Common use of Default of Purchasers Clause in Contracts

Default of Purchasers. If, on the Closing Date, any of the Purchasers shall fail or refuse to purchase Offered Securities that it has agreed to purchase hereunder on such date, and the aggregate principal amount of such Offered Securities that such defaulting Purchaser agreed but failed or refused to purchase does not exceed 10% of the total principal amount of such Offered Securities that the Purchasers are obligated to purchase on such Closing Date, the non-defaulting Purchaser shall be obligated to purchase the amount of such Offered Securities that such defaulting Purchaser agreed but failed or refused to purchase. If, on the Closing Date, a Purchaser shall fail or refuse to purchase the Offered Securities in an aggregate principal amount that exceeds 10% of such total principal amount and arrangements satisfactory to the other Purchaser or Purchasers and the Issuers for the purchase of such Offered Securities are not made within 48 hours after such default, this Agreement shall terminate without liability on the part of the non-defaulting Purchaser or the Issuers and the General Partner, except as otherwise provided in Section 9. In any such case that does not result in termination of this Agreement, the Purchasers or the Issuers may postpone the Closing Date for not longer than seven (7) days, in order that the required changes, if any, in the Offering Circular or any other documents or arrangements may be effected. Any action taken under this paragraph shall not relieve a defaulting Purchaser from liability in respect of any default by any such Purchaser under this Agreement.

Default of Purchasers. If, on the Closing Date, If any of the Purchaser or Purchasers shall fail or refuse default in their obligations to purchase Offered Securities that it has agreed to purchase hereunder on such date, either the First Closing Date or any Optional Closing Date and the aggregate principal amount of such Offered Securities that such defaulting Purchaser or Purchasers agreed but failed or refused to purchase does not exceed 10% of the total principal amount of such Offered Securities that the Purchasers are obligated to purchase on such Closing Date, the non-defaulting Purchaser shall be obligated to purchase the amount of such Offered Securities that such defaulting Purchaser agreed but failed or refused to purchase. If, on the Closing Date, a Purchaser shall fail or refuse to purchase the Offered Securities in an aggregate principal amount that exceeds 10% of such total principal amount and CSFB may make arrangements satisfactory to the other Purchaser or Purchasers and the Issuers Company for the purchase of such Offered Securities by other persons, including any of the Purchasers, but if no such arrangements are made by such Closing Date, the non-defaulting Purchasers shall be obligated severally, in proportion to their respective commitments hereunder, to purchase the Offered Securities that such defaulting Purchasers agreed but failed to purchase on such Closing Date. If any Purchaser or Purchasers so default and the aggregate principal amount of Offered Securities with respect to which such default or defaults occur exceeds 10% of the total principal amount of Offered Securities that the Purchasers are obligated to purchase on such Closing Date and arrangements satisfactory to CSFB and the Company for the purchase of such Offered Securities by other persons are not made within 48 36 hours after such default, this Agreement shall will terminate without liability on the part of the any non-defaulting Purchaser or the Issuers and the General PartnerCompany, except as otherwise provided in Section 99 (provided that if such default occurs with respect to Optional Securities after the First Closing Date, this Agreement shall not terminate as to the Firm Securities or any Optional Securities purchased prior to such termination). In any such case that does not result As used in termination of this Agreement, the Purchasers or the Issuers may postpone the Closing Date term “Purchaser” includes any person substituted for not longer than seven (7) days, in order that the required changes, if any, in the Offering Circular or any other documents or arrangements may be effected. Any action taken a Purchaser under this paragraph shall not Section. Nothing herein will relieve a defaulting Purchaser from liability in respect of any default by any such Purchaser under this Agreementfor its default.

