Common use of Offers and Sales of Units Clause in Contracts

Offers and Sales of Units. Selling Agent represents and warrants that at the time of selling the Units to a prospective purchaser Selling Agent will possess a factual basis of evaluating a prospective offeree's financial circumstances and sophistication to determine whether an investment in the Units is appropriate for the prospective offeree in light of the merits and risks of the investment in the Units. To that end, Selling Agent shall review any and all subscription applications submitted to Selling Agent by any Selling Agent ISO's to determine that such subscription applications have been properly completed, executed and, if applicable, initialed and that any investor completing such applications does, in fact, represents in such applications that such investor qualifies to invest in the Partnership.