Of course legal counsel and modification is advised. But which jurisdiction is the template based on?
The PACT template is generally based on US jurisdiction, as it includes references to the Securities Act of 1933 and accredited investors, which are crucial for compliance with US securities laws. For use in Europe, it would need to be modified to align with local regulations, as the template does not specifically cater to European general solicitation laws. Legal counsel should be consulted for jurisdiction-specific modifications.