Default of Purchasers. If, on the Closing Date, If any of the Purchaser or Purchasers shall fail or refuse default in their obligations to purchase Offered Securities that it has agreed to purchase hereunder on such date, either the First Closing Date or any Optional Closing Date and the aggregate principal amount number of such Offered Securities that such defaulting Purchaser or Purchasers agreed but failed or refused to purchase does not exceed 10% of the total principal amount number of such Offered Securities that the Purchasers are obligated to purchase on such Closing Date, the non-defaulting Purchaser shall be obligated to purchase the amount of such Offered Securities that such defaulting Purchaser agreed but failed or refused to purchase. If, on the Closing Date, a Purchaser shall fail or refuse to purchase the Offered Securities in an aggregate principal amount that exceeds 10% of such total principal amount and Representatives may make arrangements satisfactory to the other Purchaser or Purchasers and the Issuers Company for the purchase of such Offered Securities by other persons, including any of the Purchasers, but if no such arrangements are made by such Closing Date, the non-defaulting Purchasers shall be obligated severally, in proportion to their respective commitments hereunder, to purchase the Offered Securities that such defaulting Purchasers agreed but failed to purchase on such Closing Date. If any Purchaser or Purchasers so default and the aggregate number of Offered Securities with respect to which such default or defaults occur exceeds 10% of the total number of shares of Offered Securities that the Purchasers are obligated to purchase on such Closing Date and arrangements satisfactory to the Representatives and the Company for the purchase of such Offered Securities by other persons are not made within 48 36 hours after such default, this Agreement shall will terminate without liability on the part of the any non-defaulting Purchaser or the Issuers and the General PartnerCompany, except as otherwise provided in Section 910 (provided that if such default occurs with respect to Optional Securities after the First Closing Date, this Agreement shall not terminate as to the Firm Securities or any Optional Securities purchased prior to such termination). In any such case that does not result As used in termination of this Agreement, the Purchasers or the Issuers may postpone the Closing Date term “Purchaser” includes any person substituted for not longer than seven (7) days, in order that the required changes, if any, in the Offering Circular or any other documents or arrangements may be effected. Any action taken a Purchaser under this paragraph shall not Section. Nothing herein will relieve a defaulting Purchaser from liability in respect of any default by any such Purchaser under this Agreementfor its default.

Default of Purchasers. If, on the Closing Date, If any of the Purchaser or Purchasers shall fail or refuse default in their obligations to purchase Offered Securities that it has agreed to purchase hereunder on such date, either the First Closing Date or any Optional Closing Date and the aggregate principal amount of such Offered Securities that such defaulting Purchaser or Purchasers agreed but failed or refused to purchase does not exceed 10% of the total principal amount of such Offered Securities that the Purchasers are obligated to purchase on such Closing Date, the non-defaulting Purchaser shall be obligated to purchase the amount of such Offered Securities that such defaulting Purchaser agreed but failed or refused to purchase. If, on the Closing Date, a Purchaser shall fail or refuse to purchase the Offered Securities in an aggregate principal amount that exceeds 10% of such total principal amount and CSFB may make arrangements satisfactory to the other Purchaser or Purchasers and the Issuers Company for the purchase of such Offered Securities by other persons, including any of the Purchasers, but if no such arrangements are made by such Closing Date, the non-defaulting Purchasers shall be obligated severally, in proportion to their respective commitments hereunder, to purchase the Offered Securities that such defaulting Purchasers agreed but failed to purchase on such Closing Date. If any Purchaser or Purchasers so default and the aggregate principal amount of Offered Securities with respect to which such default or defaults occur exceeds 10% of the total principal amount Offered Securities that the Purchasers are obligated to purchase on such Closing Date and arrangements satisfactory to CSFB and the Company for the purchase of such Offered Securities by other persons are not made within 48 36 hours after such default, this Agreement shall will terminate without liability on the part of the any non-defaulting Purchaser or the Issuers and the General PartnerCompany, except as otherwise provided in Section 99 (provided that if such default occurs with respect to Optional after the First Closing Date, this Agreement shall not terminate as to the Firm or any Optional Securities purchased prior to such termination). In any such case that does not result As used in termination of this Agreement, the Purchasers or the Issuers may postpone the Closing Date term “Purchaser” includes any person substituted for not longer than seven (7) days, in order that the required changes, if any, in the Offering Circular or any other documents or arrangements may be effected. Any action taken a Purchaser under this paragraph shall not Section. Nothing herein will relieve a defaulting Purchaser from liability in respect of any default by any such Purchaser under this Agreementfor its default.

Default of Purchasers. If, on the Closing Date, If any of the Purchaser or Purchasers shall fail default(s) in its or refuse their obligations to purchase Offered Securities that it has agreed to purchase hereunder on such date, the Closing Date and the aggregate principal amount of such Offered Securities that such defaulting Purchaser or Purchasers agreed but failed or refused to purchase does not exceed 10% of the total aggregate principal amount of such Offered Securities that the Purchasers are obligated to purchase on the Closing Date, the Representatives may make arrangements satisfactory to the Company for the purchase of such Offered Securities by other persons, including any of the Purchasers, but if no such arrangements are made by the Closing Date, the non-defaulting Purchaser Purchasers shall be obligated severally, in proportion to their respective commitments hereunder, to purchase the amount of such Offered Securities that such defaulting Purchaser Purchasers agreed but failed or refused to purchase. If, purchase on the Closing Date, a . If any Purchaser shall fail or refuse to purchase Purchasers so default(s) and the Offered Securities in an aggregate principal amount that of Offered Securities with respect to which such default or defaults occur exceeds 10% of such total the aggregate principal amount of Offered Securities that the Purchasers are obligated to purchase on the Closing Date and arrangements satisfactory to the other Purchaser or Purchasers Representatives and the Issuers Company and Hovnanian for the purchase of such Offered Securities by other persons are not made within 48 hours after such default, this Agreement shall will terminate without liability on the part of the any non-defaulting Purchaser or the Issuers and the General PartnerCompany or Hovnanian, except as otherwise provided in Section 910. In any such case that does not result As used in termination of this Agreement, the Purchasers or the Issuers may postpone the Closing Date term “Purchaser” includes any person substituted for not longer than seven (7) days, in order that the required changes, if any, in the Offering Circular or any other documents or arrangements may be effected. Any action taken a Purchaser under this paragraph shall not Section. Nothing herein will relieve a defaulting Purchaser from liability in respect of any default by any such Purchaser under this Agreementfor its default.

