REGULATORY EVENT. A (i) credible allegation of fraud, misconduct, embezzlement, money laundering, xxxxxxx xxxxxxx, market manipulation abuse or other material illegality, breach of regulation or impropriety is made against Client, or any of its principals, executive officers or directors, that in the good faith and commercially reasonable business judgment of Pershing could reasonably be expected to present a risk of material damage to the reputation of Pershing or (ii) official findings of breach of any Applicable Law by any such persons are made by a regulator, judicial or governmental entity including receipt of any Xxxxx notice (a "Regulatory Event"); or
Appears in 3 contracts
Samples: Credit Agreement for Margin Financing (RiverNorth Managed Duration Municipal Income Fund, Inc.), Credit Agreement for Margin Financing (RiverNorth Flexible Municipal Income Fund, Inc.), Credit Agreement for Margin Financing (RiverNorth Opportunistic Municipal Income Fund, Inc.)
REGULATORY EVENT. A (i) credible allegation of fraud, misconduct, embezzlement, money laundering, xxxxxxx ixxxxxx xxxxxxx, market manipulation abuse or other material illegality, breach of regulation or impropriety is made against Client, or any of its principals, executive officers or directors, that in the good faith and commercially reasonable business judgment of Pershing could reasonably be expected to present a risk of material damage to the reputation of Pershing or (ii) official findings of breach of any Applicable Law by any such persons are made by a regulator, judicial or governmental entity including receipt of any Xxxxx Wxxxx notice (a "“Regulatory Event"”); or
Appears in 2 contracts
Samples: Credit Agreement for Margin Financing (Rivernorth Opportunities Fund, Inc.), Credit Agreement (Rivernorth Opportunities Fund, Inc.)
