Common use of Default of Purchasers Clause in Contracts

Default of Purchasers. If any Purchaser or Purchasers default in their obligations to purchase Offered Securities hereunder and the aggregate principal amount of Offered Securities that such defaulting Purchaser or Purchasers agreed but failed to purchase does not exceed 10% of the total principal amount of Offered Securities that the Purchasers are obligated to purchase on the Closing Date, the Representative may make arrangements satisfactory to the Partnership 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 on the 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 the Closing Date and arrangements satisfactory to the Representative and the Partnership for the purchase of such Offered Securities by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Purchaser or the Partnership, except as provided in Section 9 hereof. As used in this Agreement, the term “Purchaser” includes any person substituted for a Purchaser under this Section 8. Nothing herein will relieve a defaulting Purchaser from liability for its default.

Default of Purchasers. If any Purchaser or Purchasers default defaults in their its obligations to purchase Offered Securities hereunder and the aggregate principal amount of Offered Securities that such defaulting Purchaser or Purchasers agreed but failed to purchase does not exceed 10% of the total principal amount of Offered Securities that the Purchasers are obligated to purchase on the Closing DateSecurities, the Representative Representatives may make arrangements satisfactory to the Partnership Company for the purchase of such Offered Securities by other persons, including any of the PurchasersPurchaser, but if no such arrangements are made by the Closing Date, the non-defaulting Purchasers Purchaser shall be obligated severally, in proportion to their respective commitments hereunder, to purchase the Offered Securities that such defaulting Purchasers Purchaser agreed but failed to purchase on the Closing Datepurchase. If any Purchaser or Purchasers so default defaults 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 the Closing Date and arrangements satisfactory to the Representative Representatives and the Partnership Company for the purchase of such Offered Securities by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Purchaser or the PartnershipCompany, except as provided in Section 9 hereof10. As used in this Agreement, the term “Purchaser” includes any person substituted for a Purchaser under this Section 8Section. Nothing herein will relieve a defaulting Purchaser from liability for its default.

Default of Purchasers. If any Purchaser or Purchasers default in their obligations to purchase Offered Securities hereunder on the Closing Date and the aggregate principal amount of Offered Securities that such defaulting Purchaser or Purchasers agreed but failed to purchase does not exceed 10% of the total principal amount of Offered Securities that the Purchasers are obligated to purchase on the such Closing Date, the Representative may make arrangements satisfactory to the Partnership 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 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 the 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 the such Closing Date and arrangements satisfactory to the Representative and the Partnership Company for the purchase of such Offered Securities by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Purchaser or the PartnershipCompany, except as provided in Section 9 hereof8. As used in this Agreement, the term “Purchaser” includes any person substituted for a Purchaser under this Section 8Section. Nothing herein will relieve a defaulting Purchaser from liability for its default.

Default of Purchasers. If any Purchaser or Purchasers default in their obligations to purchase Offered Securities hereunder on either the First Closing Date or any Optional Closing Date and the aggregate principal amount of Offered Securities that such defaulting Purchaser or Purchasers agreed but failed to purchase does not exceed 10% of the total principal amount of Offered Securities that the Purchasers are obligated to purchase on the such Closing Date, the Representative CSFBC may make arrangements satisfactory to the Partnership 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 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 the 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 the such Closing Date and arrangements satisfactory to the Representative CSFBC and the Partnership Company for the purchase of such Offered Securities by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Purchaser or the PartnershipCompany, except as provided in Section 9 hereof(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). As used in this Agreement, the term “"Purchaser” " includes any person substituted for a Purchaser under this Section 8Section. Nothing herein will relieve a defaulting Purchaser from liability for its default.

Default of Purchasers. If any Purchaser or Purchasers default in their obligations to purchase Offered Securities hereunder and the aggregate principal amount of Offered Securities that such defaulting Purchaser or Purchasers agreed but failed to purchase does not exceed 10% of the total principal amount of Offered Securities that the Purchasers are obligated to purchase on the Closing Date, the Representative may make arrangements satisfactory to the Partnership 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 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 the 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 the Closing Date and arrangements satisfactory to the Representative and the Partnership Company for the purchase of such Offered Securities by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Purchaser or the PartnershipCompany, except as provided in Section 9 hereof9. As used in this Agreement, the term “Purchaser” includes any person substituted for a Purchaser under this Section 8Section. Nothing herein will relieve a defaulting Purchaser from liability for its default.

Default of Purchasers. If any Purchaser or Purchasers default in their obligations to purchase Offered Securities hereunder and the aggregate principal amount of Offered Securities that such defaulting Purchaser or Purchasers agreed but failed to purchase does not exceed 10% of the total principal amount of Offered Securities that the Purchasers are obligated Securities, Credit Suisse shall use commercially reasonable efforts to purchase on the Closing Date, the Representative may make arrangements satisfactory to the Partnership Issuer 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 on the Closing Datepurchase. 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 the Closing Date and arrangements satisfactory to the Representative Credit Suisse and the Partnership Issuer for the purchase of such Offered Securities by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Purchaser or the PartnershipIssuer, except as provided in Section 9 hereof10. As used in this Agreement, the term “Purchaser” includes any person substituted for a Purchaser under this Section 8with the like effect as if such person had originally been a party to this Agreement with regard to such Offered Securities. Nothing herein will relieve a defaulting Purchaser from liability for its default.

Default of Purchasers. If any Purchaser or Purchasers default in their obligations to purchase Offered Securities hereunder and the aggregate principal amount of the Offered Securities that such defaulting Purchaser or Purchasers agreed but failed to purchase does not exceed 10% of the total principal amount of the Offered Securities that the Purchasers are obligated to purchase on the Closing DateSecurities, the Representative Credit Suisse may make arrangements satisfactory to the Partnership Company and the Selling Noteholder 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 on the Closing Datepurchase. 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 the Closing Date and arrangements satisfactory to Credit Suisse, the Representative Company and the Partnership Selling Noteholder for the purchase of such Offered Securities by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Purchaser Purchaser, the Company or the PartnershipSelling Noteholder, except as provided in Section 9 hereof10. As used in this Agreement, the term “Purchaser” includes any person substituted for a Purchaser under this Section 8Section. Nothing herein will relieve a defaulting Purchaser from liability for its default.

Default of Purchasers. If any Purchaser or Purchasers default in its or their obligations to purchase Offered Securities hereunder and the aggregate principal amount of Offered Securities that such defaulting Purchaser or Purchasers agreed but failed to purchase does not exceed 10% of the total principal amount of Offered Securities that the Purchasers are obligated to purchase on the Closing DateSecurities, the Representative you may make arrangements satisfactory to EME and the Partnership 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 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 the Closing Datepurchase. 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 the Closing Date and arrangements satisfactory to the Representative you, EME and the Partnership Company for the purchase of such Offered Securities by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Purchaser Purchaser, EME or the PartnershipCompany, except as provided in Section 9 hereof9. As used in this Agreement, the term “"Purchaser” " includes any person substituted for a Purchaser under this Section 8Section. Nothing herein will relieve a defaulting Purchaser from liability for its default.