Default of Purchasers. If, on the Closing Date, If any of the Purchaser or Purchasers shall fail or refuse default in their obligations to purchase Offered Securities that it has agreed to purchase hereunder on such date, and the aggregate total principal amount of such Offered Securities the Senior Notes, or the total number of Units, that such defaulting Purchaser or Purchasers agreed but failed or refused to purchase does not exceed 10% of the total aggregate principal amount of such Offered Securities that the Purchasers are obligated to purchase on such Closing DateSenior Notes, the non-defaulting Purchaser shall be obligated to purchase the amount of such Offered Securities that such defaulting Purchaser agreed but failed or refused to purchase. If, on the Closing Date, a Purchaser shall fail or refuse to purchase the Offered Securities in an aggregate principal amount that exceeds 10% of such total principal amount and the aggregate number of Units, NatWest may make arrangements satisfactory to the other Purchaser or Purchasers and the Note Issuers for the purchase of such Offered Securities by other persons, including any of the Purchasers, but if no such arrangements are made by the Closing Date, the non-defaulting Purchasers shall be obligated severally, in proportion to their respective commitments hereunder, to purchase the Offered Securities that such defaulting Purchasers agreed but failed to purchase. If any Purchaser or Purchasers so default and the total principal amount of the Senior Notes, or the total number of Units, with respect to which such default or defaults occur exceeds 10% of the aggregate principal amount of the Senior Notes, or 10% of the aggregate number of Units, and arrangements satisfactory to NatWest and the Note Issuers for the purchase of such Offered Securities by other persons are not made within 48 36 hours after such default, this Agreement shall will terminate without liability on the part of the any non-defaulting Purchaser or the Note Issuers and or the General PartnerCompany, except as otherwise provided in Section 9. In any such case that does not result As used in termination of this Agreement, the Purchasers or the Issuers may postpone the Closing Date term "Purchaser" includes any person substituted for not longer than seven (7) days, in order that the required changes, if any, in the Offering Circular or any other documents or arrangements may be effected. Any action taken a Purchaser under this paragraph shall not Section. Nothing herein will relieve a defaulting Purchaser from liability in respect of any default by any such Purchaser under this Agreementfor its default.

Default of Purchasers. If, on the Closing Date, If any of the Purchaser or Purchasers shall fail or refuse default in their obligations to purchase Offered Securities that it has agreed to purchase hereunder on such date, and the aggregate principal amount of such the Offered Securities that such defaulting Purchaser or Purchasers agreed but failed or refused to purchase does not exceed 10% of the total principal amount of the Offered Securities, the Representatives may make arrangements satisfactory to the Company for the purchase of such Offered Securities by other persons (provided that such persons shall not cause the Purchasers offer, sale or issuance of the Offered Securities to require registration under the Securities Act, other than pursuant to the Registration Rights Agreement, or make the exemptions provided by Rule 144A and/or Regulation S unavailable for the offer, sale and issuance of the Offered Securities), including any of the Purchasers, but if no such arrangements are obligated to purchase on such made by the Closing Date, the non-defaulting Purchaser Purchasers shall be obligated severally, in proportion to their respective commitments hereunder, to purchase the amount of such Offered Securities that such defaulting Purchaser Purchasers agreed but failed or refused to purchase. If, on If any Purchaser or Purchasers so default and the Closing Date, a Purchaser shall fail or refuse to purchase aggregate principal amount of the Offered Securities in an aggregate principal amount that with respect to which such default or defaults occur exceeds 10% of such the total principal amount of the Offered Securities and arrangements satisfactory to the other Purchaser or Purchasers Representatives and the Issuers Company for the purchase of such Offered Securities by other persons are not made within 48 36 hours after such default, this Agreement shall will terminate without liability on the part of the any non-defaulting Purchaser or the Issuers and the General PartnerCompany, except as otherwise provided in Section 910. In any such case that does not result As used in termination of this Agreement, the Purchasers or the Issuers may postpone the Closing Date term “Purchaser” includes any person substituted for not longer than seven (7) days, in order that the required changes, if any, in the Offering Circular or any other documents or arrangements may be effected. Any action taken a Purchaser under this paragraph shall not Section. Nothing herein will relieve a defaulting Purchaser from liability in respect of any default by any such Purchaser under this Agreementfor its default.

