Net Capital. You represent that you, and we represent that we, are in compliance with the capital requirements of Rule 15c-3-1 promulgated by the Commission under the Securities and Exchange Act of 1934, and we may, in accordance with and pursuant to such Rule 15c-3-1, agree to purchase the amount of Units to be purchased by you and us, respectively, under the Agreement.
Net Capital. The incurrence by us of our obligations hereunder and under the Purchase Agreement in connection with the offering of the Securities will not place us in violation of the net capital requirements of Rule 15c3-1 under the 1934 Act, or, if we are a financial institution subject to regulation by the Board of Governors of the Federal Reserve System, the Comptroller of the Currency or the Federal Deposit Insurance Corporation, will not place us in violation of the capital requirements of such regulator or any other regulator to which we are subject.
Net Capital. The Borrower will not permit the Broker Subsidiary to allow any month-end Net Capital Ratio to be less than 5%.
Net Capital. The incurrence by us of our obligations hereunder ----------- and under the Underwriting Agreement in connection with the offering of the Securities will not place us in violation of the capital requirements of Rule 15c3-1 under the 0000 Xxx.
Net Capital. We represent that the incurrence by us of our obligations hereunder in connection with the offering of the Securities will not place us in violation of Rule 15c3-1 under the Exchange Act, or of any similar provisions of any applicable rules or regulations of any other regulatory authority or self-regulatory organization.
Net Capital. The Broker/Dealer operates under paragraph (a)(1)(ii) of the Rule for the computation of its Net Capital.
Net Capital. The Borrower will not permit the Broker Subsidiary to allow (a) the average of two consecutive month-end Net Capital Ratios to be less than 7%, or (b) any month-end Net Capital Ratio to be less than 5%. The Borrower similarly will not permit SCM to allow (i) the average of two consecutive month-end Net Capital Ratios to be less than 7%, or (ii) any month-end Net Capital Ratio to be less than 5%.
Net Capital. You represent that the incurrence by you of your obligations hereunder in connection with the offering of the Securities will not place you in violation of Rule 15c3-1 under the 1934 Act, if such requirements are applicable to you, or, if you are a financial institution subject to regulation by the Board of Governors of the Federal Reserve System, the Comptroller of the Currency or the Federal Deposit Insurance Corporation, will not place you in violation of the capital requirements of such regulator or any other regulator to which you are subject.
Net Capital. We represent that the incurrence by us of our obligations hereunder in connection with the offering of the Securities will not result in a violation of Rule 15c3-1 under the Exchange Act, or of any similar provision of any applicable rules of any securities exchange to which we are subject or of any restriction imposed on us by any such exchange or any governmental authority.
Net Capital. The Company will maintain at all times Net Capital of not less than 10% of Aggregate Debit Items as determined as of the close of each Business Day.
