Common use of Right of Person Who Agreed to Purchase to Refuse to Purchase Clause in Contracts

Right of Person Who Agreed to Purchase to Refuse to Purchase. A person who has agreed to purchase and pay for Notes as a result of an offer to purchase solicited by an Agent, may refuse to purchase such Notes if, on the related Closing Date fixed pursuant to the Procedures, any condition set forth in Section 5(a) or 5(f) shall not be satisfied or if, subsequent to the Acceptance Date and on or prior to the Closing Date fixed pursuant to the Procedures, the Company shall have received notice that any rating of any of the Company's unsecured senior debt securities shall have been lowered by any nationally recognized statistical rating organization (as defined in Rule 15c3-1 under the Exchange Act) or that any such organization has publicly announced that it has under surveillance or review, with possible negative implications, the ratings of any of the Company's unsecured senior debt securities.

Right of Person Who Agreed to Purchase to Refuse to Purchase. A person who has agreed to purchase and pay for Notes as a result of an offer to purchase solicited by an Agent, may refuse to purchase such Notes if, on the related Closing Date fixed pursuant to the Procedures, any condition set forth in Section 5(a) or 5(f) shall not be satisfied or if, subsequent to the Acceptance Date and on or prior to the Closing Date fixed pursuant to the Procedures, the Company SBC shall have received notice that any rating of any of the CompanySBC's unsecured senior debt securities shall have been lowered by any nationally recognized statistical rating organization (as defined in Rule 15c3-1 l under the Exchange Act) or that any such organization has publicly announced that it has under surveillance or review, with possible negative implications, the ratings of any of the CompanySBC's unsecured senior debt securities.