Default of Purchasers. If, on the Closing Date, If any of the Purchaser or Purchasers shall fail default(s) in its or refuse their obligations to purchase Offered Securities that it has agreed to purchase hereunder on such date, the Closing Date and the aggregate principal amount of such Offered Securities that such defaulting Purchaser or Purchasers agreed but failed or refused to purchase does not exceed 10% of the total aggregate principal amount of such Offered Securities that the Purchasers are obligated to purchase on the Closing Date, the Representatives may make arrangements satisfactory to the Company for the purchase of such Offered Securities by other persons, including any of the Purchasers, but if no such arrangements are made by the Closing Date, the non-defaulting Purchaser Purchasers shall be obligated severally, in proportion to their respective commitments hereunder, to purchase the amount of such Offered Securities that such defaulting Purchaser Purchasers agreed but failed or refused to purchase. If, purchase on the Closing Date, a . If any Purchaser shall fail or refuse to purchase Purchasers so default(s) and the Offered Securities in an aggregate principal amount that of Offered Securities with respect to which such default or defaults occur exceeds 10% of such total the aggregate principal amount of Offered Securities that the Purchasers are obligated to purchase on the Closing Date and arrangements satisfactory to the other Purchaser or Purchasers Representatives and the Issuers Company and Hovnanian for the purchase of such Offered Securities by other persons are not made within 48 hours after such default, this Agreement shall will terminate without liability on the part of the any non-defaulting Purchaser or the Issuers and the General PartnerCompany or Hovnanian, except as otherwise provided in Section 910. In any such case that does not result As used in termination of this Agreement, the Purchasers or the Issuers may postpone the Closing Date for not longer than seven (7) days, in order that the required changes, if any, in the Offering Circular or any other documents or arrangements may be effected. Any action taken under this paragraph shall not relieve a defaulting Purchaser from liability in respect of any default by any such Purchaser under this Agreement.term

Default of Purchasers. If, If any Purchaser or Purchasers default in their obligations to purchase the Notes hereunder on the Closing Date, any of the Purchasers shall fail or refuse to purchase Offered Securities that it has agreed to purchase hereunder on such date, Date and the aggregate principal amount of such Offered Securities the Notes that such defaulting Purchaser or Purchasers agreed but failed or refused to purchase does not exceed 10% of the total principal amount of such Offered Securities the Notes that the Purchasers are obligated to purchase on the Closing Date, the Representative may make arrangements satisfactory to the Company for the purchase of such Notes by other persons, including any of the Purchasers, but if no such arrangements are made by the Closing Date, the non-defaulting Purchaser Purchasers shall be obligated severally, in proportion to their respective commitments hereunder, to purchase the amount of such Offered Securities Notes that such defaulting Purchaser Purchasers agreed but failed or refused to purchase. If, purchase on the Closing Date, a . If any Purchaser shall fail or refuse to purchase Purchasers so default and the Offered Securities in an aggregate principal amount that of the Notes with respect to which such default or defaults occur exceeds 10% of such the total principal amount of the Notes and arrangements satisfactory to the other Purchaser or Purchasers Representative and the Issuers Company for the purchase of such Offered Securities Notes by other persons are not made within 48 36 hours after such default, this Agreement shall will terminate without liability on the part of the any non-defaulting Purchaser Purchaser, the Company or the Issuers and the General Partner, any Guarantor except as otherwise provided in Section 910. In any such case that does not result As used in termination of this Agreement, the Purchasers or the Issuers may postpone the Closing Date term “Purchaser” includes any person substituted for not longer than seven (7) days, in order that the required changes, if any, in the Offering Circular or any other documents or arrangements may be effected. Any action taken a Purchaser under this paragraph shall not Section 9. Nothing herein will relieve a defaulting Purchaser from liability in respect of any default by any such Purchaser under this Agreementfor its default.

