DEFAULT BY UNDERWRITERS. Default by any Underwriter in respect of its obligations hereunder or under the Underwriting Agreement shall not release us from any of our obligations or in any way affect the liability of such defaulting Underwriter to the other Underwriters for damages resulting from such default. If one or more Underwriters default under the Underwriting Agreement, if provided in the Underwriting Agreement you may (but shall not be obligated to) arrange for the purchase by others, which may include yourselves or other non-defaulting Underwriters, of all or a portion of the Securities no taken up by the defaulting Underwriters. In the event that such arrangements are made, the respective underwriting obligations of the non-defaulting Underwriters and the amounts of the Securities to be purchased by others, if any, shall be taken as the basis for all rights and obligations hereunder, but this shall not in any way affect the liability of any defaulting Underwriter to the other Underwriters for damage resulting from its default, nor shall any such default relieve any other Underwriter of any of its obligations hereunder or under the Underwriting Agreement except as herein or therein provided. In addition, in the event of default by one or more Underwriters in respect of their obligations under the Underwriting Agreement to purchase the Securities agreed to be purchased by them thereunder and, to the extent that arrangements shall not have been made by you for any person to assume the obligations of such defaulting Underwriter or Underwriters, we agree, if provided in the Underwriting Agreement, to assume our proportionate share, based upon our underwriting obligation, of the obligations of each defaulting Underwriter without relieving any such defaulting Underwriter of its liability therefor.
Appears in 3 contracts
Samples: Master Agreement (Gabelli Global Multimedia Trust Inc), Master Agreement (Gabelli Equity Trust Inc), Master Agreement (Royce Otc Micro Cap Fund Inc)
DEFAULT BY UNDERWRITERS. Default by any Underwriter in respect of its obligations hereunder or under the Underwriting Purchase Agreement shall not release us from any of our obligations or in any way affect the liability of such defaulting Underwriter to the other Underwriters for damages resulting from such default. If one or more Underwriters default under the Underwriting Purchase Agreement, if provided in the Underwriting such Purchase Agreement you may (but shall not be obligated to) arrange for the purchase by others, which may include yourselves or other non-defaulting Underwriters, of all or a portion of the Securities no not taken up by the defaulting Underwriters. In the event that such arrangements are made, the respective underwriting obligations of the non-defaulting Underwriters and the amounts of the Securities to be purchased by others, if any, shall be taken as the basis for all rights and obligations hereunder, ; but this shall not in any way affect the liability of any defaulting Underwriter to the other Underwriters for damage damages resulting from its default, nor shall any such default relieve any other Underwriter of any of its obligations hereunder or under the Underwriting Purchase Agreement except as herein or therein provided. In addition, in the event of default by one or more Underwriters in respect of their obligations under the Underwriting Purchase Agreement to purchase the Securities agreed to be purchased by them thereunder and, to the extent that arrangements shall not have been made by you for any person to assume the obligations of such defaulting Underwriter or Underwriters, we agree, if provided in the Underwriting Purchase Agreement, to assume our proportionate share, based upon our underwriting obligation, of the obligations of each such defaulting Underwriter (subject to the limitations contained in the Purchase Agreement) without relieving such defaulting Underwriter of its liability therefor. In the event of default by one or more Underwriters in respect of their obligations under this Agreement to take up and pay for any securities purchased, or to deliver any securities sold or over-alloted, by you for the respective accounts of the Underwriters, or to bear their proportion of expenses or liabilities pursuant to this Agreement, and to the extent that arrangements shall not have been made by you for any persons to assume the obligations of such defaulting Underwriter or Underwriters, we agree to assume our proportionate share, based upon our respective underwriting obligation, of the obligations of each defaulting Underwriter without relieving any such defaulting Underwriter of its liability therefor.
Appears in 3 contracts
Samples: Master Agreement (Neuberger Berman Intermediate Municipal Fund Inc), Master Agreement (General American Investors Co Inc), Master Agreement (Neuberger Berman Dividend Advantage Fund Inc)
DEFAULT BY UNDERWRITERS. Default by any Underwriter in respect of its obligations hereunder or under the Underwriting Purchase Agreement shall not release us from any of our obligations or in any way affect the liability of such defaulting Underwriter to the other Underwriters for damages resulting from such default. If one or more Underwriters default under the Underwriting Purchase Agreement, if provided in the Underwriting such Purchase Agreement you may (but shall not be obligated to) arrange for the purchase by others, which may include yourselves or other non-defaulting Underwriters, of all or a portion of the Securities no not taken up by the defaulting Underwriters. In the event that such arrangements are made, the respective underwriting obligations of the non-defaulting Underwriters and the amounts of the Securities to be purchased by others, if any, shall be taken as the basis for all rights and obligations hereunder, ; but this shall not in any way affect the liability of any defaulting Underwriter to the other Underwriters for damage damages resulting from its default, nor shall any such default relieve any other Underwriter of any of its obligations hereunder or under the Underwriting Purchase Agreement except as herein or therein provided. In addition, in the event of default by one or more Underwriters in respect of their obligations under the Underwriting Purchase Agreement to purchase the Securities agreed to be purchased by them thereunder and, to the extent that arrangements shall not have been made by you for any person to assume the obligations of such defaulting Underwriter or Underwriters, we agree, if provided in the Underwriting Purchase Agreement, to assume our proportionate share, based upon our underwriting obligation, of the obligations of each such defaulting Underwriter (subject to the limitations contained in the Purchase Agreement) without relieving such defaulting Underwriter of its liability therefor. In the event of default by one or more Underwriters in respect of their obligations under this Agreement to take up and pay for any securities purchased, or to deliver any securities sold or over-allotted, by you for the respective accounts of the Underwriters, or to bear their proportion of expenses or liabilities pursuant to this Agreement and to the extent that arrangements shall not have been made by you for any persons to assume the obligation!s of such defaulting Underwriter or Underwriters, we agree to assume our proportionate share, based upon our respective underwriting obligation, of the obligations of each defaulting Underwriter without relieving any such defaulting Underwriter of its liability therefor.
Appears in 2 contracts
Samples: Master Agreement (Nuveen Global Government Enhanced Income Fund), Master Agreement (Nuveen Equity Premium & Growth Fund)
DEFAULT BY UNDERWRITERS. Default by any Underwriter one or more Underwriters in respect of its their obligations hereunder or under the Underwriting Agreement shall will not release us from any of our obligations or in any way affect the liability of such any defaulting Underwriter to the other Underwriters for damages resulting from such default. If one In case of such default with respect to the purchase of 10% or more Underwriters default under less of the Registered Units included within the Underwritten Securities, we will purchase additional Registered Units as set forth in Section 9 of the Underwriting Agreement. If such default exceeds 10% of the Registered Units included within the Underwritten Securities, if provided in the Underwriting Agreement you may (are authorized, but shall not be obligated to) obligated, to arrange for the purchase by othersother persons, which who may include yourselves yourself or other non-defaulting Underwritersany nondefaulting Underwriter, of all or a that defaulted portion in excess of the Securities no taken up by the defaulting Underwriters10%. In the event that If such arrangements are made, the respective underwriting obligations we will purchase Registered Units not exceeding our original commitments under Section 9 of the non-defaulting Underwriters Underwriting Agreement, and the amounts additional number of the Securities Registered Units to be purchased by othersthe nondefaulting Underwriters and by such other persons, if any, shall be added to our original commitments and shall together be taken as the basis for all rights determining the proportionate several obligations and obligations hereunderbenefits hereunder and under the Underwriting Agreement, but this shall not in any no way affect the liability of any defaulting Underwriter for damages resulting from such default. If there is any default as to the other Underwriters for damage resulting from its default, nor shall any such default relieve any other Underwriter purchase of any portion of its obligations hereunder or under the Underwriting Agreement except as herein or therein provided. In additionRegistered Units, in the event of default by one or more Underwriters in respect of their obligations under the Underwriting Agreement you are authorized, but shall not be obligated, to purchase or to arrange for the Securities agreed to be purchased purchase by them thereunder and, to the extent that arrangements shall not have been made by you for any person to assume the obligations of such defaulting Underwriter or Underwriters, we agree, if provided in the Underwriting Agreement, to assume our proportionate share, based upon our underwriting obligation, nondefaulting Underwriters of the obligations of each defaulting Underwriter without relieving any such defaulting Underwriter of its liability therefordefaulted portion.
Appears in 2 contracts
Samples: Westower Corp, Westower Corp
DEFAULT BY UNDERWRITERS. Default by any an Underwriter in respect of its obligations hereunder or under the Underwriting Purchase Agreement shall not release us from any of our obligations or in any way affect the liability of such defaulting Underwriter to the other Underwriters for damages resulting from such default. If one or more Underwriters default under the Underwriting Purchase Agreement, if provided in the Underwriting such Purchase Agreement you may (but shall not be obligated to) arrange for the purchase by others, which may include yourselves or other non-defaulting Underwriters, of all or a portion of the Securities no not taken up by the defaulting Underwriters. In the event that such arrangements are made, the respective underwriting obligations of the non-defaulting Underwriters and the amounts of the Securities to be purchased by others, if any, shall be taken as the basis for all rights and obligations hereunder, ; but this shall not in any way affect the liability of any defaulting Underwriter to the other Underwriters for damage damages resulting from its default, nor shall any such default relieve any other Underwriter of any of its obligations hereunder or under the Underwriting Purchase Agreement except as herein or therein provided. In addition, in the event of default by one or more Underwriters in respect of their obligations under the Underwriting Purchase Agreement to purchase the Securities agreed to be purchased by them thereunder and, to the extent that arrangements shall not have been made by you for any person to assume the obligations of such defaulting Underwriter or Underwriters, we agree, if provided in the Underwriting Purchase Agreement, to assume our proportionate share, based upon our underwriting obligation, of the obligations of each such defaulting Underwriter (subject to the limitations contained in the Purchase Agreement) without relieving such defaulting Underwriter of its liability therefor. In the event of default by one or more Underwriters in respect of their obligations under this Agreement to take up and pay for any securities purchased, or to deliver any securities sold or overalloted, by you for the respective accounts of the Underwriters, or to bear their proportion of expenses or liabilities pursuant to this Agreement, and to the extent that arrangements shall not have been made by you for any persons to assume the obligations of such defaulting Underwriter or Underwriters, we agree to assume our proportionate share, based upon our respective underwriting obligation, of the obligations of each defaulting Underwriter without relieving any such defaulting Underwriter of its liability therefor.
