Common use of Fails Clause in Contracts

Fails. In the event that a purchaser shall fail to accept delivery of and make payment for a Certificated Note on the settlement date, the Presenting Agent will notify the Trustee and the Issuer, by telephone, confirmed in writing. If such Certificated Note has been delivered to the Presenting Agent, as the Issuer's agent, the Presenting Agent stall return such Note to the Trustee. If funds have been advanced for the purchase of such Note, the Trustee will, immediately upon receipt of such Note, debit the account of the Issuer for the amount so advanced and the Trustee shall refund the payment previously made by the Presenting Agent in immediately available funds. Such payments, will be made on the settlement date, if possible, and in any event not later than the Business Day following the settlement date. If the fail shall have occurred for any reason other than the failure of the Presenting Agent to provide the Purchase Information to the Issuer or to provide a confirmation to the purchaser, the Issuer will reimburse the Presenting Agent on an equitable basis for its loss of the use of funds during the period when the funds were credited to the account of the Issuer. Immediately upon receipt of the Certificated Note in respect of which the fail occurred, the Trustee will make appropriate entries in its records to reflect the fact that the Note was never issued and the Note will be canceled and disposed of as provided in the Indenture.

Fails. In the event that a purchaser shall fail to accept delivery of and make payment for a Certificated Note on the settlement dateSettlement Date, the Presenting Agent Dealer will notify the Trustee Fiscal Agent and the Issuer, by telephone, confirmed in writing. If such Certificated Note has been delivered to the Presenting AgentDealer, as the Issuer's agent’s dealer, the Presenting Agent stall Dealer shall return such Note to the TrusteeFiscal Agent. If funds have been advanced for the purchase of such Note, the Trustee Fiscal Agent will, immediately upon receipt of such Note, debit the account of the Issuer for the amount so advanced and the Trustee Fiscal Agent shall refund the payment previously made by the Presenting Agent Dealer in immediately available funds. Such payments, payments will be made on the settlement dateSettlement Date, if possible, and in any event not later than the Business Day following the settlement dateSettlement Date. If the fail shall have occurred for any reason other than the failure of the Presenting Agent Dealer to provide the Purchase Information to the Issuer or to provide a confirmation to the purchaser, the Issuer will reimburse the Presenting Agent Dealer on an equitable basis for its loss of the use of funds during the period when the funds were credited to the account of the Issuer. Immediately upon receipt of the Certificated Note in respect of which the fail occurred, the Trustee Fiscal Agent will make appropriate entries in its records to reflect the fact that the Note was never issued and the Note will be canceled and disposed of as provided in the IndentureAmended and Restated Fiscal Agency Agreement.

Fails. In the event that a purchaser shall fail to accept delivery of and make payment for a Certificated Note on the settlement date, the Presenting Agent will notify the Trustee and the Issuer, Issuer by telephone, confirmed in writing. If such the Certificated Note has been delivered to the Presenting Agent, as the Issuer's agent, the Presenting Agent stall will return such Certificated Note to the Trustee. If funds have been advanced by the Presenting Agent for the purchase of such Certificated Note, the Trustee will, immediately upon receipt of such Certificated Note, debit the account of the Issuer for the amount so advanced and the Trustee shall Issuer will refund the payment previously made by the Presenting Agent in immediately available funds. Such payments, payment will be made on the settlement date, if possible, and in any event not later than the Business Day following the settlement date. If the such fail shall have occurred for any reason other than the failure of the Presenting Agent to provide the Purchase Information to the Trustee and the Issuer or to provide a confirmation to the purchaser, the Issuer will reimburse the Presenting Agent on an equitable basis for its loss of the use of funds during the period when the funds they were credited to the account of the Issuer. Immediately upon receipt of the Certificated Note in respect of which the fail occurred, the Trustee will cause the Security Registrar to make appropriate entries in its records to reflect the fact that the Certificated Note was never issued and the Certificated Note will be canceled and disposed of as provided in the Indenture.