Common use of Default by the Selling Stockholder Clause in Contracts

Default by the Selling Stockholder. If the Selling Stockholder shall fail at Closing Time or at a Date of Delivery to sell and deliver the number of Securities which the Selling Stockholder is obligated to sell hereunder, then the Underwriters may, at the option of the Representatives, by notice from the Representatives to the Company and the Selling Stockholder, either (i) terminate this Agreement without any liability on the fault of any non-defaulting party except that the provisions of Sections 1, 4, 6, 7 and 8 shall remain in full force and effect or (ii) elect to purchase the Securities which the Selling Stockholder has agreed to sell hereunder. No action taken pursuant to this Section 11 shall relieve the Selling Stockholder so defaulting from liability, if any, in respect of such default. In the event of a default by the Selling Stockholder as referred to in this Section 11, each of the Representatives and the Company shall have the right to postpone Closing Time or Date of Delivery for a period not exceeding seven days in order to effect any required change in the Registration Statement or Prospectus or in any other documents or arrangements.

Default by the Selling Stockholder. If the Selling Stockholder shall fail at Closing Time or at a Date of Delivery to sell and deliver the number of Securities which the Selling Stockholder is obligated to sell hereunder, then the Underwriters may, at the option of the Representatives, by notice from the Representatives to the Company and the Selling Stockholder, either (ia) terminate this Agreement without any liability on the fault of any non-defaulting party except that the provisions of Sections 1, 4, 6, 7 and 8 shall remain in full force and effect or (iib) elect to purchase the Securities which the Selling Stockholder has have agreed to sell hereundersell. No action taken pursuant to this Section 11 shall relieve the Selling Stockholder so defaulting from liability, if any, in respect of such default. In the event of a default by the Selling Stockholder as referred to in this Section 11, each of the Representatives and the Company shall have the right to postpone Closing Time or Date of Delivery for a period not exceeding seven days in order to effect any required change in the Registration Statement or Prospectus or in any other documents or arrangements.

Default by the Selling Stockholder. If the Selling Stockholder shall fail at the Closing Time or at a Date of Delivery to sell and deliver the number of Securities shares of Stock which the Selling Stockholder is obligated to sell hereunder, other than by reason of a default or breach by the Underwriter, then the Underwriters Underwriter may, at the option of the Representativesits option, by notice from the Representatives Underwriter to the Company and the Selling Stockholder, either (i) terminate this Agreement without any liability on the fault part of any non-defaulting party except that the provisions of Sections 12, 47, 69, 7 10, 13, 14, 15, 16 and 8 21 hereof shall remain in full force and effect or (ii) elect to purchase the Securities which the Selling Stockholder has agreed to sell hereundereffect. No action taken pursuant to this Section 11 shall relieve the Selling Stockholder so defaulting from its liability, if any, in respect of such defaultto the Company and the Underwriter for damages occasioned by its default hereunder. In the event of a default by the Selling Stockholder as referred to in this Section 11, each of the Representatives Underwriter and the Company shall have the right to postpone the Closing Time or Date of Delivery for a period not exceeding seven days in order to effect any required change in the Registration Statement Statement, the Disclosure Package or the Prospectus or in any other documents or arrangements.

Default by the Selling Stockholder. If the Selling Stockholder shall fail at the Closing Time or at a Date of Delivery Delivery, as the case may be, to sell and deliver the number of Public Securities which the Selling Stockholder is obligated to sell hereunder, hereunder then the Underwriters may, at the option of the Representatives, by notice from the Representatives to the Company and the Selling Stockholder, either (i) terminate this Agreement without any liability on the fault of any non-defaulting party except that the provisions of Sections 12, 44.6, 67, 7 10.5, and 8 11.6 shall remain in full force and effect or (ii) elect to purchase the Securities which the Selling Stockholder has agreed to sell hereundereffect. No action taken pursuant to this Section 11 9 shall relieve the Selling Stockholder so defaulting from liability, if any, liability in respect of such default. In the event of a default by the Selling Stockholder as referred to in this Section 119, each of the Representatives and the Company shall have the right to postpone the Closing Time or any Date of Delivery Delivery, as the case may be, for a period not exceeding seven days in order to effect any required change in the Registration Statement Statement, the Pricing Disclosure Package or the Prospectus or in any other documents or arrangements.

