Purchase and Sale Clause Example from Business Contracts

Purchase and Sale. Subject to the terms and conditions and in reliance upon the representations and warranties herein set forth, the Issuers agree to sell to each Underwriter, and each Underwriter agrees, severally and not jointly, to purchase from the Issuers, the principal amount as set forth opposite such Underwriter's name in Schedule II hereto of the Securities at a purchase price of 98.750% of the principal amount thereof.