Common use of Representations by Purchasers Clause in Contracts

Representations by Purchasers. Each Purchaser represents and warrants to the Company that: (a) The Purchaser is an "Accredited Investor" within the meaning of Rule 501 under the Securities Act. (b) The Preferred Shares are being acquired for the Purchaser's own account for the purpose of investment and not with a present view to or for sale in connection with any distribution thereof; provided, that the disposition of the Purchaser's property shall at all times be and remain within its control. (c) The Purchaser understands that (i) none of the Preferred Shares or the Warrants have been registered under the Securities Act, (ii) the Preferred Shares and the Warrants must be held indefinitely unless a subsequent disposition thereof is registered under the Securities Act or an exemption from registration is available under applicable securities laws then in effect, and (iii) the Preferred Shares and the Warrants will bear a legend to such effect and the Company will make a notation on its transfer books to such effect. (d) The Purchaser understands that no public market now exists for the Preferred Shares or the Warrants.

Representations by Purchasers. Each Purchaser represents and warrants to the Company that: (a) The Such Purchaser is an "Accredited Investor" within the meaning of Rule 501 under the Securities Act. (b) The Preferred Shares Units and the Shortfall Warrants are being acquired for the such Purchaser's own account for the purpose of investment and not with a present view to or for sale in connection with any distribution thereof; provided, that the disposition of the such Purchaser's property shall at all times be and remain within its control. (c) The Such Purchaser understands that (i) none of the Preferred Shares or the Warrants Securities have been registered under the Securities Act, (ii) the Preferred Shares and the Warrants Securities must be held indefinitely unless a subsequent disposition thereof is registered under the Securities Act or an exemption from registration is available under applicable securities laws then in effect, and (iii) the Preferred Shares and the Warrants Securities will bear a legend to such effect and the Company will make a notation on its transfer books to such effect. (d) The Such Purchaser understands that no public market now exists for the Preferred Shares or the WarrantsWarrants issued by the Company.

Representations by Purchasers. Each Purchaser severally represents and warrants to the Company that: (a) The Purchaser is an a "Accredited InvestorQualified Institutional Buyer" within the meaning of Rule 501 144A under the Securities Act. (b) The Preferred Shares Units are being acquired for the such Purchaser's own account for the purpose of investment and not with a present view to or for sale in connection with any distribution thereof; provided, subject to the condition that the disposition of the Purchaser's property of a Purchaser shall be at all times be and remain within its control. (c) The Such Purchaser understands that (i) none of the Units, the Preferred Shares or the Warrants have been registered under the Securities Act, (ii) the Preferred Shares and the Warrants must be held indefinitely unless a subsequent disposition thereof is registered under the Securities Act or an exemption from registration is available under applicable securities laws then in effect, and (iii) the Preferred Shares and the Warrants will bear a legend to such effect and the Company will make a notation on its transfer books to such effect. (d) The Such Purchaser understands that no public market now exists for the Preferred Shares or Warrants issued by the WarrantsCompany.