Common use of Securities Regulation Clause in Contracts

Securities Regulation. (a) It acknowledges and agrees that the Membership Interest is being issued and sold in reliance on the exemption from registration contained in Section 4(2) of the Securities Act and exemptions contained in applicable state securities laws, and that it cannot and will not be sold or transferred except in a transaction that is exempt under the Securities Act and those state acts or pursuant to an effective registration statement under those acts or in a transaction that is otherwise in compliance with the Securities Act and those state acts.

Securities Regulation. (a) It Such Member acknowledges and agrees that the Membership such Member’s Interest is being issued and sold in reliance on the exemption from registration contained in Section 4(2) of under the Securities Act and exemptions contained in applicable state securities laws, and that it such Member’s Interest cannot and will not be sold or transferred except in a transaction that is exempt under the Securities Act and those applicable state acts securities laws or pursuant to an effective registration statement under those acts or in a transaction that is otherwise in compliance with the Securities Act and those applicable state actssecurities laws.