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.
Appears in 2 contracts
Sources: Limited Liability Company Operating Agreement (Masterworks 005, LLC), Limited Liability Company Operating Agreement (Masterworks 004, LLC)
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 ordinary 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.
Appears in 2 contracts
Sources: Limited Liability Company Operating Agreement (Masterworks 002, LLC), Limited Liability Company Operating Agreement (Masterworks 002, LLC)