Common use of Net Capital Clause in Contracts

Net Capital. We represent that the incurrence by us of our obligations hereunder in connection with the offering of the Securities will not place us in violation of Rule 15c3-1 under the Exchange Act, or of any similar provisions of any applicable rules or regulations of any other regulatory authority or self-regulatory organization.

Net Capital. We represent that the incurrence by us of our obligations hereunder and under the Underwriting Agreement in connection with the offering of the Securities will not place us in violation of Rule 15c3-1 under the Exchange Act, if such requirements are applicable to us, or, if we are a financial institution subject to regulation by the Board of Governors of the Federal Reserve System, the Comptroller of the Currency or the Federal Deposit Insurance Corporation, will not place us in violation of any similar provisions the capital requirements of any applicable rules such regulator or regulations of any other regulatory authority or self-regulatory organizationregulator to which we are subject.