Claimant Status Sample Clauses
The Claimant Status clause defines who is recognized as having the right to make a claim under the agreement. Typically, this clause specifies whether only the direct parties to the contract, or also third parties such as successors, assigns, or affiliates, are eligible to bring claims. For example, it may clarify that only the named buyer or seller can initiate a dispute, or it may extend rights to parent companies or subsidiaries. The core function of this clause is to prevent ambiguity about who can enforce the contract, thereby reducing the risk of unexpected or unauthorized claims.
Claimant Status. CLAIMANT represents and the COMPANY confirms such representation, as follows:
a. CLAIMANT believes it is not an affiliate, now or by way of this Agreement, and relies upon the COMPANY knowledge of the members of the Board, officers and shareholdings, etc. in such regard (COMPANY represents to CLAIMANT that it has concluded and CLAIMANT may rely upon same, that CLAIMANT is not and will not be, by way of this Agreement, as affiliate of the COMPANY.); and CLAIMANT is (i) an "accredited investor" as that term is defined in Rule 501 of the General Rules and Regulations under the Securities Act of 1933, as amended, the "Act" by reason of Rule 501 and (ii) able, by reason of the business and financial experience of its officers (if an entity) and professional advisors, as a sophisticated investor.
Claimant Status. Claimant represents and the Company confirms such representation, as follows:
A. Claimant believes it is not an affiliate, now or by way of this Agreement; and
B. Claimant is (i) an "accredited investor" as that term is defined in Rule 501 of the General Rules and Regulations under the Securities Act of 1933, as amended, the "Act" by reason of Rule 501 and (ii) able, by reason of the business and financial experience, a sophisticated investor.
Claimant Status. CLAIMANT represents and the COMPANY confirms such representation, as follows:
a. CLAIMANT believes it is not an affiliate, now or by way of this Agreement, and relies upon the COMPANY knowledge of the members of the Board, officers and shareholdings, etc. in such regard (COMPANY represents to CLAIMANT that it has concluded and CLAIMANT may rely upon same, that CLAIMANT is not and will not be, by way of this Agreement, an affiliate of the COMPANY); and CLAIMANT is (i) an "accredited investor" as that term is defined in Rule 501 under the Securities Act of 1933and (ii) capable, by reason of the business and financial experience of its officers (if an entity) and professional advisors, as a sophisticated investor, of evaluating, the merits and risks of the prospective investment;.