Common use of Knowledge, Experience and Due Diligence Clause in Contracts

Knowledge, Experience and Due Diligence. The Holder acknowledges that it is a sophisticated investor and has such knowledge and experience in financial and business matters that it is capable of evaluating the merits and risks of this investment and has substantial experience in making investment decisions of the type contemplated hereby. The Holder can bear the economic risks of this investment, can afford a complete loss of its investment and has no present need for liquidity in conjunction with the purchase of the Securities. During the course of this transaction and prior to the sale of the Securities hereunder, the Holder acknowledges that it has had the opportunity to ask questions of, and has received satisfactory answers from, management of the Company concerning the terms and conditions of this investment and the business and operations of the Company.