Common use of Deferral of Obligation to Purchase Clause in Contracts

Deferral of Obligation to Purchase. The obligation of the Company to purchase Notes pursuant to the offers required by Section 1.7(b) and accepted in accordance with Section 1.7(c) is subject to the occurrence of the Change in Control in respect of which such offers and acceptances shall have been made. In the event that such Change in Control does not occur prior to the Change in Control Payment Date in respect thereof, such purchase shall be deferred until and shall be made on the date on which such Change in Control occurs or, if the Company determines that efforts to effect such Change in Control have ceased or have been abandoned, then such offer, acceptances and obligation to purchase shall be deemed to have been rescinded. The Company shall keep each holder of Notes reasonably and timely informed of:

Appears in 1 contract

Samples: Note Agreement (Pameco Corp)

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Deferral of Obligation to Purchase. The obligation of the Company Issuers to purchase Notes pursuant to the offers offer required by Section 1.7(b1.5(b) and accepted in accordance with Section 1.7(c) 1.5(c), is subject to the occurrence of the Change in Control in respect of which such offers and acceptances shall have been made. In the event that such Change in Control does not occur prior to the Change in Control Payment Date in respect thereof, such purchase shall be deferred until and shall be made on the date on which such Change in Control occurs or, if the Company determines Issuers determine that efforts activities to effect such Change in Control have ceased or have been abandoned, then such offer, acceptances and obligation to purchase shall be deemed to have been rescinded. The Company Issuers shall keep each holder of Notes reasonably and timely informed of:

Appears in 1 contract

Samples: Note Agreement (Coho Energy Inc)

Deferral of Obligation to Purchase. The obligation of the Company to purchase Notes pursuant to the offers required by Section 1.7(b1.6(b) and accepted in accordance with Section 1.7(c1.6(c) is subject to the occurrence of the Change in Control in respect of which such offers and acceptances shall have been made. In the event that such Change in Control does not occur prior to the Change in Control Payment Date in respect thereof, such purchase shall be deferred until and shall be made on the date on which such Change in Control occurs or, if the Company determines that efforts to effect such Change in Control have ceased or have been abandoned, then such offer, acceptances and obligation to purchase shall be deemed to have been rescinded. The Company shall keep each holder of Notes reasonably and timely informed of:

Appears in 1 contract

Samples: Note Agreement (World Almanac Education Group Inc)

Deferral of Obligation to Purchase. The obligation of the Company to purchase Notes pursuant to the offers required by Section 1.7(b1.4(b) and accepted or deemed accepted in accordance with Section 1.7(c1.4(c) is subject to the occurrence of the Change in Control in respect of which such offers and acceptances shall have been made. In the event that such Change in Control does not occur prior to the Change in Control Payment Date in respect thereof, such purchase shall be deferred until and shall be made on the date on which such Change in Control occurs or, if the Company determines that efforts to effect such Change in Control have ceased or have been abandoned, then such offer, acceptances and obligation to purchase shall be deemed to have been rescinded. The Company shall keep each holder of Notes reasonably and timely informed of:

Appears in 1 contract

Samples: Note Agreement (Fresh America Corp)

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Deferral of Obligation to Purchase. The obligation of the Company to purchase Notes pursuant to the offers required by Section 1.7(b1.5(b) and accepted or deemed accepted in accordance with Section 1.7(c1.5(c) is subject to the occurrence of the Change in Control in respect of which such offers and acceptances shall have been made. In the event that such Change in Control does not occur prior to the Change in Control Payment Date in respect thereof, such purchase shall be deferred until and shall be made on the date on which such Change in Control occurs or, if the Company determines that efforts to effect such Change in Control have ceased or have been abandoned, then such offer, acceptances and obligation to purchase shall be deemed to have been rescinded. The Company shall keep each holder of Notes reasonably and timely informed of:

Appears in 1 contract

Samples: Securities Purchase Agreement (Able Telcom Holding Corp)

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