Common use of UNDERTAKING OF SELLING AGENT Clause in Contracts

UNDERTAKING OF SELLING AGENT. The Selling Agent agrees to use its best efforts to sell the Certificates on the terms stated herein and in the Registration Statement and Prospectus and to notify Summit of the number of Certificates with respect to which subscription agreements have been executed by subscribers. It is understood that the Selling Agent 40 has no commitment to sell the Certificates other than to use its best efforts. The Selling Agent will deliver all cash and checks received from the subscribers to Summit by noon of the next business day. All checks received by the Selling Agent from subscribers shall be made payable to Summit. The Selling Agent will not maintain discretionary customer accounts and undertakes that it will not, in any event make discretionary purchases for the accounts of customers.

UNDERTAKING OF SELLING AGENT. The Selling Agent agrees to use its best efforts to sell the Certificates on the terms stated herein and in the Registration Statement and Prospectus and to notify Summit of the number of Certificates with respect to which subscription agreements have been executed by subscribers. It is understood that the Selling Agent 40 has no commitment to sell the Certificates other than to use its best efforts. The Selling Agent will deliver all cash and checks received from the subscribers to Summit by noon of the next business day. All checks received by the Selling Agent from subscribers shall be made payable to Summit. The Selling Agent will not maintain discretionary customer accounts and undertakes that it will not, in any event make discretionary purchases for the accounts of customers.

UNDERTAKING OF SELLING AGENT. The Selling Agent agrees to use its best efforts to sell the Certificates on the terms stated herein and in the Registration Statement and Prospectus and to notify Summit of the number of Certificates with respect to which subscription agreements have been executed by subscribers. It is understood that the Selling Agent 40 has no commitment to sell the Certificates other than to use its best efforts. The Selling Agent will deliver all cash and checks received from the subscribers to Summit by noon of the next business day. All checks received by the Selling Agent from subscribers shall be made payable to Summit. The Selling Agent will does not presently maintain discretionary customer accounts and undertakes that it will not, in any event make discretionary purchases of the Certificates for the accounts of customers.