A simpler method of dealing with this data is to use split to break the entire document into a string array.
Code:
Sub Macro2()
Dim arrClauses() As String, i As Integer
arrClauses = Split(ActiveDocument.Range.Text, "#")
For i = 1 To UBound(arrClauses) 'intentionally excludes entry before first #
MsgBox arrClauses(i)
Next i
End Sub