Common use of Compliance Activities Clause in Contracts

Compliance Activities. Selling Agent acknowledges and agrees that the performance of certain compliance activities regarding the independent sales offices (ISO's) selling Partnership Units to investors and, if applicable, regarding investor participation in the Partnership is a responsibility of Selling Agent hereunder. Selling agent shall perform the following compliance activities ("Compliance Activities"), which shall include, without limitation, the following: 3.6.1. Selling Agent shall receive from the Partnership or, if applicable, its escrow agent, a copy of each subscription application package (the "Application") submitted by any person or entity submitting such an application package for admission as a Partner in the Partnership (such persons are referred to herein as "Prospective Partners"); 3.6.3. Selling Agent shall review each Application to determine whether the Prospective Partner submitting such application properly completed and executed such Application;

Compliance Activities. Selling Agent acknowledges and agrees that the performance of certain compliance activities regarding the independent sales offices ("ISO's") selling Partnership Units to investors and, if applicable, regarding investor participation in the Partnership is a responsibility of Selling Agent hereunder. Selling agent shall perform the following compliance activities ("Compliance Activities"), which shall include, without limitation, the following: 3.6.1. Selling Agent shall receive from the Partnership or, if applicable, its escrow agent, a copy of each subscription application package (the "Application") submitted by any person or entity submitting such an application package for admission as a Partner in the Partnership (such persons are referred to herein as "Prospective Partners"); 3.6.3. Selling Agent shall review each Application to determine whether the Prospective Partner submitting such application properly completed and executed such Application;