Appears in 1 contract
Samples: Master Agreement (Cohen & Steers Quality Income Realty Fund Inc)
DEFAULT BY UNDERWRITERS. Default by any Underwriter in respect of its obligations one or more Underwriters hereunder or under the Underwriting Agreement shall not release us the other Underwriters from any of our their obligations or in any way affect the liability of such any defaulting Underwriter to the other Underwriters for damages resulting from such default. If one or more Underwriters default under the Underwriting Agreement, if provided in the Underwriting Agreement you may (but shall not be obligated to) arrange for the purchase by others, which may include yourselves including you or other non-defaulting Underwriters, of all or a portion of the Securities no not taken up by the defaulting Underwriter or Underwriters. In the event that such arrangements are made, the respective underwriting obligations of the non-defaulting nondefaulting Underwriters and the amounts of the Securities to be purchased by others, if any, shall be taken as the basis for all rights and obligations hereunder, ; but this shall not in any way affect the liability of any defaulting Underwriter to the other Underwriters for damage damages resulting from its default, nor shall any such default relieve any other Underwriter of any of its obligations hereunder or under the Underwriting Agreement except as herein or therein provided. In addition, in the event of default by one or more Underwriters in respect of their obligations under the Underwriting Agreement to purchase the Securities agreed to be purchased by them thereunder and, to the extent that arrangements shall not have been made by you for any person to assume the obligations of such defaulting Underwriter or Underwriters, we agree, if provided in the Underwriting Agreement, to assume our proportionate share, based upon our underwriting obligation, of the obligations of each such defaulting Underwriter (subject to the limitations contained in the Underwriting Agreement) without relieving such defaulting Underwriter of its liability therefor. In the event of default by one or more Underwriters in respect of their obligations under this Agreement to take up and pay for any shares of Securities purchased by you for their respective accounts pursuant to Section 9 hereof, or to deliver any such shares of Securities sold or over-allotted by you for their respective accounts pursuant to any provision of this Agreement, and to the extent that arrangements shall not have been made by you for other persons to assume the obligations of such defaulting Underwriter or Underwriters, each non-defaulting Underwriter shall assume its proportionate share of the aforesaid obligations of each such defaulting Underwriter without relieving any such defaulting Underwriter of its liability therefor.
Appears in 1 contract
DEFAULT BY UNDERWRITERS. Default by any Underwriter in respect of its obligations hereunder or under the Underwriting Agreement shall not release us from any of our obligations or in any way affect the liability of such defaulting Underwriter to the other Underwriters for damages resulting from such default. If one or more Underwriters default under the Underwriting Agreement, if provided in the such Underwriting Agreement Agreement, you may (but shall not be obligated to) arrange for the purchase by others, others which may include yourselves or other non-defaulting Underwriters, of all or a portion of the Securities no not taken up by the defaulting Underwriters. In the event that such arrangements are made, the respective underwriting obligations of the non-defaulting Underwriters and the amounts of the Securities to be purchased by others, if any, shall be taken as the basis for all rights and obligations hereunder, ; but this shall not in any way affect the liability of any defaulting Underwriter to the other Underwriters for damage damages resulting from its default, nor shall any such default relieve any other Underwriter of any of its obligations hereunder or under the Underwriting Agreement except as herein or therein provided. In addition, in the event of default by one or more Underwriters in respect of their obligations under the Underwriting Agreement to purchase the Securities agreed to be purchased by them thereunder andthereunder, and to the extent that arrangements shall not have been made by you for any person to assume the obligations of such defaulting Underwriter or Underwriters, we agree, if provided in the Underwriting Agreement, to assume our proportionate share, based upon our underwriting obligation, of the obligations of each such defaulting Underwriter (subject to the limitations contained in the Underwriting Agreement) without relieving such defaulting Underwriter of its liability therefor. In the event of default by one or more Underwriters in respect of their obligations under this Agreement to take up and pay for any securities purchased, or to deliver any securities sold or over-allotted, by you for the respective accounts of the Underwriters, or to bear their proportion of expenses or liabilities pursuant to this Agreement, and to the extent that arrangements shall not have been made by you for any persons to assume the obligations of such defaulting Underwriter or Underwriters, we agree to assume our proportionate share, based upon our respective underwriting obligation, of the obligations of each defaulting Underwriter without relieving any such defaulting Underwriter of its liability therefor.
Appears in 1 contract
DEFAULT BY UNDERWRITERS. Default by any Underwriter in respect of its obligations hereunder or under the Underwriting Purchase Agreement shall not release us from any of our obligations or in any way affect the liability of such defaulting Underwriter to the other Underwriters for damages resulting from such default. If one or more Underwriters default under the Underwriting AgreementPurchase agreement, if provided in the Underwriting such Purchase Agreement you may (but shall not be obligated to) arrange for the purchase by others, which may include yourselves or other non-defaulting Underwriters, of all or a portion of the Securities no not taken up by the defaulting Underwriters. In the event that such arrangements are made, the respective underwriting obligations of the non-defaulting Underwriters and the amounts of the Securities to be purchased by others, if any, shall be taken as the basis for all rights and obligations hereunder, ; but this shall not in any way affect the liability of any defaulting Underwriter to the other Underwriters for damage damages resulting from its default, nor shall any such default relieve any other Underwriter of any of its obligations hereunder or under the Underwriting Purchase Agreement except as herein or therein provided. In addition, in the event of default by one or more Underwriters in respect of their obligations under the Underwriting Purchase Agreement to purchase the Securities agreed to be purchased by them thereunder and, to the extent that arrangements shall not have been made by you for any person to assume the that obligations of such defaulting Underwriter or Underwriters, we agree, if provided in the Underwriting Purchase Agreement, to assume our proportionate share, based upon our underwriting obligation, of the obligations of each such defaulting Underwriter (subject to the limitations contained in the Purchase Agreement) without relieving such defaulting Underwriter of its liability therefor. In the event of default by one of more Underwriters in respect of their obligations under this Agreement to take up and pay for any securities purchased, or to deliver any securities sold or over-allotted, by you for the respective accounts of the Underwriters, or to bear their proportion of expenses or liabilities pursuant to this Agreement, and to the extent that arrangements shall not have been made by you for any persons to assume the obligations of such defaulting Underwriter or Underwriters, we agree to assume our proportionate share, based upon our respective underwriting obligation, of the obligations of each defaulting Underwriter without relieving any such defaulting Underwriter of its liability therefor.
Appears in 1 contract
Samples: Master Agreement (Western Asset Claymore Us Treasury Inflation Pro Sec Fund 2)
DEFAULT BY UNDERWRITERS. Default by any Underwriter one or more Underwriters in respect of its their obligations hereunder or under the Underwriting Agreement shall will not release us from any of our obligations or in any way affect the liability of such any defaulting Underwriter to the other Underwriters for damages resulting from such default. If one In case of such default with respect to the purchase of 10 % or more Underwriters default under less of the Registered Units included within the Underwritten Securities, we will purchase additional Registered Units as set forth in Section 9 of the Underwriting Agreement. If such default exceeds 10% of the Registered Units included within the Underwritten Securities, if provided in the Underwriting Agreement you may (are authorized, but shall not be obligated to) obligated, to arrange for the purchase by othersother persons, which who may include yourselves yourself or other non-defaulting Underwritersany nondefaulting Underwriter, of all or a that defaulted portion in excess of the Securities no taken up by the defaulting Underwriters10%. In the event that If such arrangements are made, the respective underwriting obligations we will purchase Registered Units not exceeding our original commitments under Section 9 of the non-defaulting Underwriters Underwriting Agreement, and the amounts additional number of the Securities Registered Units to be purchased by othersthe nondefaulting Underwriters and by such other persons, if any, shall be added to our original commitments and shall together be taken as the basis for all rights determining the proportionate several obligations and obligations hereunderbenefits hereunder and under the Underwriting Agreement, but this shall not in any no way affect the liability of any defaulting Underwriter for damages resulting from such default. If there is any default as to the other Underwriters for damage resulting from its default, nor shall any such default relieve any other Underwriter purchase of any portion of its obligations hereunder or under the Underwriting Agreement except as herein or therein provided. In additionRegistered Units, in the event of default by one or more Underwriters in respect of their obligations under the Underwriting Agreement you are authorized, but shall not be obligated, to purchase or to arrange for the Securities agreed to be purchased purchase by them thereunder and, to the extent that arrangements shall not have been made by you for any person to assume the obligations of such defaulting Underwriter or Underwriters, we agree, if provided in the Underwriting Agreement, to assume our proportionate share, based upon our underwriting obligation, nondefaulting Underwriters of the obligations of each defaulting Underwriter without relieving any such defaulting Underwriter of its liability therefordefaulted portion.
