To Be Purchased Entirely For Beneficiary’s Own Account Clause Samples

To Be Purchased Entirely For Beneficiary’s Own Account. This Agreement is made with such Lender in reliance upon such Lender’s representation to the Corporation, which, by such Lender’s execution of this Agreement, such Lender hereby confirms, that the Common Stock to be purchased by such Lender and any securities issuable upon conversion thereof (such Common Stock and securities issuable upon conversion thereof being, collectively, the “Securities”) are being and will be issued to Beneficiary for investment for such Beneficiary’s own account, not as nominee or agent, and not with a view to the resale or distribution of any part thereof, and that neither such Beneficiary nor any of its officers, members, managers or representatives with the authority, responsibility or power to make a decision with regard to the purchase or sale of the Securities or any portion thereof (collectively, such “Beneficiary’s Representatives”) has any present intention of selling, granting any participation in or otherwise distributing the same. Such Beneficiary and such Beneficiary’s Representatives are familiar with the phrase “acquired for investment and not with a view to distribution” as it relates to the Securities Act of 1933, as amended (the “Securities Act”) and state securities laws and the special meaning given to such term by the Securities and Exchange Commission (the “SEC”). By executing this Agreement, such Beneficiary further represents that such Beneficiary does not have any contract, undertaking, agreement or arrangement with any person to sell, transfer or grant participations to such person or to any third person, with respect to any of the Securities.