Default of Purchasers. If, on the Closing Date, If any of the Purchaser or Purchasers shall fail or refuse default in their obligations to purchase Offered Securities that it has agreed to purchase hereunder on such date, the Closing Date and the aggregate principal amount of such Offered Securities that such defaulting Purchaser or Purchasers agreed but failed or refused to purchase does not exceed 10% of the total principal amount of such Offered Securities that the Purchasers are obligated to purchase on the Closing Date, the Representative may make arrangements satisfactory to the Company for the purchase of such Offered Securities by other persons, including any of the Purchasers, but if no such arrangements are made by the Closing Date, the non-defaulting Purchaser Purchasers shall be obligated severally, in proportion to their respective commitments hereunder, to purchase the amount of such Offered Securities that such defaulting Purchaser Purchasers agreed but failed or refused to purchase. If, purchase on the Closing Date, a . If any Purchaser shall fail or refuse to purchase Purchasers so default and the Offered Securities in an aggregate principal amount that of Offered Securities with respect to which such default or defaults occur exceeds 10% of such the total principal amount of Offered Securities that the Purchasers are obligated to purchase on the Closing Date and arrangements satisfactory to the other Purchaser or Purchasers Credit Suisse and the Issuers Company for the purchase of such Offered Securities by other persons are not made within 48 36 hours after such default, this Agreement shall will terminate without liability on the part of the any non-defaulting Purchaser Purchaser, the Company or the Issuers and the General Partnerany Guarantor, except as otherwise provided in Section 910. In any such case that does not result As used in termination of this Agreement, the Purchasers or the Issuers may postpone the Closing Date term “Purchaser” includes any person substituted for not longer than seven (7) days, in order that the required changes, if any, in the Offering Circular or any other documents or arrangements may be effected. Any action taken a Purchaser under this paragraph shall not Section. Nothing herein will relieve a defaulting Purchaser from liability in respect of any default by any such Purchaser under this Agreementfor its default.

Default of Purchasers. If, on the Closing Date, If any of the Purchaser or Purchasers shall fail or refuse default in their obligations to purchase Offered Securities that it has agreed to purchase Shares hereunder on such date, either the First Closing Date or any Optional Closing Date and the aggregate principal amount number of such Offered Securities Shares that such defaulting Purchaser or Purchasers agreed but failed or refused to purchase does not exceed 10% of the total principal amount aggregate number of Shares to be purchased on such Offered Securities that date, the Purchasers are shall be obligated to purchase on such Closing Date, the Representatives may make arrangements satisfactory to the Company for the purchase of such Shares by other persons, including any of the Purchasers, but if no such arrangements are made by such Closing Date, the non-defaulting Purchaser Purchasers shall be obligated severally, in the proportions that the number of Firm Shares set forth opposite proportion to their respective names in Schedule A hereto, bear to the aggregate number of Shares set forth opposite the names of all such non-defaulting Purchasers (including the provisions of this Agreement), to purchase the amount of such Offered Securities Shares that such defaulting Purchaser Purchasers agreed but failed or refused to purchase. If, on the First Closing Date, a any Purchaser shall fail or refuse Purchasers so default and the aggregate number of Firm Shares with respect to purchase the Offered Securities in an aggregate principal amount that which such default or defaults occur exceeds 10% of such total principal amount the aggregate number of Firm Shares and arrangements satisfactory to the other Purchaser or Purchasers Representatives and the Issuers Company for the purchase of such Offered Securities Firm Shares by other persons are not made within 48 36 hours after such default, this Agreement shall will terminate without liability on the part of the any non-defaulting Purchaser or the Issuers and the General PartnerCompany, except as otherwise provided in Section 98. In If, on the Optional Closing Date, any Purchaser or Purchasers so default and the aggregate number of Optional Shares with respect to which such case default or defaults occur exceeds 10% of the aggregate number of Optional Shares and arrangements satisfactory to the Representatives and the Company for the purchase of such Optional Shares by other persons are not made within 36 hours after such default, the non-defaulting Purchasers shall have the option to (i) terminate their obligation under this Agreement to purchase Optional Shares or (ii) purchase not less than the number of Optional Shares that does not result such non-defaulting Purchasers would have been obligated to purchase in termination the absence of such default. As used in this Agreement, the Purchasers or the Issuers may postpone the Closing Date term “Purchaser” includes any person substituted for not longer than seven (7) days, in order that the required changes, if any, in the Offering Circular or any other documents or arrangements may be effected. Any action taken a Purchaser under this paragraph shall not Section. Nothing herein will relieve a defaulting Purchaser from liability in respect of any default by any such Purchaser under this Agreementfor its default.

