Common use of Default Exceeding 10% of Firm Shares or Option Shares Clause in Contracts

Default Exceeding 10% of Firm Shares or Option Shares. In the event that the default addressed in Section 6.1 hereof relates to more than 10% of the Public Securities that all Underwriters have agreed to purchase hereunder on the Closing Date or any Option Closing Date, as the case may be, the Representative may, in its discretion, arrange for itself or any other party or parties to purchase the Public Securities to which such default relates on the terms contained herein. If, within one Business Day after such default, the Representative does not arrange for the purchase of the Public Securities to which such default relates on the terms contained herein, then the Company shall be entitled to a further period of one Business Day within which to procure another party or parties satisfactory to the Representative to purchase the Public Securities to which such default relates on the terms contained herein. In the event that neither the Representative nor the Company arrange for the purchase of the Public Securities to which such default relates on the terms contained herein pursuant to this Section 6.2, this Agreement will automatically be terminated by the Representative or the Company without liability on the part of the Company (except as provided in Section 3.8 and Section 5 hereof) or the several Underwriters (except as provided in Section 5 hereof); provided, however, that if such default occurs with respect to any Option Shares, this Agreement will not terminate as to the Firm Shares; provided, further, however, that nothing herein shall relieve a defaulting Underwriter of its liability, if any, to the other Underwriters and to the Company for damages occasioned by its default hereunder.

Default Exceeding 10% of Firm Shares or Option Shares. In the event that the default addressed in Section 6.1 hereof relates to more than 10% of the Public Securities that all Underwriters have agreed to purchase hereunder on Firm Shares or Option Shares and is a default by an Underwriter other than the Closing Date or any Option Closing Date, Representative (acting in its capacity as the case may bean Underwriter), the Representative may, may in its discretion, discretion arrange for itself or any other for another party or parties to purchase the Public Securities such Firm Shares or Option Shares to which such default relates on the terms contained herein. If, within one (1) Business Day after such defaultdefault relating to more than 10% of the Firm Shares or Option Shares, the Representative does not arrange for the purchase of the Public Securities to which such default relates on the terms contained hereinFirm Shares or Option Shares, then the Company shall be entitled to a further period of one (1) Business Day within which to procure another party or parties satisfactory to the Representative to purchase the Public Securities to which said Firm Shares or Option Shares on such default relates on the terms contained hereinterms. In the event that neither the Representative nor the Company arrange for the purchase of the Public Securities Firm Shares or Option Shares to which such a default relates on the terms contained herein pursuant to as provided in this Section 6.26, this Agreement will automatically be terminated by the Representative or the Company without liability on the part of the Company (except as provided in Section 3.8 Sections 3.10 and Section 5 hereof) or the several Underwriters (except as provided in Section 5 hereof); provided, however, that if such default occurs with respect to any the Option Shares, this Agreement will not terminate as to the Firm Shares; and provided, further, however, that nothing herein shall relieve a defaulting Underwriter of its liability, if any, to the other Underwriters and to the Company for damages occasioned by its default hereunder. For the avoidance of doubt, nothing contained in this Section shall excuse a default by the Representative (in its capacity as an Underwriter) in its obligations to purchase the Firm Shares or the Option Shares, if the Over-allotment Option is exercised hereunder.

Default Exceeding 10% of Firm Shares or Option Shares. In the event that the default addressed in Section 6.1 hereof relates to more than 10% of the Public Securities that all Underwriters have agreed to purchase hereunder on Firm Shares or the Closing Date or any Option Closing DateShares, as if the case may beOver-Allotment Option is exercised hereunder, the Representative may, may in its discretion, discretion arrange for itself or any other for another party or parties to purchase such Firm Shares or the Public Securities Option Shares to which such default relates on the terms contained herein. If, within one (1) Business Day after such defaultdefault relating to more than 10% of the Firm Shares or the Option Shares, the Representative does not arrange for the purchase of such Firm Shares or the Public Securities to which such default relates on the terms contained hereinOption Shares, then the Company shall be entitled to a further period of one (1) Business Day within which to procure another party or parties satisfactory to the Representative to purchase said Firm Shares or the Public Securities to which Option Shares on such default relates on the terms contained hereinterms. In the event that neither the Representative nor the Company arrange for the purchase of the Public Securities Firm Shares or the Option Shares to which such a default relates on the terms contained herein pursuant to as provided in this Section 6.26, this Agreement will automatically be terminated by the Representative or the Company without liability on the part of the Company (except as provided in Section 3.8 and Section 5 Sections 3.10 hereof) ), or the several Underwriters (except as provided in Section 5 hereof)Underwriters; provided, however, that if such default occurs with respect to any Option Sharesto, this Agreement will not terminate as to the Firm Shares or the Option Shares; and provided, further, however, that nothing herein shall relieve a defaulting Underwriter of its liability, if any, to the other Underwriters and to the Company for damages occasioned by its default hereunder. For the avoidance of doubt, nothing contained in this Section shall excuse a default by the Representative (in its capacity as an Underwriter) in its obligations to purchase the Firm Shares or the Option Shares, if the Over-Allotment Option is exercised hereunder.