Default by the Selling Stockholder. If the Selling Stockholder shall fail at Closing Time or at a Date of Delivery to sell and deliver the number of Securities which the Selling Stockholder is obligated to sell hereunder, then the Underwriters may, at the option of the Representatives, by notice from the Representatives to the Company and the Selling Stockholder, either (ia) terminate this Agreement without any liability on the fault part of any non-defaulting party except that the provisions of Sections 1, 4, 6, 7 and 8 hereof shall remain in full force and effect or (iib) elect to purchase the Securities which the Selling Stockholder Company has agreed to sell hereunder. No action taken pursuant to this Section 11 shall relieve the Selling Stockholder so defaulting from liability, if any, liability in respect of such default. In the event of a default by the Selling Stockholder as referred to in this Section 11, each of the Representatives and the Company shall have the right to postpone the Closing Time or the relevant Date of Delivery for a period not exceeding seven days in order to effect any required change in the Registration Statement or Prospectus or in any other documents or arrangements.

Default by the Selling Stockholder. If the Selling Stockholder shall fail at Closing Time or at a Date of Delivery to sell and deliver the number of Securities which the Selling Stockholder is obligated to sell hereunder, then the Underwriters may, at the option of the Representatives, by notice from the Representatives to the Company and the Selling Stockholder, either (i) Stockholder terminate this Agreement without any liability on the fault of any non-defaulting party except that the provisions of Sections 1, 4, 6, 7 7, 8 and 8 16 shall remain in full force and effect or (ii) elect to purchase the Securities which the Selling Stockholder has agreed to sell hereundereffect. No action taken pursuant to this Section 11 shall relieve the Selling Stockholder so defaulting from liability, if any, in respect of such default. In the event of a default by the Selling Stockholder as referred to in this Section 11, each of the Representatives and the Company shall have the right to postpone Closing Time or Date of Delivery for a period not exceeding seven days in order to effect any required change in the Registration Statement or Prospectus or in any other documents or arrangements.

Default by the Selling Stockholder. If the Selling Stockholder shall fail to sell the number of Firm Shares that the Selling Stockholder is obligated to sell, the Representatives may, at Closing Time or at a Date of Delivery their option, by notice to the Company, either (a) require the Company to sell and deliver the number of Securities Firm Shares as to which the Selling Stockholder is obligated has defaulted, (b) elect to purchase the Firm Shares that the Company has agreed to sell hereunder, then the Underwriters may, at the option of the Representatives, by notice from the Representatives pursuant to the Company and the Selling Stockholder, either (ithis Agreement or(c) terminate this Agreement without any liability on the fault part of any non-defaulting party the Underwriters or the Company, except that for the provisions of Sections 1Section 8 hereof and the expenses to be paid or reimbursed by the Company pursuant to Section 6. In the event of a default under this Section that does not result in the termination of this Agreement, 4, 6, 7 and 8 the Representatives shall remain have the right to postpone the First Closing Date or Second Closing Date for a period not exceeding seven days in full force and order to effect any required changes in the Registration Statement or (ii) elect to purchase the Securities which the Selling Stockholder has agreed to sell hereunderProspectus or in any other documents or arrangements. No action taken pursuant to this Section 11 shall relieve the Company or the Selling Stockholder so defaulting from liability, if any, in respect of such default. In the event of a default by the Selling Stockholder as referred to in this Section 11, each of the Representatives and the Company shall have the right to postpone Closing Time or Date of Delivery for a period not exceeding seven days in order to effect any required change in the Registration Statement or Prospectus or in any other documents or arrangements.