Common use of Bona Fide Purpose Clause in Contracts

Bona Fide Purpose. If the Subscriber is not an individual but is a corporation, syndicate, partnership, trust, association, or any other form of unincorporated organization or organized group of persons, it has not been created solely or used primarily to permit a group of persons to purchase securities without the use of a prospectus by the issuer in reliance on a prospectus exemption, it pre-existed the offering of Units and has a bona fide purpose other than investment in the Units;