Default of Purchasers. If, on the Closing Date, If any of the Purchaser or Purchasers shall fail or refuse default in their obligations to purchase Offered Securities that it has agreed to purchase hereunder on such date, the Closing Date and the aggregate principal amount of such Offered Securities that such defaulting Purchaser or Purchasers agreed but failed or refused to purchase does not exceed 10% of the total principal amount of such Offered Securities that the Purchasers are obligated to purchase on the Closing Date, the Representative may make arrangements satisfactory to the Company for the purchase of such Offered Securities by other persons, including any of the Purchasers, but if no such arrangements are made by the Closing Date, the non-defaulting Purchaser Purchasers shall be obligated severally, in proportion to their respective commitments hereunder, to purchase the amount of such Offered Securities that such defaulting Purchaser Purchasers agreed but failed or refused to purchase. If, purchase on the Closing Date, a . If any Purchaser shall fail or refuse to purchase Purchasers so default and the Offered Securities in an aggregate principal amount that of Offered Securities with respect to which such default or defaults occur exceeds 10% of such the total principal amount of Offered Securities that the Purchasers are obligated to purchase on the Closing Date and arrangements satisfactory to the other Purchaser or Purchasers Representative and the Issuers Company for the purchase of such Offered Securities by other persons are not made within 48 36 hours after such default, this Agreement shall will terminate without liability on the part of the any non-defaulting Purchaser or the Issuers and the General PartnerCompany, except as otherwise provided in Section 910. In any such case that does not result As used in termination of this Agreement, the Purchasers or the Issuers may postpone the Closing Date term “Purchaser” includes any person substituted for not longer than seven (7) days, in order that the required changes, if any, in the Offering Circular or any other documents or arrangements may be effected. Any action taken a Purchaser under this paragraph shall not Section. Nothing herein will relieve a defaulting Purchaser from liability in respect of any default by any such Purchaser under this Agreementfor its default.

Default of Purchasers. If, If any Purchaser or Purchasers default in their obligations to purchase Securities hereunder on the Closing Date, any of the Purchasers shall fail or refuse to purchase Offered Securities that it has agreed to purchase hereunder on such date, Date and the aggregate principal amount at maturity of such Offered Securities that such defaulting Purchaser or Purchasers agreed but failed or refused to purchase does not exceed 10% of the total principal amount of such Offered Securities that the Purchasers are obligated to purchase on the Closing Date, the Representatives may make arrangements satisfactory to the Company for the purchase of such Securities by other persons, including any of the Purchasers, but if no such arrangements are made by the Closing Date, the non-defaulting Purchaser Purchasers shall be obligated severally, in proportion to their respective commitments hereunder, to purchase the amount of such Offered Securities that such defaulting Purchaser Purchasers agreed but failed or refused to purchase. If, purchase on the Closing Date, a . If any Purchaser shall fail or refuse to purchase Purchasers so default and the Offered Securities in an aggregate principal amount that at maturity of Securities with respect to which such default or defaults occur exceeds 10% of such the total principal amount of Securities that the Purchasers are obligated to purchase on the Closing Date and arrangements satisfactory to the other Purchaser or Purchasers Representatives and the Issuers Company for the purchase of such Offered Securities by other persons are not made within 48 36 hours after such default, this Agreement shall will terminate without liability on the part of the any non-defaulting Purchaser or the Issuers and the General PartnerCompany, except as otherwise provided in Section 9. In any such case that does not result As used in termination of this Agreement, the Purchasers or the Issuers may postpone the Closing Date term "Purchaser" includes any person substituted for not longer than seven (7) days, in order that the required changes, if any, in the Offering Circular or any other documents or arrangements may be effected. Any action taken a Purchaser under this paragraph shall not Section. Nothing herein will relieve a defaulting Purchaser from liability in respect of any default by any such Purchaser under this Agreementfor its default.

Default of Purchasers. If, on the Closing Date, If any of the Purchaser or Purchasers shall fail or refuse default in their obligations to purchase Offered Securities that it has agreed to purchase hereunder on such date, either the First or any Optional Closing Date and the aggregate principal amount of such Offered Securities that such defaulting Purchaser or Purchasers agreed but failed or refused to purchase does not exceed 10% of the total principal amount of such Offered Securities that the Purchasers are obligated to purchase on such Closing Date, the non-defaulting Purchaser shall be obligated to purchase the amount of such Offered Securities that such defaulting Purchaser agreed but failed or refused to purchase. If, on the Closing Date, a Purchaser shall fail or refuse to purchase the Offered Securities in an aggregate principal amount that exceeds 10% of such total principal amount and Representatives may make arrangements satisfactory to the other Purchaser or Purchasers and the Issuers Company for the purchase of such Offered Securities by other persons, including any of the Purchasers, but if no such arrangements are made by such Closing Date, the non-defaulting Purchasers shall be obligated severally, in proportion to their respective commitments hereunder, to purchase the Offered Securities that such defaulting Purchasers agreed but failed to purchase on such Closing Date. If any Purchaser or Purchasers so default and the aggregate principal amount of Offered Securities with respect to which such default or defaults occur exceeds 10% of the total principal amount of Offered Securities that the Purchasers are obligated to purchase on such Closing Date and arrangements satisfactory to the Representatives and the Company for the purchase of such Offered Securities by other persons are not made within 48 36 hours after such default, this Agreement shall will terminate without liability on the part of the any non-defaulting Purchaser or the Issuers and the General PartnerCompany, except as otherwise provided in Section 910 (provided that, if such default occurs with respect to Optional Securities after the First Closing Date, this Agreement will not terminate as to the Firm Securities or any Optional Securities purchased prior to such termination). In any such case that does not result As used in termination of this Agreement, the Purchasers or the Issuers may postpone the Closing Date term “Purchaser” includes any person substituted for not longer than seven (7) days, in order that the required changes, if any, in the Offering Circular or any other documents or arrangements may be effected. Any action taken a Purchaser under this paragraph shall not Section. Nothing herein will relieve a defaulting Purchaser from liability in respect of any default by any such Purchaser under this Agreementfor its default.

