ELIGIBLE Definition

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ELIGIBLE is a security for which one or more Market Makers has received clearance to quote the issue on the OTCBB in the last 30 days. Securities receive eligible status if they are cleared following the filing of a Form 211 or a 15c2-11 Exemption Form. A frequency of quotation test is administered during the eligible period. Until the test is satisfied, any other Market Maker that wishes to quote the issue must also submit a completed Form 211.

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RAR, dependent upon context, is Resource Allocation Request, Revenue Agent Report (US IRS), Remedial Action Report, Report of Actual Reimbursements or Refill Authorization Request.

FINANCING MARGIN RATIO (FMR) is the margin to be maintained between the debit balance and the actual security value as stipulated in the Facility Letter or any other margin as stipulated by a lending bank from time to time as the FMR.

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