Defaulting Purchaser. “Defaulting Purchaser” means Purchaser, where Purchaser has caused a Payment Default under Section 11.1 of this Agreement that has not been remedied or cured.
Defaulting Purchaser. (a) If, on the Closing Date, any Purchaser defaults on its obligation to purchase the Notes that it has agreed to purchase hereunder, the non-defaulting Purchasers may in their discretion arrange for the purchase of such Notes by other persons satisfactory to the Company on the terms contained in this Agreement. If, within 36 hours after any such default by any Purchaser, the non-defaulting Purchasers do not arrange for the purchase of such Notes, then the Company shall be entitled to a further period of 36 hours within which to procure other persons satisfactory to the non-defaulting Purchasers to purchase such Notes on such terms. If other persons become obligated or agree to purchase the Notes of a defaulting Purchaser, either the non-defaulting Purchasers or the Company may postpone the Closing Date for up to five full Business Days in order to effect any changes that in the opinion of counsel for the Company or counsel for the Purchasers may be necessary in any document or arrangement. As used in this Agreement, the term "Purchaser" includes, for all purposes of this Agreement unless the context otherwise requires, any person not listed in Schedule 1 hereto that, pursuant to this Article VIII, purchases Notes that a defaulting Purchaser agreed but failed to purchase.
Defaulting Purchaser. In the event that Purchaser causes a Payment Default which has not been remedied and where Purchaser has not effected a Cured Payment Default.
Defaulting Purchaser. (a) If any Purchaser defaults in its obligation to purchase the Standby Securities that it is obligated to purchase under this Agreement, the non-defaulting Purchasers may, in their discretion, arrange for themselves or another party or other parties to purchase such Standby Securities on the terms and conditions contained in this Agreement. If within five Business Days after such default by any Purchaser, the Majority Purchasers (excluding any defaulting Purchaser) notify the Company that the non-defaulting Purchasers have not arranged for the purchase of such Standby Securities, then the Company will be entitled to a further period of 30 days within which to procure another party or other parties to purchase such Standby Securities on such terms. The term "
Defaulting Purchaser. (a) If any Purchaser shall default in its obligation to purchase the Securities which it has agreed to purchase hereunder, you may in your discretion arrange for you or another party or other parties to purchase such Securities on the terms contained herein. If within 36 hours after such default by any Purchaser you do not arrange for the purchase of such Securities, then the Company shall be entitled to a further period of 36 hours within which to procure another party or other parties reasonably satisfactory to you to purchase such Securities on such terms. In the event that, within the respective prescribed periods, you notify the Company that you have so arranged for the purchase of such Securities, or the Company notifies you that it has so arranged for the purchase of such Securities, you or the Company shall have the right to postpone the Closing Date or any Additional Closing Date for a period of not more than seven days (provided, that any Additional Closing Date must occur during the Option Period (after giving effect to any such postponement)), in order to effect whatever changes may thereby be made necessary in the Offering Memorandum, or in any other documents or arrangements, and the Company agrees to prepare promptly any amendments or supplements to the Offering Memorandum which in your opinion may thereby be made necessary. The term “Purchaser” as used in this Agreement shall include any person substituted under this Section 9(a) with like effect as if such person had originally been a party to this Agreement with respect to such Securities.
Defaulting Purchaser. The term “Defaulting Purchaser” shall mean a Purchaser which fails to purchase its Shares in accordance with the terms hereof.
Defaulting Purchaser. The term "Defaulting Purchaser" shall mean a Purchaser which fails to purchase any additional Series A Preferred Stock pursuant to a Capital Call.
Defaulting Purchaser. Purchaser is in default as a result of a Payment Default which has not been remedied and where Purchaser has not affected a Cured Payment Default.
Defaulting Purchaser. In the event that as of either the Tranche 2 Closing Date or the Tranche 3 Closing Date any Purchaser shall either (a) fail to tender the purchase price for the Series B Preferred Stock to be purchased by it at such Closing, or (b) not qualify as an "accredited investor" as of such date (each, a "Defaulting Purchaser"), then the Company shall offer to each non-defaulting Purchaser the opportunity to purchase that number of shares which equals its proportional share of the Tranche 2 or Tranche 3 Shares reserved for the Defaulting Purchaser, and the Company shall continue to offer the Defaulting Purchaser's shares (in each instance, in proportional amounts) until all the Tranche 2 or Tranche 3 Shares of the Defaulting Purchaser shall have been purchased by one or more of the non-defaulting purchasers.
Defaulting Purchaser. (a) If any Purchaser shall default in its obligation to purchase the Securities which it has agreed to purchase hereunder, you may in your discretion arrange for you or another party or other parties to purchase such Securities on the terms contained herein. If within 36 hours after such default by any Purchaser you do not arrange for the purchase of such Securities, then the Company shall be entitled to a further period of 36 hours within which to procure another party or other parties reasonably satisfactory to you to purchase such Securities on such terms. In the event that, within the respective prescribed periods, you notify the Company that you have so arranged for the purchase of such Securities, or the Company notifies you that it has so arranged for the purchase of such Securities, you or the Company shall have the right to postpone the Closing Date for a period of not more than seven days, in order to effect whatever changes may thereby be made necessary in the Offering Memorandum, or in any other documents or arrangements, and the Company agrees to prepare promptly any amendments or supplements to the Offering Memorandum which in your opinion may thereby be made necessary. The term “
