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 *The applicant is an “Accredited Investor” for one or more of the following reasons:

The applicant is an individual (not a partnership, corporation, etc.) whose individual net worth, or joint net worth with his or her spouse, presently exceeds $1,000,000;

The applicant is an individual (not a partnership, corporation, etc.) who had an individual income in excess of $200,000 in each of the two most recent years, or joint income with their spouse in excess of $300,000 in each of those years, and has a reasonable expectation of reaching the same income level in the current year;

The applicant is a corporation, partnership, Massachusetts or similar business trust or nonprofit organization within the meaning of section 501(c)(3) of the Internal Revenue Code, in each case not formed for the specific purpose of acquiring the membership and with total assets in excess of $5,000,000;

The applicant is a trust with total assets in excess of $5,000,000, not formed for the specific purpose of acquiring the membership, where the purchase is directed by a person with such knowledge and experience in financial and business matters that such person is capable of evaluating the merits and risks of the proposed investment.

The applicant is an entity, all the equity owners of which are “accredited investors” within one or more of the above categories.