Knowledgeable Purchaser. Each Texoil Entity is a knowledgeable purchaser, owner and operator of oil and gas properties, has the ability to evaluate (and in fact has evaluated) the Properties for purchase, and is acquiring the Properties for its own account and not with the intent to make a distribution within the meaning of the Securities Act of 1933 (and the rules and regulations pertaining thereto) or a distribution thereof in violation of any other applicable securities laws.
Appears in 2 contracts
Sources: Acquisition and Distribution Agreement (Encap Investments L C), Acquisition and Distribution Agreement (Texoil Inc /Nv/)