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.
Appears in 4 contracts
Samples: Limited Liability Company Operating Agreement, Operating Agreement, Operating Agreement