Appears in 1 contract
Samples: Cotton Valley Resources Corp
DEFAULT BY UNDERWRITERS. Default by any Underwriter one or more Underwriters in respect of its their obligations hereunder or under the Underwriting Agreement shall not release us from any of our obligations or in any way affect the liability obligations. In case of such defaulting Underwriter to the other Underwriters for damages resulting from such default. If default by one or more Underwriters, you are authorized to increase, pro rata with the other non-defaulting Underwriters, the number of Shares which we shall be obligated to purchase from the Company, provided that the aggregate amount of all such increases for all non-defaulting Underwriters default under shall not exceed 10% of the Underwriting AgreementShares, and, if provided in the Underwriting Agreement aggregate number of the Shares not taken up by such defaulting Underwriters exceeds such 10%, you may (are further authorized, but shall not be obligated to) obligated, to arrange for the purchase by othersother persons, which who may include yourselves or other non-defaulting Underwritersyourselves, of all or a portion of the Securities no Shares not taken up by the defaulting such Underwriters. In the event that any such increases or arrangements are made, the respective underwriting obligations members of Shares to be purchased by the non-defaulting Underwriters and the amounts of the Securities to be purchased by others, if any, any such other person or persons shall be taken as the basis for all rights and the underwriting obligations hereunderunder this Agreement, but this shall not in any way affect the liability of any defaulting Underwriter Underwriters to the other Underwriters for damage damages resulting from its such default, nor shall any such default relieve any other Underwriter of any of its obligations hereunder or under the Underwriting Agreement except as herein or therein provided. In addition, in the event of default by one or more Underwriters in respect of their obligations under the Underwriting this Agreement to purchase the Securities agreed to be take up and pay for any shares of common stock purchased by them thereunder andyou for their respective accounts pursuant to Section 9 hereof, or to deliver any such shares of common stock sold or over-allotted by you for their respective accounts pursuant to any provisions of this Agreement, and to the extent that arrangements shall not have been made by you for any person other persons to assume the obligations of such defaulting Underwriter or Underwriters, we agree, if provided in the Underwriting Agreement, to each non-defaulting Underwriter shall assume our its proportionate share, based upon our underwriting obligation, share of the aforesaid obligations of each such defaulting Underwriter without relieving any such defaulting Underwriter of its liability therefor.
Appears in 1 contract
Samples: TBC Capital Statutory Trust
DEFAULT BY UNDERWRITERS. Default by any Underwriter one or more Underwriters in respect of its their obligations hereunder or under the Underwriting Agreement shall not release us from any of our obligations or in any way affect the liability obligations. In case of such defaulting Underwriter to the other Underwriters for damages resulting from such default. If default by one or more Underwriters, you are authorized to increase, pro rata with the other nondefaulting Underwriters, the number of Shares which we shall be obligated to purchase from the Company, provided that the aggregate amount of all such increases for all non-defaulting Underwriters default under shall not exceed 10% of the Underwriting AgreementShares, and, if provided in the Underwriting Agreement aggregate number of the Shares not taken up by such defaulting Underwriters exceeds such 10%, you may (are further authorized, but shall not be obligated to) obligated, to arrange for the purchase by othersother persons, which who may include yourselves or other non-defaulting Underwritersyourselves, of all or a portion of the Securities no Shares not taken up by the defaulting such Underwriters. In the event that any such increases or arrangements are made, the respective underwriting obligations numbers of Shares to be purchased by the non-defaulting Underwriters and the amounts of the Securities to be purchased by others, if any, any such other person or persons shall be taken as the basis for all rights and the underwriting obligations hereunderunder this Agreement, but this shall not in any way affect the liability of any defaulting Underwriter Underwriters to the other Underwriters for damage damages resulting from its such default, nor shall any such default relieve any other Underwriter of any of its obligations hereunder or under the Underwriting Agreement except as herein or therein provided. In addition, in the event of default by one or more Underwriters in respect of their obligations under the Underwriting this Agreement to purchase the Securities agreed to be take up and pay for any shares of common stock purchased by them thereunder andyou for their respective accounts pursuant to Section 9 hereof, or to deliver any such shares of common stock sold or over-allotted by you for their respective accounts pursuant to any provisions of this Agreement, and to the extent that arrangements shall not have been made by you for any person other persons to assume the obligations of such defaulting Underwriter or Underwriters, we agree, if provided in the Underwriting Agreement, to each non-defaulting Underwriter shall assume our its proportionate share, based upon our underwriting obligation, share of the aforesaid obligations of each such defaulting Underwriter without relieving any such defaulting Underwriter of its liability therefor.
Appears in 1 contract
Samples: HLM Design Inc
DEFAULT BY UNDERWRITERS. Default Defaults by any Underwriter in respect of its obligations hereunder or under the Underwriting Agreement shall not release us from any of our obligations or in any way affect the liability of such defaulting Underwriter to the other Underwriters for damages resulting from such default. If one or more Underwriters default under the Underwriting Agreement, if provided in the such Underwriting Agreement you may (but shall not be obligated to) arrange for the purchase by others, which may include yourselves or other non-defaulting nondefaulting Underwriters, of all or a portion of the Securities no not taken up by the defaulting Defaulting Underwriters. In the event that such arrangements are made, the respective underwriting obligations of the non-defaulting Underwriters and the amounts of the Securities to be purchased by others, if any, shall be taken as the basis for all rights and obligations hereunder, but this shall not in any way affect the liability of any defaulting Underwriter to the other Underwriters for damage damages resulting from its default, nor shall any such default relieve any other Underwriter of any of its obligations hereunder or under the Underwriting Agreement except as herein or therein provided. In addition, in the event of default by one or more Underwriters in respect of their obligations under the Underwriting Agreement to purchase the Securities agreed to be purchased by them thereunder and, to the extent that arrangements shall not have been made by you for any person to assume the obligations of such defaulting Underwriter or Underwriters, we agree, if provided in the Underwriting Agreement, agree to assume our proportionate share, based upon our underwriting obligation, of the obligations of each such defaulting Underwriter (subject to the limitations contained in the Underwriting Agreement) without relieving such defaulting Underwriter of its liability therefor. In the event of default by one or more Underwriters in respect of their obligations under this Agreement to take up and pay for any securities purchased or to deliver any securities sold or over-allotted, by you for the respective accounts of the Underwriters, or to bear their proportion of expenses or liabilities pursuant to this Agreement, and to the extent that arrangements shall not have been made by you for any persons to assume the obligations of such defaulting Underwriter or Underwriters, we agree to assume our proportionate share, based upon our respective underwriting obligation, of the obligations of each defaulting Underwriter without relieving any such defaulting Underwriter of its liability therefor.
Appears in 1 contract
DEFAULT BY UNDERWRITERS. Default by any Underwriter in respect of its obligations one or more Underwriters hereunder or under the Underwriting Agreement shall will not release us the other Underwriters from any of our their obligations or in any way affect the liability of such any defaulting Underwriter to the other Underwriters for damages resulting from such default. If one or more Underwriters default under the Underwriting Agreement, if provided in the Underwriting Agreement you may (but shall are not be obligated obilgated to) arrange for the purchase by others, which may include yourselves or other including non-defaulting Underwriters, of all or a portion of the Securities no not taken up by the defaulting Underwriter or Underwriters. In the event that such arrangements are made, the respective underwriting obligations of the non-defaulting Underwriters and the amounts of the Securities to be purchased by others, if any, shall be taken as the basis for all rights and obligations hereunder, but this shall not in any way affect the liability of any defaulting Underwriter to the other Underwriters for damage damages resulting from its default, nor shall any such default relieve any other Underwriter of any of its obligations hereunder or under the Underwriting Agreement except as herein or therein provided. In addition, in the event of default by one or more Underwriters in respect of their obligations under the Underwriting Agreement to purchase the Securities agreed to be purchased by them thereunder and, to the extent that arrangements shall not have been made by you for any person to assume the obligations of such defaulting Underwriter or Underwriters, we agree, if provided in the Underwriting Agreement, to assume our proportionate share, based upon our underwriting obligation, of the obligations of each such defaulting Underwriter (subject to any limitation contained in the Underwriting Agreement) without relieving such defaulting Underwriter of its liability therefor. In the event of default by one or more Underwriters in respect of their obligations under this Agreement to take up and pay for any securities purchased, or to deliver any securities sold or over-allotted, by you for the respective accounts of the Underwriters, or to bear their proportion of expenses or liabilities pursuant to this Agreement, and to the extent that arrangements shall not have been made by you for any persons to assume the obligations of such defaulting Underwriter or Underwriters, we agree to assume our proportionate share, based upon our underwriting obligation, of the obligations of each defaulting Underwriter without relieving any such defaulting Underwriter of its liability therefor.
Appears in 1 contract
Samples: Master Agreement (Echapman Com Inc)
DEFAULT BY UNDERWRITERS. Default by any Underwriter in respect of its obligations hereunder or under the Underwriting Agreement shall not release us from any of our obligations or in any way affect the liability of such defaulting Underwriter to the other Underwriters for damages resulting from such default. If one or more Underwriters default under the Underwriting Agreement, if provided in the Underwriting Agreement you may (but shall not be obligated to) arrange for the purchase by othersother, which may include yourselves or other non-defaulting nondefaulting Underwriters, of all or a portion of the Securities no not taken up by the defaulting Underwriters. In the event that If such arrangements are made, the respective original underwriting obligations commitments of the non-defaulting Underwriters and the amounts of the Securities to be purchased by others, if any, shall be taken as the basis for all rights and obligations hereunder, but this shall not in any way affect the liability of any defaulting Underwriter to the other Underwriters for damage damages resulting from its default, nor shall any such default relieve any other Underwriter of any of its obligations hereunder or under the Underwriting underwriting Agreement except as herein or therein provided. In addition, in the event of default by one or more Underwriters in respect of their obligations under the Underwriting Agreement to purchase the Securities agreed to be purchased by them thereunder and, to the extent that arrangements shall not have been made by you for any person to assume the obligations of such defaulting Underwriter or Underwriters, we agree, if provided in the Underwriting Agreement, agree to assume our proportionate share, based upon our original underwriting obligationcommitment, of the obligation of each such defaulting Underwriter (subject to the limitations contained in the Underwriting Agreement) without relieving such defaulting Underwriter of its liability therefore. In the event of default by one or more Underwriters in respect of their obligations under this Agreement to take up and pay for any securities purchased, or to deliver any securities sold or over allotted, by you for the respective accounts of the Underwriters, or to bear their proportion of expenses or liabilities pursuant to this Agreement, and to the extent that arrangements shall not have been made by you for any persons to assume the obligations of such defaulting Underwriter or Underwriters, we agree to assume our proportionate share, based upon our original underwriting commitment, of the obligations of each defaulting Underwriter without relieving any such defaulting Underwriter of its liability therefor.
