Common use of Purchase of the Notes by the Underwriters Clause in Contracts

Purchase of the Notes by the Underwriters. On the basis of the representations and warranties contained in, and subject to the terms and conditions of, this Agreement, the Operating Partnership agrees to sell to the several Underwriters, and each of the Underwriters, severally and not jointly, agrees to purchase from the Operating Partnership, the respective principal amount of Notes set forth opposite that Underwriter's name in Schedule I hereto at the purchase price set forth in Schedule II hereto plus accrued interest, if any, from the date specified in Schedule II hereto to the date of payment and delivery.