Advisor Status Sample Clauses
The Advisor Status clause defines the legal and professional relationship between an advisor and the company, typically clarifying that the advisor is not an employee but rather an independent contractor. This clause often specifies that the advisor is not entitled to employee benefits, tax withholdings, or other rights associated with employment, and may outline the advisor's responsibilities and limitations. Its core function is to prevent misunderstandings about employment status, ensuring both parties are clear on their obligations and reducing the risk of misclassification or related legal issues.
Advisor Status. The Advisor covenants that it will be registered as an investment Advisor under the Advisers Act as of the date the Company commences investment operations and will maintain such registration. The Advisor agrees that its activities will at all times be in compliance in all material respects with all applicable federal and state laws governing its operations and investments.
Advisor Status. At the time the Advisor is paid the Restricted Shares, it will be, and at the date hereof it is, either (A) a “qualified institutional buyer” as defined in Rule 144A(a) under the Securities Act or (B) an “accredited investor” as such term is defined in Rule 501 promulgated under Regulation D of the Securities Act.
Advisor Status. At the time such Advisor was offered the Securities, it was, and as of the date hereof it is, and on each date on which it exercises any stock options, it will be either: (i) an “accredited investor” as defined in Rule 501(a)(1), (a)(2), (a)(3), (a)(7), (a)(8), (a)(9), (a)(12), or (a)(13) under the Securities Act or (ii) a “qualified institutional buyer” as defined in Rule 144A(a) under the Securities Act.