Default of Purchasers. If, on the Closing Date, If any of the Purchaser or Purchasers shall fail or refuse default in their obligations to purchase Offered Securities that it has agreed to purchase hereunder on such date, the Closing Date and the aggregate principal amount of such Offered Securities that such defaulting Purchaser or Purchasers agreed but failed or refused to purchase does not exceed 10% of the total principal amount of such Offered Securities that the Purchasers are obligated to purchase on such Closing Date, the non-defaulting Purchaser shall be obligated to purchase the amount of such Offered Securities that such defaulting Purchaser agreed but failed or refused to purchase. If, on the Closing Date, a Purchaser shall fail or refuse to purchase the Offered Securities in an aggregate principal amount that exceeds 10% of such total principal amount and CSFB may make arrangements satisfactory to the other Purchaser or Purchasers and the Issuers Company for the purchase of such Offered Securities by other persons, including any of the Purchasers, but if no such arrangements are made by such Closing Date, the non-defaulting Purchasers shall be obligated severally, in proportion to their respective commitments hereunder, to purchase the Offered Securities that such defaulting Purchasers agreed but failed to purchase on such Closing Date. If any Purchaser or Purchasers so default and the aggregate principal amount of Offered Securities with respect to which such default or defaults occur exceeds 10% of the total principal amount of Offered Securities that the Purchasers are obligated to purchase on such Closing Date and arrangements satisfactory to CSFB and the Company for the purchase of such Offered Securities by other persons are not made within 48 36 hours after such default, this Agreement shall will terminate without liability on the part of the any non-defaulting Purchaser or the Issuers and the General PartnerCompany, except as otherwise provided in Section 9. In any such case that does not result As used in termination of this Agreement, the Purchasers or the Issuers may postpone the Closing Date term “Purchaser” includes any person substituted for not longer than seven (7) days, in order that the required changes, if any, in the Offering Circular or any other documents or arrangements may be effected. Any action taken a Purchaser under this paragraph shall not Section. Nothing herein will relieve a defaulting Purchaser from liability in respect of any default by any such Purchaser under this Agreementfor its default.

Default of Purchasers. If, on the Closing Date, If any of the Purchaser or Purchasers shall fail or refuse default in their obligations to purchase Offered Securities that it has agreed to purchase hereunder on such date, either the First Closing Date or any Optional Closing Date and the aggregate principal amount of such the Offered Securities that such defaulting Purchaser or Purchasers agreed but failed or refused to purchase does not exceed 10% of the total principal amount of such the Offered Securities that the Purchasers are obligated to purchase on such Closing Date, the non-defaulting Purchaser shall be obligated to purchase the amount of such Offered Securities that such defaulting Purchaser agreed but failed or refused to purchase. If, on the Closing Date, a Purchaser shall fail or refuse to purchase the Offered Securities in an aggregate principal amount that exceeds 10% of such total principal amount and CSFB may make arrangements satisfactory to the other Purchaser or Purchasers and the Issuers Company for the purchase of such Offered Securities by other persons, including any of the Purchasers, but if no such arrangements are made by such Closing Date, the non-defaulting Purchasers shall be obligated severally, in proportion to their respective commitments hereunder, to purchase the Securities that such defaulting Purchasers agreed but failed to purchase on such Closing Date. If any Purchaser or Purchasers so default and the aggregate principal amount of the Offered Securities with respect to which such default or defaults occur exceeds 10% of the total principal amount of the Offered Securities that the Purchasers are obligated to purchase on such Closing Date and arrangements satisfactory to CSFB and the Company for the purchase of such Offered Securities by other persons are not made within 48 36 hours after such default, this Agreement shall will terminate without liability on the part of the any non-defaulting Purchaser or the Issuers and the General PartnerCompany, except as otherwise provided in Section 99 (provided that if such default occurs with respect to Optional Securities after the First Closing Date, this Agreement shall not terminate as to the Firm Securities or any Optional Securities purchased prior to such termination). In any such case that does not result As used in termination of this Agreement, the Purchasers or the Issuers may postpone the Closing Date term "Purchaser" includes any person substituted for not longer than seven (7) days, in order that the required changes, if any, in the Offering Circular or any other documents or arrangements may be effected. Any action taken a Purchaser under this paragraph shall not Section. Nothing herein will relieve a defaulting Purchaser from liability in respect of any default by any such Purchaser under this Agreementfor its default.

