Common use of Obligation to Purchase Several, Not Joint Clause in Contracts

Obligation to Purchase Several, Not Joint. It is understood that, in making the Terms Agreement, the Underwriters are contracting severally and not jointly, and that their several agreements to purchase and resell the Securities on the basis of the agreements and representations herein contained shall be several and not joint and shall apply only to the respective principal amounts or number of the Securities to be purchased by them as provided herein.

Obligation to Purchase Several, Not Joint. It is understood that, in making the Terms this Agreement, the Underwriters are contracting severally and not jointly, and that their several agreements to purchase and resell the Securities on the basis of the agreements and representations herein contained shall be several and not joint and shall apply only to the respective principal amounts or number of the Securities to be purchased by them as provided herein.

Obligation to Purchase Several, Not Joint. It is understood that, in making the Terms this Agreement, the Underwriters are contracting severally and not jointly, and that their several agreements to purchase and resell the Underwritten Securities on the basis of the agreements and representations herein contained shall be several and not joint and shall apply only to the respective principal amounts or number of the Underwritten Securities to be purchased by them as provided herein.

Obligation to Purchase Several, Not Joint. It is understood that, in making the Terms this Agreement, the Underwriters are contracting severally and not jointly, and that their several agreements to purchase and resell the Underwritten Securities on the basis of the agreements and representations herein contained shall be several and not joint and shall apply only to the respective principal amounts or number of the Underwritten Securities to be purchased by them as provided herein.