Purchasers Who Are Individuals. 1. X I am a natural person (individual) whose own net worth, taken together with the net worth of my spouse, exceeds $1,000,000. Net worth for this purpose means total assets (excluding the value of my principal residence) in excess of total liabilities (excluding the amount of indebtedness secured by my primary residence up to the fair market value of my primary residence (except that if the amount of indebtedness secured by my primary residence at this time exceeds the amount of such indebtedness 60 days ago, other than as a result of the acquisition of my primary residence, the amount of such excess shall be included)). Additionally, indebtedness secured by my primary residence in excess of the value of my home will be deducted from the determination of my net worth. 2. I am a natural person (individual) who had an individual income in excess of $200,000 in each of the last two years, and who reasonably expects to reach the same income level in the current year.
Appears in 4 contracts
Samples: Subscription Agreement (Solitario Exploration & Royalty Corp.), Subscription Agreement (Solitario Exploration & Royalty Corp.), Subscription Agreement (Solitario Exploration & Royalty Corp.)
Purchasers Who Are Individuals. 1. X I am a natural person (individual) whose own net worth, taken together with the net worth of my spouse, exceeds $1,000,000. Net worth for this purpose means total assets (excluding the value of my principal residence) in excess of total liabilities (excluding the amount of indebtedness secured by my primary residence up to the fair market value of my primary residence (except that if the amount of indebtedness secured by my primary residence at this time exceeds the amount of such indebtedness 60 days ago, other than as a result of the acquisition of my primary residence, the amount of such excess shall be included)). Additionally, indebtedness secured by my primary residence in excess of the value of my home will be deducted from the determination of my net worth.
2. I am a natural person (individual) who had an individual income in excess of $200,000 in each of the last two years, and who reasonably expects to reach the same income level in the current year.
3. I am a natural person (individual) who had a joint income with my spouse in excess of $300,000 in each of the last two years, and who reasonably expects to reach the same income level in the current year.
Appears in 1 contract
Samples: Subscription Agreement (Solitario Exploration & Royalty Corp.)