Default Exceeding 10% of Firm Shares or Option Shares. In the event that the default addressed in Section 6.1 hereof 8.1 relates to more than 10% of the Public Securities that all Underwriters have agreed to purchase hereunder on the Closing Date Firm Shares or any Option Closing Date, as the case may beShares, the Representative may, may in its discretion, discretion arrange for itself or any other for another party or parties to purchase the Public Securities such Firm Shares or Option Shares to which such default relates on the terms contained herein. If, within one (1) Business Day after such defaultdefault relating to more than 10% of the Firm Shares or Option Shares, the Representative does not arrange for the purchase of the Public Securities to which such default relates on the terms contained hereinFirm Shares or Option Shares, then the Company and the Selling Shareholder (in the Selling Shareholder’s case, with respect to the Firm Shares only) shall be entitled to a further period of one (1) Business Day within which to procure another party or parties satisfactory to the Representative to purchase the Public Securities to which said Firm Shares or Option Shares on such default relates on the terms contained hereinterms. In the event that neither the Representative nor the Company arrange for the purchase of the Public Securities Firm Shares or Option Shares to which such a default relates on the terms contained herein pursuant to as provided in this Section 6.28, this Agreement will automatically be terminated by the Representative or the Company without liability on the part of the Company (except as provided in Section 3.8 Sections 4.10 and Section 5 7 hereof) or the several Underwriters (except as provided in Section 5 7 hereof); provided, however, that if such default occurs with respect to any the Option Shares, this Agreement will not terminate as to the Firm Shares; and provided, further, however, that nothing herein shall relieve a defaulting Underwriter of its liability, if any, to the other Underwriters and to the Company for damages occasioned by its default hereunder. For the avoidance of doubt, nothing contained in this Section 8.2 shall excuse a default by the Representative (in its capacity as an Underwriter) in its obligations to purchase the Firm Shares or the Option Shares, if the Over-allotment Option is exercised hereunder.

Default Exceeding 10% of Firm Shares or Option Shares. In the event that the default addressed in Section 6.1 hereof relates to more than 10% of the Public Securities that all Underwriters have agreed to purchase hereunder on the Closing Date Firm Shares or any Option Closing Date, as the case may beShares, the Representative may, non-defaulting Underwriters may in its discretion, their discretion arrange for itself themselves or any other for another party or parties to purchase the Public Securities such Firm Shares or Option Shares to which such default relates on the terms contained herein. If, within one (1) Business Day after such defaultdefault relating to more than 10% of the Firm Shares or Option Shares, the Representative does non-defaulting Underwriters do not arrange for the purchase of the Public Securities to which such default relates on the terms contained hereinFirm Shares or Option Shares, then the Company shall be entitled to a further period of one (1) Business Day within which to procure another party or parties satisfactory to the Representative non-defaulting Underwriters to purchase the Public Securities to which said Firm Shares or Option Shares on such default relates on the terms contained hereinterms. In the event that neither the Representative non-defaulting Underwriters nor the Company arrange for the purchase of the Public Securities Firm Shares or Option Shares to which such a default relates on the terms contained herein pursuant to as provided in this Section 6.26, this Agreement will automatically be terminated by the Representative non-defaulting Underwriters or the Company without liability on the part of the Company (except as provided in Section 3.8 Sections 3.10 and Section 5 hereof) or the several Underwriters (except as provided in Section 5 hereof); provided, however, that if such default occurs with respect to any the Option Shares, this Agreement will not terminate as to the Firm Shares; and provided, further, however, that nothing herein shall relieve a defaulting Underwriter of its liability, if any, to the other Underwriters and to the Company for damages occasioned by its default hereunder.

