Common use of Default of Underwriters Clause in Contracts

Default of Underwriters. If any Underwriter defaults in its obligations to purchase Notes hereunder and the aggregate principal amount of the Notes that such defaulting Underwriter agreed but failed to purchase does not exceed 10% of the total principal amount of Notes, the Representative may make arrangements satisfactory to the Bank for the purchase of such Notes by other persons, including the non-defaulting Underwriters, but if no such arrangements are made by the Closing Date, the non-defaulting Underwriters shall be obligated severally, in proportion to their respective commitments hereunder, to purchase the Notes that such defaulting Underwriter agreed but failed to purchase. If any Underwriter so defaults and the aggregate principal amount of the Notes with respect to which such default or defaults occur exceeds 10% of the total principal amount of the Notes and arrangements satisfactory to the Representative and the Bank for the purchase of such Notes by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Underwriter or the Bank, except as provided in Section 11. Nothing herein will relieve a defaulting Underwriter from liability for its default.

Default of Underwriters. If any Underwriter defaults in its obligations to purchase Notes Certificates hereunder and the aggregate principal amount of the Notes Certificates that such defaulting Underwriter or Underwriters agreed but failed to purchase does not exceed 10% of the total principal amount of NotesCertificates to be purchased hereunder, the Representative Credit Suisse Securities (USA) LLC may make arrangements satisfactory to the Bank Depositor for the purchase of such Notes Certificates by other persons, including the non-defaulting Underwriters, but if no such arrangements are made by the such Closing Date, the non-defaulting Underwriters shall be obligated severally, in proportion to their respective commitments hereunder, to purchase the Notes Certificates that such defaulting Underwriter agreed but failed to purchasepurchase hereunder. If any Underwriter so defaults and the aggregate principal amount of the Notes Certificates with respect to which such default or defaults occur occurs exceeds 10% of the total principal amount of the Notes Certificates to be purchased hereunder and arrangements satisfactory to the Representative Credit Suisse Securities (USA) LLC and the Bank Depositor for the purchase of such Notes Certificates by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Underwriter or the BankDepositor, except as provided in Section 1110. As used in this Agreement, the term "Underwriter" includes any person substituted for an Underwriter under this Section. Nothing herein will relieve a defaulting Underwriter from liability for its default.

Default of Underwriters. If any Underwriter defaults in its obligations to purchase Notes Offered Certificates hereunder and the aggregate principal amount of the Notes Offered Certificates that such defaulting Underwriter agreed but failed to purchase does not exceed 10% of the total principal amount of Notesthe Offered Certificates, the Representative Citigroup may make arrangements satisfactory to the Bank Company for the purchase of such Notes Offered Certificates by other persons, including the non-defaulting UnderwritersUnderwriter, but if no such arrangements are made by the Closing Date, the non-defaulting Underwriters Underwriter shall be obligated severally, in proportion to their respective commitments hereunder, to purchase the Notes Offered Certificates that such defaulting Underwriter agreed but failed to purchase. If any Underwriter so defaults and the aggregate principal amount of the Notes Offered Certificates with respect to which such default or defaults occur occurs exceeds 10% of the total principal amount of the Notes Offered Certificates and arrangements satisfactory to the Representative Citigroup and the Bank Company for the purchase of such Notes Offered Certificates by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any the non-defaulting Underwriter Underwriter, Embraer or the BankCompany, except as provided in Section 115. As used in this Agreement, the term "Underwriter" includes any person substituted for an Underwriter under this Section. Nothing herein will relieve a defaulting Underwriter from liability for its default.

Default of Underwriters. If any Underwriter defaults in its obligations to purchase the Offered Notes hereunder and the aggregate principal amount of the Offered Notes that such defaulting Underwriter agreed but failed to purchase does not exceed 10% of the total principal amount of Offered Notes, the Representative may make arrangements satisfactory to the Bank for the purchase of such Offered Notes by other persons, including the non-defaulting Underwriters, but if no such arrangements are made by the Closing Date, the non-defaulting Underwriters shall be obligated severally, in proportion to their respective commitments hereunder, to purchase the Offered Notes that such defaulting Underwriter agreed but failed to purchase. If any Underwriter so defaults and the aggregate principal amount of the Offered Notes with respect to which such default or defaults occur exceeds 10% of the total principal amount of the Offered Notes and arrangements satisfactory to the Representative and the Bank for the purchase of such Offered Notes by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Underwriter or the Bank, except as provided in Section 11. Nothing herein will relieve a defaulting Underwriter from liability for its default.

