Common use of Offering Procedure Clause in Contracts

Offering Procedure. (a) Unless otherwise agreed between the Company and each agent, each agent shall communicate to the Company, orally or in writing, each offer to purchase Notes received by such agent (unless such offer is rejected by such agent in accordance herewith) on terms previously communicated by the Company to such agent, and unless otherwise agreed between the Company and each agent, the Company shall have the sole right to accept such offers to purchase Notes and may refuse any proposed purchase of Notes in whole or in part for any reason. (b) Unless otherwise agreed between the Company and each agent, each agent shall have the right, in its discretion reasonably exercised, to reject any proposed purchase of Notes, as a whole or in part, and any such rejection shall not be deemed a breach of its agreement contained herein. Each agent and the Company agree to perform the respective duties and obligations specifically provided to be performed by them in the Procedures.

Appears in 6 contracts

Sources: Selling Agency Agreement (Countrywide Financial Corp), Selling Agency Agreement (Countrywide Home Loans Inc), Selling Agency Agreement (Countrywide Home Loans Inc)

Offering Procedure. (a) Unless otherwise agreed between the ------------------ Company and each agentAgent, each agent Agent shall communicate to the Company, orally or in writing, each offer to purchase Notes received by such agent Agent (unless such offer is rejected by such agent Agent in accordance herewith) on terms previously communicated by the Company to such agentAgent, and unless otherwise agreed between the Company and each agentAgent, the Company shall have the sole right to accept such offers to purchase Notes and may refuse any proposed purchase of Notes in whole or in part for any reason. (b) Unless otherwise agreed between the Company and each agentAgent, each agent Agent shall have the right, in its discretion reasonably exercised, to reject any proposed purchase of Notes, as a whole or in part, and any such rejection shall not be deemed a breach of its agreement contained herein. Each agent Agent and the Company agree to perform the respective duties and obligations specifically provided to be performed by them in the Procedures.

Appears in 2 contracts

Sources: Selling Agency Agreement (Countrywide Credit Industries Inc), Selling Agency Agreement (Countrywide Home Loans Inc)

Offering Procedure. (a) Unless otherwise agreed between the Company ------------------ and each agentAgent, each agent Agent shall communicate to the Company, orally or in writing, each offer to purchase Notes received by such agent Agent (unless such offer is rejected by such agent Agent in accordance herewith) on terms previously communicated by the Company to such agentAgent, and unless otherwise agreed between the Company and each agentAgent, the Company shall have the sole right to accept such offers to purchase Notes and may refuse any proposed purchase of Notes in whole or in part for any reason. (b) Unless otherwise agreed between the Company and each agentAgent, each agent Agent shall have the right, in its discretion reasonably exercised, to reject any proposed purchase of Notes, as a whole or in part, and any such rejection shall not be deemed a breach of its agreement contained herein. Each agent Agent and the Company agree to perform the respective duties and obligations specifically provided to be performed by them in the Procedures.

Appears in 2 contracts

Sources: Selling Agency Agreement (Countrywide Credit Industries Inc), Selling Agency Agreement (Countrywide Home Loans Inc)

Offering Procedure. (a) Unless otherwise agreed between the Company and each agentAgent, each agent Agent shall communicate to the Company, orally or in writing, each offer to purchase Notes received by such agent Agent (unless such offer is rejected by such agent Agent in accordance herewith) on terms previously communicated by the Company to such agentAgent, and unless otherwise agreed between the Company and each agentAgent, the Company shall have the sole right to accept such offers to purchase Notes and may refuse any proposed purchase of Notes in whole or in part for any reason. (b) Unless otherwise agreed between the Company and each agentAgent, each agent Agent shall have the right, in its discretion reasonably exercised, to reject any proposed purchase of Notes, as a whole or in part, and any such rejection shall not be deemed a breach of its agreement contained herein. Each agent Agent and the Company agree to perform the respective duties and obligations specifically provided to be performed by them in the Procedures.

Appears in 1 contract

Sources: Selling Agency Agreement (General American Transportation Corp /Ny/)