Common use of Investment Assurances Clause in Contracts

Investment Assurances. Unless the Common Units issuable upon exercise of this Option are then registered under the Securities Act, the General Partner may require an Optionholder, as a condition of exercising or acquiring Common Units under the Option, to give written assurances that he is an "accredited investor," as defined in the rules and regulations under the Securities Act. The General Partner may, upon advice of counsel to the General Partner, place legends on Common Units certificates issued under the Option as such counsel deems necessary or appropriate in order to comply with applicable securities laws, including, but not limited to, legends restricting the transfer of the Common Units.