Identify actual management authority, decision procedures, ownership and the rights relied upon to develop and direct the business.
Read the effect of the rights, not only their heading
A seat on a board or a veto over exceptional transactions may have a different purpose from running the enterprise. Preserve the executed agreement and supporting role evidence, and resolve contradictions with the proposed business plan. Do not describe a power the investor has not actually received or treat a future amendment as already effective.
From the partner: several years of financial statements and business tax returns, current payroll showing employees, the main service contracts, state licences for the trade, the premises lease, vehicle and equipment lists, and the existing formation and ownership documents. Include the signed exercise notice, proof it was delivered and accepted as the contract requires, wire records, escrow instructions, closing statement, updated share ledger, board consents, and agreements showing current voting or operational rights.