Default of Purchasers. If any Purchaser or Purchasers default in their obligations to purchase Offered Securities hereunder on either the First Closing Date or any Optional Closing Date and the aggregate principal amount of Offered Securities that such defaulting Purchaser or Purchasers agreed but failed to purchase does not exceed 10% of the total principal amount of Offered Securities that the Purchasers are obligated to purchase on the such Closing Date, the Representative may make arrangements satisfactory to the Partnership 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 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 the 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 the such Closing Date and arrangements satisfactory to the Representative and the Partnership Company for the purchase of such Offered Securities by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Purchaser or the PartnershipCompany, except as provided in Section 9 hereof8 (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). As used in this Agreement, the term “Purchaser” includes any person substituted for a Purchaser under this Section 8Section. Nothing herein will relieve a defaulting Purchaser from liability for its default.

Default of Purchasers. If any Purchaser or Purchasers default in their obligations to purchase Offered Securities hereunder and the aggregate principal amount of Offered Securities that such defaulting Purchaser or Purchasers agreed but failed to purchase does not exceed 10% of the total principal amount of Offered Securities that the Purchasers are obligated to purchase on the Closing DateSecurities, the Representative CSFBC may make arrangements satisfactory to the Partnership Issuers and the Subsidiary Guarantors for the purchase of such Offered Securities by other persons, including any of the Purchasers, but if no such arrangements are made by the 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 the Closing Datepurchase. 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 the Closing Date and arrangements satisfactory to the Representative CSFBC and the Partnership Issuers and the Subsidiary Guarantors for the purchase of such Offered Securities by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Purchaser or the PartnershipIssuers and the Subsidiary Guarantors, except as provided in Section 9 hereof9. As used in this Agreement, the term “"Purchaser” " includes any person substituted for a Purchaser under this Section 8Section. Nothing herein will relieve a defaulting Purchaser from liability for its default.

Default of Purchasers. If any Purchaser or Purchasers default in their obligations to purchase Offered Securities hereunder and the aggregate principal amount of Offered Securities that such defaulting Purchaser or Purchasers agreed but failed to purchase does not exceed 10% of the total principal amount of Offered Securities that the Purchasers are obligated to purchase on the Closing Date, the Representative may make arrangements satisfactory to the Partnership 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 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 the 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 the Closing Date and arrangements satisfactory to the Representative and the Partnership Company for the purchase of such Offered Securities by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Purchaser or the PartnershipCompany, except as provided in Section 9 hereof10. As used in this Agreement, the term “Purchaser” includes any person substituted for a Purchaser under this Section 8Section. Nothing herein will relieve a defaulting Purchaser from liability for its default.

Default of Purchasers. If any Purchaser or Purchasers default in their obligations to purchase Offered Securities hereunder and the aggregate principal amount of Offered Securities that such defaulting Purchaser or Purchasers agreed but failed to purchase does not exceed 10% of the total principal amount of Offered Securities that the Purchasers are obligated to purchase on the Closing Date, the Representative Representatives may make arrangements satisfactory to the Partnership 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 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 the 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 the Closing Date and arrangements satisfactory to the Representative Representatives and the Partnership Company for the purchase of such Offered Securities by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Purchaser or the PartnershipCompany, except as provided in Section 9 hereof9. As used in this Agreement, the term “Purchaser” includes any person substituted for a Purchaser under this Section 8Section. Nothing herein will relieve a defaulting Purchaser from liability for its default.

Default of Purchasers. If any Purchaser or Purchasers default in their obligations to purchase Offered Securities hereunder on either the First or any Optional Closing Date and the aggregate principal amount of Offered Securities that such defaulting Purchaser or Purchasers agreed but failed to purchase does not exceed 10% of the total principal amount of Offered Securities that the Purchasers are obligated to purchase on the such Closing Date, the Representative Representatives may make arrangements satisfactory to the Partnership 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 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 the 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 the such Closing Date and arrangements satisfactory to the Representative Representatives and the Partnership Company for the purchase of such Offered Securities by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Purchaser or the PartnershipCompany, except as provided in Section 9 hereof10 (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). As used in this Agreement, the term “Purchaser” includes any person substituted for a Purchaser under this Section 8Section. Nothing herein will relieve a defaulting Purchaser from liability for its default.

Default of Purchasers. If any Purchaser or Purchasers default in their obligations to purchase Offered Securities hereunder and the aggregate principal amount of the Offered Securities that such defaulting Purchaser or Purchasers agreed but failed to purchase does not exceed 10% of the total principal amount of the Offered Securities that the Purchasers are obligated to purchase on the Closing DateSecurities, the Representative CSFB may make arrangements satisfactory to the Partnership 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 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 the 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 the Closing Date and arrangements satisfactory to the Representative CSFB and the Partnership Company for the purchase of such Offered Securities by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Purchaser or the PartnershipCompany, except as provided in Section 9 hereof9. As used in this Agreement, the term “"Purchaser” " includes any person substituted for a Purchaser under this Section 8Section. Nothing herein will relieve a defaulting Purchaser from liability for its default.

Default of Purchasers. If any Purchaser or Purchasers default in their obligations to purchase Offered Securities hereunder on either the First Closing Date or any Optional Closing Date and the aggregate principal amount of Offered Securities that such defaulting Purchaser or Purchasers agreed but failed to purchase does not exceed 10% of the total principal amount of Offered Securities that the Purchasers are obligated to purchase on the such Closing Date, the Representative CSFBC may make arrangements satisfactory to the Partnership 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 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 the 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 the such Closing Date and arrangements satisfactory to the Representative CSFBC and the Partnership Company for the purchase of such Offered Securities by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Purchaser or the PartnershipCompany, except as provided in Section 9 hereof(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)]. As used in this Agreement, the term “"Purchaser” " includes any person substituted for a Purchaser under this Section 8Section. Nothing herein will relieve a defaulting Purchaser from liability for its default.

Default of Purchasers. If any Purchaser or Purchasers default in their obligations to purchase Offered Securities hereunder and the aggregate principal amount of Offered Securities that such defaulting Purchaser or Purchasers agreed but failed to purchase does not exceed 10% of the total principal amount of Offered Securities that Securities, the Purchasers are obligated to purchase on the Closing Date, the Representative may make arrangements satisfactory to the Partnership 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 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 the Closing Datepurchase. 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 the Closing Date and arrangements satisfactory to the Representative Purchasers and the Partnership Company for the purchase of such Offered Securities by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Purchaser or the PartnershipCompany, except as provided in Section 9 hereof9. As used in this Agreement, the term “Purchaser” includes any person substituted for a Purchaser under this Section 8Section. Nothing herein will relieve a defaulting Purchaser from liability for its default.

