Common use of Statutory Disqualification Clause in Contracts

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.