Common use of Transaction Restrictions Clause in Contracts

Transaction Restrictions. The Investor understands and ------------------------ acknowledges that the Securities have not been and will not be registered under the Securities Act and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons except in accordance with Regulation S under the Securities Act or pursuant to an exemption from the registration requirements of the Securities Act. Investor represents that, until 40 days after the later of the commencement of the offering and the Closing Date, it will offer or sell the Securities only in accordance with Rule 903 of Regulation S under the Securities Act. Accordingly, the Investor represents, warrants and covenants that it is not a U.S. person and neither it, its affiliates nor any persons acting on its behalf have engaged or will engage in any directed selling efforts in the United States with respect to the Securities, and it and they have complied and will comply with the offering restrictions requirement of Regulation S. Terms used in this paragraph 4 have the meaning given to them by Regulation S.

Transaction Restrictions. The Investor understands and ------------------------ acknowledges that the Securities have not been and will not be registered under the Securities Act and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons except in accordance with Regulation S under the Securities Act or pursuant to an exemption from the registration requirements of the Securities Act. Investor represents that, until 40 days after the later of the commencement of the offering and the Closing Date, it will offer or sell the Securities only in accordance with Rule 903 of Regulation S under the Securities Act. Accordingly, the Investor represents, warrants and covenants that it is not a U.S. person and neither it, its affiliates nor any persons acting on its or their behalf have engaged or will engage in any directed selling efforts in the United States with respect to the Securities, and it and they have complied and will comply with the offering restrictions requirement of Regulation S. Terms used in this paragraph 4 have the meaning meanings given to them by Regulation S.