Common use of Failure to Purchase the Notes Clause in Contracts

Failure to Purchase the Notes. If any Underwriter or Underwriters default in its obligations to purchase the principal amount of Notes opposite such Underwriter’s name on Schedule A hereto, the nondefaulting Underwriters may make arrangements satisfactory to the nondefaulting Underwriters and the Sponsor for the purchase of such Notes by other persons, including the nondefaulting Underwriters. If such arrangements satisfactory to the nondefaulting Underwriters and the Sponsor are not made and the nondefaulting Underwriters do not elect to purchase the Notes which the defaulting Underwriter agreed but failed to purchase, this Agreement will terminate without liability on the part of the non-defaulting Underwriters or the Sponsor except for the expenses to be paid or reimbursed by the Sponsor pursuant to Sections 4.G. and 6 hereof. Nothing herein will relieve a defaulting Underwriter or Underwriters from liability for its default. As used in this Agreement, the term “Underwriter” includes, for all purposes of this Agreement unless the context otherwise requires, any party not listed in Schedule 1 hereto who, pursuant to this Section 8, purchases Notes which a defaulting Underwriter agreed but failed to purchase.

Failure to Purchase the Notes. If any Underwriter or Underwriters default in its obligations to purchase the principal amount of Notes opposite such Underwriter’s name on Schedule A hereto, the nondefaulting Underwriters may make arrangements satisfactory to the nondefaulting Underwriters and the Sponsor for the purchase of such Notes by other persons, including the nondefaulting Underwriters. If such arrangements satisfactory to the nondefaulting Underwriters and the Sponsor are not made and the nondefaulting Underwriters do not elect to purchase the Notes which the defaulting Underwriter agreed but failed to purchase, this Agreement will terminate without liability on the part of the non-defaulting Underwriters or the Sponsor except for the expenses to be paid or reimbursed by the Sponsor to the non-defaulting Underwriters pursuant to Sections 4.G. and 6 hereof. Nothing herein will relieve a defaulting Underwriter or Underwriters from liability for its default. As used in this Agreement, the term “Underwriter” includes, for all purposes of this Agreement unless the context otherwise requires, any party not listed in Schedule 1 hereto who, pursuant to this Section 8, purchases Notes which a defaulting Underwriter agreed but failed to purchase.

Failure to Purchase the Notes. If any Underwriter or Underwriters default in its obligations to purchase the principal amount of Notes opposite such Underwriter’s name on Schedule A hereto, the nondefaulting Underwriters Underwriter may make arrangements satisfactory to the nondefaulting Underwriters Underwriter and the Sponsor for the purchase of such Notes by other persons, including the nondefaulting UnderwritersUnderwriter. If such arrangements satisfactory to the nondefaulting Underwriters Underwriter and the Sponsor are not made and the nondefaulting Underwriters do Underwriter does not elect to purchase the Notes which the defaulting Underwriter agreed but failed to purchase, this Agreement will terminate without liability on the part of the non-defaulting Underwriters Underwriter or the Sponsor except for the expenses to be paid or reimbursed by the Sponsor pursuant to Sections 4.G. and 6 hereof. Nothing herein will relieve a defaulting Underwriter or Underwriters from liability for its default. As used in this Agreement, the term “Underwriter” includes, for all purposes of this Agreement unless the context otherwise requires, any party not listed in Schedule 1 hereto who, pursuant to this Section 8, purchases Notes which a defaulting Underwriter agreed but failed to purchase.

Failure to Purchase the Notes. If any Underwriter or Underwriters default in its obligations to purchase the principal amount of Notes opposite such Underwriter’s 's name on Schedule A hereto, the nondefaulting Underwriters Underwriter may make arrangements satisfactory to the nondefaulting Underwriters Underwriter and the Sponsor for the purchase of such Notes by other persons, including the nondefaulting UnderwritersUnderwriter. If such arrangements satisfactory to the nondefaulting Underwriters Underwriter and the Sponsor are not made and the nondefaulting Underwriters do Underwriter does not elect to purchase the Notes which the defaulting Underwriter agreed but failed to purchase, this Agreement will terminate without liability on the part of the non-defaulting Underwriters Underwriter or the Sponsor except for the expenses to be paid or reimbursed by the Sponsor pursuant to Sections 4.G. and 6 hereof. Nothing herein will relieve a defaulting Underwriter or Underwriters from liability for its default. As used in this Agreement, the term “"Underwriter” " includes, for all purposes of this Agreement unless the context otherwise requires, any party not listed in Schedule 1 hereto who, pursuant to this Section 8, purchases Notes which a defaulting Underwriter agreed but failed to purchase.