Specified Laws. Neither the Company nor any agent acting on its behalf will take any action which could reasonably be expected to cause this Agreement or the Notes to violate Regulation U, Regulation T or any other regulation of the Board of Governors of the Federal Reserve System or to violate the Exchange Act, in any case as in effect now or as the same may hereafter be in effect. At no time shall more than twenty-five percent (25%) of the Company’s Consolidated Assets subject to the restrictions set forth in paragraph 6(C)(1) be represented by “margin stock”, as such term is defined in Regulation U.
Appears in 2 contracts
Sources: Note Purchase and Private Shelf Agreement (Stanley Furniture Co Inc.), Note Purchase and Private Shelf Agreement (Stanley Furniture Co Inc.)