Default of Underwriters. If any Underwriter defaults in its obligations to purchase Notes Certificates hereunder and the aggregate principal amount of the Notes Certificates that such defaulting Underwriter agreed but failed to purchase does not exceed 10% of the total principal amount of Notessuch Certificates, the Representative may make arrangements satisfactory to the Bank for the purchase of such Notes Certificates by other persons, including the non-defaulting Underwriters, but if no such arrangements are made by the Closing Date, the non-defaulting Underwriters shall be obligated severally, in proportion to their respective commitments hereunder, to purchase the Notes Certificates that such defaulting Underwriter agreed but failed to purchase. If any Underwriter so defaults and the aggregate principal amount of the Notes Certificates with respect to which such default or defaults occur exceeds 10% of the total principal amount of the Notes such Certificates and arrangements satisfactory to the Representative and the Bank for the purchase of such Notes Certificates by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Underwriter or the Bank, except as provided in Section 11. Nothing herein will relieve a defaulting Underwriter from liability for its default.

Default of Underwriters. If any Underwriter defaults in its obligations to purchase Notes Certificates hereunder and the aggregate principal amount of the Notes Certificates that such defaulting Underwriter or Underwriters agreed but failed to purchase does not exceed 10% of the total principal amount of NotesCertificates to be purchased hereunder, the Representative non-defaulting Underwriters may make arrangements satisfactory to the Bank Depositor for the purchase of such Notes Certificates by other persons, including the non-defaulting Underwriters, but if no such arrangements are made by the Closing Specified Delivery Date, the non-defaulting Underwriters Representative shall be obligated severally, in proportion to their respective commitments hereunder, to purchase the Notes Certificates that such defaulting Underwriter agreed but failed to purchasepurchase hereunder. If any Underwriter so defaults and the aggregate principal amount of the Notes Certificates with respect to which such default or defaults occur occurs exceeds 10% of the total principal amount of the Notes Certificates to be purchased hereunder and arrangements satisfactory to the Representative and the Bank Depositor for the purchase of such Notes Certificates by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Underwriter or the BankDepositor, except as provided in Section 115(f) and Section 7. As used in this Agreement, the term "Underwriter" includes any person substituted for a Underwriter under this Section. Nothing herein will relieve a defaulting Underwriter from liability for its default.

Default of Underwriters. If any Underwriter defaults in its obligations to purchase Offered Notes hereunder and the aggregate principal amount of the Offered Notes that such defaulting Underwriter agreed but failed to purchase does not exceed 10% of the total principal amount of Offered Notes, the Representative may make arrangements satisfactory to the Bank for the purchase of such Offered Notes by other persons, including the non-defaulting Underwriters, but if no such arrangements are made by the Closing Date, the non-defaulting Underwriters shall be obligated severally, in proportion to their respective commitments hereunder, to purchase the Offered Notes that such defaulting Underwriter agreed but failed to purchase. If any Underwriter so defaults and the aggregate principal amount of the Offered Notes with respect to which such default or defaults occur exceeds 10% of the total principal amount of the Offered Notes and arrangements satisfactory to the Representative and the Bank for the purchase of such Offered Notes by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Underwriter or the Bank, except as provided in Section 11. Nothing herein will relieve a defaulting Underwriter from liability for its default.

Default of Underwriters. If any Underwriter defaults in its obligations to purchase Notes Certificates hereunder and the aggregate principal amount of the Notes Certificates that such defaulting Underwriter or Underwriters agreed but failed to purchase does not exceed 10% of the total principal amount of NotesCertificates to be purchased hereunder, the Representative Credit Suisse First Boston LLC may make arrangements satisfactory to the Bank Depositor for the purchase of such Notes Certificates by other persons, including the non-defaulting Underwriters, but if no such arrangements are made by the such Closing Date, the non-defaulting Underwriters shall be obligated severally, in proportion to their respective commitments hereunder, to purchase the Notes Certificates that such defaulting Underwriter agreed but failed to purchasepurchase hereunder. If any Underwriter so defaults and the aggregate principal amount of the Notes Certificates with respect to which such default or defaults occur occurs exceeds 10% of the total principal amount of the Notes Certificates to be purchased hereunder and arrangements satisfactory to the Representative Credit Suisse First Boston LLC ("CSFB LLC") and the Bank Depositor for the purchase of such Notes Certificates by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Underwriter or the BankDepositor, except as provided in Section 1110. As used in this Agreement, the term "Underwriter" includes any person substituted for an Underwriter under this Section. Nothing herein will relieve a defaulting Underwriter from liability for its default.

