Common use of Default by One or More of the Initial Purchasers Clause in Contracts

Default by One or More of the Initial Purchasers. If one or more of the Initial Purchasers shall fail at the Closing Time to purchase the Notes which it or they are obligated to purchase under this Agreement (the "Defaulted Notes"), the Representatives shall have the right, within 24 hours thereafter, to make arrangements for one or more of the non-defaulting Initial Purchasers, or any other Initial Purchasers, to purchase all, but not less than all, of the Defaulted Notes in such amounts as may be agreed upon and upon the terms herein set forth; if, however, the Representatives shall not have completed such arrangements within such 24-hour period, then:

Appears in 1 contract

Samples: Purchase Agreement (Simon Property Group L P /De/)

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Default by One or More of the Initial Purchasers. If one or more of the Initial Purchasers shall fail at on the Closing Time Issue Date to purchase the Notes which that it or they are obligated to purchase under this Agreement (the "Defaulted Notes"), the Representatives Representative shall have the right, within 24 hours thereafter, to make arrangements for one or more of the non-defaulting Initial Purchasers, or any other Initial Purchasersinitial purchasers, to purchase all, but not less than all, of the Defaulted Notes in such amounts as may be agreed upon and upon the terms herein set forth; if, however, the Representatives Representative shall not have completed such arrangements within such 24-hour period, then:

Appears in 1 contract

Samples: Purchase Agreement (Language Line Holdings, Inc.)

Default by One or More of the Initial Purchasers. If one or more of the Initial Purchasers shall fail at the Closing Time to purchase the Notes which that it or they are obligated to purchase under this Agreement (the "Defaulted Notes"Amount”), the Representatives Representative shall have the right, within 24 48 hours thereafter, to make arrangements for one or more of the non-defaulting Initial Purchasers, or any other Initial initial Purchasers, to purchase all, but not less than all, of the Defaulted Amount of the Notes in such amounts as may be agreed upon and upon the terms herein set forth; ifforth herein. If, however, the Representatives Representative shall not have completed such arrangements within such 2448-hour period, then:

Appears in 1 contract

Samples: Purchase Agreement (Old Line Bancshares Inc)

Default by One or More of the Initial Purchasers. If one or more of the Initial Purchasers shall fail at the Closing Time any Delivery Date to purchase the Notes which it or they are obligated to purchase under this Agreement (the "Defaulted Notes"), the Representatives shall have the right, but not the obligation, within 24 hours thereafter, to make arrangements for one or more of the non-defaulting Initial Purchasers, or any other Initial Purchasers, to purchase all, but not less than all, of the Defaulted Notes in such amounts as may be agreed upon and upon the terms herein set forth; if, however, the Representatives shall not have completed such arrangements within such 24-hour period, then:

Appears in 1 contract

Samples: Purchase Agreement (Province Healthcare Co)

Default by One or More of the Initial Purchasers. If one or more of the Initial Purchasers shall fail at the Closing Time Date to purchase the Notes which it or they are obligated to purchase under this Agreement (the "Defaulted NotesSecurities"), the Representatives remaining Initial Purchasers shall have the right, within 24 hours thereafter, to make arrangements for one or more of the non-defaulting Initial Purchasers, or any other Initial Purchasers, to purchase all, but not less than all, of the Defaulted Notes Securities in such amounts as 22 may be agreed upon and upon the terms herein set forth; : if, however, the Representatives shall not have completed such arrangements within such 24-hour period, then:

Appears in 1 contract

Samples: Purchase Agreement (Tesoro Alaska Co)

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Default by One or More of the Initial Purchasers. If one or more of the Initial Purchasers shall fail at the Closing Time Date to purchase the Notes which it or they are obligated to purchase under this Agreement (the "Defaulted NotesSecurities"), the Representatives remaining Initial Purchasers shall have the right, within 24 hours thereafter, to make arrangements for one or more of the non-defaulting Initial Purchasers, or any other Initial Purchasers, to purchase all, but not less than all, of the Defaulted Notes Securities in such amounts as may be agreed upon and upon the terms herein set forth; : if, however, the Representatives shall not have completed such arrangements within such 24-hour period, then:

Appears in 1 contract

Samples: Purchase Agreement (Tesoro Alaska Co)

Default by One or More of the Initial Purchasers. If one or more of the Initial Purchasers shall fail at the Closing Time on any Delivery Date to purchase the Notes which it or they are obligated to purchase under this Agreement (the "Defaulted Notes"), the Representatives Representative shall have the right, within 24 hours thereafter, to make arrangements for one or more of the non-defaulting Initial Purchasers, or any other Initial Purchasersinitial purchasers, to purchase all, but not less than all, of the Defaulted Notes in such amounts as may be agreed upon and upon the terms herein set forth; if, however, the Representatives Representative shall not have completed such arrangements within such 24-hour period, then:

Appears in 1 contract

Samples: Purchase Agreement (Fei Co)

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