Common use of CMA Clause in Contracts

CMA. Within twenty (20) Business Days following the Initial Closing, the Parties shall give written notice to FINRA in the form of a CMA of the proposed change in ownership of more than 25% of the Company as set forth in this Agreement. The CMA will be written by Seller, reviewed and approved by Purchaser and Company and submitted to FINRA by the Company. Purchaser and Seller, with the assistance of Company, will take all reasonable and necessary actions to prepare all necessary documentation in connection with the CMA including a copy of this Agreement, if so required, a description of the Transactions; a proposed amended Form B/D, indicating the proposed change in ownership and control of Company and listing the new officers and directors, including specifically appropriate disclosure of the resignation of the present licensed persons from association with Company; a proposed organizational chart, proposed written supervisory procedures, a business plan, as well as such biographical, regulatory and financial documentation as may be required in accordance with Rule 1017 of the FINRA rules.