Appears in 1 contract
DEFAULT BY UNDERWRITERS. Default by any Underwriter in respect of its obligations hereunder or under the Underwriting Purchase Agreement shall not release us from any of our obligations or in any way affect the liability of such defaulting Underwriter to the other Underwriters for damages resulting from such default. If one or more Underwriters default under the Underwriting Purchase Agreement, if provided in the Underwriting such Purchase Agreement you may (but shall not be obligated to) arrange for the purchase by others, which may include yourselves or other non-defaulting Underwriters, of all or a portion of the Securities no not taken up by the defaulting Underwriters. In the event that such arrangements are made, the respective underwriting obligations of the non-defaulting Underwriters and the amounts of the Securities to be purchased by others, if any, shall be taken as the basis for all rights and obligations hereunder, but this shall not in any way affect the liability of any defaulting Underwriter to the other Underwriters for damage resulting from its default, nor shall any such default relieve any other Underwriter of any of its obligations hereunder or under the Underwriting Purchase Agreement except as herein or therein provided. In addition, in the event of default by one or more Underwriters in respect of their obligations under the Underwriting Purchase Agreement to purchase the Securities agreed to be purchased by them thereunder and, to the extent that arrangements shall not have been made by you for any person to assume the obligations of such defaulting Underwriter or Underwriters, we agree, if provided in the Underwriting Purchase Agreement, to assume our proportionate share, based upon our underwriting obligation, of the obligations of each such defaulting Underwriter (subject to the limitations contained in the Purchase Agreement) without relieving such defaulting Underwriter of its liability therefor. In the event of default by one or more Underwriters in respect of their obligations under this Agreement to take up and pay for any securities purchased, or to deliver any securities sold or overalloted, by you for the respective accounts of the Underwriters, or to bear their proportion of expenses or liabilities pursuant to this Agreement, and to the extent that arrangements shall not have been made by you for any persons to assume the obligations of such defaulting Underwriter or Underwriters, we agree to assume our proportionate share, based upon our respective underwriting obligation, of the obligations of each defaulting Underwriter without relieving any such defaulting Underwriter of its liability therefor.
Appears in 1 contract
Samples: Master Agreement (Chartwell Dividend & Income Fund Inc)
DEFAULT BY UNDERWRITERS. Default by any Underwriter in respect of its obligations hereunder or under the Underwriting Agreement shall not release us from any of our obligations or in any way affect the liability of such defaulting Underwriter to the other Underwriters for damages resulting from such default. If one or more Underwriters default in respect of their obligations under the Underwriting this Agreement, if provided in the Underwriting Agreement you may (but or any Inter-Syndicate Agreement, shall not be obligated to) arrange for the purchase by others, which may include yourselves release you from any of your obligations or other non-defaulting Underwriters, of all or a portion of the Securities no taken up by the defaulting Underwriters. In the event that such arrangements are made, the respective underwriting obligations of the non-defaulting Underwriters and the amounts of the Securities to be purchased by others, if any, shall be taken as the basis for all rights and obligations hereunder, but this shall not in any way affect the liability of any defaulting Underwriter to the other Underwriters for damage damages resulting from its such default, nor shall any . In the event of such default relieve by one or more Underwriters, you agree (subject to any other Underwriter limitations contained in the Underwriting Agreement, any Inter-Syndicate Agreement or any Selected Dealer agreements) to assume your proportionate share, based upon the proportion that the amount of any of its obligations hereunder or under the Securities set forth in the Underwriting Agreement except as herein or therein providedopposite your name bears to the aggregate amount of the Securities set forth in the Underwriting Agreement opposite the names of all non-defaulting Underwriters, of the obligations of such Underwriter without relieving such Underwriter of its liability therefor. In addition, in the event of default by one or more Underwriters in respect of their obligations under the Underwriting this Agreement to purchase the take up and pay for any Securities agreed to be purchased by them thereunder andthe Representatives for their respective accounts pursuant to Section 12 hereof, or to deliver any such Securities sold or overallotted by the Representatives for their respective accounts pursuant to any provision of this Agreement, and to the extent that arrangements shall not have been made by you the Representatives for any person other persons to assume the obligations of such defaulting Underwriter or Underwriters, we agree, if provided in the Underwriting Agreement, to each non-defaulting Underwriter shall assume our its proportionate share, based upon our underwriting obligationthe proportion that the amount of the Securities set forth in the Underwriting Agreement opposite your name bears to the aggregate amount of the Securities set forth in the Underwriting Agreement opposite the names of all non-defaulting Underwriters, of the aforesaid obligations of each such defaulting Underwriter without relieving any such defaulting Underwriter of its liability therefor.
Appears in 1 contract
Samples: Incorporated Master Agreement (Tortoise Energy Capital Corp)
DEFAULT BY UNDERWRITERS. Default by any Underwriter in respect of its obligations hereunder or under the Underwriting Agreement shall not release us from any of our obligations or in any way affect the liability of such defaulting Underwriter to the other Underwriters for damages resulting from such default. If one or more Underwriters default in respect of their obligations under the Underwriting this Agreement, if provided in the Underwriting Agreement you may (but or any Inter-Syndicate Agreement, shall not be obligated to) arrange for the purchase by others, which may include yourselves release you from any of your obligations or other non-defaulting Underwriters, of all or a portion of the Securities no taken up by the defaulting Underwriters. In the event that such arrangements are made, the respective underwriting obligations of the non-defaulting Underwriters and the amounts of the Securities to be purchased by others, if any, shall be taken as the basis for all rights and obligations hereunder, but this shall not in any way affect the liability of any defaulting Underwriter to the other Underwriters for damage damages resulting from its such default, nor shall any . In the event of such default relieve by one or more Underwriters, you agree (subject to any other Underwriter limitations contained in the Underwriting Agreement, any Inter-Syndicate Agreement or any Selected Dealer agreements) to assume your proportionate share, based upon the proportion that the amount of any of its obligations hereunder or under the Securities set forth in the Underwriting Agreement except as herein or therein providedopposite your name bears to the aggregate amount of the Securities set forth in the Underwriting Agreement opposite the names of all non-defaulting Underwriters, of the obligations of such Underwriter without relieving such Underwriter of its liability therefor. In addition, in the event of default by one or more Underwriters in respect of their obligations under the Underwriting this Agreement to purchase the take up and pay for any Securities agreed to be purchased by them thereunder andthe Representatives for their respective accounts pursuant to Section 12 hereof, or to deliver any such Securities sold or over-allotted by the Representatives for their respective accounts pursuant to any provision of this Agreement, and to the extent that arrangements shall not have been made by you the Representatives for any person other persons to assume the obligations of such defaulting Underwriter or Underwriters, we agree, if provided in the Underwriting Agreement, to each non-defaulting Underwriter shall assume our its proportionate share, based upon our underwriting obligation, share of the aforesaid obligations of each such defaulting Underwriter without relieving any such defaulting Underwriter of its liability therefor.
Appears in 1 contract
DEFAULT BY UNDERWRITERS. Default by any Underwriter in respect of its obligations hereunder or under the Underwriting Purchase Agreement shall not release us from any of our obligations or in any way affect the liability of such defaulting Underwriter to the other Underwriters for damages resulting from such default. If one or more Underwriters default under the Underwriting Purchase Agreement, if provided in the Underwriting such Purchase Agreement you may (but shall not be obligated to) arrange for the purchase by others, which may include yourselves or other non-defaulting Underwriters, of all or a portion of the Securities no not taken up by the defaulting Underwriters. In the event that such arrangements are made, the respective underwriting obligations of the non-defaulting Underwriters and the amounts of the Securities to be purchased by others, if any, shall be taken as the basis for all rights and obligations hereunder, ; but this shall not in any way affect the liability of any defaulting Underwriter Underwriters to the other Underwriters for damage damages resulting from its default, nor shall any such default relieve any other Underwriter of any of its obligations hereunder or under the Underwriting Purchase Agreement except as herein or therein provided. In addition, in the event of default by one or more Underwriters in respect of their obligations under the Underwriting Purchase Agreement to purchase the Securities agreed to be purchased by them thereunder and, to the extent that arrangements shall not have been made by you for any person to assume the obligations of such defaulting Underwriter or Underwriters, we agree, if provided in the Underwriting Purchase Agreement, to assume our proportionate share, based upon our underwriting obligation, of the obligations of each such defaulting Underwriter (subject to the limitations contained in the Purchase Agreement) without relieving such defaulting Underwriter of its liability therefor. In the event of default by one or more Underwriters in respect of their obligations under this Agreement to take up and pay for any securities purchased, or to deliver any securities sold or over-allotted, by you for the respective accounts of the Underwriters, or to bear their proportion of expenses or liabilities pursuant to this Agreement, and to the extent that arrangements shall not have been made by you for any persons to assume the obligations of such defaulting Underwriter or Underwriters, we agree to assume our proportionate share, based upon our respective underwriting obligation, of the obligations of each defaulting Underwriter without relieving any such defaulting Underwriter of its liability therefor.
