable, and their capital contributed were as follows:
Partner Percentage Capital Contributed
Charles F. Dolan 60 $100,000
Steven Miller 25 40,000
Peter Strauss 15 25,000
Total 100 165,000
The Long Island Cable partnership agreement provided that
the class B partner, OBA, agreed to contribute or secure
additional partners to contribute all additional cash required by
way of capital to advance the business of Long Island Cable.
The Long Island Cable partnership agreement provided that
the profits and losses of Long Island Cable were to be shared by
the class A Partners in their percentage capital interests until
January 1, 1977, or the first date the class B partner, OBA, was
called upon to contribute capital to Long Island Cable, whichever
date occurred earlier and, thereafter, the profits and losses
were to be shared 7/8 by the class A partners and 1/8 by the
class B partner, OBA.
On January 25, 1974, a New York limited partnership, also
called Long Island Cable Communications Development Co. (LICCDC)
was formed by and among Communications Development Long Island
Corp. a New York corporation (CDLIC), Communications Management
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