Initial Purchasers Status, Resale Terms Sample Clauses
The "Initial Purchasers Status, Resale Terms" clause defines the legal standing and obligations of the original buyers of securities, as well as the conditions under which they may resell those securities. Typically, this clause clarifies that initial purchasers are acting as investors rather than underwriters and outlines any restrictions or requirements for reselling the securities, such as compliance with securities laws or holding periods. Its core function is to ensure regulatory compliance and to delineate the responsibilities and limitations of initial purchasers, thereby reducing legal risk for both the issuer and the purchasers.
Initial Purchasers Status, Resale Terms. It is a “QIB” (as defined in Rule 144A under the Securities Act) and it will offer the Securities for resale only upon the terms and conditions set forth in this Agreement and in the Time of Sale Document and the Final Offering Memorandum. It is purchasing the Securities pursuant to a private sale exemption from registration under the Securities Act.
Initial Purchasers Status, Resale Terms. It is a QIB and an accredited investor within the meaning of Rule 501(a) of Regulation D under the Securities Act.