Default of Underwriters. If any Underwriter defaults in its obligations to purchase the Offered Notes hereunder and the aggregate principal amount of the Offered Notes that such defaulting Underwriter agreed but failed to purchase does not exceed 10% of the total principal amount of Offered Notes, the Representative may make arrangements satisfactory to the Bank Depositor for the purchase of such Offered Notes by other persons, including the non-defaulting Underwriters, but if no such arrangements are made by the Closing Date, the non-non- defaulting Underwriters shall be obligated severally, in proportion to their respective commitments hereunder, to purchase the Offered Notes that such defaulting Underwriter agreed but failed to purchase. If any Underwriter so defaults and the aggregate principal amount of the Offered Notes with respect to which such default or defaults occur exceeds 10% of the total principal amount of the Offered Notes and arrangements satisfactory to the Representative and the Bank Depositor for the purchase of such Offered Notes by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Underwriter or the BankDepositor, except as provided in Section 11. Nothing herein will relieve a defaulting Underwriter from liability for its default.

Default of Underwriters. If any Underwriter defaults in its obligations to purchase Notes Certificates hereunder and the aggregate principal amount of the Notes Certificates that such defaulting Underwriter or Underwriters agreed but failed to purchase does not exceed 10% of the total principal amount of NotesCertificates to be purchased hereunder, the Representative non-defaulting Underwriters may make arrangements satisfactory to the Bank Depositor for the purchase of such Notes Certificates by other persons, including the non-defaulting Underwriters, but if no such arrangements are made by the Closing Specified Delivery Date, the non-defaulting Underwriters Representative shall be obligated severally, in proportion to their respective commitments hereunder, to purchase the Notes Certificates that such defaulting Underwriter agreed but failed to purchasepurchase hereunder. If any Underwriter so defaults and the aggregate principal amount of the Notes Certificates with respect to which such default or defaults occur occurs exceeds 10% of the total principal amount of the Notes Certificates to be purchased hereunder and arrangements satisfactory to the Representative and the Bank Depositor for the purchase of such Notes Certificates by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Underwriter or the BankDepositor, except as provided in Section 11SECTION 5(f) and SECTION 7. As used in this Agreement, the term "UNDERWRITER" includes any person substituted for a Underwriter under this Section. Nothing herein will relieve a defaulting Underwriter from liability for its default.

Default of Underwriters. If any Underwriter defaults in its obligations obligation to purchase Notes Offered Securities hereunder and the aggregate principal amount of the Notes Offered Securities that such defaulting Underwriter agreed but failed to purchase does not exceed 10% of the total principal amount of NotesOffered Securities, the Representative non-defaulting Underwriter may make arrangements satisfactory to the Bank Partnership for the purchase of such Notes Offered Securities by other persons, including the non-defaulting Underwritersitself, but if no such arrangements are made by the Closing Date, the non-defaulting Underwriters Underwriter shall be obligated severally, in proportion to their respective commitments hereunder, to purchase the Notes Offered Securities that such defaulting Underwriter agreed but failed to purchase. If any Underwriter so defaults and the aggregate principal amount of the Notes Offered Securities with respect to which such default or defaults occur exceeds 10% of the total principal amount of the Notes Offered Securities and arrangements satisfactory to the Representative non-defaulting Underwriter and the Bank Partnership for the purchase of such Notes Offered Securities by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Underwriter or the BankPartnership, except as provided in Section 1110. As used in this Agreement, the term “Underwriter” includes any person substituted for a Underwriter under this Section. Nothing herein will relieve a defaulting Underwriter from liability for its default.

