Common use of Acceptance of Subscription and Issuance of Securities Clause in Contracts

Acceptance of Subscription and Issuance of Securities. It is understood and agreed that the Company shall have the right, at its sole and absolute discretion, to accept or reject this subscription, in whole or in part, for any reason and that the subscription is further subject to the conditions set forth in clause (ii) of the preamble paragraph hereof. Subscriptions need not be accepted in the order received, and the Units may be allocated among subscribers in the Company’s sole and absolute discretion. Notwithstanding anything in this Subscription Agreement to the contrary, the Company shall have no obligation to issue any of the Units to any person who is a resident of a jurisdiction in which the issuance of Securities to him, her or it would constitute a violation of the securities, “blue sky” or other similar laws of such jurisdiction (collectively referred to as the “State Securities Laws”).

Acceptance of Subscription and Issuance of Securities. It is understood and agreed that the Company shall have the sole right, at its sole and absolute complete discretion, to accept or reject this subscription, in whole or in part, for any reason and that the subscription same shall be deemed to be accepted by the Company only when it is further subject signed by a duly authorized officer of the Company and delivered to the conditions set forth in clause (ii) of the preamble paragraph hereofundersigned. Subscriptions need not be accepted in the order received, and the Units Securities may be allocated among subscribers in the Company’s sole and absolute discretionsubscribers. Notwithstanding anything in this Subscription Agreement to the contrary, the Company shall have no obligation to issue any of the Units Securities to any person who is a resident of a jurisdiction in which the issuance of Securities to him, her or it such person would constitute a violation of the securities, “blue sky” or other similar laws of such jurisdiction (collectively referred to as the “State Securities Laws”).