Common use of Default by an Initial Purchaser Clause in Contracts

Default by an Initial Purchaser. If one of the Initial Purchasers shall fail to purchase and pay for any of the Notes agreed to be purchased by such Initial Purchaser hereunder and such failure to purchase shall constitute a default in the performance of its or their obligations under this Agreement, the remaining Initial Purchaser shall be obligated to take up and pay for the Notes which the defaulting Initial Purchaser agreed but failed to purchase; provided, however, that in the event that the aggregate principal amount of Notes which the defaulting Initial Purchaser agreed but failed to purchase shall exceed 10% of the aggregate principal amount of Notes set forth in Schedule I hereto, the remaining Initial Purchaser shall have the right to purchase all, but shall not be under any obligation to purchase any, of the Notes, and if such non-defaulting Initial Purchaser does not purchase all the Notes, this Agreement will terminate without liability to the non-defaulting Initial Purchaser or the Company. In the event of a default by any Initial Purchaser as set forth in this Section 9, the Closing Date or the Option Closing Date, as the case may be, shall be postponed for such period, not exceeding seven days, as the remaining Initial Purchaser shall determined in order that the required changes in the Final Offering Memorandum or in any other documents or arrangements may be effected. Nothing contained in this Agreement shall relieve any defaulting Initial Purchaser of its liability, if any, to the Company or any non-defaulting Initial Purchaser for damages occasioned by its default hereunder.

Default by an Initial Purchaser. If one either of the Initial ------------------------------- Purchasers shall fail to purchase and pay for any of the Notes Units agreed to be purchased by such Initial Purchaser it hereunder and such failure to purchase shall constitute a default in the performance of its or their obligations under this Agreement, the remaining Initial Purchaser shall be obligated severally to take up and pay for the Notes Units which the defaulting Initial Purchaser agreed but failed to purchase; provided, however, that in the event that the aggregate principal amount number of Notes Units which -------- ------- the defaulting Initial Purchaser agreed but failed to purchase shall exceed 10% of the aggregate principal amount number of Notes Units set forth in Schedule I hereto, the remaining Initial Purchaser shall have the right to purchase all, but shall not be under any obligation to purchase any, of the NotesUnits, and if such non-defaulting Initial Purchaser does not purchase all the NotesUnits, this Agreement will terminate without liability to the non-defaulting Initial Purchaser or the CompanyIssuers. In the event of a default by any either Initial Purchaser as set forth in this Section 9, the Closing Date or the Option Closing Date, as the case may be, shall be postponed for such period, not exceeding seven days, as the remaining Initial Purchaser Representative shall determined determine in order that the required changes in the Final Offering Memorandum or in any other documents or arrangements may be effected. Nothing contained in this Agreement shall relieve any a defaulting Initial Purchaser of its liability, if any, to the Company Issuers or any the non-defaulting Initial Purchaser for damages occasioned by its default hereunder.

Default by an Initial Purchaser. If one of the any Initial Purchasers shall fail Purchaser fails to purchase and pay for any of the Purchased Notes agreed to be purchased by such Initial Purchaser hereunder hereunder, and such failure to purchase shall constitute constitutes a default in the performance of its or their obligations under this Agreement, the remaining Initial Purchaser shall be obligated severally to take up and pay for the Purchased Notes which that the defaulting Initial Purchaser agreed but failed to purchase; provided, however, that in the event that if the aggregate principal amount of Purchased Notes which that the defaulting Initial Purchaser agreed but failed to purchase shall exceed exceeds 10% of the aggregate principal amount of Notes set forth in Schedule I heretoPurchased Notes, the remaining Initial Purchaser shall have the right to purchase all, but shall not be under any obligation to purchase any, of the Purchased Notes, and if such non-defaulting nondefaulting Initial Purchaser does not purchase all of the Purchased Notes, this Agreement will terminate without liability to the non-defaulting any nondefaulting Initial Purchaser or the CompanyPurchaser. In the event of a default by any Initial Purchaser as set forth in this Section 9Section, the Closing Date or the Option Closing Date, as the case may be, shall be postponed for such period, not exceeding seven days, as the remaining Initial Purchaser shall determined determine in order that the required changes (if any) in the Final Offering Memorandum or in any other documents or arrangements may be effected. Nothing contained in this Agreement shall relieve any defaulting Initial Purchaser of its liability, if any, any liability to the Company Depositor, Conn Appliances, Conn’s, Inc., their affiliates or any non-defaulting nondefaulting Initial Purchaser for damages occasioned by its default hereunder.. Conn’s 2018-A: Note Purchase Agreement 21

Default by an Initial Purchaser. If one of the any Initial Purchasers shall fail Purchaser fails to purchase and pay for any of the Purchased Notes agreed to be purchased by such Initial Purchaser hereunder hereunder, and such failure to purchase shall constitute constitutes a default in the performance of its or their obligations under this Agreement, the remaining Initial Purchaser shall be obligated severally to take up and pay for the Purchased Notes which that the defaulting Initial Purchaser agreed but failed to purchase; provided, however, that in the event that if the aggregate principal amount of Purchased Notes which that the defaulting Initial Purchaser agreed but failed to purchase shall exceed exceeds 10% of the aggregate principal amount of Notes set forth in Schedule I heretoPurchased Notes, the remaining Initial Purchaser shall have the right to purchase all, but shall not be under any obligation to purchase any, of the Purchased Notes, and if such non-defaulting nondefaulting Initial Purchaser does not purchase all of the Purchased Notes, this Agreement will terminate without liability to the non-defaulting any nondefaulting Initial Purchaser or the CompanyPurchaser. In the event of a default by any Initial Purchaser as set forth in this Section 9Section, the Closing Date or the Option Closing Date, as the case may be, shall be postponed for such period, not exceeding seven days, as the remaining Initial Purchaser shall determined determine in order that the required changes (if any) in the Final Offering Memorandum or in any other documents or arrangements may be effected. Nothing contained in this Agreement shall relieve any defaulting Initial Purchaser of its liability, if any, any liability to the Company Depositor, Conn Appliances, Conn’s, Inc., their affiliates or any non-defaulting nondefaulting Initial Purchaser for damages occasioned by its default hereunder.. Conn’s 2021-A: Note Purchase Agreement