Common use of Purchase Eligibility Clause in Contracts

Purchase Eligibility. Pursuant to FINRA Rule 0000, Xxxxxx may not sell or cause to be sold a new issue to any account in which a restricted person holds a beneficial interest unless the account qualifies for a general exemption under the New Issue Rule. In addition, pursuant to FINRA Rule 5131 firms may not, under certain circumstances, allocate shares of a new issue to any account in which an executive officer or director of a public company or a covered non-public company, or a person materially supported by such executive officer or director, has a beneficial interest unless the account qualifies for a general exemption.