Financial Advisor Representation Clause Samples

Financial Advisor Representation. Contributor and such Contributor’s respective Unit Recipient acknowledge that neither the Operating Partnership, the OP Sub, the REIT nor any of their affiliates, officers, directors, employees or consultants have (i) acted as a financial advisor, investment advisor, broker-dealer or registered representative for the Contributor or such Contributor’s respective Unit Recipient with respect to the acquisition of the Units; nor (ii) evaluated or determined whether the Units are “suitable” for such Contributor’s respective Unit Recipient under the federal, or state securities laws, rules and regulations or the rules and regulations of the Financial Industry Regulatory Authority (FINRA). Contributor and such Contributor’s respective Unit Recipient acknowledge that he, she or it has been advised and directed by the Operating Partnership, the OP Sub, the REIT and/or any of their affiliates, officers, directors, employees or consultants to retain a financial advisor, investment advisor, broker-dealer and/or a registered representative to determine whether the Units are “suitable” for such Contributor’s respective Unit Recipient, and if the Contributor and such Contributor’s respective Unit Recipient have chosen not to engage a financial advisor, investment advisor, broker-dealer and/or a registered representative then the Contributor and such Contributor’s respective Unit Recipient has done so at his, her or its own risk.