Default of Purchasers. If any Purchaser or Purchasers default in their obligations to purchase Offered Securities hereunder on either the First Closing Date or any Optional Closing Date and the aggregate principal amount of Offered Securities that such defaulting Purchaser or Purchasers agreed but failed to purchase does not exceed 10% of the total principal amount of Offered Securities that the Purchasers are obligated to purchase on the such Closing Date, the Representative CSFB may make arrangements satisfactory to the Partnership 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 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 the 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 the such Closing Date and arrangements satisfactory to the Representative CSFB and the Partnership Company for the purchase of such Offered Securities by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Purchaser or the PartnershipCompany, except as provided in Section 9 hereof(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). As used in this Agreement, the term “Purchaser” includes any person substituted for a Purchaser under this Section 8Section. Nothing herein will relieve a defaulting Purchaser from liability for its default.

Default of Purchasers. If any Purchaser or Purchasers default in their obligations to purchase Offered Securities hereunder on the Closing Date and the aggregate principal amount of Offered Securities that such defaulting Purchaser or Purchasers agreed but failed to purchase does not exceed 10% of the total aggregate principal amount of Offered Securities that the Purchasers are obligated to purchase on the Closing Date, the Representative may make arrangements satisfactory to the Partnership 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 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 the 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 aggregate principal amount of Offered Securities that the Purchasers are obligated to purchase on the Closing Date and arrangements satisfactory to the Representative and the Partnership Company for the purchase of such Offered Securities by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Purchaser or the PartnershipCompany, except as provided in Section 9 hereof10. As used in this Agreement, the term “Purchaser” includes any person substituted for a Purchaser under this Section 8Section. Nothing herein will relieve a defaulting Purchaser from liability for its default.

Default of Purchasers. If any Initial Purchaser or Initial Purchasers default in their obligations to purchase Offered Securities hereunder and the aggregate principal amount of Offered Securities that such defaulting Initial Purchaser or Purchasers agreed but failed to purchase does not exceed 10% of the total principal amount of Offered Securities that the Purchasers are obligated to purchase on the Closing DateSecurities, the Representative CSFBC may make arrangements satisfactory to the Partnership Issuer for the purchase of such Offered Securities by other persons, including any of the other Initial Purchasers, but if no such arrangements are made by the Closing Date, the non-defaulting Initial Purchasers shall be obligated severally, in proportion to their the respective commitments hereunder, to purchase the Offered Securities that such defaulting Initial Purchasers agreed but failed to purchase on the Closing Datepurchase. If any Initial Purchaser or Initial 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 the Closing Date and arrangements satisfactory to the Representative CSFBC and the Partnership Issuer for the purchase of such Offered Securities by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Initial Purchaser or the PartnershipIssuer, except as provided in Section 9 hereof9. As used in this Agreement, the term “"Initial Purchaser” " includes any person substituted for a an Initial Purchaser under this Section 8Section. Nothing herein will relieve a defaulting Initial Purchaser from liability for its default.

Default of Purchasers. If any Purchaser or Purchasers default in their obligations to purchase the Offered Securities hereunder on the Closing Date and the aggregate principal amount of the Offered Securities that such defaulting Purchaser or Purchasers agreed but failed to purchase does not exceed 10% of the total principal amount of the Offered Securities that the Purchasers are obligated to purchase on the Closing DateSecurities, the Representative CSFB may make arrangements satisfactory to the Partnership 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 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 the Closing Datepurchase. 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 the Closing Date and arrangements satisfactory to the Representative CSFB and the Partnership Company for the purchase of such Offered Securities by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Purchaser or the PartnershipCompany or any of the Guarantors, except as provided in Section 9 hereof9. As used in this Agreement, the term “Purchaser” includes any person substituted for a Purchaser under this Section 8. Nothing herein will relieve a defaulting Purchaser from liability for its default.

Default of Purchasers. If any Purchaser or Purchasers default in their obligations to purchase Offered Securities hereunder and the aggregate principal amount of Offered Securities that such defaulting Purchaser or Purchasers agreed but failed to purchase does not exceed 10% of the total principal amount of Offered Securities that the Purchasers are obligated to purchase on the Closing DateSecurities, the Representative CSFBC may make arrangements satisfactory to the Partnership Company for the purchase of such Offered Securities by other persons, including any of the non-defaulting 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 on the Closing Datepurchase. 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 the Closing Date and arrangements satisfactory to the Representative CSFBC and the Partnership Company for the purchase of such Offered Securities by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Purchaser or the PartnershipCompany, except as provided in Section 9 hereof9. The defaulting Purchase or Purchasers shall be required to reimburse the Company for all out-of-pocket expenses (including fees and disbursements of counsel) reasonably incurred by them in connection with the offering of the Offered Securities. As used in this Agreement, the term “"Purchaser” " includes any person substituted for a Purchaser under this Section 8Section. Nothing herein will relieve a defaulting Purchaser from liability for its default.

Default of Purchasers. If any Purchaser or Purchasers default in their obligations to purchase Offered Securities hereunder on either the First Closing Date or any Optional Closing Date and the aggregate principal amount of Offered Securities that such defaulting Purchaser or Purchasers agreed but failed to purchase does not exceed 10% of the total principal amount of Offered Securities that the Purchasers are obligated to purchase on the such Closing Date, the Representative CSFB may make arrangements satisfactory to the Partnership 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 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 the 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 the such Closing Date and arrangements satisfactory to the Representative CSFB and the Partnership Company for the purchase of such Offered Securities by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Purchaser or the PartnershipCompany, except as provided in Section 9 hereof(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). As used in this Agreement, the term “Purchaser” includes any person substituted for a Purchaser under this Section 8Section. Nothing herein will relieve a defaulting Purchaser from liability for its default.

Default of Purchasers. If any Purchaser or Purchasers default in their obligations to purchase Offered Securities hereunder and the aggregate principal amount of the Offered Securities that such defaulting Purchaser or Purchasers agreed but failed to purchase does not exceed 10% of the total principal amount of the Offered Securities that the Purchasers are obligated to purchase on the Closing DateSecurities, the Representative may make arrangements satisfactory to the Partnership 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 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 the Closing Datepurchase. 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 the Closing Date and arrangements satisfactory to the Representative and the Partnership Company for the purchase of such Offered Securities by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Purchaser or the PartnershipCompany, except as provided in Section 9 hereof9. As used in this Agreement, the term “Purchaser” includes any person substituted for a Purchaser under this Section 8Section. Nothing herein will relieve a defaulting Purchaser from liability for its default.

Default of Purchasers. If any Purchaser or Purchasers default in their obligations to purchase purchase—Offered Securities hereunder and the aggregate principal amount of Offered Securities that such defaulting Purchaser or Purchasers agreed but failed to purchase does not exceed 10% of the total total—principal amount amount—of Offered Securities that the Purchasers are obligated to purchase on the Closing DateSecurities, the Representative Banc of America and Credit Suisse may make arrangements satisfactory to the Partnership 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 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 the Closing Datepurchase. If any Purchaser or Purchasers so default and the aggregate 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 the Closing Date and arrangements satisfactory to the Representative Banc of America and Credit Suisse and the Partnership Company for the purchase of such Offered Securities by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Purchaser or the PartnershipCompany, except as provided in Section 9 hereof10. As used in this Agreement, the term “Purchaser” includes any person substituted for a Purchaser under this Section 8Section. Nothing herein will relieve a defaulting Purchaser from liability for its default.

