Common use of Suspension or Revocation of Adviser Registration Clause in Contracts

Suspension or Revocation of Adviser Registration. Except as set forth on Schedule 3.10(l), neither the Seller nor any Affiliated Person of Seller has been convicted of any felony or misdemeanor, described in Section 9(a)(1) of the Investment Company Act, nor has any investment adviser, or any “person associated” (as defined in the Investment Advisers Act) with any investment adviser, of The Henlopen Fund been subject, or presently is subject, to any disqualification that would be a basis for denial, suspension or revocation of registration of an investment adviser under Section 203(e) of the Investment Advisers Act or Rule 206(4)-4(b) thereunder or of a broker-dealer under Section 15 of the Securities Exchange Act, or for disqualification as an investment adviser, employee, officer or director of an investment company under Section 9 of the Investment Company Act, and, to Seller’s knowledge, there is no proceeding or investigation that is reasonably likely to become the basis for, any such disqualification, denial, suspension or revocation.

Suspension or Revocation of Adviser Registration. Except as set forth on Schedule 3.10(l)Neither Seller nor, neither to the Seller nor Knowledge of Seller, any Affiliated Person of Seller has been convicted of any felony or misdemeanor, misdemeanor described in Section 9(a)(1) of the Investment Company Act, nor nor, to the Knowledge of Seller, has any investment adviser, or any “person associated” (as defined in the Investment Advisers Act) with any investment adviser, of The Henlopen Fund the Westport Series been subject, or presently is subject, to any disqualification that would be a basis for denial, suspension or revocation of registration of an investment adviser under Section 203(e) of the Investment Advisers Act or Rule 206(4)-4(b) thereunder or of a broker-dealer under Section 15 of the Securities Exchange Act, or for disqualification as an investment adviser, employee, officer or director of an investment company under Section 9 of the Investment Company Act, and, to the Knowledge of Seller’s knowledge, there is no proceeding or investigation that is reasonably likely to become the basis for, any such disqualification, denial, suspension or revocation.

Suspension or Revocation of Adviser Registration. Except as set forth on Schedule 3.10(l)Neither Seller nor, neither to the Seller nor Knowledge of Seller, any Affiliated Person of Seller has been convicted of any felony or misdemeanor, misdemeanor described in Section 9(a)(1) of the Investment Company Act, nor nor, to the Knowledge of Seller, has any investment adviser, or any “person associated” (as defined in the Investment Advisers Act) with any investment adviser, of The Henlopen Fund the TwinLine Funds been subject, or presently is subject, to any disqualification that would be a basis for denial, suspension suspension, or revocation of registration of an investment adviser under Section 203(e) of the Investment Advisers Act or Rule 206(4)-4(b) thereunder or of a broker-dealer under Section 15 of the Securities Exchange Act, or for disqualification as an investment adviser, employee, officer officer, or director of an investment company under Section 9 of the Investment Company Act, and, to the Knowledge of Seller’s knowledge, there is no proceeding or investigation that is reasonably likely to become the basis for, any such disqualification, denial, suspension suspension, or revocation.