Appears in 1 contract
Samples: Master Agreement (Scudder Commodities Stock Fund, Inc.)
DEFAULT BY UNDERWRITERS. Default by any Underwriter in respect of its obligations hereunder or under the Underwriting Agreement shall not release us from any of our obligations or in any way affect the liability of such defaulting Underwriter to the other Underwriters or defaulting International Manager, if any, to the other Underwriters or International Managers, if any, for damages resulting from such default. If one or more Underwriters or, in the case of a Two-Tranche Offering, International Managers default under the Underwriting Agreement, if provided in the Underwriting Agreement Agreement, you may (but shall not be obligated to) arrange for the purchase (and entitlement to the underwriting commission) by others, which may include yourselves or other non-defaulting UnderwritersUnderwriters or other non-defaulting International Managers, if any, of all al1 or a portion of the Securities no not taken up by the defaulting UnderwritersUnderwriters or International Managers, as the case may be. In the event that If such arrangements are made, the respective original underwriting obligations commitments of the non-defaulting Underwriters and the amounts of the Securities to be purchased by others, if any, shall shal1 be taken as the basis for all rights and obligations hereunder, but this shall shal1 not in any way affect the liability of any defaulting Underwriter or defaulting International Manager, if any, to the other Underwriters or International Managers, if any, for damage damages resulting from its default, nor shall shal1 any such default relieve any other Underwriter or other International Manager, if any, of any of its obligations hereunder or under the Underwriting Agreement except as herein or therein provided. In addition, in the event of a default by one or more Underwriters or International Managers, if any, in respect of their obligations under the Underwriting Agreement to purchase the Securities agreed to be purchased by them thereunder andthereunder, and to the extent that arrangements shall shal1 not have been made by you for any person to assume the obligations of such defaulting Underwriter or UnderwritersUnderwriters or International Manager or International Managers, we agree, if provided in the Underwriting Agreement, to assume our proportionate share, based upon the ratio of our original underwriting obligationcommitment to the aggregate original underwriting commitments of the other non-defaulting Underwriters (except in the case of a Two-Tranche Offering, in which case, to the aggregate original underwriting commitments of the other non- defaulting Underwriters and non-defaulting International Managers) of the obligations of each such defaulting Underwriter and defaulting International Manager (subject to the limitations contained in the Underwriting Agreement) without relieving such defaulting Underwriter or defaulting International Manager of its liability therefor. In the event of default by one or more Underwriters in respect of their obligations under this Agreement to take up and pay for any securities purchased, or to deliver any securities sold or over-allotted by you for the respective accounts of the several Underwriters, or to bear their proportion of expenses or liabilities pursuant to this Agreement, and to the extent that arrangements shall not have been made by you for any persons to assume the obligations of such defaulting Underwriter or Underwriters, we agree to assume our proportionate share, based upon the ratio of our original underwriting commitment to the aggregate original underwriting commitments of the other non-defaulting Underwriters of the obligations of each defaulting Underwriter without relieving any such defaulting Underwriter of its liability therefor.
Appears in 1 contract
DEFAULT BY UNDERWRITERS. Default by any Underwriter one or more Underwriters in respect of its their obligations hereunder or under the Underwriting Agreement shall not release us from any of our obligations or in any way affect the liability obligations. In case of such defaulting Underwriter to the other Underwriters for damages resulting from such default. If default by one or more Underwriters, you are authorized to increase, pro rata with the other non-defaulting Underwriters, the number of Shares which we shall be obligated to purchase from the Company, provided that the aggregate amount of all such increases for all non-defaulting Underwriters default under shall not exceed 10% of the Underwriting AgreementShares, and, if provided in the Underwriting Agreement aggregate number of the Shares not taken up by such defaulting Underwriters exceeds such 10%, you may (are further authorized, but shall not be obligated to) obligated, to arrange for the purchase by othersother persons, which who may include yourselves or other non-defaulting Underwritersyourselves, of all or a portion of the Securities no Shares not taken up by the defaulting such Underwriters. In the event that any such increases or arrangements are made, the respective underwriting obligations number of Shares to be purchased by the non-defaulting Underwriters and the amounts of the Securities to be purchased by others, if any, any such other person or persons shall be taken as the basis for all rights and the underwriting obligations hereunderunder this Agreement, but this shall not in any way affect the liability of any defaulting Underwriter Underwriters to the other Underwriters for damage damages resulting from its such default, nor shall any such default relieve any other Underwriter of any of its obligations hereunder or under the Underwriting Agreement except as herein or therein provided. In addition, in the event of default by one or more Underwriters in respect of their obligations under the Underwriting this Agreement to purchase the Securities agreed to be take up and pay for any Shares purchased by them thereunder andyou for their respective accounts pursuant to Section 9 hereof, or to deliver any such Shares for their respective accounts pursuant to any provisions of this Agreement, and to the extent that arrangements shall not have been made by you for any person other persons to assume the obligations of such defaulting Underwriter or Underwriters, we agree, if provided in the Underwriting Agreement, to each non-defaulting Underwriter shall assume our its proportionate share, based upon our underwriting obligation, share of the aforesaid obligations of each such defaulting Underwriter without relieving any such defaulting Underwriter of its liability therefor.
Appears in 1 contract
Samples: Ready Mix, Inc.
DEFAULT BY UNDERWRITERS. Default by any Underwriter in respect of its obligations hereunder or under the Underwriting Agreement shall not release us from any of our obligations or in any way affect the liability of such defaulting Underwriter to the other Underwriters for damages resulting from such default. If one or more Underwriters default in respect of their obligations under the Underwriting this Agreement, if provided in the Underwriting Agreement you may (but or any Inter-Syndicate Agreement, shall not be obligated to) arrange for the purchase by others, which may include yourselves release you from any of your obligations or other non-defaulting Underwriters, of all or a portion of the Securities no taken up by the defaulting Underwriters. In the event that such arrangements are made, the respective underwriting obligations of the non-defaulting Underwriters and the amounts of the Securities to be purchased by others, if any, shall be taken as the basis for all rights and obligations hereunder, but this shall not in any way affect the liability of any defaulting Underwriter to the other Underwriters for damage damages resulting from its such default, nor shall any . In the event of such default relieve by one or more Underwriters, you agree (subject to any other Underwriter limitations contained in the Underwriting Agreement, any Inter-Syndicate Agreement or any Selected Dealer agreements) to assume your proportionate share, based upon the proportion that the amount of any of its obligations hereunder or under the Securities set forth in the Underwriting Agreement except as herein or therein providedopposite your name bears to the aggregate amount of the Securities set forth in the Underwriting Agreement opposite the names of all non-defaulting Underwriters, of the obligations of such Underwriter without relieving such Underwriter of its liability therefor. In addition, in the event of default by one or more Underwriters in respect of their obligations under the Underwriting this Agreement to purchase the take up and pay for any Securities agreed to be purchased by them thereunder andthe Representatives for their respective accounts pursuant to Section 12 hereof, or to deliver any such Securities sold or over-allotted by the Representatives for their respective accounts pursuant to any provision of this Agreement, and to the extent that arrangements shall not have been made by you the Representatives for any person other persons to assume the obligations of such defaulting Underwriter or Underwriters, we agree, if provided in the Underwriting Agreement, to each non-defaulting Underwriter shall assume our its proportionate share, based upon our underwriting obligationthe proportion that the amount of the Securities set forth in the Underwriting Agreement opposite your name bears to the aggregate amount of the Securities set forth in the Underwriting Agreement opposite the names of all non-defaulting Underwriters, of the aforesaid obligations of each such defaulting Underwriter without relieving any such defaulting Underwriter of its liability therefor.
Appears in 1 contract
Samples: Tortoise Energy Infrastructure Corp
DEFAULT BY UNDERWRITERS. Default by any Underwriter in respect of its obligations hereunder or under the Underwriting Agreement shall not release us from any of our obligations or in any way affect the liability of such defaulting Underwriter to the other Underwriters for damages resulting from such default. If one or more Underwriters default under the Underwriting Agreement, and if it is so provided in the such Underwriting Agreement Agreement, you may (but shall not be obligated to) arrange for the purchase by others, which may include yourselves or other non-defaulting Underwriters, of all or a portion of the Securities no not taken up by the defaulting Underwriters. In the event that such arrangements are made, the respective underwriting obligations of the non-defaulting nondefaulting Underwriters and the amounts of the Securities to be purchased by others, if any, shall be taken as the basis for all rights and obligations hereunder, but this shall not in any way affect the liability of any defaulting Underwriter to the other Underwriters for damage damages resulting from its default, nor shall any such default relieve any other Underwriter of any of its obligations hereunder or under the Underwriting Agreement except as herein or therein provided. In addition, in the event of default by one or more Underwriters in respect of their obligations under the Underwriting Agreement to purchase the Securities agreed to be purchased by them thereunder and, to the extent that arrangements shall not have been made by you for any person to assume the obligations of such defaulting Underwriter or Underwriters, we agree, if it is so provided in the such Underwriting Agreement, to assume our proportionate share, based upon our underwriting obligation, of the obligations of each such defaulting Underwriter (subject to the limitations contained in such Underwriting Agreement) without relieving such defaulting Underwriter of its liability therefor. In the event of default by one or more Underwriters in respect of their obligations under this Agreement to take up and pay for any securities purchased, or to deliver any securities sold or over-allotted, by you for the respective accounts of the Underwriters, or to bear their proportion of expenses or liabilities pursuant to this Agreement, and to the extent that arrangements shall not have been made by you for any persons to assume the obligations of such defaulting Underwriter or Underwriters, we agree to assume our proportionate share, based upon our respective underwriting obligation, of the obligations of each defaulting Underwriter without relieving any such defaulting Underwriter of its liability therefor.
