Statutory Disqualification Clause Samples

Statutory Disqualification. A Director may not be subject to a statutory disqualification. A Director who becomes subject to a statutory disqualification shall automatically and immediately be removed from the Board.

Statutory Disqualification. Neither Seller nor any of its officers, directors, controlling persons, employees, representatives, agents, affiliates, or any other person providing Services to Purchaser for or on behalf of Seller hereunder is or shall be during the term of this Agreement subject to statutory disqualification as defined in Section 3(a)(39) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or Rule 506(d) under the Act.

Statutory Disqualification. (a) Neither Purchaser nor any “affiliated person” thereof, as defined in the 1940 Act, (i) is ineligible pursuant to Section 9(a) of the 1940 Act to serve as an investment adviser to or principal underwriter of a registered investment company or (ii) has engaged or is currently engaging in any of the conduct specified in Section 9(b) of the ▇▇▇▇ ▇▇▇. (b) Neither Purchaser nor any “associated person” of Purchaser, as defined in the 1940 Act, is subject to any disqualification that, upon the consummation of the transactions contemplated hereby, would be a basis for censure, denial, suspension or revocation of registration of Purchaser or any Subsidiary as an investment adviser under Section 203(e) of the Advisers Act and there is no reasonable basis for, or proceeding or investigation, whether formal or informal, or whether preliminary or otherwise, that is reasonably likely to form the basis for, any such censure, denial, suspension or revocation. (c) Neither Purchaser nor any “associated person” of Purchaser (i) is subject to a “statutory disqualification,” as such terms are defined in the Exchange Act, or (ii) is subject to a disqualification that, upon the consummation of the transactions contemplated hereby, would be a basis for censure, limitations on the activities, functions or operations of, or suspension or revocation of the registration of Purchaser or any Subsidiary of Purchaser as broker-dealer, municipal securities dealer, government securities broker or government securities dealer under Section 15, Section 15B or Section 15C of the Exchange Act and there is no reasonable basis for, or proceeding or investigation, whether formal or informal, or whether preliminary or otherwise, that is reasonably likely to form the basis for, any such censure, limitations, suspension or revocation. No fact relating to Purchaser or any “control affiliate” thereof, as defined in Form BD, requires any response in the affirmative to any question in Item 11 of Form BD.

Statutory Disqualification. Neither XPO nor any of its officers, directors, controlling persons, employees, representatives, agents, affiliates, or any other person providing Services to MKGI for or on behalf of XPO hereunder is or shall be during the term of this Agreement subject to statutory disqualification as defined in Section 3(a)(39) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or Rule 506(d) under the Act.

Statutory Disqualification. Purchaser is not, nor are any of Purchaser’s Associated Persons, currently subject to a “statutory disqualification” (as such terms are defined in the Exchange Act) and there is no investigation pending or, to the Knowledge of Purchaser, threatened against Purchaser or any of its Associated Persons, whether formal or informal, that is reasonably likely to result in a statutory disqualification, or suspension or revocation of the registration of any Affiliate of the Purchaser as a broker-dealer, municipal securities dealer, government securities broker or government securities dealer under Section 15, Section 15B or Section 15C of the Exchange Act. No fact relating to Purchaser or, to the Knowledge of Purchaser, any “control affiliate” thereof, as defined in Form BD, requires any response in the affirmative to any question in Item 11 of Form BD.

Statutory Disqualification. Neither the Service Provider nor any of his employees, representatives, agents, affiliates, or any other person providing Services to the Company for or on behalf of the Service Provider hereunder is or shall be during the Term subject to statutory disqualification as defined in Section 3(a)(39) of the Exchange Act.

Statutory Disqualification. Such Purchaser is not subject to a statutory disqualification as set forth in Section 3(a)(39) of the Exchange Act.

Statutory Disqualification. Tigress Financial is not, nor are any of Tigress Financial’s Associated Persons, currently subject to a “statutory disqualification” (as such term is defined in the Exchange Act or FINRA’s Bylaws) and there is no investigation pending or, to the Knowledge of Tigress Financial, threatened in writing against Tigress Financial or any of its Associated Persons, that would or would reasonably be expected to result in a statutory disqualification, or suspension or revocation of the registration of any Affiliate of Tigress Financial as a broker-dealer, municipal securities dealer, government securities broker or government securities dealer under Section 15, Section 15B or Section 15C of the Exchange Act. No fact relating to Tigress Financial or, to the Knowledge of Tigress Financial, any “control affiliate” thereof, as defined in Form BD, requires any response in the affirmative to any question in Items 11 of Form BD, which has heretofore not been disclosed.

Statutory Disqualification. None of the Purchaser, Purchaser’s Affiliates or any director, officer or employee of the Purchaser, or Purchaser’s Affiliates that is, in each case, “associated” (as such term is used in Section 3(a)(18) of the Exchange Act) with the Purchaser or Purchaser’s Affiliates, nor, to the knowledge of the Purchaser or any other Person that is so “associated” with the Purchaser or its Affiliates, is subject to potential disqualification pursuant to Section 3(a)(39) of the Exchange Act to serve as a broker-dealer or as a person associated with a broker-dealer or is ineligible to serve as a broker-dealer or an associated person of a broker-dealer pursuant to Section 15(b) of the Exchange Act, and to the knowledge of the Purchaser, there is no Proceeding that is reasonably likely to become the basis for any such disqualification, in each case of this Section 5.4.