Default of Purchasers. If any Purchaser or Purchasers default in their obligations to purchase Offered Securities hereunder on the Closing Date and the aggregate principal amount of the Offered Securities that such defaulting Purchaser or Purchasers agreed but failed to purchase does not exceed 10% of the total principal amount of the Offered Securities that the Purchasers are obligated to purchase on the Closing Date, the Representative Credit Suisse may make arrangements satisfactory to the Partnership 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 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 the 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 the Closing Date and arrangements satisfactory to the Representative Credit Suisse and the Partnership Company for the purchase of such Offered Securities by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Purchaser or the PartnershipCompany, except as provided in Section 9 hereof9. As used in this Agreement, the term “Purchaser” includes any person substituted for a Purchaser under this Section 8Section. Nothing herein will relieve a defaulting Purchaser from liability for its default.

Default of Purchasers. If any Purchaser or Purchasers default in their obligations to purchase Offered Securities hereunder on the Closing Date and the aggregate principal amount of Offered Securities that such defaulting Purchaser or Purchasers agreed but failed to purchase does not exceed 10% of the total principal amount of Offered Securities that the Purchasers are obligated to purchase on the such Closing Date, the Representative CSFB may make arrangements satisfactory to the Partnership 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 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 the 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 the such Closing Date and arrangements satisfactory to the Representative CSFB and the Partnership Company for the purchase of such Offered Securities by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Purchaser or the PartnershipCompany, except as provided in Section 9 hereof9. As used in this Agreement, the term “Purchaser” includes any person substituted for a Purchaser under this Section 8Section. Nothing herein will relieve a defaulting Purchaser from liability for its default.

Default of Purchasers. If any Purchaser or Purchasers default default(s) in its or their obligations to purchase Offered Securities hereunder on the Closing Date and the aggregate principal amount of Offered Securities that such defaulting Purchaser or Purchasers agreed but failed to purchase does not exceed 10% of the total aggregate principal amount of Offered Securities that the Purchasers are obligated to purchase on the Closing Date, the Representative Representatives may make arrangements satisfactory to the Partnership 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 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 the Closing Date. If any Purchaser or Purchasers so default default(s) and the aggregate principal amount of Offered Securities with respect to which such default or defaults occur exceeds 10% of the total aggregate principal amount of Offered Securities that the Purchasers are obligated to purchase on the Closing Date and arrangements satisfactory to the Representative Representatives and the Partnership Company and Hovnanian for the purchase of such Offered Securities by other persons are not made within 36 48 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Purchaser or the PartnershipCompany or Hovnanian, except as provided in Section 9 hereof10. As used in this Agreement, the term “Purchaser” includes any person substituted for a Purchaser under this Section 8Section. Nothing herein will relieve a defaulting Purchaser from liability for its default.

Default of Purchasers. If any Purchaser or Purchasers default in their obligations to purchase Offered Securities hereunder and the aggregate principal amount of Offered Securities that such defaulting Purchaser or Purchasers agreed but failed to purchase does not exceed 10% of the total principal amount of Offered Securities that the Purchasers are obligated to purchase on the Closing DateSecurities, the Representative Xxxxxxx Xxxxx may make arrangements satisfactory to the Partnership 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 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 the Closing Datepurchase. 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 the Closing Date and arrangements satisfactory to the Representative Xxxxxxx Xxxxx and the Partnership Company for the purchase of such Offered Securities by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Purchaser or the PartnershipCompany, except as provided in Section 9 hereof10. As used in this Agreement, the term “Purchaser” includes any person substituted for a Purchaser under this Section 89. Nothing herein will relieve a defaulting Purchaser from liability for its default.

Default of Purchasers. If any Purchaser or Purchasers default in their obligations to purchase the Offered Securities hereunder on the Closing Date and the aggregate principal amount of the Offered Securities that such defaulting Purchaser or Purchasers agreed but failed to purchase does not exceed 10% of the total principal amount of the Offered Securities that the Purchasers are obligated to purchase on the Closing DateSecurities, the Representative CSFB may make arrangements satisfactory to the Partnership 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 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 the Closing Datepurchase. 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 the Closing Date and arrangements satisfactory to the Representative CSFB and the Partnership Company for the purchase of such Offered Securities by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Purchaser or the PartnershipCompany or any of the Guarantors, except as provided in Section 9 hereof9. As used in this Agreement, the term “Purchaser” "PURCHASER" includes any person substituted for a Purchaser under this Section 8. Nothing herein will relieve a defaulting Purchaser from liability for its default.

Default of Purchasers. If any Purchaser or Purchasers default in their obligations to purchase Offered Securities hereunder and the aggregate principal amount of Offered Securities that such defaulting Purchaser or Purchasers agreed but failed to purchase does not exceed 10% of the total principal amount of Offered Securities that the Purchasers are obligated to purchase on the Closing DateSecurities, the Representative may make arrangements satisfactory to the Partnership 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 on the Closing Datepurchase. 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 the Closing Date and arrangements satisfactory to the Representative and the Partnership for the purchase of such Offered Securities by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Purchaser or the Partnership, except as provided in Section 9 hereof10. As used in this Agreement, the term “Purchaser” includes any person substituted for a Purchaser under this Section 8Section. Nothing herein will relieve a defaulting Purchaser from liability for its default.

Default of Purchasers. If any Purchaser or Purchasers default in their obligations to purchase Offered Securities hereunder on either the First Closing Date or any Optional Closing Date and the aggregate principal amount of the Offered Securities that such defaulting Purchaser or Purchasers agreed but failed to purchase does not exceed 10% of the total principal amount of the Offered Securities that the Purchasers are obligated to purchase on the such Closing Date, the Representative CSFBC may make arrangements satisfactory to the Partnership 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 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 the 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 the such Closing Date and arrangements satisfactory to the Representative CSFBC and the Partnership Company for the purchase of such Offered Securities by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Purchaser or the PartnershipCompany, except as provided in Section 9 hereof(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). As used in this Agreement, the term “"Purchaser” " includes any person substituted for a Purchaser under this Section 8Section. Nothing herein will relieve a defaulting Purchaser from liability for its default.

