Common use of Revocable Trusts Clause in Contracts

Revocable Trusts. Can the trust be amended or revoked at any time by its grantors: Yes o No o If yes, please answer the following questions relating to each grantor (please add sheets if necessary): Grantor Name: _________________________ Net worth of grantor (including spouse, if applicable), including home, home furnishings and automobiles exceeds $1,000,000? Yes o No o Income (exclusive of any income attributable to spouse) was in excess of $200,000 for 2006 and 2007 and is reasonably expected to be in excess of $200,000 for 2008? Yes o No o Income (including income attributable to spouse) was in excess of $300,000 for 2006 and 2007 and is reasonably expected to be in excess of $300,000 for 2008? Yes o No o

Appears in 3 contracts

Sources: Securities Purchase Agreement (Red Metal Resources, Ltd.), Securities Purchase Agreement (Zoom Technologies Inc), Securities Purchase Agreement (Zoom Technologies Inc)

Revocable Trusts. Can the trust be amended or revoked at any time by its grantors: Yes o No o If yes, please answer the following questions relating to each grantor (please add sheets if necessary): Grantor Name: _________________________ Net worth of grantor (including spouse, if applicable), including home, home furnishings and automobiles exceeds $1,000,000? Yes o No o OR Income (exclusive of any income attributable to spouse) was in excess of $200,000 for 2006 and 2007 and is reasonably expected to be in excess of $200,000 for 2008? Yes o No o OR Income (including income attributable to spouse) was in excess of $300,000 for 2006 and 2007 and is reasonably expected to be in excess of $300,000 for 2008? Yes o No o

Appears in 2 contracts

Sources: Securities Purchase Agreement (Red Metal Resources, Ltd.), Securities Purchase Agreement (Gulf Resources, Inc.)

Revocable Trusts. Can the trust be amended or revoked at any time by its grantors: Yes o No o If yes, please answer the following questions relating to each grantor (please add sheets if necessary): Grantor Name: _________________________ Net worth of grantor exceeds $1,000,000 (including spouse, if applicable, real estate (excluding personal residence), including homeautomobiles, home furnishings cash, short-term investments, stock and automobiles exceeds $1,000,000securities. Equity in personal property and real estate should be based on the fair market value of such property less debt secured by such property) ? Yes o No o Income (exclusive of any income attributable to spouse) was in excess of $200,000 for 2006 2010 and 2007 2011 and is reasonably expected to be in excess of $200,000 for 20082012? Yes o No o Income (including income attributable to spouse) was in excess of $300,000 for 2006 2010 and 2007 2011 and is reasonably expected to be in excess of $300,000 for 20082012? Yes o No o

Appears in 2 contracts

Sources: Common Stock Purchase Agreement (Worthington Energy, Inc.), Note and Warrant Purchase Agreement (Worthington Energy, Inc.)

Revocable Trusts. Can the trust be amended or revoked at any time by its grantors: Yes o No o If yes, please answer the following questions relating to each grantor (please add sheets if necessary): Grantor Name: _________________________ Net worth of grantor (including spouse, if applicable), including home, home furnishings and automobiles exceeds $1,000,000? Yes o No o OR Income (exclusive of any income attributable to spouse) was in excess of $200,000 for 2006 and 2007 the prior two taxable years and is reasonably expected to be in excess of $200,000 for 2008the current taxable year? Yes o No o OR Income (including income attributable to spouse) was in excess of $300,000 for 2006 and 2007 the prior two taxable years and is reasonably expected to be in excess of $300,000 for 2008the current taxable year? Yes o No o

Appears in 2 contracts

Sources: Subscription Agreement (Cardima Inc), Subscription Agreement (Cardima Inc)

Revocable Trusts. Can the trust be amended or revoked at any time by its grantors: Yes o No o If yes, please answer the following questions relating to each grantor (please add sheets if necessary): Grantor Name: _________________________ Net worth of grantor (including spouse, if applicable), including home, home furnishings and automobiles exceeds excluding the value of your primary residence $1,000,000? Yes o No o OR Income (exclusive of any income attributable to spouse) was in excess of $200,000 for 2006 2011 and 2007 2012 and is reasonably expected to be in excess of $200,000 for 20082013? Yes o No o OR Income (including income attributable to spouse) was in excess of $300,000 for 2006 2011 and 2007 2012 and is reasonably expected to be in excess of $300,000 for 20082013? Yes o No o

Appears in 1 contract

Sources: Securities Purchase Agreement (United States Antimony Corp)

Revocable Trusts. Can the trust be amended or revoked at any time by its grantors: Yes o No o If yes, please answer the following questions relating to each grantor (please add sheets if necessary): Grantor Name: _________________________ Net worth of grantor (including spouse, if applicable), including home, home furnishings and automobiles exceeds $1,000,000? Yes o No o Income (exclusive of any income attributable to spouse) was in excess of $200,000 for 2006 and 2007 and is reasonably expected to be in excess of $200,000 for 2008? Yes o No o Income (including income attributable to spouse) was in excess of $300,000 for 2006 and 2007 and is reasonably expected to be in excess of $300,000 for 2008? Yes o No o

