Common use of Default by an Initial Purchaser Clause in Contracts

Default by an Initial Purchaser. If one of more of the Initial Purchasers shall breach their obligations to purchase the Notes that it has agreed to purchase hereunder on the Closing Date and arrangements satisfactory to the Company for the purchase of such Notes are not made within 36 hours after such default, this Agreement shall terminate with respect to such Initial Purchasers without liability on the part of the Company. Nothing herein shall relieve such Initial Purchasers from liability for their default.

Default by an Initial Purchaser. If one of more of the an Initial Purchasers Purchaser shall breach their its obligations to purchase the Notes that it has agreed to purchase hereunder on the Closing Date and arrangements satisfactory to the Company for the purchase of such Notes are not made within 36 hours after such default, this Agreement shall terminate with respect to such Initial Purchasers Purchaser without liability on the part of the CompanyCompany or the non-defaulting Initial Purchaser. Nothing herein shall relieve such the defaulting Initial Purchasers Purchaser from liability for their its default.