Common use of Offering of Units Clause in Contracts

Offering of Units. There shall have been no change in any securities or related law or interpretation, nor any change in Contributor’s status as an “accredited investor” under the Securities Act that would render the consummation of the conveyance of the Property for Units, as contemplated by this Agreement, a violation of any such laws or interpretations thereof.

Offering of Units. There shall have been no change ----------------- in any securities or related law law, regulation or interpretation, nor any change in Contributor’s any Unit Recipient's status as an “"accredited investor” " under the Securities Act Act, that would render the consummation of the conveyance of any portion of the Property for Units, Units as contemplated by this Agreement, Agreement a violation of any such laws laws, regulation or interpretations thereof. The representations and warranties of each Unit Recipient contained in this Agreement and in the Prospective Subscriber Questionnaire shall be true and correct as of the Close of Escrow.