Qualification Rights Clause Samples

The Qualification Rights clause defines the conditions under which a party is permitted to participate in certain activities or receive specific benefits, typically in the context of investments or shareholder agreements. This clause often outlines the criteria an investor must meet—such as holding a minimum number of shares or meeting certain financial thresholds—to qualify for rights like participating in future funding rounds or accessing company information. Its core practical function is to ensure that only parties who meet predefined standards are granted particular privileges, thereby protecting the interests of the company and managing access to sensitive opportunities or information.
Qualification Rights. Masterworks will have the right to request that the Company qualify on Form 1-A, or a comparable form, the resale of any Class A shares beneficially owned by Masterworks or any entity administered by Masterworks. There are no limitations or restrictions on the size or frequency of such qualification requests, other than pursuant to applicable law, provided, that all costs associated with any such qualification shall be the responsibility of Masterworks.
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Qualification Rights. Any Affiliate of the Administrator will have the right to request that the Company qualify on Form 1-A, or a comparable form, the resale of any Class A shares beneficially owned by such Affiliate. There are no limitations or restrictions on the size or frequency of such qualification requests, other than pursuant to applicable law, provided, that all costs associated with any such qualification shall be the responsibility of the requesting party.
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Qualification Rights. (a) The Company agrees to prepare and file with the SEC, not earlier than the 370th day following the Issuance Date and not later than 60 business days following the date that is 370 days following the Issuance Date, an Offering Statement on Form 1-A, or, in the discretion of the Company, such offering document as may then be required to be filed with the SEC to seek an exemption pursuant to Section 3(b)(2) of the Act (any of the foregoing, an “Offering Statement”) with respect to the Issuable Shares and will use commercially reasonable efforts to cause such Offering Statement to be declared qualified by the SEC as soon as practicable thereafter. (b) The Company shall use commercially reasonable efforts to keep the Offering Statement continuously qualified for the period beginning on the date on which the Offering Statement is declared qualified and ending on the Expiration Date. During the period that the Offering Statement is qualified, the Company shall supplement or make amendments to the Offering Statement, as required by the Act or other law, and shall use its commercially reasonable efforts to have such supplements and amendments declared qualified, if required, as soon as practicable after filing. (c) The Company shall use its commercially reasonable efforts to register or qualify all Issuable Shares under the securities or “blue sky” laws of the state of the Holder’s residence as of the date of qualification of the Offering Statement or as soon as practicable thereafter, but only to the extent legally required to do so, and shall use its commercially reasonable efforts to keep such registration or qualification in effect for so long as the Offering Statement remains qualified with the SEC. (d) Notwithstanding the provisions of subsections (a) — (c) of this Section 4: (i) the Company shall have no obligation to file or seek qualification of an Offering Statement with SEC if, on or prior to the 370th day following the Issuance Date, the Company has determined, upon the opinion of counsel, that another exemption or exception from registration under the Act is applicable to the issuance of the Issuable Shares; and (ii) the Company shall have no obligation to register or qualify the Issuable Shares under the securities or “blue sky” laws of the state of the Holder’s residence if, on or prior to the 370th day following the Issuance Date, the Company has determined, upon the opinion of counsel, that another exemption or exception from registration or qua...
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Qualification Rights. Provided ▇▇ ▇▇▇▇▇▇’▇ Ownership Interest is at least ten percent (10%), La Mancha and its affiliates shall have the following resale qualification rights with respect to (i) Voting Shares or (ii) Convertible Securities
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Qualification Rights. ‌ Subject to Article 4 and provided ▇▇ ▇▇▇▇▇▇ holds at least 10% of the outstanding Voting Shares, ▇▇ ▇▇▇▇▇▇ shall have the following resale qualification rights with respect to Voting Shares:
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Qualification Rights 
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Related to Qualification Rights

  • Qualification of Shares The Company will arrange, if necessary, for the qualification of the Shares for sale under the laws of such jurisdictions as the Manager may designate and will maintain such qualifications in effect so long as required for the distribution of the Shares; provided that in no event shall the Company be obligated to qualify to do business in any jurisdiction where it is not now so qualified or to take any action that would subject it to service of process in suits, other than those arising out of the offering or sale of the Shares, in any jurisdiction where it is not now so subject.

  • Qualification and Good Standing Each Loan Party is qualified to do business and in good standing in every jurisdiction where its assets are located and wherever necessary to carry out its business and operations, except in jurisdictions where the failure to be so qualified or in good standing has not had and will not have a Material Adverse Effect.