Common use of The Initial Securities Clause in Contracts

The Initial Securities. The Company agrees to issue and sell to the Underwriters, severally and not jointly, all of the Initial Securities, and, subject to the conditions set forth herein, the Underwriters agree, severally and not jointly, to purchase from the Company the number of Initial Securities set forth opposite their names on Schedule A, at a purchase price of $48.50 per share payable on the Closing Date, in each case, on the basis of the representations, warranties and agreements herein contained, and upon the terms and conditions herein set forth.

The Initial Securities. The Company agrees to issue and sell to the Underwriters, severally and not jointly, all of the Initial Securities, and, subject to the conditions set forth herein, the Underwriters agree, severally and not jointly, to purchase from the Company the number aggregate principal amount of Initial Securities set forth opposite their names on Schedule A, at a purchase price of $48.50 per share 98% of the principal amount thereof payable on the Closing Date, in each case, on the basis of the representations, warranties and agreements herein contained, and upon the terms and conditions herein set forth.