Common use of Purchase and Sale of the Preferred Securities Clause in Contracts

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.

Appears in 1 contract

Samples: Purchase Agreement (Extra Space Storage Inc.)

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Purchase and Sale of the Preferred Securities. (a) The Sellers agree Trust agrees to sell to the Purchaser, and the Purchaser agrees to purchase from the preferred securities Trust, Fifty Million Dollars ($50,000,000) in aggregate stated liquidation amount of the Preferred Securities for immediately available funds in an aggregate amount equal to $25,000,000 (the “Purchase Price”) equal to Fifty Million Dollars ($50,000,000). 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 from the CompanyNotes.

Appears in 1 contract

Samples: Preferred Securities Purchase Agreement (New Century Financial Corp)

Purchase and Sale of the Preferred Securities. (a) The Sellers Trust agree to sell to the Purchaser, and the Purchaser agrees to purchase in the preferred securities respective amounts set forth by their respective names on the signature page hereto from the Trust, the Preferred Securities for an aggregate amount equal to $25,000,000 (the “Purchase Price”) equal to Fifty Million Dollars ($50,000,000). 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 from the CompanyNotes.

Appears in 1 contract

Samples: Purchase Agreement (Novastar Financial Inc)

Purchase and Sale of the Preferred Securities. (a) The Sellers agree Trust agrees to sell to the Purchaser, and the Purchaser agrees to purchase from the preferred securities Trust, the Preferred Securities for an aggregate amount (the "Purchase Price") equal to Fifty Million Dollars ($25,000,000 (the “Purchase Price”50,000,000). 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 from the CompanyNotes.

Appears in 1 contract

Samples: Purchase Agreement (Equity Inns Inc)

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 15,000,000 (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.

Appears in 1 contract

Samples: Purchase Agreement (Extra Space Storage Inc.)

Purchase and Sale of the Preferred Securities. (a) The Sellers agree Trust agrees to sell to the Purchaser, and the Purchaser agrees to purchase from the preferred securities Trust the Preferred Securities for an aggregate amount (the "Purchase Price") equal to $25,000,000 (the “Purchase Price”)17,500,000. 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 from the CompanyNotes.

Appears in 1 contract

Samples: Purchase Agreement (Capstead Mortgage Corp)

Purchase and Sale of the Preferred Securities. (a) The Sellers agree Trust agrees to sell to the Purchaser, and the Purchaser agrees to purchase from the preferred securities Trust, the Preferred Securities for an aggregate amount equal to $25,000,000 (the “Purchase Price”) equal to Thirty Five Million Dollars ($35,000,000). The Purchaser shall be responsible for the any 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 CompanyNotes.

Appears in 1 contract

Samples: Purchase Agreement (Novastar Financial Inc)

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Purchase and Sale of the Preferred Securities. (a) The Sellers agree Trust agrees to sell to the Purchaser, and the Purchaser agrees to purchase from the preferred securities Trust, the Preferred Securities for an aggregate amount (the "Purchase Price") equal to Fifty Million Dollars ($25,000,000 (the “Purchase Price”50,000,000). 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 from the Company.

Appears in 1 contract

Samples: Purchase Agreement (American Home Mortgage Investment Corp)

Purchase and Sale of the Preferred Securities. (a) The Sellers agree Trust agrees to sell to the Purchaser, and the Purchaser agrees to purchase from the preferred securities Trust the Preferred Securities for an aggregate amount (the "Purchase Price") equal to Thirty Million Dollars ($25,000,000 (the “Purchase Price”30,000,000). 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 from the Company.

Appears in 1 contract

Samples: Purchase Agreement (Capital Lease Funding Inc)

Purchase and Sale of the Preferred Securities. (a) The Sellers agree Trust agrees to sell to the Purchaser, and the Purchaser agrees to purchase from the preferred securities Trust the Preferred Securities for an aggregate amount equal to $25,000,000 (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 SecuritiesSecurities and the proceeds from the sale of Preferred Securities purchased by another purchaser, to purchase the Junior Subordinated Notes from the CompanyNotes.

Appears in 1 contract

Samples: Purchase Agreement (Deerfield Triarc Capital Corp)

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