Common use of Default of Purchasers Clause in Contracts

Default of Purchasers. If any Purchaser or Purchasers default in their obligations to purchase Securities hereunder on the Closing Date and the aggregate principal amount of the Securities that such defaulting Purchaser or Purchasers agreed but failed to purchase does not exceed 10% of the total principal amount of the Securities, the Representative may make arrangements satisfactory to the Company for the purchase of such Securities by other persons, including any of the Purchasers, but if no such arrangements are made by such Closing Date, the non-defaulting Purchasers shall be obligated severally, in proportion to their respective commitments hereunder, to purchase the Securities that such defaulting Purchasers agreed but failed to purchase on the Closing Date. If any Purchaser or Purchasers so default and the aggregate principal amount of Securities with respect to which such default or defaults occur exceeds 10% of the total principal amount of the Securities that Purchasers are required to purchase

Default of Purchasers. If any Purchaser or Purchasers default in their obligations to purchase Securities Purchased Notes hereunder on the Closing Date and the aggregate principal amount of the Securities that Purchased Notes which such defaulting Purchaser or Purchasers agreed but failed to purchase does not exceed is 10% of the total principal amount of the SecuritiesPurchased Notes or less, the Representative you may make arrangements satisfactory to the Company for the purchase of such Securities Purchased Notes by other persons, including any of the Purchasers, but if no such arrangements are made by such the Closing Date, Date the non-defaulting Purchasers shall be obligated severally, in proportion to their respective commitments hereunder, to purchase the Securities that Purchased Notes which 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 Securities Purchased Notes with respect to which such default or defaults occur exceeds 10% is more than the above percentage and arrangements satisfactory to you and the Company for the purchase of the total principal amount of the Securities that Purchasers such Purchased Notes by other persons are required to purchasenot made within thirty-six hours

Default of Purchasers. If any Purchaser or Purchasers default in their obligations to purchase Securities hereunder on the Closing Date and the aggregate principal amount of the Securities that such defaulting Purchaser or Purchasers agreed but failed to purchase does not exceed 10% of the total principal amount of the Securities, the Representative Representatives may make arrangements satisfactory to the Company for the purchase of such Securities by other persons, including any of the Purchasers, but if no such arrangements are made by such Closing Date, the non-defaulting Purchasers shall be obligated severally, in proportion to their respective commitments hereunder, to purchase the Securities that such defaulting Purchasers agreed but failed to purchase on the Closing Date. If any Purchaser or Purchasers so default and the aggregate principal amount of Securities with respect to which such default or defaults occur exceeds 10% of the total principal amount of the Securities that Purchasers are required to purchasepurchase on the Closing Date and arrangements satisfactory to the Representatives and the Company for the purchase of such Securities by other persons are not made within 36 hours after such default, this Agreement will

Default of Purchasers. If any Purchaser or Purchasers default in their obligations to purchase Securities Purchased Notes hereunder on the Closing Date and the aggregate principal amount of the Securities that Purchased Notes which such defaulting Purchaser or Purchasers agreed but failed to purchase does not exceed is 10% of the total principal amount of the SecuritiesPurchased Notes or less, the Representative you may make arrangements satisfactory to the Company for the purchase of such Securities Purchased Notes by other persons, including any of the Purchasers, but if no such arrangements are made by such the Closing Date, Date the non-defaulting Purchasers shall be obligated severally, in proportion to their respective commitments hereunder, to purchase the Securities that Purchased Notes which 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 Securities Purchased Notes with respect to which such default or defaults occur exceeds is more than the above percentage and arrangements satisfactory to you and the Company for the purchase of such Purchased Notes by other persons are not made within thirty-six hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Purchaser or the Company, except as provided in Section 10% of . In the total principal amount of the Securities event that any Purchaser or Purchasers are required to purchasedefault in their