Common use of FOR TRUSTS Clause in Contracts

FOR TRUSTS. [ ] it is a trust, and the trustee of the trust is a “bank” (as defined in Section 3(a)(2) of the Securities Act) or a “savings and loan association or other institution” (as defined in Section 3(a)(5)(A) of the Securities Act); [ ] it is a trust, with total assets in excess of $5,000,000 not formed for the specific purpose of acquiring Units, with purchases directed by a sophisticated person as described in Rule 506(b)(2)(ii) of Regulation D of the Securities Act; or [ ] it is a revocable trust, which may be amended or revoked at any time by the grantors thereof and all of the grantors are accredited investors.

FOR TRUSTS. [ ] it is a trust, and the trustee of the trust is a “"bank” " (as defined in Section 3(a)(2) of the Securities Act) or a “"savings and loan association or other institution” " (as defined in Section 3(a)(5)(A) of the Securities Act); [ ] it is a trust, with total assets in excess of $5,000,000 not formed for the specific purpose of acquiring Units, with purchases directed by a sophisticated person as described in Rule 506(b)(2)(ii) of Regulation D of the Securities Act; or [ ] it is a revocable trust, which may be amended or revoked at any time by the grantors thereof and all of the grantors are accredited investors.