Common use of No Qualification Clause in Contracts

No Qualification. The Investor understands and acknowledges that (i) none of the Shares have been qualified by a prospectus or registration statement or otherwise qualified for sale under the securities laws of any jurisdiction; (ii) absent an exemption from registration or prospectus requirements of applicable Federal and State securities laws of the United States of America, the issuance and sale of the Shares would require the involvement of a registered dealer and the filing of a prospectus and registration statement (if applicable); (iii) the Company is and will be issuing such securities in reliance upon exemptions from the registration and prospectus requirements of such securities laws; and (iv) the availability of such exemptions depends upon, among other things, the Investor's representations, warranties and agreements contained in this Agreement, including, without limitation, the bona fide nature of the investment intent as expressed herein. The Investor further understands and acknowledges that the Company, subject to its obligations under Section 8 hereof, is under no obligation to register or qualify the Shares under any applicable securities law, or to comply with any exemptions under any applicable securities law in connection with any resale of such Shares.