Ownership Limitation and Reporting. Subscriber acknowledges and agrees that, pursuant to the terms of the Operating Agreement, Subscriber generally cannot own, or be deemed to beneficially own, as “beneficial ownership” is determined pursuant to Section 13(d) and 13(g) of the Securities Act, more than 24.99% of the total number of Class A shares outstanding of the Series. We may waive such limits on a case-by-case basis in its sole discretion. In addition, if Subscriber holds 10% or more of the Class A shares of the Series entitled to vote, Subscriber acknowledges that Subscriber’s name, address and holdings may be reported in the Company’s ongoing SEC filings.
Appears in 12 contracts
Samples: Form of Subscription Agreement (Masterworks Vault 1, LLC), Subscription Agreement (Masterworks Vault 3, LLC), Subscription Agreement (Masterworks Vault 4, LLC)
Ownership Limitation and Reporting. Subscriber acknowledges and agrees that, pursuant to the terms of the Company’s Operating Agreement, Subscriber generally cannot own, or be deemed to beneficially own, as “beneficial ownership” is determined pursuant to Section 13(d) and 13(g) of the Securities Act, more than 24.9919.99% of the total number of Class A shares outstanding of the Seriesoutstanding. We The Company may waive such limits on a case-by-case basis in its sole discretion. In addition, if Subscriber holds 10% or more of the Class A shares of the Series entitled to vote, Subscriber acknowledges that Subscriber’s name, address and holdings may be reported in the Company’s ongoing SEC filings.
Appears in 5 contracts
Samples: Form of Subscription Agreement (Masterworks 146, LLC), Form of Subscription Agreement (Masterworks 161, LLC), Form of Subscription Agreement (Masterworks 192, LLC)
Ownership Limitation and Reporting. Subscriber acknowledges and agrees that, pursuant to the terms of the Operating Agreement, Subscriber generally cannot own, or be deemed to beneficially own, as “beneficial ownership” is determined pursuant to Section 13(d) and 13(g) of the Securities Act, more than 24.9919.99% of the total number of Class A shares outstanding of the Series. We may waive such limits on a case-by-case basis in its sole discretion. In addition, if Subscriber holds 10% or more of the Class A shares of the Series entitled to vote, Subscriber acknowledges that Subscriber’s name, address and holdings may be reported in the Company’s ongoing SEC filings.
Appears in 2 contracts
Samples: Subscription Agreement (Masterworks Vault 2, LLC), Form of Subscription Agreement (Masterworks Vault 1, LLC)