Investment Company Restrictions. The Borrower shall not become required to register as an “investment company” under the 1940 Act.
Investment Company Restrictions. If the Subscriber is or would be an investment company as defined by the Investment Company Act, the Subscriber represents that but for the exceptions contained in Section 3(c)(1) or Section 3(c)(7) of the Investment Company Act, it recognizes that the Corporation is restricted by law as to the number of beneficial owners of the Corporation, and, that in determining the number of beneficial owners, it may be necessary to count the beneficial owners of the Subscriber if its Share percentage is greater than 10% of the outstanding Shares held by all shareholders of Corporation. Accordingly, the Subscriber agrees to take whatever action is requested by the Corporation to ensure that its Share percentage represents less than 10% of the total Shares held by all shareholders of Corporation and expressly agrees that the Corporation may require the Subscriber to withdraw at any time so much of its Capital Account as is necessary to keep such Share percentage below 10%.
Investment Company Restrictions. Each Member organized in the United States covenants and agrees that it will not make a public offering of its own securities if as a result of such offering, LLC will become an entity controlled by an investment company registered under the Investment Company Act of 1940.
Investment Company Restrictions. If the Subscriber is or would be an investment company as defined by the Investment Company Act, the Subscriber represents that but for the exceptions contained in Section 3(c)(1) or Section 3(c)(7) of the Investment Company Act, it recognizes that the Corporation is restricted by law as to the number of beneficial owners of the Corporation, and, that in determining the number of beneficial owners, it may be necessary to count the beneficial owners of the Subscriber if its Share percentage is greater than 10% of the outstanding Shares held by all shareholders of Corporation. Accordingly, the Subscriber agrees to take whatever action is requested by the Corporation to ensure that its Share percentage represents less than 10% of the total Shares held by all shareholders of Corporation and expressly agrees that the Corporation may require the Subscriber to withdraw at any time so much of its Capital Account as is necessary to keep such Share percentage below 10%. STOCK SUBSCRIPTION AGREEMENT RAD Diversified REIT, Inc. 200 X. Xxxx Xxxxxx, Tampa, FL 33609
Investment Company Restrictions. Seller shall not become a “covered fund” under Section 13 of the U.S. Bank Holding Company Act of 1951, as amended, and any applicable implementing regulation or required to register as an “investment company” under the Investment Company Act.
