DEFAULT OF THE COMPANY. If the Company shall fail at the Closing Date or at the Option Closing Date to sell and deliver the Securities which it is obligated to sell hereunder, then this Agreement shall terminate without any liability on the part of the Underwriters or, except as provided in Section 4(a)(vii), any non-defaulting party. No action taken pursuant to this Section shall relieve the Company from liability, if any, in respect of such default.
DEFAULT OF THE COMPANY. If the Company is in default (as defined in Section 3(x)(1) of the FDIA), all obligations under this Agreement shall terminate as of the date of default, but this provision shall not affect any vested rights of the contracting parties.
DEFAULT OF THE COMPANY. If the Company defaults in its obligations to purchase the Bonds hereunder and other arrangements satisfactory to the Issuer for the purchase of the Bonds are not made within forty‑eight (48) hours after default, this Agreement may be terminated by the Issuer without liability on its part.
