Securities Regulation. 13.2.1 It acknowledges and agrees that its Units are 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 its Units 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 the Securities Act and those state acts or in a transaction that is otherwise in compliance with the Securities Act and those state acts. 13.2.2 It understands that it has no contractual right for the registration under the Securities Act of its Units for public sale and that, unless its Units are registered or an exemption from registration is available, its Units may be required to be held indefinitely.
Appears in 4 contracts
Samples: Limited Liability Company Agreement (Rio Vista Energy Partners Lp), Limited Liability Company Agreement (Penn Octane Corp), Limited Liability Company Agreement (Rio Vista Energy Partners Lp)
