Common use of Sophistication and Risk Clause in Contracts

Sophistication and Risk. 5.6.1 It has such knowledge and experience in financial and business matters, that it is capable of evaluating, and has evaluated, the merits and risks of the Offering. By reason of its business or financial experience, it has the capacity to protect its interests in connection with an investment in the Company. 5.6.2 It understands that no Israeli or U.S. federal or state agency has passed upon the Shares or made any finding or determination as to the fairness of the transactions contemplated in the Transaction Documents. 5.6.3 It understands that the Shares are speculative investments which involve a high degree of risk, including the risk that such Investor might lose its entire amount invested in the Company. 5.6.4 It understands that any tax benefits that may be available to such Investor may be lost through adoption of new laws, amendments to existing laws or regulations, or changes in the interpretation of existing laws and regulations. 5.6.5 It has the financial ability to bear the economic risk of its investment in the Company and has adequate net worth and means of providing for the Investor's current needs and contingencies to sustain a complete loss of the Investor's investment and has no need for liquidity in the Investor's investment in the Company. 5.6.6 It is an "Accredited Investor," as such term is defined in Rule 501 of Regulation D under the Securities Act of 1933.

Sophistication and Risk. 5.6.1 4.5.1 It has such knowledge and experience in financial and business matters, that it is capable of evaluating, and has evaluated, the merits and risks of the Offering. By reason of its business or financial experience, it has the capacity to protect its interests in connection with an investment in the Company. 5.6.2 4.5.2 It understands that no Israeli or U.S. federal or state agency has passed upon the Shares or made any finding or determination as to the fairness of the transactions contemplated in the Transaction DocumentsAgreement. 5.6.3 4.5.3 It understands that the Shares are speculative investments investments, which involve a high degree of risk, including the risk that such the Investor might lose its entire amount invested in the Company. 5.6.4 4.5.4 It understands that any tax benefits that may be available to such Investor the Investor, if any, may be lost through adoption of new laws, amendments to existing laws or regulations, or changes in the interpretation of existing laws and regulations. 5.6.5 4.5.5 It has the financial ability to bear the economic risk of its investment in the Company and has adequate net worth and means of providing for the Investor's ’s current needs and contingencies to sustain a complete loss of the Investor's ’s investment and has no need for liquidity in the Investor's ’s investment in the Company. 5.6.6 4.5.6 It is an "Accredited Investor," as such term is defined in Rule 501 of Regulation D under the Securities Act of 1933.

Sophistication and Risk. 5.6.1 4.6.1 It has such knowledge and experience in financial and business matters, that it is capable of evaluating, and has evaluated, the merits and risks of the Offering. By reason of its business or financial experience, it has the capacity to protect its interests in connection with an investment in the Company. 5.6.2 4.6.2 It understands that no Israeli or U.S. federal or state agency has passed upon the Shares or made any finding or determination as to the fairness of the transactions contemplated in the Transaction Documents. 5.6.3 4.6.3 It understands that the Shares are speculative investments investments, which involve a high degree of risk, including the risk that such Investor might lose its entire amount invested in the Company. 5.6.4 4.6.4 It understands that any tax benefits that may be available to such Investor may be lost through adoption of new laws, amendments to existing laws or regulations, or changes in the interpretation of existing laws and regulations. 5.6.5 4.6.5 It has the financial ability to bear the economic risk of its investment in the Company and has adequate net worth and means of providing for the Investor's ’s current needs and contingencies to sustain a complete loss of the Investor's ’s investment and has no need for liquidity in the Investor's ’s investment in the Company. 5.6.6 4.6.6 It is an "“Accredited Investor," ” as such term is defined in Rule 501 of Regulation D under the Securities Act of 1933.

Sophistication and Risk. 5.6.1 4.6.1 It has such knowledge and experience in financial and business matters, that it is capable of evaluating, and has evaluated, evaluated the merits and risks of the Offering. By reason of its business or financial experience, it has the capacity to protect its interests in connection with an investment in the Company. 5.6.2 4.6.2 It understands that no Israeli or U.S. federal or state agency has passed upon the Shares or made any finding or determination as to the fairness of the transactions contemplated in the Transaction Documents. 5.6.3 4.6.3 It understands that the Shares are speculative investments investments, which involve a high degree of risk, including the risk that such Investor might lose its entire amount invested in the Company. 5.6.4 4.6.4 It understands that any tax benefits that may be available to such Investor may be lost through adoption of new laws, amendments to existing laws or regulations, or changes in the interpretation of existing laws and regulations. 5.6.5 4.6.5 It has the financial ability to bear the economic risk of its investment in the Company and has adequate net worth and means of providing for the Investor's ’s current needs and contingencies to sustain a complete loss of the Investor's ’s investment and has no need for liquidity in the Investor's ’s investment in the Company. 5.6.6 4.6.6 It is an "“Accredited Investor," ” as such term is defined in Rule 501 of Regulation D under the Securities Act of 1933.