Default of Purchasers. If, If any Purchaser or Purchasers default in their obligations to purchase Securities hereunder on the Closing Date, any of the Purchasers shall fail or refuse to purchase Offered Securities that it has agreed to purchase hereunder on such date, Date and the aggregate principal amount of such the Offered Securities that such defaulting Purchaser or Purchasers agreed but failed or refused to purchase does not exceed 10% of the total principal amount of such the Offered Securities that the Purchasers are obligated to purchase on the Closing Date, Credit Suisse may make arrangements satisfactory to the Company for the purchase of such Offered Securities by other persons, including any of the Purchasers, but if no such arrangements are made by the Closing Date, the non-defaulting Purchaser Purchasers shall be obligated severally, in proportion to their respective commitments hereunder, to purchase the amount of such Offered Securities that such defaulting Purchaser Purchasers agreed but failed or refused to purchase. If, purchase on the Closing Date, a . If any Purchaser shall fail or refuse to purchase Purchasers so default and the aggregate principal amount of the Offered Securities in an aggregate principal amount that with respect to which such default or defaults occur exceeds 10% of such the total principal amount of the Offered Securities that the Purchasers are obligated to purchase on the Closing Date and arrangements satisfactory to the other Purchaser or Purchasers Credit Suisse and the Issuers Company for the purchase of such Offered Securities by other persons are not made within 48 36 hours after such default, this Agreement shall will terminate without liability on the part of the any non-defaulting Purchaser or the Issuers and the General PartnerCompany, except as otherwise provided in Section 9. In any such case that does not result As used in termination of this Agreement, the Purchasers or the Issuers may postpone the Closing Date term “Purchaser” includes any person substituted for not longer than seven (7) days, in order that the required changes, if any, in the Offering Circular or any other documents or arrangements may be effected. Any action taken a Purchaser under this paragraph shall not Section. Nothing herein will relieve a defaulting Purchaser from liability in respect of any default by any such Purchaser under this Agreementfor its default.

Default of Purchasers. If, on the Closing Date, If any of the Purchaser or Purchasers shall fail or refuse default in their obligations to purchase Offered Securities that it has agreed to purchase hereunder on such date, the Closing Date and the aggregate principal amount of such Offered Securities that such defaulting Purchaser or Purchasers agreed but failed or refused to purchase does not exceed 10% of the total aggregate principal amount of such Offered Securities that the Purchasers are obligated to purchase on the Closing Date, the Representative may make arrangements satisfactory to the Company for the purchase of such Offered Securities by other persons, including any of the Purchasers, but if no such arrangements are made by the Closing Date, the non-defaulting Purchaser Purchasers shall be obligated severally, in proportion to their respective commitments hereunder, to purchase the amount of such Offered Securities that such defaulting Purchaser Purchasers agreed but failed or refused to purchase. If, purchase on the Closing Date, a . If any Purchaser shall fail or refuse to purchase Purchasers so default and the Offered Securities in an aggregate principal amount that of Offered Securities with respect to which such default or defaults occur exceeds 10% of such total the aggregate principal amount of Offered Securities that the Purchasers are obligated to purchase on the Closing Date and arrangements satisfactory to the other Purchaser or Purchasers Representative and the Issuers Company for the purchase of such Offered Securities by other persons are not made within 48 36 hours after such default, this Agreement shall will terminate without liability on the part of the any non-defaulting Purchaser or the Issuers and the General PartnerCompany, except as otherwise provided in Section 910. In any such case that does not result As used in termination of this Agreement, the Purchasers or the Issuers may postpone the Closing Date term “Purchaser” includes any person substituted for not longer than seven (7) days, in order that the required changes, if any, in the Offering Circular or any other documents or arrangements may be effected. Any action taken a Purchaser under this paragraph shall not Section. Nothing herein will relieve a defaulting Purchaser from liability in respect of any default by any such Purchaser under this Agreementfor its default.