Common use of Acknowledgment Regarding Buyer’s Status Clause in Contracts

Acknowledgment Regarding Buyer’s Status. Each of the Company and the Issuer acknowledge and agree that the Buyer is acting solely in the capacity of arm’s length purchaser with respect to the Transaction Documents and the transactions contemplated hereby and thereby. Each of the Company and the Issuer further acknowledges that the Buyer is not acting as a financial advisor or fiduciary of the Company or the Issuer (or in any similar capacity) with respect to the Transaction Documents and the transactions contemplated hereby and thereby and any advice given by the Buyer or any of its representatives or agents in connection with the Transaction Documents and the transactions contemplated hereby and thereby is merely incidental to the Buyer’s subscription for the Securities. Each of the Company and the Issuer further represents to the Buyer that the Company’s and the Issuer’s decision to enter into the Transaction Documents has been based solely on the independent evaluation by the Company, the Issuer and their representatives and advisors.