Common use of Defaults of Underwriters Clause in Contracts

Defaults of Underwriters. (a) If any Underwriter shall default in its obligation to purchase Underwriters' Offered Debt Securities which it has agreed to purchase hereunder, the Representatives may in their discretion arrange for themselves or another party or other parties to purchase such Underwriters' Offered Debt Securities on the terms contained herein. If within twenty-four hours

Appears in 3 contracts

Samples: Underwriting Agreement (American General Finance Corp), Underwriting Agreement (American General Finance Corp), Underwriting Agreement (American General Finance Corp)

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