Default of Underwriters. If any Underwriter defaults in its obligations to purchase Notes Certificates hereunder and the aggregate principal amount of the Notes Certificates that such defaulting Underwriter or Underwriters agreed but failed to purchase does not exceed 10% of the total principal amount of NotesCertificates to be purchased hereunder, the Representative Credit Suisse Securities (USA) LLC and [____________] may make arrangements satisfactory to the Bank Company for the purchase of such Notes Certificates by other persons, including the non-defaulting Underwriters, but if no such arrangements are made by the such Closing Date, the non-defaulting Underwriters shall be obligated severally, in proportion to their respective commitments hereunder, to purchase the Notes Certificates that such defaulting Underwriter agreed but failed to purchasepurchase hereunder. If any Underwriter so defaults and the aggregate principal amount of the Notes Certificates with respect to which such default or defaults occur occurs exceeds 10% of the total principal amount of the Notes Certificates to be purchased hereunder and arrangements satisfactory to the Representative Credit Suisse Securities (USA) LLC, [___________] and the Bank Company for the purchase of such Notes Certificates by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Underwriter or the BankCompany, except as provided in Section 1110. As used in this Agreement, the term “Underwriter” includes any person substituted for an Underwriter under this Section. Nothing herein will relieve a defaulting Underwriter from liability for its default.

Default of Underwriters. If any Underwriter defaults or Underwriters default in its their obligations to purchase the Notes hereunder and the aggregate principal amount of the such Notes that which such defaulting Underwriter agreed or Underwriters agreed, but failed failed, to purchase does not exceed 10% of the total principal amount of the Notes, the Representative may make arrangements satisfactory to the Bank Company for the purchase of such Notes by other persons, including any of the non-defaulting UnderwritersUnderwriters participating in such offering, but if no regardless of whether such arrangements are made by the Closing Date, the non-defaulting Underwriters shall be remain obligated severally, in proportion to their respective commitments hereunder, severally to purchase the Notes that such defaulting Underwriter agreed but failed which they committed to purchasepurchase in accordance with the terms hereunder. If any Underwriter or Underwriters so defaults default and the aggregate principal amount of the Notes with respect to which such default or defaults occur exceeds is more than 10% of the total principal amount of the Notes and arrangements satisfactory to the Representative and the Bank Company for the purchase of such Notes by other persons are not made within 36 hours after such defaultmade, this Agreement will terminate without liability on the part of any non-defaulting Underwriter or the Banknondefaulting Underwriter, except as provided in Section 1110. As used in this Agreement, the term "Underwriter" includes any person substituted for an Underwriter under this Section. Nothing herein will relieve a defaulting Underwriter from liability for its default.

Default of Underwriters. If any Underwriter participating in the offering of Notes defaults in its obligations obligation to purchase Notes hereunder and the aggregate principal amount of the such Notes that which such defaulting Underwriter agreed agreed, but failed failed, to purchase does not exceed 10% of the total principal amount of the Underwriter Notes, the Representative you may make arrangements satisfactory to the Bank Seller for the purchase of such Notes by other persons, including the non-defaulting Underwriters, but if no such arrangements are made by within a period of 36 hours after the Closing Date, the non-defaulting Underwriters Underwriter shall be obligated severallyobligated, in proportion to their its respective commitments total commitment hereunder, to purchase the Notes that which such defaulting Underwriter agreed but failed to purchase. If any Underwriter so defaults and the aggregate principal amount of the Notes with respect to which such default or defaults occur exceeds occurs is more than 10% of the total principal amount of the Underwriter Notes and arrangements satisfactory to the Representative you and the Bank Seller for the purchase of such Notes by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any the non-defaulting Underwriter or the BankSeller, except as provided in Section 119. As used in this Agreement, the term "Underwriter" includes any person substituted for any Underwriter under this Section. Nothing herein will relieve a defaulting Underwriter from liability for its default.

