Common use of Purchase for Purpose of Investment Clause in Contracts

Purchase for Purpose of Investment. The Investor (or its permitted designee) is acquiring the Shares under this Agreement for its own account solely for the purpose of investment and not with a view to, or for sale in connection with, any distribution thereof in violation of the Securities Act. The Investor acknowledges that the shares of Series A Convertible Preferred Stock to be acquired by it or any other member of the Investor Group have not been registered under the Securities Act and may be sold or disposed of in the absence of such registration only pursuant to any exemption from such registration and in accordance with the terms of the Transaction Agreements. Neither the Investor nor any other member of the Investor Group Beneficially Owns any Voting Securities.