Common use of Pennsylvania Clause in Contracts

Pennsylvania. If the Subscriber is a Pennsylvania resident, the following shall apply: Each person who accepts an offer to purchase securities exempted from registration by Section 203(d) of the Pennsylvania Securities Act of 1972, as amended, directly from the issuer or affiliate of the issuer, shall have the right to withdraw his or her acceptance without incurring any liability to the seller, underwriter (if any) or any other person within two business days from the date of receipt by the issuer of his or her written binding contract of purchase or, in the case of a transaction in which there is no binding contract of purchase, within two business days after he or she makes the initial payment for the securities being offered. Each Pennsylvania investor is prohibited from selling his or her Units for a period of twelve months from the date of his or her purchase.

Pennsylvania. If the Subscriber Member is a Pennsylvania resident, the following shall apply: Each person who accepts an offer to purchase securities exempted from registration by Section 203(d) of the Pennsylvania Securities Act of 1972, as amended, directly from the issuer or affiliate of the issuer, shall have the right to withdraw his or her acceptance without incurring any liability to the seller, underwriter (if any) or any other person within two business days from the date of receipt by the issuer of his or her written binding contract of purchase or, in the case of a transaction in which there is no binding contract of purchase, within two business days after he or she makes the initial payment for the securities being offered. Each Pennsylvania investor subscriber is prohibited from selling his or her Units Shares for a period of twelve months from the date of his or her purchase.

Pennsylvania. If the Subscriber Stockholder is a Pennsylvania resident, the following shall apply: Each person who accepts an offer to purchase securities exempted from registration by Section 203(d) of the Pennsylvania Securities Act of 1972, as amended, directly from the issuer or affiliate of the issuer, shall have the right to withdraw his or her acceptance without incurring any liability to the seller, underwriter (if any) or any other person within two business days from the date of receipt by the issuer of his or her written binding contract of purchase or, in the case of a transaction in which there is no binding contract of purchase, within two business days after he or she makes the initial payment for the securities being offered. Each Pennsylvania investor subscriber is prohibited from selling his or her Units Shares for a period of twelve months from the date of his or her purchase.