Defaulted Units definition

Defaulted Units has the meaning ascribed thereto in Section 19 of this Agreement;

Defaulted Units has the meaning given to it in paragraph 12.2;

Defaulted Units has the meaning given to such term in Section 2.3;

Examples of Defaulted Units in a sentence

• If the number of Defaulted Units exceeds 5% of the Offered Units and the right to purchase the Defaulted Units, as described above, is not exercised, the Underwriter or Underwriters which are able and willing to purchase shall be relieved of all obligations to the REIT on submission to the REIT of reasonable evidence of its or their ability and willingness to fulfill its or their obligations hereunder at the Closing Time or Over-Allotment Closing Time, as applicable.

• If no such arrangement has been made and the number of Defaulted Units does not exceed 5% of the Offered Units, the Continuing Underwriters will be obligated to purchase the Defaulted Units on the terms set out in this Agreement in proportion to their obligations under this Agreement.

More Definitions of Defaulted Units

Defaulted Units has the meaning given to that term in Section 25;

Defaulted Units means the product of the original number of LP Units distributed by HALP to such Partner multiplied by the excess if any, of the percentage set forth below over the actual percentage of LP Units distributed by HALP to such Partner for which such Partner delivered a Repurchase Notice.

Defaulted Units has the meaning specified in Section 7.1.6.