Default of Purchasers. If any Purchaser or Purchasers default in their obligations to purchase Offered Securities hereunder on the Closing Date and the aggregate principal amount at maturity of Offered Securities that such defaulting Purchaser or Purchasers agreed but failed to purchase does not exceed 10% of the total principal amount of Offered Securities that the Purchasers are obligated to purchase on the Closing Date, the Representative Representatives may make arrangements satisfactory to the Partnership 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 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 the Closing Date. If any Purchaser or Purchasers so default and the aggregate principal amount at maturity 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 the Closing Date and arrangements satisfactory to the Representative Representatives and the Partnership Company for the purchase of such Offered Securities by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Purchaser or the PartnershipCompany, except as provided in Section 9 hereof9. As used in this Agreement, the term “"Purchaser” " includes any person substituted for a Purchaser under this Section 8Section. Nothing herein will relieve a defaulting Purchaser from liability for its default.

Default of Purchasers. If any Purchaser or Purchasers default in their obligations to purchase Offered Securities hereunder and the aggregate principal amount of Offered Securities that such defaulting Purchaser or Purchasers agreed but failed to purchase does not exceed 10% of the total principal amount of Offered Securities that the Purchasers are obligated to purchase on the Closing DateSecurities, the Representative Representatives may make arrangements satisfactory to the Partnership Issuers for the purchase of such Offered Securities by other persons, including any of the other 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 on the Closing Datepurchase. 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 the Closing Date and arrangements satisfactory to the Representative Representatives and the Partnership Issuers for the purchase of such Offered Securities by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Purchaser or the PartnershipIssuers, except as provided in Section 9 hereof10. As used in this Agreement, the term “Purchaser” includes any person substituted for a Purchaser under this Section 8Section. Nothing herein will relieve a defaulting Purchaser from liability for its default.

Default of Purchasers. If any Purchaser or Purchasers default in their obligations to purchase Offered Securities hereunder and the aggregate principal amount of Offered Securities that such defaulting Purchaser or Purchasers agreed but failed to purchase in the aggregate does not exceed 10% of the total principal amount of Offered Securities that the Purchasers are obligated to purchase on the Closing DateSecurities, the Representative CSFB may make arrangements satisfactory to the Partnership 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 Purchasers shall be obligated severally, in proportion to their respective commitments hereunder, to purchase the Offered Securities that such defaulting Purchaser or Purchasers agreed but failed to purchase on the Closing Datepurchase. 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 in the aggregate 10% of the total principal amount of Offered Securities that the Purchasers are obligated to purchase on the Closing Date and arrangements satisfactory to the Representative CSFB and the Partnership Company for the purchase of such Offered Securities by other persons are not made within 36 hours after such defaultdefault or defaults, this Agreement will terminate without liability on the part of any non-defaulting Purchaser Purchaser, the Company or the Partnershipany Guarantors, except as provided in Section 9 hereof9. As used in this Agreement, the term “Purchaser” includes any person substituted for a Purchaser under this Section 8. Nothing herein will relieve a defaulting Purchaser from liability for its default.

Default of Purchasers. If any Purchaser or Purchasers default in their obligations to purchase Offered Securities hereunder and the aggregate principal amount of Offered Securities that such defaulting Purchaser or Purchasers agreed but failed to purchase does not exceed 10% of the total principal amount of Offered Securities that the Purchasers are obligated to purchase on the such Closing Date, the Representative Representatives may make arrangements satisfactory to the Partnership 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 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 the Closing Datepurchase. 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 the Closing Date and arrangements satisfactory to the Representative Representatives and the Partnership Company for the purchase of such Offered Securities by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Purchaser or the PartnershipCompany, except as provided in Section 9 hereof9. As used in this Agreement, the term “"Purchaser” " includes any person substituted for a Purchaser under this Section 8Section. Nothing herein will relieve a defaulting Purchaser from liability for its default.

Default of Purchasers. If any Purchaser or Purchasers default in their obligations to purchase Offered Securities hereunder and the aggregate principal amount of Offered Securities that such defaulting Purchaser or Purchasers agreed but failed to purchase does not exceed 10% of the total principal amount of Offered Securities that the Purchasers are obligated to purchase on the Closing DateSecurities, the Representative Representatives may make arrangements satisfactory to the Partnership 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 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 the Closing Datepurchase. 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 the Closing Date and arrangements satisfactory to the Representative Purchasers and the Partnership Company for the purchase of such Offered Securities by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Purchaser or the PartnershipCompany, except as provided in Section 9 hereof10. As used in this Agreement, the term “Purchaser” includes any person substituted for a Purchaser under this Section 89. Nothing herein will relieve a defaulting Purchaser from liability for its default.

Default of Purchasers. If any Purchaser or Purchasers default in their obligations to purchase Offered Securities hereunder and the aggregate total principal amount of Offered Securities the Senior Notes, or the total number of Units, that such defaulting Purchaser or Purchasers agreed but failed to purchase does not exceed 10% of the total aggregate principal amount of Offered Securities that the Purchasers are obligated to purchase on Senior Notes, or 10% of the Closing Dateaggregate number of Units, the Representative NatWest may make arrangements satisfactory to the Partnership 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 on the Closing Datepurchase. If any Purchaser or Purchasers so default and the aggregate total principal amount of Offered Securities the Senior Notes, or the total number of Units, with respect to which such default or defaults occur exceeds 10% of the total aggregate principal amount of Offered Securities that the Purchasers are obligated to purchase on Senior Notes, or 10% of the Closing Date aggregate number of Units, and arrangements satisfactory to the Representative NatWest and the Partnership Note Issuers for the purchase of such Offered Securities by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Purchaser or the PartnershipNote Issuers or the Company, except as provided in Section 9 hereof9. As used in this Agreement, the term “"Purchaser” " includes any person substituted for a Purchaser under this Section 8Section. Nothing herein will relieve a defaulting Purchaser from liability for its default.

Default of Purchasers. If any Purchaser or Purchasers default in their obligations to purchase Offered Securities hereunder on either the First Closing Date or any Optional Closing Date and the aggregate principal amount number of Offered Securities that such defaulting Purchaser or Purchasers agreed but failed to purchase does not exceed 10% of the total principal amount number of Offered Securities that the Purchasers are obligated to purchase on the such Closing Date, the Representative Representatives may make arrangements satisfactory to the Partnership 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 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 the such Closing Date. If any Purchaser or Purchasers so default and the aggregate principal amount number of Offered Securities with respect to which such default or defaults occur exceeds 10% of the total principal amount number of shares of Offered Securities that the Purchasers are obligated to purchase on the such Closing Date and arrangements satisfactory to the Representative Representatives and the Partnership Company for the purchase of such Offered Securities by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Purchaser or the PartnershipCompany, except as provided in Section 9 hereof10 (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). As used in this Agreement, the term “Purchaser” includes any person substituted for a Purchaser under this Section 8Section. Nothing herein will relieve a defaulting Purchaser from liability for its default.

