Basic Transaction Closing Sample Clauses

Basic Transaction Closing. 2.1 Transfer of Registered Representatives 2.1.1 Set forth on Schedule 2.2.1a is a listing of all of the registered representatives of Legacy as of the date hereof (the “Legacy Registered Representatives”). Upon the terms and subject to the conditions of this Agreement, the Legacy Parties shall take all reasonable action requested by Multi-Financial to promptly (A) facilitate the transfer on the records of the National Association of Securities Dealers (“NASD”) to Multi-Financial of the registrations of the Legacy Registered Representatives selected by Multi-Financial in its sole discretion (the "Transferred Representatives") and (B) facilitate the transfer on the records of the insurance companies to Multi-Financial of the appointments of the Transferred Representatives. The Legacy Parties acknowledge and agree that Multi-Financial will conduct reviews on each Legacy Registered Representative as required by NASD Rules, and may, in its sole discretion, reject any Legacy Registered Representative for any reason or may require any Transferred Representative to be placed under heightened supervision. Those Legacy Registered Representatives whose registrations and appointments are not being transferred to Multi-Financial are set forth in Schedule 2.1.1b, to the extent known as of the Transfer Date (as defined below) of this Agreement (“Excluded Representatives”). Such list may be amended by Multi-Financial in its sole discretion until the Transfer Date, after which it may only be amended by agreement among the parties.