Common use of Delivery of and Payment for the Units Clause in Contracts

Delivery of and Payment for the Units. Delivery of and payment for the Units shall be made at 10:00 A.M., New York City time, on the fourth full business day following the date of this Agreement or at such other date or place as shall be determined by agreement between the Underwriter and the Trust. This date and time are sometimes referred to as the “Delivery Date.” Delivery of the Units shall be made to the Underwriter against payment by the Underwriter of the purchase price of the Units being sold by the Selling Unitholders to or upon the order of the Selling Unitholders of the purchase price by wire transfer in immediately available funds to the accounts specified by the Selling Unitholders. Time shall be of the essence, and delivery at the time and place specified pursuant to this Agreement is a further condition of the obligation of the Underwriter hereunder. The Selling Unitholders shall deliver the Units through the facilities of DTC unless the Underwriter shall otherwise instruct.

Appears in 1 contract

Sources: Underwriting Agreement (Pacific Coast Oil Trust)

Delivery of and Payment for the Units. Delivery of and payment for the Units shall be made at 10:00 A.M., New York City time, on the fourth third full business day following the date of this Agreement or at such other date or place as shall be determined by agreement between the Underwriter and the TrustPartnership. This date and time are sometimes referred to as the “Delivery Date.” Delivery of the Units shall be made to the Underwriter for the account of the Underwriter against payment by the Underwriter of the aggregate purchase price prices of the Units being sold by the Selling Unitholders to or upon the order of the Selling Unitholders of the purchase price by wire transfer in immediately available funds to the accounts specified by the Selling Unitholders. Time shall be of the essence, and delivery at the time and place specified pursuant to this Agreement is a further condition of the obligation of the Underwriter hereunder. The Selling Unitholders shall deliver the Units through the facilities of DTC unless the Underwriter shall otherwise instruct.

Appears in 1 contract

Sources: Underwriting Agreement (Global Partners Lp)