Default of Purchasers. If any Purchaser or Purchasers default in their obligations to purchase Offered Securities the Notes hereunder on the Closing Date and the aggregate principal amount of Offered Securities the Notes that such defaulting Purchaser or Purchasers agreed but failed to purchase does not exceed 10% of the total principal amount of Offered Securities the Notes that the Purchasers are obligated to purchase on the Closing Date, the Representative may make arrangements satisfactory to the Partnership Company for the purchase of such Offered Securities Notes 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 Notes that such defaulting Purchasers agreed but failed to purchase on the Closing Date. If any Purchaser or Purchasers so default and the aggregate principal amount of Offered Securities the Notes 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 the Closing Date Notes and arrangements satisfactory to the Representative and the Partnership Company for the purchase of such Offered Securities Notes by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Purchaser Purchaser, the Company or the Partnership, any Guarantor except as provided in Section 9 hereof10. As used in this Agreement, the term “Purchaser” includes any person substituted for a Purchaser under this Section 89. Nothing herein will relieve a defaulting Purchaser from liability for its default.

Default of Purchasers. If any Purchaser or Purchasers default defaults in their its obligations to purchase Offered Securities hereunder and the aggregate principal amount of Offered Securities that such defaulting Purchaser or Purchasers agreed but failed to purchase does not exceed 10% of the total principal amount of Offered Securities that the Purchasers are obligated to purchase on the Closing DateSecurities, the Representative non defaulting Purchaser may make arrangements satisfactory to the Partnership Company for the purchase of such Offered Securities by other persons, including any of the Purchasersnon defaulting Purchaser, 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 on the Closing Datepurchase. If any either Purchaser or Purchasers so default defaults 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 the Closing Date and arrangements satisfactory to the Representative non defaulting Purchaser and the Partnership Company for the purchase of such Offered Securities by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Purchaser or the PartnershipCompany, except as provided in Section 9 hereof10. As used in this Agreement, the term “Purchaser” includes any person substituted for a Purchaser under this Section 8Section. Nothing herein will relieve a defaulting Purchaser from liability for its default.

Default of Purchasers. If any Purchaser or Purchasers default in their obligations to purchase Offered Securities hereunder and the aggregate principal amount number of shares of Offered Securities that such defaulting Purchaser or Purchasers agreed but failed to purchase does not exceed 10% of the total principal amount number of shares of Offered Securities that Securities, the Purchasers are obligated to purchase on the Closing Date, the Representative may make arrangements satisfactory to the Partnership Sellers 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 on the Closing Datepurchase. If any Purchaser or Purchasers so default and the aggregate principal amount number of shares of Offered Securities with respect to which such default or defaults occur exceeds 10% of the total principal amount number of shares of Offered Securities that the Purchasers are obligated to purchase on the Closing Date and arrangements satisfactory to the Representative Purchasers and the Partnership Sellers for the purchase of such Offered Securities by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Purchaser or the PartnershipSellers, except as provided in Section 9 hereof9. As used in this Agreement, the term “"Purchaser” " includes any person substituted for a Purchaser under this Section 8Section. Nothing herein will relieve a defaulting Purchaser from liability for its default.

Default of Purchasers. If any Purchaser or Purchasers default defaults in their its obligations to purchase Offered Securities hereunder and the aggregate principal amount of Offered Securities that such defaulting Purchaser or Purchasers agreed but failed to purchase does not exceed 10% of the total principal amount of Offered Securities that the Purchasers are obligated to purchase on the Closing DateSecurities, the Representative Lxxxxx may make arrangements satisfactory to the Partnership Company for the purchase of such Offered Securities by other persons, including any of the PurchasersPurchaser, 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 Purchaser agreed but failed to purchase on the Closing Datepurchase. If any Purchaser or Purchasers so default defaults 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 the Closing Date and arrangements satisfactory to the Representative Lxxxxx and the Partnership Company for the purchase of such Offered Securities by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Purchaser or the PartnershipCompany, except as provided in Section 9 hereof10. As used in this Agreement, the term “Purchaser” includes any person substituted for a Purchaser under this Section 8Section. Nothing herein will relieve a defaulting Purchaser from liability for its default.

Default of Purchasers. If any Purchaser or Purchasers default in their obligations to purchase Offered Securities hereunder and the aggregate principal amount of Offered Securities that such defaulting Purchaser or Purchasers agreed but failed to purchase does not exceed 10% of the total principal amount of Offered Securities that the Purchasers are obligated to purchase on the Closing DateSecurities, the Representative Credit Suisse and Xxxxxx may make arrangements satisfactory to the Partnership 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 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 the Closing Datepurchase. 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 the Closing Date and arrangements satisfactory to the Representative Credit Suisse and Xxxxxx and the Partnership Company for the purchase of such Offered Securities by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Purchaser or the PartnershipCompany, except as provided in Section 9 hereof10. As used in this Agreement, the term “Purchaser” includes any person substituted for a Purchaser under this Section 8Section. Nothing herein will relieve a defaulting Purchaser from liability for its default.

Default of Purchasers. If any Purchaser or Purchasers default in their obligations to purchase Offered Securities hereunder and the aggregate principal amount of Offered Securities that such defaulting Purchaser or Purchasers agreed but failed to purchase does not exceed 10% of the total principal amount of Offered Securities that the Purchasers are obligated to purchase on the Closing DateSecurities, the Representative may make arrangements satisfactory to the Partnership 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 on the Closing Datepurchase. 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 the Closing Date and arrangements satisfactory to the Representative and the Partnership Issuers for the purchase of such Offered Securities by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Purchaser or the PartnershipIssuers, except as provided in Section 9 hereof10. As used in this Agreement, the term “Purchaser” includes any person substituted for a Purchaser under this Section 8Section. Nothing herein will relieve a defaulting Purchaser from liability for its default.

Default of Purchasers. If any Purchaser or Purchasers default in their obligations to purchase Offered Securities hereunder and the aggregate principal amount of Offered Securities that such defaulting Purchaser or Purchasers agreed but failed to purchase does not exceed 10% of the total principal amount of Offered Securities that the Purchasers are obligated to purchase on the Closing DateSecurities, the Representative Representatives may make arrangements satisfactory to the Partnership 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 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 the Closing Datepurchase. 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 the Closing Date and arrangements reasonably satisfactory to the Representative Representatives and the Partnership Company for the purchase of such Offered Securities by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Purchaser or the PartnershipCompany, except as provided in Section 9 hereof10. As used in this Agreement, the term “Purchaser” includes any person substituted for a Purchaser under this Section 8Section. Nothing herein will relieve a defaulting Purchaser from liability for its default.

Default of Purchasers. If any Purchaser or Purchasers default in their obligations to purchase Offered Securities hereunder on either the First Closing Date or any Optional Closing Date and the aggregate principal amount of the Offered Securities that such defaulting Purchaser or Purchasers agreed but failed to purchase does not exceed 10% of the total principal amount of the Offered Securities that the Purchasers are obligated to purchase on the such Closing Date, the Representative CSFBC may make arrangements satisfactory to the Partnership 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 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 the 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 the such Closing Date and arrangements satisfactory to the Representative CSFBC and the Partnership Company for the purchase of such Offered Securities by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Purchaser or the PartnershipCompany, except as provided in Section 9 hereof(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). As used in this Agreement, the term “Purchaser” includes any person substituted for a Purchaser under this Section 8Section. Nothing herein will relieve a defaulting Purchaser from liability for its default.

