Each of National Discount Brokers Corporation and NDB Capital Markets Corporation Sample Clauses

Each of National Discount Brokers Corporation and NDB Capital Markets Corporation is registered as a broker-dealer with the Commission, is a duly qualified member of the NASD and is duly qualified or registered as a broker-dealer in each jurisdiction where the failure to be so qualified or registered is reasonably likely to have a Material Adverse Effect. Neither the Company nor any of the Principal Subsidiaries is not registered or qualified as a broker-dealer with the Commission or in any jurisdiction where the failure to be so registered or qualified is reasonably likely to result in a Material Adverse Effect. Except as set forth on Schedule 2.15(b), the applications for which are being diligently prosecuted, neither the Company nor any Principal Subsidiary is required to obtain any registration as an investment adviser, a commodity trading advisor, a commodity pool operator, a futures commission merchant, an insurance agent, a sales person or in any similar capacity with the Commission, the NASD, the Commodity Futures Trading Commission, any clearing agency, or any securities commission or self-regulatory organization in the United States, that has not been obtained or is not in full force and effect, nor has the Company or any such Subsidiary received notice of any requirement to register as any of the foregoing in any jurisdiction outside the United States, where the failure to obtain such registration would be reasonably likely to have a Material Adverse Effect.