Common use of Investment; No Distribution Clause in Contracts

Investment; No Distribution. The Subscriber is acquiring the shares of Preferred Stock subscribed for (the "Preferred Shares") solely for investment purposes for the Subscriber's own account (or for beneficiaries' accounts over which the Subscriber has investment discretion but no discretionary authority as to voting or disposition) and not with a view to a distribution of all or any part thereof. The Subscriber is aware that there are legal and practical limits on its ability to sell or dispose of the Preferred Shares and the Conversion Shares (collectively, the "Securities"), and therefore, that the Subscriber must bear the economic risk of its investment for an indefinite period of time. The Subscriber has adequate means of providing for its current needs and anticipated contingencies and has no need for liquidity of this investment. The Subscriber's commitment to illiquid investments is reasonable in relation to its net worth.

Appears in 2 contracts

Samples: Subscription Agreement (Si Diamond Technology Inc), Subscription Agreement (Si Diamond Technology Inc)

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Investment; No Distribution. The Subscriber is acquiring the shares of Preferred Common Stock subscribed for (the "Preferred SharesCommon Stock") solely for investment purposes for the Subscriber's own account (or for beneficiaries' accounts over which the Subscriber has investment discretion but no discretionary authority as to voting or disposition) and not with a view to a distribution of all or any part thereof. The Subscriber is aware that there are legal and practical limits on its ability to sell or dispose of the Preferred Shares Common Stock and the Conversion Shares shares of Common Stock underlying the Warrants (collectively, the "Securities"), and therefore, that the Subscriber must bear the economic risk of its investment for an indefinite period of time. The Subscriber has adequate means of providing for its current needs and anticipated contingencies and has no need for liquidity of this investment. The Subscriber's commitment to illiquid investments is reasonable in relation to its net worth.

Appears in 1 contract

Samples: Subscription Agreement (Si Diamond Technology Inc)

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Investment; No Distribution. The Subscriber is acquiring the Warrants to purchase shares of Preferred Common Stock subscribed for (the "Preferred SharesWarrants") solely for investment purposes for the Subscriber's own account (or for beneficiaries' accounts over which the Subscriber has investment discretion but no discretionary authority as to voting or disposition) and not with a view to a distribution of all or any part thereof. The Subscriber is aware that there are legal and practical limits on its ability to sell or dispose of the Preferred Shares Warrants and the Conversion Shares shares of Common Stock underlying the Warrants (collectively, the "Securities"), and therefore, that the Subscriber must bear the economic risk of its investment for an indefinite period of time. The Subscriber has adequate means of providing for its current needs and anticipated contingencies and has no need for liquidity of this investment. The Subscriber's commitment to illiquid investments is reasonable in relation to its net worth.

Appears in 1 contract

Samples: Subscription Agreement (Si Diamond Technology Inc)

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