Default of Purchasers. If If, on the Closing Date, any Purchaser of the Purchasers shall fail or Purchasers default in their obligations 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 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 Representative may make Offered Securities in an aggregate principal amount that exceeds 10% of such total principal amount and arrangements satisfactory to the Partnership other Purchaser or Purchasers and the 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 on the 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 the Closing Date and arrangements satisfactory to the Representative and the Partnership for the purchase of such Offered Securities by other persons are not made within 36 48 hours after such default, this Agreement will shall terminate without liability on the part of any the non-defaulting Purchaser or the PartnershipIssuers and the General Partner, except as otherwise provided in Section 9 hereof9. As used In any such case that does not result in termination of this Agreement, the term “Purchaser” includes 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 person substituted for a Purchaser other documents or arrangements may be effected. Any action taken under this Section 8. Nothing herein will paragraph shall not relieve a defaulting Purchaser from liability for its defaultin respect of any default by any such Purchaser under this Agreement.

Default of Purchasers. If any Purchaser or Purchasers default in their obligations to purchase Offered Securities Notes hereunder on the Closing Date and the aggregate principal amount of Offered Securities the Notes that such defaulting Purchaser or Purchasers agreed but failed to purchase does not exceed 10% of the total principal amount of Offered Securities that the Purchasers are obligated to purchase on the Closing DateNotes, the Representative Representatives may make arrangements satisfactory to the Partnership Company for the purchase of such Offered Securities Notes by other persons, including any of the Purchasers, but if no such arrangements are made by the such Closing Date, the non-defaulting Purchasers shall be obligated severally, in proportion to their respective commitments hereunder, to purchase the Offered Securities Notes that such defaulting Purchasers agreed but failed to purchase on the Closing Date. If any Purchaser or Purchasers so default and the aggregate principal amount of Offered Securities Notes with respect to which such default or defaults occur exceeds 10% of the total principal amount of Offered Securities the Notes that the Purchasers are obligated required to purchase on the Closing Date and arrangements satisfactory to the Representative Representatives and the Partnership Company for the purchase of such Offered Securities Notes by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Purchaser or the PartnershipCompany, except as provided in Section 9 hereof10. As used in this Agreement, the term “Purchaser” includes any person substituted for a Purchaser under this Section 8Section. Nothing herein will relieve a defaulting Purchaser from liability for its default.

Default of Purchasers. If any Purchaser or Purchasers default in their obligations to purchase Offered Securities hereunder and the aggregate principal amount of Offered Securities that such defaulting Purchaser or Purchasers agreed but failed to purchase does not exceed 10% of the total principal amount of Offered Securities that the Purchasers are obligated to purchase on the such Closing Date, the Representative Credit Suisse may make arrangements satisfactory to each of the Partnership Company, Deutsche Bank Securities Inc., and X.X. Xxxxxx Securities Inc. for the purchase of such Offered Securities by other persons, including any of the Purchasers, but if no such arrangements are made by the 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 the 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 the such Closing Date and arrangements satisfactory to the Representative Credit Suisse and the Partnership Company, Deutsche Bank Securities Inc., and X.X. Xxxxxx Securities Inc. for the purchase of such Offered Securities by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Purchaser or the PartnershipCompany, except as provided in Section 9 hereof10. As used in this Agreement, the term “Purchaser” includes any person substituted for a Purchaser under this Section 8Section. Nothing herein will relieve a defaulting Purchaser from liability for its default.

Default of Purchasers. If any either Purchaser or Purchasers default defaults in their its obligations to purchase Offered Securities hereunder and the aggregate principal amount of the Offered Securities that such defaulting Purchaser or Purchasers agreed but failed to purchase does not exceed 10% of the total principal amount of the Offered Securities that the Purchasers are obligated to purchase on the Closing DateSecurities, the Representative non-defaulting Purchaser may make arrangements satisfactory to the Partnership Company for the purchase of such Offered Securities by other personspersons (provided that such persons shall not cause the offer, including any sale or issuance of the PurchasersOffered 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), but if no such arrangements are made by the Closing Date, the non-defaulting Purchasers Purchaser shall be obligated severally, in proportion to their respective commitments hereunder, to purchase the Offered Securities that such the defaulting Purchasers Purchaser agreed but failed to purchase on the Closing Datepurchase. If any either Purchaser or Purchasers so default defaults and the aggregate principal amount of the Offered Securities with respect to which such default or defaults occur occurs exceeds 10% of the total principal amount of the Offered Securities that the Purchasers are obligated to purchase on the Closing Date and arrangements satisfactory to the Representative non-defaulting Purchaser and the Partnership Company for the purchase of such Offered Securities by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any the non-defaulting Purchaser or the PartnershipCompany, except as provided in Section 9 hereof10. As used in this Agreement, the term “Purchaser” includes any person substituted for a Purchaser under this Section 8Section. Nothing herein will relieve a defaulting Purchaser from liability for its default.

Default of Purchasers. If any Purchaser or Purchasers default in their obligations to purchase Offered Securities hereunder on either the First Closing Date or any Optional Closing Date, and the aggregate principal amount of Offered Securities that such defaulting Purchaser or Purchasers agreed but failed to purchase does not exceed 10% of the total principal amount of Offered Securities that the Purchasers are obligated to purchase on the such Closing Date, the Representative CSFBC may make arrangements satisfactory to the Partnership 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 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 the 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 the such Closing Date and arrangements satisfactory to the Representative CSFBC and the Partnership Company for the purchase of such Offered Securities by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Purchaser or the PartnershipCompany, except as provided in Section 9 hereof(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). As used in this Agreement, the term “"Purchaser” " includes any person substituted for a Purchaser under this Section 8Section. Nothing herein will relieve a defaulting Purchaser from liability for its default.

Default of Purchasers. If any Purchaser or Purchasers default in their obligations to purchase Offered Securities hereunder on the Closing Date and the aggregate principal amount of Offered Securities that such defaulting Purchaser or Purchasers agreed but failed to purchase does not exceed 10% of the total principal amount of Offered Securities that the Purchasers are obligated to purchase on the Closing Date, the Representative may make arrangements satisfactory to the Partnership 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 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 the 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 the Closing Date and arrangements satisfactory to the Representative and the Partnership Company for the purchase of such Offered Securities by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Purchaser or the PartnershipCompany, except as provided in Section 9 hereof10. As used in this Agreement, the term “Purchaser” includes any person substituted for a Purchaser under this Section 8Section. Nothing herein will relieve a defaulting Purchaser from liability for its default.

