Common use of Entity Purchasers Clause in Contracts

Entity Purchasers. 1. Purchaser is an organization described in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended, a corporation, Massachusetts or similar business trust, or partnership, not formed for the specific purpose of acquiring the Note, with total assets in excess of $5,000,000. 2. Purchaser is a trust, with total assets in excess of $5,000,000, not formed for the specific purpose of acquiring the Note, whose purchase is directed by a sophisticated person as defined in Rule 506(b)(2)(ii) of Regulation D. 3. Purchaser is a private business development company as defined in Section 202(a)(22) of the Investment Advisers Act of 1940. 4. Purchaser is a bank as defined in Section 3(a)(2) of the Securities Act, or a savings and loan association or other institution as defined in Section 3(a)(5)(A) of the Securities Act whether acting in its individual or fiduciary capacity. 5. Purchaser is a broker or dealer registered pursuant to Section 15 of the Securities and Exchange Act of 1934, as amended. 6. Purchaser is an insurance company as defined in Section 2(13) of the Securities Act. 7. Purchaser is an investment company registered under the Investment Company Act of 1940, as amended, or a business development company as defined in Section 2(a)(48) of that Act. 8. Purchaser is a Small Business Investment Company licensed by the U.S. Small Business Administration under Section 301(c) or (d) of the Small Business Investment Act of 1958. 9. Purchaser is a plan established and maintained by a state, its political subdivisions, or any agency or instrumentality of a state or its political subdivisions, for the benefit of its employees, if such plan has total assets in excess of $5,000,000. 10. Purchaser is an employee benefit plan within the meaning of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and one of the following applies: _____ · The investment decision has been made by a plan fiduciary, as defined in Section 3(21) of ERISA, which is either a bank, savings and loan association, insurance company or registered investment adviser; _____ · The employee benefit plan has total assets in excess of $5,000,000; _____ · If a self-directed plan, investment decisions are made solely by persons that are accredited investors and all participants and beneficiaries in such plan are accredited investors (See requirements for individuals below). 11. Purchaser is an entity in which all of the equity owners are accredited investors as defined in Rule 501(a) of Regulation D.