Common use of Failure to Settle Clause in Contracts

Failure to Settle. If a purchaser fails to accept delivery of and make payment for any Certificated Note, the relevant Agent will notify the Company and the Trustee by telephone and return such Note to the Trustee. Upon receipt of such notice, the Company will immediately wire transfer to the account of such Agent an amount equal to the price of such Note less such Agent’s commission in respect of such Note (if any). Such wire transfer will be made on the settlement date, if possible, and in any event not later than the Business Day following the settlement date. If the failure shall have occurred for any reason other than a default by such Agent in the performance of its obligations hereunder and under the Distribution Agreement, then the Company will reimburse such Agent or the Trustee, as appropriate, on an equitable basis for its loss of the use of the funds during the period when they were credited to the account of the Company. Immediately upon receipt of the Certificated Note in respect of which such failure occurred, the Trustee will mark such Note “cancelled,” make appropriate entries in the Trustee’s records and send such Note to the Company.

Failure to Settle. If a purchaser fails to accept delivery of and make payment for any Certificated Note, the relevant Agent will notify the Company and the Trustee by telephone and return such Note to the Trustee. Upon receipt of such notice, the Company will immediately wire transfer to the account of such the Agent an amount equal to the price of such Note less such Agent’s commission amount previously credited thereto in respect of such Note (if any)Note. Such wire transfer will be made on the settlement date, if possible, and in any event not later than the Business Day following the settlement date. If the failure shall have occurred for any reason other than a default by such the Agent in the performance of its obligations hereunder and under the Distribution AgreementAgreement with the Company, then the Company will reimburse such the Agent or the Trustee, as appropriate, on an equitable basis for its loss of the use of the funds during the period when they were credited to the account of the Company. Immediately upon receipt of the Certificated Note in respect of which such failure occurred, the Trustee will mark xxxx such Note “cancelled,” canceled”, make appropriate entries in the Trustee’s records and send such Note to the Company.

Failure to Settle. If a purchaser fails to accept delivery of ----------------- and make payment for any Certificated Note, the relevant Agent will notify the Company and the Trustee by telephone and return such Note to the Trustee. Upon receipt of such notice, the Company will immediately wire transfer to the account of such the Agent an amount equal to the price of such Note less such Agent’s commission amount previously credited thereto in respect of such Note (if any)Note. Such wire transfer will be made on the settlement date, if possible, and in any event not later than the Business Day following the settlement date. If the failure shall have occurred for any reason other than a default by such the Agent in the performance of its obligations hereunder and under the Distribution AgreementAgreement with the Company, then the Company will reimburse such the Agent or the Trustee, as appropriate, on an equitable basis for its loss of the use of the funds during the period when they were credited to the account of the Company. Immediately upon receipt of the Certificated Note in respect of which such failure occurred, the Trustee will mark such Note “cancelled,” "canceled", make appropriate entries in the Trustee’s 's records and send such Note to the Company.

Failure to Settle. If a purchaser fails to accept delivery of and or make payment for any Certificated Note, the relevant Agent which solicited the offer to purchase such Note will notify the Company and the Trustee by telephone and return such Note to the Trustee. Upon receipt of such notice, the Company will immediately wire transfer to the account of such Agent an amount equal to the price of such Note less such Agent’s commission amount previously credited thereto in respect of such Note (if any)Note. Such wire transfer will be made on the settlement date, if possible, and in any event not later than the Business Day following the settlement date. If the failure shall have occurred for any reason other than a default by such Agent in the performance of its obligations hereunder and under the Distribution AgreementAgreement with the Company, then the Company will reimburse such the Agent or the Trustee, as appropriate, on an equitable basis for its loss of the use of the funds during the period when they were credited to the account of the Company. Immediately upon receipt of the Certificated Note in respect of which such failure occurred, the Trustee will mark such Note “cancelled,” "canceled", make appropriate entries in the Trustee’s 's records and send such Note to the Company.

Failure to Settle. If a purchaser fails to accept delivery ----------------- of and make payment for any Certificated Note, the relevant Agent will notify the Company and the Trustee by telephone and return such Note to the Trustee. Upon receipt of such notice, the Company will immediately wire transfer to the account of such the Agent an amount equal to the price of such Note less such Agent’s commission amount previously credited thereto in respect of such Note (if any)Note. Such wire transfer will be made on the settlement date, if possible, and in any event not later than the Business Day following the settlement date. If the failure shall have occurred for any reason other than a default by such the Agent in the performance of its obligations hereunder and under the Distribution AgreementAgreement with the Company, then the Company will reimburse such the Agent or the Trustee, as appropriate, on an equitable basis for its loss of the use of the funds during the period when they were credited to the account of the Company. Immediately upon receipt of the Certificated Note in respect of which such failure occurred, the Trustee will mark such Note “cancelled,” "canceled", make appropriate entries in the Trustee’s 's records and send such Note to the Company.

Failure to Settle. If a purchaser fails to accept delivery of and make payment for any Certificated Note, the relevant Agent will notify the Company and the Trustee by telephone and return such Note to the Trustee. Upon receipt of such notice, the Company will immediately wire transfer to the account of such the Agent an amount equal to the price of such Note less such Agent’s commission amount previously credited thereto in respect of such Note (if any)Note. Such wire transfer will be made on the settlement date, if possible, and in any event not later than the Business Day following the settlement date. If the failure shall have occurred for any reason other than a default by such the Agent in the performance of its obligations hereunder and under the Distribution AgreementAgreement with the Company, then the Company will reimburse such the Agent or the Trustee, as appropriate, on an equitable basis for its loss of the use of the funds during the period when they were credited to the account of the Company. Immediately upon receipt of the Certificated Note in respect of which such failure occurred, the Trustee will mark such Note “cancelled,” canceled”, make appropriate entries in the Trustee’s records and send such Note to the Company.

Failure to Settle. If a purchaser fails to accept delivery of and make payment for any Certificated Note, the relevant Agent will notify the Company Issuer and the Trustee by telephone and return such Note to the Trustee. Upon receipt of such notice, the Company Issuer will immediately wire transfer to the account of such the Agent an amount equal to the price of such Note less such Agent’s commission amount previously credited thereto in respect of to such Note (if any)Note. Such wire transfer will be made on the settlement date, if possible, and in any event not later than the Business Day following the settlement date. If the failure shall have occurred for any reason other than a default by such the Agent in the performance of its obligations hereunder and under the Distribution Agreement, then the Company Issuer will reimburse such the Agent or the Trustee, as appropriate, on an equitable basis for its loss of the use of the funds during the period when they were credited to the account of the CompanyIssuer. Immediately upon receipt of the Certificated Note in respect of which such failure occurred, the Trustee will mark xxxx such Note “cancelled"canceled,” " make appropriate entries in the Trustee’s 's records and send such Note Note, to the CompanyIssuer.