Common use of Default of Purchasers Clause in Contracts

Default of Purchasers. If any Purchaser default in its obligations to purchase Offered Securities hereunder and the aggregate principal amount of Offered Securities that such defaulting Purchaser agreed but failed to purchase does not exceed 10% of the total principal amount of Offered Securities, the non-defaulting Purchaser may make arrangements satisfactory to the Issuer and the Guarantor for the purchase of such Offered Securities by other persons, including the non-defaulting Purchaser, but if no such arrangements are made by the Closing Date, the non-defaulting Purchaser shall be obligated severally, in proportion to its commitment hereunder, to purchase the Offered Securities that such defaulting Purchaser agreed but failed to purchase. If any Purchaser so default and the

Default of Purchasers. If any Purchaser or Purchasers default in its their obligations to purchase Offered Securities hereunder and the aggregate principal amount of Offered Securities that such defaulting Purchaser or Purchasers agreed but failed to purchase does not exceed 10% of the total principal amount of Offered Securities, the non-defaulting Purchaser Representatives may make arrangements satisfactory to the Issuer and the Guarantor Company for the purchase of such Offered Securities by other persons, including any of the non-defaulting PurchaserPurchasers, but if no such arrangements are made by the Closing Date, the non-defaulting Purchaser Purchasers shall be obligated severally, in proportion to its commitment their respective commitments hereunder, to purchase the Offered Securities that such defaulting Purchaser Purchasers agreed but failed to purchase. If any Purchaser or Purchasers so default and thethe aggregate principal amount of Offered Securities with respect to which such default or defaults occur

Default of Purchasers. If any Purchaser or Purchasers default in its their obligations to purchase Offered Securities hereunder and the aggregate principal amount of Offered Securities that such defaulting Purchaser or Purchasers agreed but failed to purchase does not exceed 10% of the total principal amount of Offered Securities, the non-defaulting Purchaser or Purchasers may make arrangements satisfactory to the Issuer and the Guarantor Company for the purchase of such Offered Securities by other persons, including any of the non-defaulting PurchaserPurchasers, but if no such arrangements are made by the Closing Date, the non-defaulting Purchaser Purchasers shall be obligated severally, in proportion to its commitment their respective commitments hereunder, to purchase the Offered Securities that such defaulting Purchaser Purchasers agreed but failed to purchase. If any Purchaser or Purchasers so default and thethe aggregate principal amount of Securities with respect to which such default or defaults occur exceeds 10% of the total principal amount of Securities and

Default of Purchasers. If any Purchaser or Purchasers default in its their obligations to purchase Offered Securities hereunder and the aggregate principal amount of Offered Securities that such defaulting Purchaser or Purchasers agreed but failed to purchase does not exceed 10% of the total principal amount of Offered Securities, the non-defaulting Purchaser or Purchasers may make arrangements satisfactory to the Issuer and the Guarantor Company for the purchase of such Offered Securities by other persons, including any of the non-defaulting PurchaserPurchasers, but if no such arrangements are made by the Closing Date, the non-defaulting Purchaser Purchasers shall be obligated severally, in proportion to its commitment their respective commitments hereunder, to purchase the Offered Securities that such defaulting Purchaser Purchasers agreed but failed to purchase. If any Purchaser or Purchasers so default and thethe aggregate principal amount of Securities with

Default of Purchasers. If any Purchaser or Purchasers default in its their obligations to purchase Offered Securities hereunder on the Closing Date and the aggregate principal amount of Offered the Securities that such defaulting Purchaser or Purchasers agreed but failed to purchase does not exceed 10% of the total principal amount of Offered the Securities, the non-defaulting Purchaser Representative may make arrangements satisfactory to the Issuer and the Guarantor Company for the purchase of such Offered Securities by other persons, including any of the non-defaulting PurchaserPurchasers, but if no such arrangements are made by the such Closing Date, the non-defaulting Purchaser Purchasers shall be obligated severally, in proportion to its commitment their respective commitments hereunder, to purchase the Offered Securities that such defaulting Purchaser Purchasers agreed but failed to purchasepurchase on the Closing Date. If any Purchaser or Purchasers so default and thethe aggregate principal amount of Securities with respect to which such default or defaults occur exceeds 10% of the total principal amount of the Securities that Purchasers are required to purchase

Default of Purchasers. If any Purchaser or Purchasers default in its their obligations to purchase Offered Securities Purchased Stock hereunder and the aggregate principal amount number of Offered Securities that shares of Purchased Stock which such defaulting Purchaser or Purchasers agreed but failed to purchase does not exceed is 10% of the total principal amount number of Offered Securitiesshares of Purchased Stock or less, the non-defaulting Purchaser Purchasers may make arrangements satisfactory to the Issuer and the Guarantor Company for the purchase of such Offered Securities Purchased Stock by other persons, including any of the non-defaulting PurchaserPurchasers, but if no such arrangements are made by the Closing Date, Date the non-defaulting Purchaser Purchasers shall be obligated severally, in proportion to its commitment their respective commitments hereunder, to purchase the Offered Securities that Purchased Stock which such defaulting Purchaser Purchasers agreed but failed to purchase. If any Purchaser or Purchasers so default and the aggregate number of shares of Purchased Stock with respect to which such default or defaults occur is more than the