NASD Approval definition

NASD Approval means the approval of Seller's shareholders as required by the rules and regulations of the NASD by virtue of its Shares being traded on the National Market tier of the NASDAQ Stock Market for Purchaser's acquisition of certain Shares upon conversion of the Second Note (as hereinafter defined).

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NASD Approval means the approval of the National Association of Securities Dealers, Inc. to the proposed reorganization of the secondary high yield securities brokerage and trading business of Jefco, JPOF, JPOF II and JEOF contemplated by this Agreement, the Operating Agreement and the other Related Agreements.

NASD Approval is defined in Section 5.16.

Examples of NASD Approval in a sentence

At the option of Investor, Investor may prepare a letter for submission by the Company to the NASD outlining the nature of the Initial Investment and the NASD Approval Investment and requesting confirmation from the NASD that the NASD Approval Investment may be consummated without first obtaining approval from the Company's stockholders.
Investor shall have delivered to the Company the purchase price specified in Section 1.1 on or before the Initial Closing, and shall have delivered to the Company the purchase price specified in Section 1.2 on or before the NASD Approval Closing.
Notwithstanding the foregoing, no party hereto shall seek indemnification from another party for failure to obtain the First Union Consent or the NASD Approval.
All authorizations, approvals, or permits, if any, of any governmental authority or regulatory body of the United States or of any state that are required in connection with the lawful issuance and sale of the Securities to Investor (i) pursuant to Section 1.1 of this Agreement shall be duly obtained and effective as of the Initial Closing, and (ii) pursuant to Section 1.2 of this Agreement shall be duly obtained and effective as of the NASD Approval Closing.
The NASD Approval and the First Union Consent shall have been obtained on or before the Closing Date.
Except as otherwise specified in this Agreement, irrespective of whether the Initial Closing or the NASD Approval Closing is effected, each party hereto shall pay all costs and expenses that it incurs with respect to the negotiation, execution, delivery and performance of this Agreement.
The purchase and sale of the securities for the NASD Approval Investment shall take place at the offices of Pillsbury Madison & Sutro LLP, ▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, San Francisco, California, within five business days after receipt by the Company from Investor of written NASD approval for such sale, or at such other time and place as the Company and Investor mutually agree (which time and place are designated as the "NASD Approval Closing").
The Company and Purchaser shall work diligently toward obtaining the NASD Approval and the First Union Consent.
The NASD Approval shall have been obtained and any applicable waiting period in respect thereof shall have expired or been terminated and the NASD Approval shall be in full force and effect.
Diamond shall, and shall cause Diamond Broker to, use reasonable best efforts to obtain the NASD Approval.

More Definitions of NASD Approval

NASD Approval means receipt by the Company, on or prior to the NASD Deadline, of a written response to its request that the NASD confirm that no Shareholder Approval is required for the transactions contemplated by the Debentures and the Warrants, satisfactory in form and substance to the holders (in their sole and absolute discretion) of not less than two-thirds of the outstanding principal amount of the Debentures. If the NASD Approval is not obtained by the NASD Deadline, then the NASD Approval shall not be deemed to have been obtained.

NASD Approval means the expiration of any applicable waiting period or the receipt of any required affirmative approval by the NASD relating to the consummation of the transactions contemplated by this Agreement, that certain Stock Exchange Agreement, dated the date hereof, by and between K▇▇▇▇ ▇. ▇▇▇▇▇ and the G▇▇▇▇ First Revocable Trust (collectively “G▇▇▇▇ Parties”) and the Company (the “Stock Exchange Agreement”) and that certain Stock Purchase and Option Agreement, dated the date hereof, by and between the G▇▇▇▇ Parties and the Purchaser (the “G▇▇▇▇/Purchaser Agreement”).