Common use of Absolute Discretion Clause in Contracts

Absolute Discretion. If this Agreement is terminated pursuant to any of its provisions, except as otherwise provided in this Agreement, the Company shall not be under any liability to the Underwriter, and the Underwriter shall be under no liability to the Company, except that if this Agreement is terminated by the Underwriter because of any failure, refusal or inability on the part of the Company to comply with the terms or to fulfill any of the conditions of this Agreement, the Company will reimburse the Underwriter for all reasonable out-of-pocket expenses (including the fees and disbursements of its counsel) reasonably incurred by it in connection with the proposed offering of the Units or in contemplation of performing its obligations hereunder.