Sophistication and Risk. 5.6.1 4.6.1 It has such knowledge and experience in financial and business matters, that it is capable of evaluating, and has evaluated, the merits and risks of the Offering. By reason of its business or financial experience, it has the capacity to protect its interests in connection with an investment in the Company. 5.6.2 4.6.2 It understands that no Israeli or U.S. federal or state agency has passed upon the Shares or made any finding or determination as to the fairness of the transactions contemplated in the Transaction DocumentsAgreement. 5.6.3 4.6.3 It understands that the Shares are speculative investments investments, which involve a high degree of risk, including the risk that such the Investor might lose its entire amount invested in the Company. 5.6.4 4.6.4 It understands that any tax benefits that may be available to such Investor the Investor, if any, may be lost through adoption of new laws, amendments to existing laws or regulations, or changes in the interpretation of existing laws and regulations. 5.6.5 4.6.5 It has the financial ability to bear the economic risk of its investment in the Company and has adequate net worth and means of providing for the Investor's ’s current needs and contingencies to sustain a complete loss of the Investor's ’s investment and has no need for liquidity in the Investor's ’s investment in the Company. 5.6.6 4.6.6 It is an "Accredited Investor," as such term is defined in Rule 501 of Regulation D under the Securities Act of 1933.

Sophistication and Risk. 5.6.1 4.6.1 It has such knowledge and experience in financial and business matters, that it is capable of evaluating, and has evaluated, the merits and risks of the Offering. By reason of its business or financial experience, it has the capacity to protect its interests in connection with an investment in the Company. 5.6.2 4.6.2 It understands that no Israeli or U.S. federal or state agency has passed upon the Shares or made any finding or determination as to the fairness of the transactions contemplated in the Transaction Documents. 5.6.3 4.6.3 It understands that the Shares are speculative investments investments, which involve a high degree of risk, including the risk that such the Investor might lose its entire amount invested in the Company. 5.6.4 4.6.4 It understands that any tax benefits that may be available to such the Investor may be lost through adoption of new laws, amendments to existing laws or regulations, or changes in the interpretation of existing laws and regulations. 5.6.5 4.6.5 It has the financial ability to bear the economic risk of its investment in the Company and has adequate net worth and means of providing for the Investor's ’s current needs and contingencies to sustain a complete loss of the Investor's ’s investment and has no need for liquidity in the Investor's ’s investment in the Company. 5.6.6 4.6.6 It is an "“Accredited Investor," ” as such term is defined in Rule 501 of Regulation D under the Securities Act of 1933.

Sophistication and Risk. 5.6.1 4.5.1 It has such knowledge and experience in financial and business matters, that it is capable of evaluating, and has evaluated, the merits and risks of the Offering. By reason of its business or financial experience, it has the capacity to protect its interests in connection with an investment in the Company. 5.6.2 4.5.2 It understands that no Israeli or U.S. federal or state agency has passed upon the Shares or made any finding or determination as to the fairness of the transactions contemplated in the Transaction DocumentsAgreement. 5.6.3 4.5.3 It understands that the Shares are speculative investments investments, which involve a high degree of risk, including the risk that such the Investor might lose its entire amount invested in the Company. 5.6.4 4.5.4 It understands that any tax benefits that may be available to such the Investor may be lost through adoption of new laws, amendments to existing laws or regulations, or changes in the interpretation of existing laws and regulations. 5.6.5 4.5.5 It has the financial ability to bear the economic risk of its investment in the Company and has adequate net worth and means of providing for the Investor's ’s current needs and contingencies to sustain a complete loss of the Investor's ’s investment and has no need for liquidity in the Investor's ’s investment in the Company. 5.6.6 4.5.6 It is an "“Accredited Investor," ” as such term is defined in Rule 501 of Regulation D under the Securities Act of 1933.

Sophistication and Risk. 5.6.1 4.5.1 It has such knowledge and experience in financial and business matters, that it is capable of evaluating, and has evaluated, the merits and risks of the Offering. By reason of its business or financial experience, it has the capacity to protect its interests in connection with an investment in the Company. 5.6.2 4.5.2 It understands that no Israeli or U.S. federal or state agency has passed upon the Shares or made any finding or determination as to the fairness of the transactions contemplated in the Transaction DocumentsAgreement. 5.6.3 4.5.3 It understands that the Shares are speculative investments investments, which involve a high degree of risk, including the risk that such the Investor might lose its entire amount invested in the Company. 5.6.4 4.5.4 It understands that any tax benefits that may be available to such the Investor may be lost through adoption of new laws, amendments to existing laws or regulations, or changes in the interpretation of existing laws and regulations. 5.6.5 4.5.5 It has the financial ability to bear the economic risk of its investment in the Company and has adequate net worth and means of providing for the Investor's ’s current needs and contingencies to sustain a complete loss of the Investor's ’s investment and has no need for liquidity in the Investor's ’s investment in the Company. 5.6.6 4.5.6 It is an "Accredited Investor," as such term is defined in Rule 501 of Regulation D under the Securities Act of 1933.