Common use of Revocable Trust Clause in Contracts

Revocable Trust. A trust with total assets in excess of $5,000,000 not formed for the specific purpose of acquiring shares of the common stock of the Company, whose purchase of the shares of common stock of the Company is directed by a sophisticated person as described in Rule 506(b)(2)(ii) of Regulation D.

Revocable Trust. A trust with total assets in excess of $5,000,000 not formed for the specific purpose of acquiring shares of the common stock of the Company, that is revocable by its grantors and each of whose purchase of the shares of common stock of the Company grantors is directed by a sophisticated natural person as described in Rule 506(b)(2)(ii) of Regulation D.whose individual net worth, or joint net worth with his or her spouse, exceeds $1 million.