Default of Underwriters. If any Underwriter defaults in its obligations to purchase Notes the Certificates hereunder and the aggregate principal amount of the Notes Certificates that such defaulting Underwriter agreed but failed to purchase does not exceed 10% of the total principal amount of NotesCertificates, the Representative may make arrangements satisfactory to the Bank Depositor for the purchase of such Notes Certificates by other persons, including the non-defaulting Underwriters, but if no such arrangements are made by the Closing Date, the non-defaulting Underwriters shall be obligated severally, in proportion to their respective commitments hereunder, to purchase the Notes Certificates that such defaulting Underwriter agreed but failed to purchase. If any Underwriter so defaults and the aggregate principal amount of the Notes Certificates with respect to which such default or defaults occur exceeds 10% of the total principal amount of the Notes Certificates and arrangements satisfactory to the Representative and the Bank Depositor for the purchase of such Notes Certificates by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Underwriter or the BankDepositor, except as provided in Section 11. Nothing herein will relieve a defaulting Underwriter from liability for its default.

Default of Underwriters. If any Underwriter defaults in its obligations to purchase the Offered Notes hereunder and the aggregate principal amount of the Offered Notes that such defaulting Underwriter agreed but failed to purchase does not exceed 10% of the total principal amount of Offered Notes, the Representative may make arrangements satisfactory to the Bank Depositor for the purchase of such Offered Notes by other persons, including the non-defaulting Underwriters, but if no such arrangements are made by the Closing Date, the non-defaulting Underwriters shall be obligated severally, in proportion to their respective commitments hereunder, to purchase the Offered Notes that such defaulting Underwriter agreed but failed to purchase. If any Underwriter so defaults and the aggregate principal amount of the Offered Notes with respect to which such default or defaults occur exceeds 10% of the total principal amount of the Offered Notes and arrangements satisfactory to the Representative and the Bank Depositor for the purchase of such Offered Notes by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Underwriter or the BankDepositor, except as provided in Section 11. Nothing herein will relieve a defaulting Underwriter from liability for its default.

Default of Underwriters. If any Underwriter defaults in its obligations to purchase Notes hereunder and the aggregate principal amount of the Notes that such defaulting Underwriter agreed but failed to purchase does not exceed 10% of the total principal amount of Notes, the Representative may make arrangements satisfactory to the Bank Banks for the purchase of such Notes by other persons, including the non-defaulting Underwriters, but if no such arrangements are made by the Closing Date, the non-defaulting Underwriters shall be obligated severally, in proportion to their respective commitments hereunder, to purchase the Notes that such defaulting Underwriter agreed but failed to purchase. If any Underwriter so defaults and the aggregate principal amount of the Notes with respect to which such default or defaults occur exceeds 10% of the total principal amount of the Notes and arrangements satisfactory to the Representative and the Bank Banks for the purchase of such Notes by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Underwriter or the BankBanks, except as provided in Section 11. Nothing herein will relieve a defaulting Underwriter from liability for its default.

Default of Underwriters. If any Underwriter defaults in its obligations to purchase Notes Certificates hereunder and the aggregate principal amount of the Notes Certificates that such defaulting Underwriter or Underwriters agreed but failed to purchase does not exceed 10% of the total principal amount of NotesCertificates to be purchased hereunder, the Representative non-defaulting Underwriters may make arrangements satisfactory to the Bank Depositor for the purchase of such Notes Certificates by other persons, including the non-defaulting Underwriters, but if no such arrangements are made by the Closing Specified Delivery Date, the non-defaulting Underwriters Representative shall be obligated severally, in proportion to their respective commitments hereunder, to purchase the Notes Certificates that such defaulting Underwriter agreed but failed to purchasepurchase hereunder. If any Underwriter so defaults and the aggregate principal amount of the Notes Certificates with respect to which such default or defaults occur occurs exceeds 10% of the total principal amount of the Notes Certificates to be purchased hereunder and arrangements satisfactory to the Representative and the Bank Depositor for the purchase of such Notes Certificates by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Underwriter or the BankDepositor, except as provided in Section 115(f) and Section 7. As used in this Agreement, the term "Underwriter" includes any person substituted for a Underwriter under this Section 9. Nothing herein will relieve a defaulting Underwriter from liability for its default.