Appears in 1 contract
Samples: U S Laboratories Inc
DEFAULT BY UNDERWRITERS. Default by any Underwriter in respect of its obligations hereunder or under the Underwriting Agreement shall not release us from any of our obligations or in any way affect the liability of such defaulting Underwriter to the other Underwriters or defaulting International Manager, if any, to the other Underwriters or International Managers, if any, for damages resulting from such default. If one or more Underwriters or, in the case of a Two-Tranche Offering, International Managers default under the Underwriting Agreement, if provided in the Underwriting Agreement you may (but shall not be obligated to) arrange for the purchase by others, which may include yourselves or other non-defaulting UnderwritersUnderwriters or other non-defaulting International Managers, if any, of all or a portion of the Securities no not taken up by the defaulting UnderwritersUnderwriters or International Managers, as the case may be. In the event that If such arrangements are made, the respective original underwriting obligations commitments of the non-defaulting Underwriters and the amounts of the Securities to be purchased by others, if any, shall be taken as the basis for all rights and obligations hereunder, ; but this shall not in any way way, affect the liability of any defaulting Underwriter or defaulting International Manager, if any, to the other Underwriters or International Managers, if any, for damage damages resulting from its default, nor shall any such default relieve any other Underwriter or other International Manager, if any, of any of its obligations hereunder or under the Underwriting Agreement except as herein or therein provided. In addition, in the event of default by one or more Underwriters or International Managers, if any, in respect of their obligations under the Underwriting Agreement to purchase the Securities agreed to be purchased by them thereunder and, to the extent that arrangements shall not have been made by you for any person to assume the obligations of such defaulting Underwriter or UnderwritersUnderwriters or International Manager or International Managers, we agree, if provided in the Underwriting Agreement, to assume our proportionate share, based upon the ratio of our original underwriting obligationcommitment to the aggregate original underwriting commitments of the other non-defaulting Underwriters except in the case of a Two-Tranche Offering, in which case, to the aggregate original underwriting commitments of the other non-defaulting Underwriters and non-defaulting International Managers, of the obligations of each such defaulting Underwriter and defaulting International Manager (subject to the limitations contained in the Underwriting Agreement) without relieving such defaulting Underwriter or defaulting International Manager of its liability therefor. In the event of default by one or more Underwriters in respect of their obligations under this Agreement to take up and pay for any securities purchased, or to deliver any securities sold or over-allotted by you for the respective accounts of the Underwriters, or to bear their proportion of expenses or liabilities pursuant to this Agreement, and to the extent that arrangements shall not have been made by you for any persons to assume the obligations of such defaulting Underwriter or Underwriters, we agree to assume our proportionate share, based upon the ratio of our original underwriting commitment to the aggregate original underwriting commitments of the other non-defaulting Underwriters of the obligations of each defaulting Underwriter without relieving any such defaulting Underwriter of its liability therefor.
Appears in 1 contract
DEFAULT BY UNDERWRITERS. Default by any Underwriter in ----------------------- respect of its obligations hereunder or under the Underwriting Agreement shall not release us from any of our obligations or in any way affect the liability of such defaulting Underwriter to the other Underwriters for damages resulting from such default. If In the event of such default by one or more Underwriters, you are authorized to increase, pro rata with the other non-defaulting Underwriters, the amount of Securities which we shall be obligated to purchase from the Company; provided, however, that the aggregate amount of all such increases for all non-defaulting Underwriters default under shall not exceed 10% of the Underwriting AgreementSecurities and, if provided in the Underwriting Agreement aggregate amount of the Securities not taken up by such defaulting Underwriters exceeds such 10%, you may (are further authorized, but shall not be obligated to) to arrange for the purchase by othersother persons, which who may include yourselves or you and other non-non- defaulting Underwriters, of all or a portion of the Securities no not taken up by the defaulting such Underwriters. In the event that any such increases or arrangements are made, the respective underwriting obligations of the non-defaulting Underwriters and the amounts of the Securities to be purchased by others, if any, the non-defaulting Underwriters and by any such other person or persons shall be taken as the basis for all rights and the Underwriters' obligations hereunderunder this Agreement, but this shall not in any way affect the liability of any defaulting Underwriter to the other Underwriters for damage damages resulting from its such default, nor shall any such default relieve any other Underwriter of any of its obligations hereunder or under the Underwriting Agreement except as herein or therein provided. In addition, in the event of default by one or more Underwriters in respect of their obligations under the Underwriting this Agreement to purchase take up and pay for any Securities purchased, or to deliver any such Securities sold or over-allotted by you for the Securities agreed respective accounts of the Underwriters or to be purchased by them thereunder andbear their proportion of expenses or liability pursuant to the Agreement, and to the extent that arrangements shall not have been made by you for any person other persons to assume the obligations of such defaulting Underwriter or Underwriters, we agree, if provided in the Underwriting Agreement, each non-defaulting Underwriter agrees to assume our proportionate share, based upon our underwriting obligation, share of the aforesaid obligations of each such defaulting Underwriter without relieving any such defaulting Underwriter of its liability therefor.
Appears in 1 contract
Samples: Grand Court Lifestyles Inc
DEFAULT BY UNDERWRITERS. Default by any Underwriter in respect of its obligations hereunder or under the Underwriting Purchase Agreement shall not release us from any of our obligations or in any way affect the liability of such defaulting Underwriter to the other Underwriters for damages resulting from such default. If one or more Underwriters default under the Underwriting Purchase Agreement, if provided in the Underwriting such Purchase Agreement you may (but shall not be obligated to) arrange for the purchase by others, which may include yourselves or other non-defaulting Underwriters, of all or a portion of the Securities no not taken up by the defaulting Underwriters. In the event that such arrangements are made, the respective underwriting obligations of the non-defaulting Underwriters and the amounts of the Securities to be purchased by others, if any, shall be taken as the basis for all rights and obligations hereunder, ; but this shall not in any way affect the liability of any defaulting Underwriter to the other Underwriters for damage damages resulting from its default, nor shall any such default relieve any other Underwriter of any of its obligations hereunder or under the Underwriting Purchase Agreement except as herein or therein provided. In addition, in the event of default by one or more Underwriters in respect of their obligations under the Underwriting Purchase Agreement to purchase the Securities agreed to be purchased by them thereunder and, to the extent that arrangements shall not have been made by you for any person to assume the obligations of such defaulting Underwriter or Underwriters, we agree, if provided in the Underwriting Purchase Agreement, to assume our proportionate share, based upon our underwriting obligation, of the obligations of each such defaulting Underwriter (subject to the limitations contained in the Purchase Agreement) without relieving such defaulting Underwriter of its liability therefor. In the event of default by one or more Underwriters in respect of their obligations under this Agreement to take up and pay for any securities purchased, or to deliver any securities sold or over–allotted, by you for the respective accounts of the Underwriters, or to bear their proportion of expenses or liabilities pursuant to this Agreement and to the extent that arrangements shall not have been made by you for any persons to assume the obligations of such defaulting Underwriter or Underwriters, we agree to assume our proportionate share, based upon our respective underwriting obligation, of the obligations of each defaulting Underwriter without relieving any such defaulting Underwriter of its liability therefor.
Appears in 1 contract
Samples: Master Agreement (Alpine Global Premier Properties Fund)
DEFAULT BY UNDERWRITERS. Default by any Underwriter one or more Underwriters in respect of its their several obligations hereunder pursuant hereto or under to the Underwriting Agreement shall not release us any other Underwriter from any its obligations (except as provided in Section 9 of our obligations the Underwriting Agreement, or in any way affect the liability of such any defaulting Underwriter to the other Underwriters for damages resulting from such default. If one or more Underwriters default under the Underwriting Agreement, if provided in you are authorized to increase pro rata with other nondefaulting Underwriters the principal amount of Securities which we shall be obligated to purchase pursuant to the Underwriting Agreement Agreement, provided that the aggregate number of all such increases for our account (exclusive of increases by exercise of the right to purchase Option Shares) shall not exceed 10% of our total commitment to purchase the Firm Shares set forth opposite our names in Schedule I to the Underwriting Agreement; and you may (are further authorized, but shall not be obligated to) obligated, to arrange for the purchase by othersother persons, which may include yourselves or other non-defaulting including nondefaulting Underwriters, of all or a portion of the Securities no not taken up by the such defaulting Underwriters. In the event that any such arrangements are made, the respective underwriting obligations number of the non-defaulting Securities purchased by nondefaulting Underwriters and the amounts of the Securities to be purchased by others, if any, any other persons shall be taken as the basis for all rights and obligations hereunder, but this shall not in any way affect the liability of any defaulting Underwriter to the other Underwriters for damage resulting from its default, nor shall any such default relieve any other Underwriter of any of its obligations hereunder or under the Underwriting Agreement except as herein or therein provided. In addition, in the event of default by one or more Underwriters in respect of their underwriting obligations under the Underwriting Agreement to purchase the Securities agreed to be purchased by them thereunder and, to the extent that arrangements shall not have been made by you for any person to assume the obligations of such defaulting Underwriter or Underwriters, we agree, if provided in the Underwriting this Agreement, to assume our proportionate share, based upon our underwriting obligation, of the obligations of each defaulting Underwriter without relieving any such defaulting Underwriter of its liability therefor.
