Purchase and Sale of the Preferred Securities. (a) The Sellers agree to sell to the Purchaser, and the Purchaser agrees to purchase from the Sellers the Preferred Securities for an amount (the "Purchase Price") equal to Twenty Million Dollars ($20,000,000). The Purchaser shall be responsible for the rating agency costs and expenses. The Sellers shall use the Purchase Price, together with the proceeds from the sale of the Common Securities, to purchase the Junior Subordinated Notes.
Purchase and Sale of the Preferred Securities. (a) The Sellers agree to sell to the Purchaser, and the Purchaser agrees to purchase the preferred securities for an aggregate amount equal to $25,000,000 (the “Purchase Price”). The Purchaser shall be responsible for the rating agency costs and expenses. The Trust shall use the Purchase Price, together with the proceeds from the sale of the Common Securities, to purchase the Junior Subordinated Notes from the Company.
Purchase and Sale of the Preferred Securities. 2.1 The Sellers agree to sell to the Purchaser, and the Purchaser agrees to purchase from the Sellers, the Preferred Securities for an aggregate amount (the "Purchase Price") equal to $3,000,000. In connection with the purchase of the Preferred Securities, the Company shall pay a 0.0% fee (the "Fee") to its introducing agent (the "Introducing Agent") for services rendered. The Purchaser shall be responsible for the following expenses: (i) any rating agency costs and expenses and (ii) any fee payable to the Company's Introducing Agent; provided that such Introducing Agent has an agreement with the Purchaser. The Purchaser shall not be responsible for any expenses set forth in Section 7 hereof unless otherwise provided therein. The Trust shall use the Purchase Price, together with the proceeds from the sale of the Common Securities, to purchase the Junior Subordinated Notes.
Purchase and Sale of the Preferred Securities. (a) The Sellers agree to sell to the Purchaser, and the Purchaser agrees to purchase from the Sellers the Preferred Securities for an amount (the "Purchase Price") equal to Seventeen Million Dollars ($17,000,000) less an amount equal to three percent (3%) thereof (the "Discount"). In view of the fact that the proceeds of the sale of the Preferred Securities and the Common Securities will be used to purchase the Junior Subordinated Notes of the Company, the Discount will be netted from the payment made by the Purchaser to the Trust for the sale of the Preferred Securities and will be netted by the Trust from the amount paid to the Company for the sale of the Junior Subordinated Notes. The Purchaser shall be responsible for the following expenses: (i) rating agency costs and expenses and (ii) any fee payable to the Company's introducing agent, Friedman, Billings, Xxxxxx Group, Inc.; but excluding the fees and expenses set forth in Section 7 hereof. The Sellers shall use the Purchase Price, together with the proceeds from the sale of the Common Securities, to purchase the Junior Subordinated Notes.
Purchase and Sale of the Preferred Securities. (a) The Sellers agree to sell to the Purchaser, and the Purchaser agrees to purchase from the Sellers, the Preferred Securities for an amount (the “Purchase Price”) equal to Twenty-Eight Million One Hundred Twenty-Five Thousand Dollars ($28,125,000); provided, however, that the Sellers’ obligation to sell the Preferred Securities to the Purchaser and consummate the transactions contemplated by this Agreement are conditioned on the purchase of additional Preferred Securities of the Trust pursuant to each of the other purchase agreements, dated as of the date hereof, by and among the Sellers, on the one hand, and the Purchaser named therein, on the other. The Sellers shall use the Purchase Price, together with the proceeds from the sale of the Common Securities, to purchase the Junior Subordinated Notes.
Purchase and Sale of the Preferred Securities. (a) The Trust agrees to sell to the Purchaser, and the Purchaser agrees to purchase from the Trust, Twenty-Eight Million One Hundred Twenty-Five Thousand Dollars ($28,125,000) in aggregate stated liquidation amount of the Preferred Securities for an amount (the “Purchase Price”) equal to Twenty-Eight Million One Hundred Twenty-Five Thousand Dollars ($28,125,000). The Purchaser shall be responsible for the rating agency costs and expenses. The Trust shall use the Purchase Price, together with the proceeds from the sale of the Common Securities, to purchase the Junior Subordinated Notes.
