Wefunder definition

Wefunder has opened with the Escrow Agent and will maintain throughout the term of this Agreement a non-interest bearing business checking account for the benefit of Investors to receive funds paid by Investors via Automated Clearing House (“ACH”), check, incoming wire transfer, and credit card ("Omnibus Account") and hold such funds in trust for such Investors. Company understands that funds paid by Investors will be deposited to the Omnibus Account and that funds received from investors of other offerings not related to this Offering will also be maintained in the Omnibus Account, and amounts on deposit in the Ominibus Account will not be invested without the consent of the Company.

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Examples of Wefunder in a sentence

• Pursuant to Section 18-215(b) of the Act and the Operating Agreement, as it may be amended from time to time (the “Master LLC Agreement”) of Wefunder Portfolio, LLC, a Delaware limited liability company (the “Master LLC”), the Master LLC is authorized and empowered to establish separate members and limited liability company interests with separate and distinct rights, powers, duties, obligations, businesses and objectives (each a “Series” ) .

• The Company is offering the Shares to prospective investors through the Wefunder crowdfunding portal (the “Portal”).

• The Investor also acknowledges that an email from the Wefunder Parties may be accessed by recipients other than the Investor and may be interfered with, may contain computer viruses or other defects and may not be successfully replicated on other systems.

• The Investor may request a paper copy of the Investor’s Schedule K-1 by contacting Wefunder Inc.

• The Investor understands that ▇▇▇▇▇▇▇▇ & ▇▇▇▇▇▇▇▇ LLP serves as legal counsel on certain matters to Wefunder, Inc., Wefunder Portal, LLC, Wefunder Admin, LLC and Wefunder Advisors, LLC and not to the SPV or any Investor by virtue of its investment in the SPV, and that no independent counsel has been retained to represent the SPV or Investors in the SPV.

• No Wefunder Party gives any warranties in relation to these matters.

• The Wefunder Parties may rely conclusively upon and shall incur no liability in respect of any action take upon any notice, consent, request, instructions or other instrument believed in good faith to be genuine or to be signed by properly authorized persons of the Investor.

• In the event that Wefunder determines, in good faith, that the Lead Investor has a conflict of interest only with respect to a particular matter or voting decision, Wefunder may require that the Lead Investor submit such voting decision to all Investors.

• Investor further acknowledges that pursuant to the LLC Agreement, Wefunder Admin, LLC (as Series Manager of the SPV), may impose additional restrictions on or prohibit the Transfer of Interests for any reason or no reason, in its sole discretion.

• If Investor seeks to transfer the Interests, Investor shall first give written notice to the Company and Wefunder Admin, LLC, including the number of Interests that Investor desires to transfer, the proposed price, the name and contact information of the proposed buyer, and any other information that the Company or Wefunder Admin, LLC may reasonably request.