Default of Underwriters. If any Underwriter defaults or Underwriters default in its their obligations to purchase Notes securities hereunder and the aggregate principal amount of the Notes Securities that such defaulting Underwriter of Underwriters agreed but failed to purchase does not exceed 10% of the total principal amount of Notesthe Securities, the Representative Representatives may make arrangements satisfactory to the Bank Company for the purchase of such Notes Securities by other persons, including any of the non-defaulting Underwriters, but if no such arrangements are made by the Closing Date, the non-defaulting Underwriters shall be obligated severally, in proportion to their respective commitments hereunderunder this Agreement, to purchase the Notes Securities that such defaulting Underwriter Underwriters agreed but failed fail to purchase. If any Underwriter or Underwriters so defaults default and the aggregate principal amount of the Notes Securities with respect to which such default or defaults occur exceeds 10% of the total principal amount of the Notes Securities and arrangements satisfactory to the Representative Representatives and the Bank Company for the purchase of such Notes Securities by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Underwriter or the BankCompany, except as provided in Section 115(l), Section 7 and Section 9. Nothing herein will relieve a defaulting Underwriter from liability for its default.As used in this

Default of Underwriters. If any Underwriter defaults in its obligations to purchase Notes Certificates hereunder and the aggregate principal amount of the Notes Certificates that such defaulting Underwriter or Underwriters agreed but failed to purchase does not exceed 10% of the total principal amount of NotesCertificates to be purchased hereunder, the Representative non-defaulting Underwriters may make arrangements satisfactory to the Bank Depositor for the purchase of such Notes Certificates by other persons, including the non-defaulting Underwriters, but if no such arrangements are made by the Closing Specified Delivery Date, the non-defaulting Underwriters Representative shall be obligated severally, in proportion to their respective commitments hereunder, to purchase the Notes Certificates that such defaulting Underwriter agreed but failed to purchasepurchase hereunder. If any Underwriter so defaults and the aggregate principal amount of the Notes Certificates with respect to which such default or defaults occur occurs exceeds 10% of the total principal amount of the Notes Certificates to be purchased hereunder and arrangements satisfactory to the Representative and the Bank Depositor for the purchase of such Notes Certificates by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Underwriter or the BankDepositor, except as provided in Section 11SECTION 5(f) and SECTION 7. As used in this Agreement, the term "UNDERWRITER" includes any person substituted for a Underwriter under this SECTION 9. Nothing herein will relieve a defaulting Underwriter from liability for its default.

Default of Underwriters. If any Underwriter defaults in its obligations to purchase Notes Offered Certificates hereunder and the aggregate principal amount of the Notes Certificates that such defaulting Underwriter or Underwriters agreed but failed to purchase does not exceed 10% of the total principal amount of NotesCertificates to be purchased hereunder, the Representative Credit Suisse First Boston LLC ("CSFBLLC") may make arrangements satisfactory to the Bank Depositor for the purchase of such Notes Certificates by other persons, including the non-defaulting Underwriters, but if no such arrangements are made by the such Closing Date, the non-defaulting Underwriters Underwriter shall be obligated severally, in proportion to their respective commitments hereunder, to purchase the Notes Certificates that such defaulting Underwriter agreed but failed to purchasepurchase hereunder. If any Underwriter so defaults and the aggregate principal amount of the Notes Certificates with respect to which such default or defaults occur occurs exceeds 10% of the total principal amount of the Notes Certificates to be purchased hereunder and arrangements satisfactory to the Representative Credit Suisse First Boston LLC and the Bank Depositor for the purchase of such Notes certificates by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Underwriter or the BankDepositor, except as provided in Section 1110. As used in this Agreement, the term "Underwriter" includes any person substituted for a Underwriter under this Section. Nothing herein will relieve a defaulting Underwriter from liability for its default.

Default of Underwriters. If any Underwriter defaults in its obligations to purchase Notes hereunder and the aggregate principal amount of the Notes that such defaulting Underwriter agreed but failed to purchase does not exceed 10% of the total principal amount of Notes, the Representative may make arrangements satisfactory to the Bank for the purchase of such Notes by other persons, including the non-defaulting Underwriters, but if no such arrangements are made by the Closing Date, the non-defaulting Underwriters shall be obligated severally, in proportion to their respective commitments hereunder, to purchase the Notes that such defaulting Underwriter agreed but failed to purchase. If any Underwriter so defaults and the aggregate principal amount of the Notes with respect to which such default or defaults occur exceeds 10% of the total principal amount of the Notes and arrangements satisfactory to the Representative and the Bank for the purchase of such Notes by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Underwriter or the Bank, except as provided in Section 1112. Nothing herein will relieve a defaulting Underwriter from liability for its default.