Purchase and Sale of the Preferred Securities. (a) The Sellers agree to sell to the Purchaser, and the Purchaser agrees to purchase from the Sellers, the Preferred Securities for an amount (the "Purchase Price") equal to Twenty Million Dollars ($20,000,000). The Purchaser shall be responsible for the rating agency costs and expenses. The Trust shall use the Purchase Price, together with the proceeds from the sale of the Common Securities, to purchase the Junior Subordinated Notes.
Purchase and Sale of the Preferred Securities. The Sellers agree to sell to the Purchaser, and the Purchaser agrees to purchase from the Sellers, the Preferred Securities in the amount (the “Purchase Price”) equal to an aggregate of $24,000,000. In connection with the purchase of the Preferred Securities, the Company shall pay no fee to its introducing agent (the “Introducing Agent”). The Purchaser shall be responsible for the following expenses: (i) any rating agency costs and expenses, and (ii) any fee payable to the Introducing Agent, provided that the Introducing Agent has an agreement with the Purchaser (the “Fee”); but shall not be responsible for any fees and expenses set forth in Section 7 hereof, unless otherwise provided therein. The Trust shall use the Purchase Price, together with the proceeds from the sale of the Common Securities, to purchase the Junior Subordinated Notes. Delivery or transfer of, and payment for, the Preferred Securities shall be made at 11:00 A.M. New York City time, on July 2, 2007, or such later date (not later than August 2, 2007) as the parties may designate (such date and time of delivery and payment for the Preferred Securities being herein called the “Closing Date”). On the Closing Date, the Preferred Securities shall be transferred and delivered to the Purchaser, or its designee, against the payment of the Purchase Price to the Sellers made by wire transfer in immediately available funds to a U.S. account designated in writing by the Company. Delivery of the Preferred Securities shall be made at such location, and in such names and denominations, as the Purchaser shall designate in advance of the Closing Date. The Sellers agree to have the Preferred Securities available for inspection and checking by the Purchaser in New York City, New York, not later than 2:00 P.M. New York City time, on the business day prior to the Closing Date. The closing for the purchase and sale of the Preferred Securities shall occur at the offices of Thaxxxx Xxxxxxxx & Woox XXP, Two World Financial Center, New York, New York 10281, or such other place as the parties hereto shall agree. The Preferred Securities shall be sold by the Trust, directly or indirectly, to the Purchaser without registration of any of the Preferred Securities or the Junior Subordinated Notes under the Securities Act of 1933, as amended (the “Securities Act”), or any other applicable securities laws in reliance upon exemptions from the registration requirements of the Securities Act and other applicable securities...
Purchase and Sale of the Preferred Securities. (a) The Sellers shall sell to each Purchaser, and each Purchaser shall purchase from the Sellers, the amount of Preferred Securities set forth opposite its name on the signature pages hereto for an aggregate amount (the "PURCHASE PRICE") equal to One Hundred Million Dollars ($100,000,000). The Purchasers shall be responsible for the rating agency costs and expenses. The Sellers shall use the Purchase Price, together with the proceeds from the sale of the Common Securities, to purchase the Junior Subordinated Notes.
Purchase and Sale of the Preferred Securities. (a) The Sellers agree to sell to the Purchaser, and the Purchaser agrees to purchase in the respective amounts set forth by their respective names on the signature page hereto from the Sellers the Preferred Securities for an amount (the “Purchase Price”) equal to Thirty Six Million Two Hundred Fifty Thousand Dollars ($36,250,000). The Purchaser shall be responsible for the rating agency costs and expenses. The Sellers shall use the Purchase Price, together with the proceeds from the sale of the Common Securities, to purchase the Junior Subordinated Notes.
