State Alcohol Beverage Laws. Certain state laws and regulations with respect to sale of alcoholic beverages may restrict a person from having a financial interest in a retailer that sells alcoholic beverages. The Investor represents that, to the best of the Investor’s knowledge, the Investor (and, as applicable, the Investor’s spouse) does not have hold any financial interest in any entity that makes or distributes any alcoholic beverage that is sold in the applicable state. The Investor also acknowledges that, to the extent required by law, NextSeed or the Issuer may furnish information about the Investor to the applicable regulators.
State Alcohol Beverage Laws. Certain state laws and regulations with respect to sale of alcoholic beverages may restrict a person from having a financial interest in a retailer that sells alcoholic beverages. The Investor represents that, to the best of the Investor’s knowledge, the Investor (and, as applicable, the Investor’s spouse) does not have hold any financial interest in any entity that makes or distributes any alcoholic beverage that is sold in the applicable state. The Investor also acknowledges that, to the extent required by law, NextSeed, NextSeed Services or the Issuer may furnish information about the Investor to the applicable regulators. The parties have determined that this Agreement shall be treated as a debt instrument for U.S. federal income tax purposes as of the Closing Date. Except as otherwise required by law, the parties shall report all payments under this Agreement in a manner consistent with the treatment of this Agreement as a debt instrument on the parties’ respective federal income tax returns. Each Investor hereby acknowledges and agrees that (a) starting from the Lock-In Period, the purchase of a Note by such Investor is irrevocable and such Investor is not entitled to cancel, terminate or revoke this Agreement or any of the representations, warranties, covenants or agreements made by such Investor in this Agreement, and (b) this Agreement and the representations, warranties, covenants and agreements made by such Investor in this Agreement shall survive the bankruptcy, death, incapacity, disability, adjudication of incompetence or insanity, liquidation or dissolution of such Investor. Nothing herein shall be construed as granting any Investor any right or authority to participate in the ownership, management or control of the Issuer. All notices and other communications hereunder between the parties shall be sent via the Website’s message center available through each party’s account with the Website, in accordance with the Website’s policies. All communications sent by an Investor following the Closing Date shall be managed by and through the Website, and each Investor understands and accepts the limitations on communications set forth in Section 9(l). EACH INVESTOR IS HEREBY ADVISED TO OBTAIN INDEPENDENT LEGAL AND TAX COUNSEL WITH RESPECT TO ISSUES WHICH MAY ARISE IN CONNECTION WITH LEGAL MATTERS CONCERNING THE COMPANY OR THIS AGREEMENT OR THE NOTES.
