Verification of Status as an “Accredited Investor”
In order for the Fund to offer and sell the Limited Partner Interests in conformity with state and federal securities laws, the following information must be obtained regarding your status as an “Accredited Investor.”
If an individual, check each category that is applicable:
- The Investor is a natural person whose net worth, either individually or jointly with such Investor’s spouse, exceeds $1,000,000;
- The Investor is a natural person who had an income in excess of $200,000, or joint income with such Investor’s spouse in excess of $300,000, in each of the last two years and reasonably expects to have individual income reaching the same level in the current year;
- The Investor is a director, executive officer or manager of the General Partner or executive officer of the Fund.
- None of the above.
The term “net worth” means the excess of total assets over total liabilities. In calculating “net worth,” the undersigned may include the estimated fair market value of the Investor’s principal residence as an asset.
In determining individual “income,” the Investor should (i) add to the Investor’s individual adjusted gross income (exclusive of any spousal income) any amounts attributable to tax exempt income received, losses claimed as a member in any limited partnership, deductions claimed for depletion, contributions to an IRA or Keogh retirement plan to the extent vested, alimony payments, and any amount by which income from long-term capital gains has been reduced in arising at adjusted gross income and (ii) subtract from the Investor’s individual adjusted gross income any unrealized capital gain.
If not an individual, please check each category that is applicable:
The Investor is a bank as defined in Section 3(a)(2) of the Securities Act, or a savings and loan association or other institution as defined in Section 3(a)(5)(A) of the Securities Act, whether acting in its individual or fiduciary capacity;
- The Investor is a broker or dealer registered pursuant to Section 15 of the Securities Exchange Act of 1934, as amended;
- The Investor is an insurance company as defined in Section 2(a)(13) of the Securities Act;
- The Investor is an investment company registered under the Investment Company Act of 1940, as amended, or a business development company as defined in Section 2(a)(48) of the Investment Company Act of 1940, as amended;
- The Investor is a Small Business Investment Company licensed by the U.S. Small Business Administration under Section 301(c) or (d) of the Small Business Investment Act of 1958, as amended;
- The Investor is a plan established and maintained by a state, its political subdivisions, or any agency or instrumentality of a state or its political subdivisions, for the benefit of its employees, and such plan has total assets in excess of $5,000,000;
- The Investor is an employee benefit plan within the meaning of the Employee Retirement Income Security Act of 1974, and (i) the investment decision is made by a plan fiduciary, as defined in Section 3(21) of such Act, which is either a bank savings and loan association, insurance company, or registered investment advisor, or (ii) the employee benefit plan has total assets in excess of $5,000,000 or (iii) if a self-directed plan, the investment decisions are made solely by persons that are accredited investors;
- The Investor is a private business development company as defined in Section 202(a)(22) of the Investment Advisers Act of 1940, as amended;
- The Investor (i) is either a corporation, a partnership, a limited liability company, an organization described in Section 501(c)(3) of the Internal Revenue Code, or a Massachusetts or similar business trust, (ii) has not formed for the specific purpose of acquiring the Limited Partner Interests and (iii) has total assets in excess of $5,000,000;
- The Investor is a manager or executive officer of the General Partner;
- The Investor is a trust, with total assets in excess of $5,000,000, not formed for the specific purpose of acquiring the Limited Partner Interests, whose purchase is directed by a sophisticated person who has such knowledge and experience in financial and business matters that such person is capable of evaluating the merits and risks of investing in the Fund;
- The Investor is an entity in which all of the equity owners qualify under any of the above categories (including the categories for individuals listed in the immediately proceeding page). If the undersigned belongs to this category only, list the equity owners of the undersigned, and the category that each such equity owner satisfies.