Units are Restricted Securities. The Member understands that the Units are a “restricted security” under the Securities Act of 1933 in that the Units will be acquired from the Company in a transaction not involving a public offering, and that the Units may be resold without registration under the Securities Act of 1933 only in certain limited circumstances and that otherwise the Units must be held indefinitely.
Units are Restricted Securities. The Units have not been registered under the Securities Act of 1933 as amended (“Securities Act”) under the securities laws of any state, and may not be offered, sold, pledged, hypothecated or otherwise transferred unless and until registered under the Securities Act or, in the opinion of counsel in form and substance satisfactory to the Company, such offer, sale pledge, hypothecation or transfer is in compliance therewith.
Units are Restricted Securities. The Interest Holder understands that its Units are “restricted securities” under the Securities Act in that the Units will be acquired from the Company in a transaction not involving a public offering, that its Units may be resold without registration under the Securities Act only in certain limited circumstances and that otherwise its Unit must be held indefinitely.
