Direct Purchase Agreement definition
Examples of Direct Purchase Agreement in a sentence
In addition, the election to convert shall automatically be deemed revoked if (1) the Remarketing Agent fails to establish the Term Rate or the Trustee does not receive confirmation from the Remarketing Agent that such Bond has been remarketed in the Term Rate Mode, or (2) the Corporation fails to deliver to the Trustee an executed Direct Purchase Agreement with respect to the proposed Direct Purchase Mode.
Interest shall be payable on overdue principal on this bond and (to the extent legally enforceable) on any overdue installment of interest on this bond at the Post-Default Rate specified in the Indenture (or if not specified in a bond in Direct Payment Mode, as specified in the Direct Purchase Agreement applicable to such bond).
In the event that the Buyer and Seller are unable to reach agreement on the final pricing to be specified in any Direct Purchase Agreement, such price may be determined by Referee Determination in accordance with, and subject to the limitations set forth in, the Master Agreement.
In the event that any one or more provisions contained in these Standard Terms and/or the Direct Purchase Agreement are held to be invalid, illegal or unenforceable, such invalidity, illegality or unenforceability will not affect any other provisions therein and the remaining terms shall be construed as if such invalid, illegal or enforceable provision had never been contained herein.
No changes to the Direct Purchase Agreement terms and conditions may be made unless previously agreed to by Vendor and DIR.