Appears in 1 contract
Samples: Cavion Technologies Inc
DEFAULT BY UNDERWRITERS. Default by any Underwriter one or more Underwriters in respect of its their obligations hereunder or under the Underwriting Agreement shall not release us from any of our obligations or in any way affect the liability obligations. In case of such defaulting Underwriter to the other Underwriters for damages resulting from such default. If default by one or more Underwriters, you are authorized to increase, pro rata with the other nondefaulting Underwriters, the number of Shares which we shall be obligated to purchase from the Company, provided that the aggregate amount of all such increases for all non-defaulting Underwriters default under shall not exceed 10% of the Underwriting AgreementShares, and, if provided in the Underwriting Agreement aggregate number of the Shares not taken up by such defaulting Underwriters exceeds such 10%, you may (are further authorized, but shall not be obligated to) obligated, to arrange for the purchase by othersother persons, which who may include yourselves or other non-defaulting Underwritersyourselves, of all or a portion of the Securities no Shares not taken up by the defaulting such Underwriters. In the event that any such increases or arrangements are made, the respective underwriting obligations numbers of Shares to be purchased by the non-defaulting Underwriters and the amounts of the Securities to be purchased by others, if any, any such other person or persons shall be taken as the basis for all rights and the underwriting obligations hereunderunder this Agreement, but this shall not in any way affect the liability of any defaulting Underwriter Underwriters to the other Underwriters for damage damages resulting from its such default, nor shall any such default relieve any other Underwriter of any of its obligations hereunder or under the Underwriting Agreement except as herein or therein provided. In addition, in the event of default by one or more Underwriters in respect of their obligations under the Underwriting this Agreement to purchase the Securities agreed to be take up and pay for any shares of common stock purchased by them thereunder andyou for their respective accounts pursuant to Section 9 hereof, or to deliver any such shares of common stock sold or over- allotted by you for their respective accounts pursuant to any provisions of this Agreement, and to the extent that arrangements shall not have been made by you for any person other persons to assume the obligations of such defaulting Underwriter or Underwriters, we agree, if provided in the Underwriting Agreement, to each non-defaulting Underwriter shall assume our its proportionate share, based upon our underwriting obligation, share of the aforesaid obligations of each such defaulting Underwriter without relieving any such defaulting Underwriter of its liability therefor.
Appears in 1 contract
Samples: HLM Design Inc
DEFAULT BY UNDERWRITERS. Default by any Underwriter in respect of its obligations hereunder or under the Underwriting Agreement shall not release us from any of our obligations or in any way affect the liability of such defaulting Underwriter to the other Underwriters for damages resulting from such default. If one or more Underwriters default under the Underwriting Agreement, if provided in the such Underwriting Agreement Agreement, you may (but shall not be obligated to) arrange for the purchase by others, which may include yourselves or other non-defaulting Underwriters, of all or a portion of the Securities no not taken up by the defaulting Underwriters. In the event that such arrangements are made, the respective underwriting obligations of the non-defaulting Underwriters and the amounts of the Securities to be purchased by others, if any, shall be taken as the basis for all rights and obligations hereunder, ; but this shall not in any way affect the liability of any defaulting Underwriter to the other Underwriters for damage damages resulting from its default, nor shall any such default relieve any other Underwriter of any of its obligations hereunder or under the Underwriting Agreement Agreement, except as herein or therein provided. In addition, in the event of default by one or more Underwriters in respect of their obligations under the Underwriting Agreement to purchase the Securities agreed to be purchased by them thereunder and, to the extent that arrangements shall not have been made by you for any person to assume the obligations of such defaulting Underwriter or Underwriters, we agree, if provided in the Underwriting Agreement, to assume our proportionate share, based upon our underwriting obligation, of the obligations of each such defaulting Underwriter (subject to the limitations contained in the Underwriting Agreement) without relieving such defaulting Underwriter of its liability therefor. In the event of default by one or more Underwriters in respect of their obligations under this Agreement to take up and pay for any Securities purchased, or to deliver any Securities sold or over-allotted, by you for the respective accounts of the Underwriters, or to bear their proportionate share of expenses or liabilities pursuant to this Agreement, and to the extent that arrangements shall not have been made by you for any persons to assume the obligations of such defaulting Underwriter or Underwriters, we agree to assume our proportionate share, based upon our underwriting obligation relative to the underwriting obligations of all non-defaulting underwriters, of the obligations of each defaulting Underwriter without relieving any such defaulting Underwriter of its liability therefor.
Appears in 1 contract
DEFAULT BY UNDERWRITERS. Default by any Underwriter in respect of its obligations hereunder or under the Underwriting Purchase Agreement shall not release us from any of our obligations or in any way affect the liability of such defaulting Underwriter to the other Underwriters for damages resulting from such default. If one or more Underwriters default under the Underwriting Purchase Agreement, if provided in the Underwriting such Purchase Agreement you may (but shall not be obligated to) arrange for the purchase by others, which may include yourselves or other non-defaulting Underwriters, of all or a portion of the Securities no not taken up by the defaulting Underwriters. In the event that such arrangements are made, the respective underwriting obligations of the non-defaulting Underwriters and the amounts of the Securities to be purchased by others, if any, shall be taken as the basis for all rights and obligations hereunder, ; but this shall not in any way affect the liability of any defaulting Underwriter to the other Underwriters for damage damages resulting from its default, nor shall any such default relieve any other Underwriter of any of its obligations hereunder or under the Underwriting Purchase Agreement except as herein or therein provided. In addition, in the event of default by one or more Underwriters in respect of their obligations under the Underwriting Purchase Agreement to purchase the Securities agreed to be purchased by them thereunder and, to the extent that arrangements shall not have been made by you for any person to assume the obligations of such defaulting Underwriter or Underwriters, we agree, if provided in the Underwriting Purchase Agreement, to assume our proportionate share, based upon our underwriting obligation, of the obligations of each such defaulting Underwriter (subject to the limitations contained in the Purchase Agreement) without relieving such defaulting Underwriter of its liability therefor. In the event of default by one or more Underwriters in respect of their obligations under this Agreement to take up and pay for any securities purchased, or to deliver any securities sold or over — allotted, by you for the respective accounts of the Underwriters, or to bear their proportion of expenses or liabilities pursuant to this Agreement and to the extent that arrangements shall not have been made by you for any persons to assume the obligations of such defaulting Underwriter or Underwriters, we agree to assume our proportionate share, based upon our respective underwriting obligation, of the obligations of each defaulting Underwriter without relieving any such defaulting Underwriter of its liability therefor.
Appears in 1 contract
Samples: Master Agreement Among Underwriters (DWS RREEF World Real Estate & Tactical Strategies Fund, Inc.)
DEFAULT BY UNDERWRITERS. Default by any Underwriter in respect of its obligations one or more Underwriters hereunder or under the Underwriting Agreement shall not release us the other Underwriters from any of our their obligations or in any way affect the liability of such any defaulting Underwriter to the other Underwriters for damages resulting from such default. If one or more Underwriters default under the Underwriting Agreement, if provided in the Underwriting Agreement you may (but shall not be obligated to) arrange for the purchase by others, which may include yourselves including you or other non-defaulting Underwriters, of all or a portion of the Securities no not taken up by the defaulting Underwriter or Underwriters. In the event that such arrangements are made, the respective underwriting obligations of the non-defaulting Underwriters and the amounts of the Securities to be purchased by others, if any, shall be taken as the basis for all rights and obligations hereunder, ; but this shall not in any way affect the liability of any defaulting Underwriter to the other Underwriters for damage damages resulting from its default, nor shall any such default relieve any other Underwriter of any of its obligations hereunder or under the Underwriting Agreement except as herein or therein provided. In addition, in the event of default by one or more Underwriters in respect of their obligations under the Underwriting Agreement to purchase the Securities agreed to be purchased by them thereunder and, to the extent that arrangements shall not have been made by you for any person to assume the obligations of such defaulting Underwriter or Underwriters, we agree, if provided in the Underwriting Agreement, to assume our proportionate share, based upon our underwriting obligation, of the obligations of each such defaulting Underwriter (subject to the limitations contained in the Underwriting Agreement) without relieving such defaulting Underwriter of its liability therefor. In the event of default by one or more Underwriters in respect of their obligations under this Agreement to take up and pay for any shares of Securities purchased by you for their respective accounts pursuant to Section 9 hereof, or to deliver any such shares of Securities sold or over-allotted by you for their respective accounts pursuant to any provision of this Agreement, and to the extent that arrangements shall not have been made by you for other persons to assume the obligations of such defaulting Underwriter or Underwriters, each non-defaulting Underwriter shall assume its proportionate share of the aforesaid obligations of each such defaulting Underwriter without relieving any such defaulting Underwriter of its liability therefor.
Appears in 1 contract
DEFAULT BY UNDERWRITERS. Default by any Underwriter one or more Underwriters in respect of its their obligations hereunder or under the Underwriting Agreement shall not release us from any of our obligations or in any way affect the liability of such any defaulting Underwriter to the other Underwriters for damages resulting from such default. If In the event of such default by one or more Underwriters, you are authorized to increase, pro rata with the other non-defaulting Underwriters, the amount of Securities which we shall be obligated to purchase from the Company; provided, however, that the aggregate amount of all such increases for all non-defaulting Underwriters default under shall not exceed 10% of the Underwriting AgreementSecurities and, if provided in the Underwriting Agreement aggregate amount of the Securities not taken up by such defaulting Underwriters exceeds such 10%, you may (are further authorized, but shall not be obligated to) obligated, to arrange for the purchase by othersother persons, which who may include yourselves or you and other non-defaulting Underwriters, of all or a portion of the Securities no not taken up by the defaulting such Underwriters. In the event that any such increases or arrangements are made, the respective underwriting obligations of the non-defaulting Underwriters and the amounts of the Securities to be purchased by others, if any, the non-defaulting Underwriters and by any such other person or persons shall be taken as the basis for all rights and the Underwriters' obligations hereunderunder this Agreement, but this shall not in any way affect the liability of any defaulting Underwriter to the other Underwriters for damage damages resulting from its such default, nor shall any such default relieve any other Underwriter of any of its obligations hereunder or under the Underwriting Agreement except as herein or therein provided. In addition, in the event of default by one or more Underwriters in respect of their obligations under the Underwriting this Agreement to purchase the take up and pay for any Securities agreed to be purchased by them thereunder andyou for their respective accounts pursuant to Section 9 hereof, or to deliver any such Securities sold or over-allotted by you for their respective accounts pursuant to any provision of this Agreement, and to the extent that arrangements shall not have been made by you for any person other persons to assume the obligations of such defaulting Underwriter or Underwriters, we agree, if provided in the Underwriting Agreement, to each non-defaulting Underwriter shall assume our its proportionate share, based upon our underwriting obligation, share of the aforesaid obligations of each such defaulting Underwriter without relieving any such defaulting Underwriter of its liability therefor.
