Common use of Private Offering by Borrower Clause in Contracts

Private Offering by Borrower. Assuming that the Banks are acquiring the Notes for investment purposes only, and not for purposes of resale or distribution thereof except for assignments or participations as provided in Sections 10.13 and 10.14, no registration of the Notes under the Securities Act of 1933, as amended, or under the securities laws of the State of Texas or New York is required in connection with the offering, issuance and sale of the Notes hereunder. Neither Borrower nor anyone acting on its behalf has taken, or will take, any action which would subject the issuance or sale of the Notes to Section 5 of the Securities Act of 1933, as amended.

Private Offering by Borrower. Assuming that the Banks are each Lender is acquiring the its Notes for investment purposes only, and not for purposes of resale or distribution thereof except for assignments or participations as provided in Sections 10.13 9.13 and 10.149.14, no registration of the such Notes under the Securities Act of 1933, as amended, or under the securities laws of the State States of Texas Texas, Minnesota or New York is required in connection with the offering, issuance and sale of the such Notes hereunder. Neither No Borrower nor Party or anyone acting on its behalf has taken, or will take, any action which would subject the issuance or sale of the any Notes to Section 5 of the Securities Act of 1933, as amended.