Common use of Purpose of Investment Clause in Contracts

Purpose of Investment. Except as permitted pursuant to Section 10.10(b), the Investor is acquiring the Series A Preferred Stock under this Agreement for its own accounts solely for the purpose of investment and not with a view to, or for sale in connection with, any distribution thereof in violation of the Securities Act. The Investor acknowledges that the Series A Preferred Stock, the Conversion Shares, the Notes, the Warrants and the Warrant Shares have not been registered under the Securities Act and may be sold or disposed of in the absence of such registration only pursuant to an exemption from the registration requirements of the Securities Act.