Appears in 1 contract
Samples: Rosedale Decorative Products LTD
DEFAULT BY UNDERWRITERS. Default by any Underwriter in respect of its obligations hereunder or under the Underwriting Purchase Agreement shall not release us from any of our obligations or in any way affect the liability of such defaulting Underwriter to the other Underwriters for damages resulting from such default. If one or more Underwriters default under the Underwriting Purchase Agreement, if provided in the Underwriting such Purchase Agreement you may (but shall not be obligated to) arrange for the purchase by others, which may include yourselves or other non-non- defaulting Underwriters, of all or a portion of the Securities no not taken up by the defaulting Underwriters. In the event that such arrangements are made, the respective underwriting obligations of the non-defaulting nondefaulting Underwriters and the amounts of the Securities to be purchased by others, if any, shall be taken as the basis for all rights and obligations hereunder, ; but this shall not in any way affect the liability of any defaulting Underwriter to the other Underwriters for damage damages resulting from its default, nor shall any such default relieve any other Underwriter of any of its obligations hereunder or under the Underwriting Purchase Agreement except as herein or therein provided. In addition, in the event of default by one or more Underwriters in respect of their obligations under the Underwriting Purchase Agreement to purchase the Securities agreed to be purchased by them thereunder and, to the extent that arrangements shall not have been made by you for any person to assume the obligations of such defaulting Underwriter or Underwriters, we agree, if provided in the Underwriting Purchase Agreement, to assume our proportionate share, based upon our underwriting obligation, of the obligations of each such defaulting Underwriter (subject to the limitations contained in the Purchase Agreement) without relieving such defaulting Underwriter of its liability therefor. In the event of default by one or more Underwriters in respect of their obligations under this Agreement to take up and pay for any securities purchased, or to deliver any securities sold or overalloted, by you for the respective accounts of the Underwriters, or to bear their proportion of expenses or liabilities pursuant to this Agreement, and to the extent that arrangements shall not have been made by you for any persons to assume the obligations of such defaulting Underwriter or Underwriters, we agree to assume our proportionate share, based upon our respective underwriting obligation, of the obligations of each defaulting Underwriter without relieving any such defaulting Underwriter of its liability therefor.
Appears in 1 contract
Samples: Master Agreement (Ciber Inc)
DEFAULT BY UNDERWRITERS. Default by any Underwriter one or more Underwriters in respect of its their obligations hereunder or under the Underwriting Agreement shall not release us from any of our obligations or in any way affect the liability obligations. In case of such defaulting Underwriter to the other Underwriters for damages resulting from such default. If default by one or more Underwriters, you are authorized to increase, pro rata with the other non-defaulting Underwriters, the number of Shares which we shall be obligated to purchase from the Company, provided that the aggregate amount of all such increases for all non-defaulting Underwriters default under shall not exceed 10% of the Underwriting AgreementShares, and, if provided in the Underwriting Agreement aggregate number of the Shares not taken up by such defaulting Underwriters exceeds such 10%, you may (are further authorized, but shall not be obligated to) obligated, to arrange for the purchase by othersother persons, which who may include yourselves or other non-defaulting Underwritersyourselves, of all or a portion of the Securities no Shares not taken up by the defaulting such Underwriters. In the event that any such increases or arrangements are made, the respective underwriting obligations number of Shares to be purchased by the non-defaulting Underwriters and the amounts of the Securities to be purchased by others, if any, any such other person or persons shall be taken as the basis for all rights and the underwriting obligations hereunderunder this Agreement, but this shall not in any way affect the liability of any defaulting Underwriter Underwriters to the other Underwriters for damage damages resulting from its such default, nor shall any such default relieve any other Underwriter of any of its obligations hereunder or under the Underwriting Agreement except as herein or therein provided. In addition, in the event of default by one or more Underwriters in respect of their obligations under the Underwriting this Agreement to purchase the Securities agreed to be take up and pay for any Shares purchased by them thereunder andyou for their respective accounts pursuant to Section 9 hereof, or to deliver any such Shares for their respective accounts pursuant to any provisions of this Agreement, and to the extent that arrangements shall not have been made by you for any person other persons to assume the obligations of such defaulting Underwriter or Underwriters, we agree, if provided in the Underwriting Agreement, to each non-defaulting Underwriter shall assume our its proportionate share, based upon our underwriting obligation, share of the aforesaid obligations of each such defaulting Underwriter without relieving any such defaulting Underwriter of its liability therefortherefore.
Appears in 1 contract
Samples: Ready Mix, Inc.
DEFAULT BY UNDERWRITERS. Default by any Underwriter in respect of its obligations hereunder or under the Underwriting Agreement shall not release us from any of our obligations or in any way affect the liability of such defaulting Underwriter to the other Underwriters for damages resulting from such default. If In the event of such default by one or more Underwriters, you are authorized to increase, pro rata with the other non-defaulting Underwriters, the amount of Securities which we shall be obligated to purchase from the Company; provided, however, that the aggregate amount of all such increases for all non-defaulting Underwriters default under shall not exceed 10% of the Underwriting AgreementSecurities and, if provided in the Underwriting Agreement aggregate amount of the Securities not taken up by such defaulting Underwriters exceeds such 10%, you may (are further authorized, but shall not be obligated to) to arrange for the purchase by othersother persons, which who may include yourselves or you and other non-defaulting Underwriters, of all or a portion of the Securities no not taken up by the defaulting such Underwriters. In the event that any such increases or arrangements are made, the respective underwriting obligations of the non-defaulting Underwriters and the amounts of the Securities to be purchased by others, if any, the non-defaulting Underwriters and by any such other person or persons shall be taken as the basis for all rights and the Underwriters' obligations hereunderunder this Agreement, but this shall not in any way affect the liability of any defaulting Underwriter to the other Underwriters for damage damages resulting from its such default, nor shall any such default relieve any other Underwriter of any of its obligations hereunder or under the Underwriting Agreement except as herein or therein provided. In addition, in the event of default by one or more Underwriters in respect of their obligations under the Underwriting this Agreement to purchase take up and pay for any Securities purchased, or to deliver any such Securities sold or over-allotted by you for the Securities agreed respective accounts of the Underwriters or to be purchased by them thereunder andbear their proportion of expenses or liability pursuant to the Agreement, and to the extent that arrangements shall not have been made by you for any person other persons to assume the obligations of such defaulting Underwriter or Underwriters, we agree, if provided in the Underwriting Agreement, each non-defaulting Underwriter agrees to assume our proportionate share, based upon our underwriting obligation, share of the aforesaid obligations of each such defaulting Underwriter without relieving any such defaulting Underwriter of its liability therefor.
Appears in 1 contract
Samples: Grand Court Lifestyles Inc
DEFAULT BY UNDERWRITERS. Default by any Underwriter in respect of its obligations hereunder or under the Underwriting Purchase Agreement shall not release us from any of our obligations or in any way affect the liability of such defaulting Underwriter to the other Underwriters for damages resulting from such default. If one or more Underwriters default under the Underwriting Purchase Agreement, if provided in the Underwriting such Purchase Agreement you may (but shall not be obligated to) arrange for the purchase by others, which may include yourselves or other non-defaulting Underwriters, of all or a portion of the Securities no not taken up by the defaulting Underwriters. In the event that such arrangements are made, the respective underwriting obligations of the non-defaulting Underwriters and the amounts of the Securities to be purchased by others, if any, shall be taken as the basis for all rights and obligations hereunder, ; but this shall not in any way affect the liability of any defaulting Underwriter to the other Underwriters for damage damages resulting from its default, nor shall any such default relieve any other Underwriter of any of its obligations hereunder or under the Underwriting Purchase Agreement except as herein or therein provided. In addition, in the event of default by one or more Underwriters in respect of their obligations under the Underwriting Purchase Agreement to purchase the Securities agreed to be purchased by them thereunder and, to the extent that arrangements shall not have been made by you for any person to assume the obligations of such defaulting Underwriter or Underwriters, we agree, if provided in the Underwriting Purchase Agreement, to assume our proportionate share, based upon our underwriting obligation, of the obligations of each such defaulting Underwriter (subject to the limitations contained in the Purchase Agreement) without relieving such defaulting Underwriter of its liability therefor. In the event of default by one or more Underwriters in respect of their obligations under this Agreement to take up and pay for any securities purchased, or to deliver any securities sold or over-alloted, by you for the respective amounts of the Underwriters, or to bear their proportion of expenses or liabilities pursuant to this Agreement, and to the extent that arrangements shall not have been made by you for any persons to assume the obligations of such defaulting Underwriter or Underwriters, we agree to assume our proportionate share, based upon our respective underwriting obligation, of the obligations of each defaulting Underwriter without relieving any such defaulting Underwriter of its liability therefor.
Appears in 1 contract
Samples: Master Agreement (Pimco Corporate Opportunity Fund)
