FINRA Approval. The FINRA Approval shall have been obtained and shall not have been withdrawn, and FINRA has not imposed any FINRA Burdensome Condition for which indemnification pursuant to Article VII would be an inadequate remedy. Notwithstanding the foregoing, Apollo has the right but not the obligation to waive the condition to Closing relating to the receipt of FINRA Approval if (i) at least 35 days have passed since the FINRA Notice was submitted, (ii) all of the other conditions to closing set forth in Article V (subject to the satisfaction or waiver of those conditions that by their terms are to be satisfied by actions taken at the Closing) have been satisfied or waived, and (iii) FINRA has not denied the FINRA Approval or advised that the parties are prohibited from consummating the closing. In the event that Apollo exercises the right set forth in the prior sentence, Sellers shall have the obligation to proceed to Closing on the time frame established by Apollo in its reasonable discretion.
Appears in 4 contracts
Samples: Membership Interest Purchase Agreement (RCS Capital Corp), Membership Interest Purchase Agreement (Apollo Global Management LLC), Membership Interest Purchase Agreement (Apollo Global Management LLC)
