Common use of Securities Regulation Clause in Contracts

Securities Regulation. (a) Such Member acknowledges and agrees that such Member’s Interest is being issued and sold in reliance on the exemption from registration under the Securities Act and exemptions contained in applicable state securities laws, and that such Member’s Interest cannot and will not be sold or transferred except in a transaction that is exempt under the Securities Act and applicable state securities laws or pursuant to an effective registration statement under the Securities Act and applicable state securities laws.

Securities Regulation. (a) Such Member It acknowledges and agrees that such Member’s the Membership Interest is being issued and sold in reliance on the exemption from registration under contained in Section 4(2) of the Securities Act and exemptions contained in applicable state securities laws, and that such Member’s Interest it cannot and will not be sold or transferred except in a transaction that is exempt under the Securities Act and applicable those state securities laws 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 applicable those state securities lawsacts.