Margin Regulation. Margin stock (as defined in Regulation U) constitutes less than 25% of the value of those assets of the Borrower and its Subsidiaries (other than any Subsidiary which is an “exempted borrower” within the meaning of Regulation U) which are subject to any limitation on sale, pledge or other restriction hereunder.
Appears in 5 contracts
Samples: Credit Agreement (Piper Sandler Companies), Credit Agreement (Piper Sandler Companies), Credit Agreement (Piper Sandler Companies)
