State Blue Sky Qualification Clause Samples
The State Blue Sky Qualification clause requires that securities offered or sold comply with individual state securities laws, commonly known as "Blue Sky" laws. This clause typically obligates the issuer to ensure that all necessary registrations, filings, or exemptions are obtained in each state where the securities will be offered. For example, before selling shares to investors in multiple states, the issuer must confirm that each state's requirements are met to avoid legal violations. The core function of this clause is to ensure legal compliance across jurisdictions, thereby protecting both the issuer and investors from regulatory penalties and invalid securities transactions.
State Blue Sky Qualification. At your request, the Fund will take such steps as may be necessary and feasible to qualify Shares for sale in states, territories or dependencies of the United States, the District of Columbia, the Commonwealth of Puerto Rico and in foreign countries, in accordance with the laws thereof, and to renew or extend any such qualification; provided, however, that the Fund shall not be required to qualify shares or to maintain the qualification of shares in any jurisdiction where it shall deem such qualification disadvantageous to the Fund.
State Blue Sky Qualification. The Fund will be responsible for ensuring that any notices or filings, that are necessary for the purposes of achieving an exemption from registration of the Units under the Blue Sky Laws as may be applicable in connection with the transactions contemplated by this Agreement, are made, including the filing of documents with the SEC and relevant states. The Fund will furnish any required consent to service of process in connection therewith. The Fund or the Investment Adviser shall advise Foreside from time to time concerning the states and other jurisdictions in which solicitations of Eligible Investors by or on behalf of the Fund may be made under the applicable Blue Sky Laws. Upon request by Foreside, the Fund or the Investment Adviser shall provide evidence of qualification of Units in each applicable state or jurisdiction. The Fund shall reasonably endeavor to ensure that any individual who solicits Eligible Investors in the Fund is either (i) registered with Foreside or (ii) otherwise appropriately licensed or registered in the appropriate jurisdictions before any solicitation is made in such jurisdiction.
State Blue Sky Qualification. At the Distributor’s request, each Fund will take such steps as may be necessary and feasible to qualify Shares for offer and sale in states, territories or dependencies of the United States, the District of Columbia, and the Commonwealth of Puerto Rico (individually, “Jurisdiction” and collectively, “Jurisdictions”), in accordance with the laws and regulations thereof, and to renew or extend any such qualification; provided, however, that a Fund will not be required to qualify Shares or to maintain the qualification of Shares in any jurisdiction where it deems such qualification disadvantageous to the Fund.
State Blue Sky Qualification. The Fund will take such steps as may be necessary and feasible to qualify Units for sale in states, territories or dependencies of the United States, the District of Columbia, and the Commonwealth of Puerto Rico, in accordance with the laws thereof, and to renew or extend any such qualification; provided, however, that the Fund shall not be required to qualify Units or to maintain the qualification of Units in any jurisdiction where it shall deem such qualification disadvantageous to the Fund. The Managing Member agrees to cause counsel to the Managing Member, to prepare and deliver to you, a Blue Sky Survey which shall set forth the United States jurisdictions in which the Units may be offered and sold. The Managing Member agrees to use its best efforts to qualify the Units under the securities or Blue Sky laws of the various state jurisdictions, and to maintain such qualification during the term of the offering, provided that the Managing Member reserves the right to withdraw application for the Units' registration. It is understood and agreed that you may rely, in connection with the offering and sale of Units in any United States jurisdiction, on advice given by counsel to the Managing Member as to the legality of the offer or sale of the Units in such jurisdiction.
State Blue Sky Qualification. At your request, the Trust will take such steps as may be necessary and feasible to qualify Shares for sale in states, territories or dependencies of the United States, the District of Columbia, the Commonwealth of Puerto Rico and in foreign countries, in accordance with the laws thereof, and to renew or extend any such qualification; provided, however, that the Trust shall not be required to qualify shares or to maintain the qualification of shares in any jurisdiction where it shall deem such qualification disadvantageous to the Trust.
State Blue Sky Qualification. The Fund will be responsible for ensuring that any notices or filings are made, that are necessary for the purposes of achieving an exemption from registration of the Interests under the Blue Sky Laws as may be applicable in connection with the transactions contemplated by this Agreement, including the filing of documents with the SEC and relevant states. The Fund will furnish any required consent to service of process in connection therewith. The Fund shall advise Placement Agent from time to time concerning the states and other jurisdictions in which solicitations of Eligible Investors by or on behalf of the Fund may be made under the applicable Blue Sky Laws. Upon request by Placement Agent, the Fund shall provide evidence of qualification of Interests in each applicable state or jurisdiction. The Fund shall ensure that any individual who solicits Eligible Investors in the Fund is appropriately licensed or registered in the appropriate jurisdictions before any solicitation is made in such jurisdiction.
State Blue Sky Qualification. At your request, the Fund will take such steps as may be necessary and feasible to qualify Shares for sale in states, territories or dependencies of the United States, the District of Columbia, the Commonwealth of Puerto Rico and any other United States territories, in accordance with the laws thereof, and to renew or extend any such qualification; provided, however, that the Fund will not be required to qualify Shares or to maintain the qualification of Shares in any jurisdiction where it deems such qualification disadvantageous to the Fund. In the event that the Fund determines that qualification of Shares to be disadvantageous, it will promptly provide notice of such determination to you. You shall not be obligated to register, or maintain an existing registration, as a broker or dealer under the blue sky laws of any jurisdiction when you determine it would be uneconomical for you to do so, provided that you shall register, or maintain an existing registration, as a broker or dealer under the blue sky laws of any jurisdiction where such registration is required to offer and sell the Shares.
State Blue Sky Qualification. The Fund, in consultation with the Adviser, will be responsible for ensuring that any notices or filings that are necessary for the purposes of achieving an exemption from registration of the Shares under the Blue Sky Laws as may be applicable in connection with the transactions contemplated by this Agreement, are made, including the filing of documents with the SEC and relevant states. The Fund, with the assistance of the Adviser, will furnish any required consent to service of process in connection therewith. The Adviser shall advise Placement Agent from time to time concerning the states and other jurisdictions in which solicitations of Eligible Investors by or on behalf of the Fund may be made under the applicable Blue Sky Laws. Upon request by Placement Agent, the Adviser shall provide evidence of qualification of Shares in each applicable state or jurisdiction. The Adviser shall ensure that any individual who solicits Eligible Investors in the Fund is appropriately licensed or registered in the appropriate jurisdictions before any solicitation is made in such jurisdiction.