Default of Purchasers. If any Purchaser or Purchasers default in their obligations to purchase Offered Securities Shares hereunder on either the First Closing Date or any Optional Closing Date and the aggregate principal amount number of Offered Securities Shares that such defaulting Purchaser or Purchasers agreed but failed to purchase does not exceed 10% of the total principal amount aggregate number of Offered Securities that Shares to be purchased on such date, the Purchasers are shall be obligated to purchase on the such Closing Date, the Representative Representatives may make arrangements satisfactory to the Partnership Company for the purchase of such Offered Securities Shares by other persons, including any of the Purchasers, but if no such arrangements are made by the such Closing Date, the non-defaulting Purchasers shall be obligated severally, in the proportions that the number of Firm Shares set forth opposite proportion to their respective commitments hereundernames 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 Offered Securities Shares that such defaulting Purchasers agreed but failed to purchase purchase. If, on the First Closing Date. If , any Purchaser or Purchasers so default and the aggregate principal amount number of Offered Securities Firm Shares with respect to which such default or defaults occur exceeds 10% of the total principal amount aggregate number of Offered Securities that the Purchasers are obligated to purchase on the Closing Date Firm Shares and arrangements satisfactory to the Representative Representatives and the Partnership Company for the purchase of such Offered Securities Firm Shares by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Purchaser or the PartnershipCompany, except as provided in Section 9 hereof8. If, on the Optional Closing Date, any Purchaser or Purchasers so default and the aggregate number of Optional Shares with respect to which such 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 such non-defaulting Purchasers would have been obligated to purchase in the absence of such default. As used in this Agreement, the term “Purchaser” includes any person substituted for a Purchaser under this Section 8Section. Nothing herein will relieve a defaulting Purchaser from liability for its default.

Default of Purchasers. If any Purchaser or Purchasers default in their obligations to purchase Offered Securities hereunder and the aggregate principal amount of Offered Securities that such defaulting Purchaser or Purchasers agreed but failed to purchase does not exceed 10% of the total principal amount of Offered Securities that the Purchasers are obligated to purchase on the Closing DateSecurities, the Representative non-defaulting Purchaser may make arrangements satisfactory to the Partnership 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 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 the Closing Datepurchase. 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 the Closing Date and arrangements satisfactory to the Representative non-defaulting Purchaser and the Partnership Company for the purchase of such Offered Securities by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Purchaser or the PartnershipCompany, except as provided in Section 9 hereof9. As used in this Agreement, the term “"Purchaser” " includes any person substituted for a Purchaser under this Section 8Section. Nothing herein will relieve a defaulting Purchaser from liability for its default.

Default of Purchasers. If any Purchaser or Purchasers default in their obligations to purchase Offered Securities hereunder and the aggregate principal amount of the Offered Securities that such defaulting Purchaser or Purchasers agreed but failed to purchase does not exceed 10% of the total principal amount of the Offered Securities that the Purchasers are obligated to purchase on the Closing DateSecurities, the Representative Representatives may make arrangements satisfactory to the Partnership Company for the purchase of such Offered Securities by other personspersons (provided that such persons shall not cause the 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 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 on the Closing Datepurchase. 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 the Closing Date and arrangements satisfactory to the Representative Representatives and the Partnership Company for the purchase of such Offered Securities by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Purchaser or the PartnershipCompany, except as provided in Section 9 hereof10. As used in this Agreement, the term “Purchaser” includes any person substituted for a Purchaser under this Section 8Section. Nothing herein will relieve a defaulting Purchaser from liability for its default.

Default of Purchasers. If any Purchaser or Purchasers default in their obligations to purchase Offered Securities hereunder on either the First Closing Date or any Optional Closing Date and the aggregate principal amount of the Offered Securities that such defaulting Purchaser or Purchasers agreed but failed to purchase does not exceed 10% of the total principal amount of the Offered Securities that the Purchasers are obligated to purchase on the such Closing Date, the Representative CSFB may make arrangements satisfactory to the Partnership 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 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 the 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 the such Closing Date and arrangements satisfactory to the Representative CSFB and the Partnership Company for the purchase of such Offered Securities by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Purchaser or the PartnershipCompany, except as provided in Section 9 hereof(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). As used in this Agreement, the term “"Purchaser” " includes any person substituted for a Purchaser under this Section 8Section. Nothing herein will relieve a defaulting Purchaser from liability for its default.

Default of Purchasers. If any Purchaser or Purchasers default in their obligations to purchase Offered Securities hereunder and the aggregate principal amount of the Offered Securities that such defaulting Purchaser or Purchasers agreed but failed to purchase does not exceed 10% of the total principal amount of the Offered Securities that the Purchasers are obligated to purchase on the Closing DateSecurities, the Representative JPMorgan may make arrangements satisfactory to the Partnership 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 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 the Closing Datepurchase. 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 the Closing Date and arrangements satisfactory to the Representative JPMorgan and the Partnership Company for the purchase of such Offered Securities by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Purchaser or the PartnershipCompany, except as provided in Section 9 hereof10. As used in this Agreement, the term “Purchaser” includes any person substituted for a Purchaser under this Section 8Section. Nothing herein will relieve a defaulting Purchaser from liability for its default.

Default of Purchasers. If any Purchaser or Purchasers default in their obligations to purchase Offered Securities hereunder on the Closing Date and the aggregate principal amount of Offered Securities that such defaulting Purchaser or Purchasers agreed but failed to purchase does not exceed 10% of the total principal amount of Offered Securities that the Purchasers are obligated to purchase on the Closing Date, the Representative may make arrangements satisfactory to the Partnership 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 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 the 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 the Closing Date and arrangements satisfactory to the Representative Credit Suisse and the Partnership Company for the purchase of such Offered Securities by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Purchaser Purchaser, the Company or the Partnershipany Guarantor, except as provided in Section 9 hereof10. As used in this Agreement, the term “Purchaser” includes any person substituted for a Purchaser under this Section 8Section. Nothing herein will relieve a defaulting Purchaser from liability for its default.

Default of Purchasers. If any Purchaser or Purchasers default default(s) in its or their obligations to purchase Offered Securities hereunder on the Closing Date and the aggregate principal amount of Offered Securities that such defaulting Purchaser or Purchasers agreed but failed to purchase does not exceed 10% of the total aggregate principal amount of Offered Securities that the Purchasers are obligated to purchase on the Closing Date, the Representative Representatives may make arrangements satisfactory to the Partnership 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 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 the Closing Date. If any Purchaser or Purchasers so default default(s) and the aggregate principal amount of Offered Securities with respect to which such default or defaults occur exceeds 10% of the total aggregate principal amount of Offered Securities that the Purchasers are obligated to purchase on the Closing Date and arrangements satisfactory to the Representative Representatives and the Partnership Company and Hovnanian for the purchase of such Offered Securities by other persons are not made within 36 48 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Purchaser or the PartnershipCompany or Hovnanian, except as provided in Section 9 hereof10. As used in this Agreement, the term “Purchaser” includes any person substituted for a Purchaser under this Section 8. Nothing herein will relieve a defaulting Purchaser from liability for its default.term