Default Exceeding 10% of Firm Shares or Option Shares. In the event that the default addressed in Section 6.1 hereof relates to more than ten percent (10% %) of the Public Securities that all Underwriters have agreed to purchase hereunder on the Closing Date Firm Shares or any Option Closing Date, as the case may beShares, the Representative, or if the Representative mayis the defaulting Underwriter, the non-defaulting Underwriters, shall may in its discretion, their discretion arrange for itself themselves or any other for another party or parties to purchase the Public Securities such Firm Shares or Option Shares to which such default relates on the terms contained herein. If, within one (1) Business Day after such defaultdefault relating to more than ten percent (10%) of the Firm Shares or Option Shares, the Representative does or the non-defaulting Underwriters (as relevant) have not arrange arranged for the purchase of the Public Securities to which such default relates on the terms contained hereinFirm Shares or Option Shares, then the Company shall be entitled to a further period of one (1) Business Day within which to procure another party or parties satisfactory to the Representative to purchase the Public Securities to which said Firm Shares or Option Shares on such default relates on the terms contained hereinterms. In the event that neither the Representative you nor the Company arrange for the purchase of the Public Securities Firm Shares or Option Shares to which such a default relates on the terms contained herein pursuant to as provided in this Section 6.26, this Agreement will automatically be terminated by the Representative or the Company without liability on the part of the Company (except as provided in Section 3.8 Sections 3.9 and Section 5 hereof) or the several Underwriters (except as provided in Section 5 hereof); provided, however, that if such default occurs with respect to any the Option Shares, this Agreement will not terminate as to the Firm Shares; and provided, further, however, that nothing herein shall relieve a defaulting Underwriter of its liability, if any, to the other Underwriters and to the Company for damages occasioned by its default hereunder. Any termination of this Agreement pursuant to this Section 6.2 shall be without liability on the part of any non-defaulting Underwriters or the Company.

Default Exceeding 10% of Firm Shares or Option Shares. In the event that the default addressed in Section 6.1 hereof 8.1 relates to more than 10% of the Public Securities that all Underwriters have agreed to purchase hereunder on the Closing Date Firm Shares or any Option Closing Date, as the case may beShares, the Representative may, may in its discretion, discretion arrange for itself or any other for another party or parties to purchase the Public Securities such Firm Shares or Option Shares to which such default relates on the terms contained herein. If, within one (1) Business Day after such defaultdefault relating to more than 10% of the Firm Shares or Option Shares, the Representative does not arrange for the purchase of the Public Securities to which such default relates on the terms contained hereinFirm Shares or Option Shares, then the Company Selling Stockholder shall be entitled to a further period of one (1) Business Day within which to procure another party or parties satisfactory to the Representative to purchase the Public Securities to which said Firm Shares or Option Shares on such default relates on the terms contained hereinterms. In the event that neither the Representative nor the Company Selling Stockholder arrange for the purchase of the Public Securities Firm Shares or Option Shares to which such a default relates on the terms contained herein pursuant to as provided in this Section 6.28, this Agreement will automatically be terminated by the Representative or the Company Selling Stockholder without liability on the part of the Company Selling Stockholder (except as provided in Section 3.8 Sections 4.6 and Section 5 7 hereof) or the several Underwriters (except as provided in Section 5 7 hereof); provided, however, that if such default occurs with respect to any the Option Shares, this Agreement will not terminate as to the Firm Shares; and provided, further, however, that nothing herein shall relieve a defaulting Underwriter of its liability, if any, to the other Underwriters and to the Company Selling Stockholder for damages occasioned by its default hereunder. For the avoidance of doubt, nothing contained in this Section 8.2 shall excuse a default by the Representative (in its capacity as an Underwriter) in its obligations to purchase the Firm Shares or the Option Shares, if the Over-allotment Option is exercised hereunder.

Default Exceeding 10% of Firm Shares or Option Shares. In the event that the default addressed in Section 6.1 hereof 6.1.1 relates to more than 10% of the Public Securities that all Underwriters have agreed to purchase hereunder on the Closing Date Firm Shares or any Option Closing Date, as the case may beShares, the Representative may, Co-Underwriters may in its discretion, their discretion arrange for itself themselves or any other for another party or parties to purchase the Public Securities such Firm Shares or Option Shares to which such default relates on the terms contained herein. If, within one (1) Business Day after such defaultdefault relating to more than 10% of the Firm Shares or Option Shares, the Representative does Co-Underwriters do not arrange for the purchase of the Public Securities to which such default relates on the terms contained hereinFirm Shares or Option Shares, then the Company shall be entitled to a further period of one (1) Business Day within which to procure another party or parties reasonably satisfactory to the Representative Co-Underwriters to purchase the Public Securities to which said Firm Shares or Option Shares on such default relates on the terms contained hereinterms. In the event that neither the Representative Co-Underwriters nor the Company arrange for the purchase of the Public Securities Firm Shares or Option Shares to which such a default relates on the terms contained herein pursuant to as provided in this Section 6.26, this Agreement will automatically be terminated by the Representative Co-Underwriters or the Company without liability on the part of the Company (except as provided in Section 3.8 3.10.1 and Section 5 hereof) or the several Underwriters (except as provided in Section 5 hereof); provided, however, that if such default occurs with respect to any the Option Shares, this Agreement will not terminate as to the Firm Shares; and provided, further, however, that nothing herein shall relieve a defaulting Underwriter of its liability, if any, to the other Underwriters and to the Company for damages occasioned by its default hereunder.