Common use of Securities Regulation Clause in Contracts

Securities Regulation. (a) It acknowledges and agrees that the Partnership Interest is being issued and sold in reliance on the exemption from registration contained in Section 4(2) of the Securities Act and exemptions contained in applicable state securities laws, and that it cannot and will not be sold or transferred except in a transaction that is exempt under the Securities Act and those state acts or pursuant to an effective registration statement under those acts or in a transaction that is otherwise in compliance with the Securities Act and those state acts. (b) It understands that it has no contract right for the registration under the Securities Act of the Partnership Interest for public sale and that, unless such Partnership Interest is registered or an exemption from registration is available, such Partnership Interest may be required to be held indefinitely.

Securities Regulation. (a) It acknowledges and agrees that the Partnership Membership Interest is being issued and sold in reliance on the exemption from registration contained in Section 4(2) of the Securities Act and exemptions contained in applicable state securities laws, and that it cannot and will not be sold or transferred except in a transaction that is exempt under the Securities Act and those state acts or pursuant to an effective registration statement under those acts or in a transaction that is otherwise in compliance with the Securities Act and those state acts. (b) It understands that it has no contract right for the registration under the Securities Act of the Partnership Membership Interest for public sale and that, unless such Partnership Membership Interest is registered or an exemption from registration is available, such Partnership Membership Interest may be required to be held indefinitely.