Appears in 1 contract

Sources: Securities Purchase Agreement

Revocable Trusts. Can the trust be amended or revoked at any time by its grantors: Yes o No o If yes, please answer the following questions relating to each grantor (please add sheets if necessary): Grantor Name: _________________________ Net worth of grantor (including spouse, if applicable), including home, home furnishings and automobiles exceeds $1,000,000? Yes o No o Income (exclusive of any income attributable to spouse) was in excess of $200,000 for 2005 and 2006 and 2007 and is reasonably expected to be in excess of $200,000 for 20082007? Yes o No o Income (including income attributable to spouse) was in excess of $300,000 for 2005 and 2006 and 2007 and is reasonably expected to be in excess of $300,000 for 20082007? Yes o No o

Appears in 1 contract

Sources: Subscription Agreement (Geeks on Call Holdings, Inc.)

Revocable Trusts. Can the trust be amended or revoked at any time by its grantors: Yes o 🞏 No o 🞏 If yes, please answer the following questions relating to each grantor (please add sheets if necessary): Grantor Name: _________________________ Net worth of grantor (including spouse, if applicable), including home, home furnishings and automobiles exceeds $1,000,000? Yes o 🞏 No o 🞏 Income (exclusive of any income attributable to spouse) was in excess of $200,000 for 2006 and 2007 and is reasonably expected to be in excess of $200,000 for 2008? Yes o 🞏 No o 🞏 Income (including income attributable to spouse) was in excess of $300,000 for 2006 and 2007 and is reasonably expected to be in excess of $300,000 for 2008? Yes o 🞏 No o🞏

Appears in 1 contract

Sources: Securities Purchase Agreement

Revocable Trusts. Can the trust be amended or revoked at any time by its grantors: Yes o No o If yes, please answer the following questions relating to each grantor (please add sheets if necessary): Grantor Name: _________________________ Net worth of grantor (including spouse, if applicable), including home, home furnishings and automobiles exceeds $1,000,000? Yes o No o OR Income (exclusive of any income attributable to spouse) was in excess of $200,000 for 2006 2009 and 2007 2010 and is reasonably expected to be in excess of $200,000 for 20082011? Yes o No o Income (including income attributable to spouse) was in excess of $300,000 for 2006 2009 and 2007 2010 and is reasonably expected to be in excess of $300,000 for 20082011? Yes o No o

Appears in 1 contract

Sources: Securities Purchase Agreement (United States Antimony Corp)

Revocable Trusts. Can the trust be amended or revoked at any time by its grantors: Yes o ¨ No o ¨ If yes, please answer the following questions relating to each grantor (please add sheets if necessary): Grantor Name: _________________________ Net worth of grantor (including spouse, if applicable), including home, home furnishings and automobiles exceeds $1,000,000? Yes o ¨ No o ¨ Income (exclusive of any income attributable to spouse) was in excess of $200,000 for 2006 2011 and 2007 2012 and is reasonably expected to be in excess of $200,000 for 20082013? Yes o ¨ No o ¨ Income (including income attributable to spouse) was in excess of $300,000 for 2006 and 2007 and is reasonably expected to be in excess of $300,000 for 2008? Yes o ¨ No o¨

Appears in 1 contract

Sources: Confidential Subscription Agreement (Xenonics Holdings, Inc.)

Revocable Trusts. Can the trust be amended or revoked at any time by its grantors: Yes o No o If yes, please answer the following questions relating to each grantor (please add sheets if necessary): Grantor Name: _________________________ Net worth of grantor (including spouse, if applicable), including home, home furnishings and automobiles exceeds $1,000,000? Yes o No o Income (exclusive of any income attributable to spouse) was in excess of $200,000 for 2006 2010 and 2007 2011 and is reasonably expected to be in excess of $200,000 for 20082012? Yes o No o Income (including income attributable to spouse) was in excess of $300,000 for 2006 2010 and 2007 2011 and is reasonably expected to be in excess of $300,000 for 20082012? Yes o No o

Appears in 1 contract

Sources: Securities Purchase Agreement (United States Antimony Corp)

Revocable Trusts. Can the trust be amended or revoked at any time by its grantors: Yes o No o If yes, please answer the following questions relating to each grantor (please add sheets if necessary): Grantor Name: _________________________ Net worth of grantor (including spouse, if applicable), including home, home furnishings and automobiles exceeds $1,000,000? Yes o No o Income (exclusive of any income attributable to spouse) was in excess of $200,000 for 2006 2007 and 2007 2008 and is reasonably expected to be in excess of $200,000 for 20082009? Yes o No o Income (including income attributable to spouse) was in excess of $300,000 for 2006 2007 and 2007 2008 and is reasonably expected to be in excess of $300,000 for 20082009? Yes o No o

Appears in 1 contract

Sources: Merger Agreement (Genesis Capital Corp of Nevada)