Common use of Underwriter Default Clause in Contracts

Underwriter Default. (a) If any Underwriter or Underwriters shall default in its or their obligation to purchase Firm Shares, and if the Firm Shares with respect to which such default relates (the “Default Securities”) do not (after giving effect to arrangements, if any, made by the Representative pursuant to subsection (b) below) exceed in the aggregate 10% of the number of Firm Shares, each non-defaulting Underwriter, acting severally and not jointly, agrees to purchase from the Company that number of Default Securities that bears the same proportion to the total number of Default Securities then being purchased as the number of Firm Shares set forth opposite the name of such Underwriter on Schedule A hereto bears to the aggregate number of Firm Shares set forth opposite the names of the non-defaulting Underwriters; subject, however, to such adjustments to eliminate fractional shares as the Representative in its sole discretion shall make.

Underwriter Default. (a) If any Underwriter or Underwriters shall default in its or their obligation to purchase Firm SharesSecurities hereunder, and if the Firm Shares Securities with respect to which such default relates (the “Default Securities”) do not (after giving effect to arrangements, if any, made by the Representative pursuant to subsection (b) below) exceed in the aggregate 10% of the number of the Firm SharesSecurities, each non-defaulting Underwriter, acting severally and not jointly, agrees to purchase from the Company that number of Default Securities that bears the same proportion to the total number of Default Securities then being purchased as the number of Firm Shares Securities set forth opposite the name of such Underwriter on Schedule A hereto bears to the aggregate number of Firm Shares Securities set forth opposite the names of the non-defaulting Underwriters; subject, however, to such adjustments to eliminate fractional shares as the Representative in its sole discretion shall make.

Underwriter Default. (a) a. If any Underwriter or Underwriters shall default in its or their obligation to purchase Firm Shares, and if the Firm Shares with respect to which such default relates (the “Default Securities”) do not (after giving effect to arrangements, if any, made by the Representative pursuant to subsection (b) below) exceed in the aggregate 10% of the number of Firm Shares, each non-defaulting Underwriter, acting severally and not jointly, agrees to purchase from the Company that number of Default Securities that bears the same proportion to the total number of Default Securities then being purchased as the number of Firm Shares set forth opposite the name of such Underwriter on Schedule Annex A hereto bears to the aggregate number of Firm Shares set forth opposite the names of the non-defaulting Underwriters; subject, however, to such adjustments to eliminate fractional shares as the Representative in its sole discretion shall make.

Underwriter Default. (a) If any Underwriter or Underwriters shall default in its or their obligation to purchase Firm SharesShares or Additional Shares hereunder, and if the Firm Shares or Additional Shares with respect to which such default relates (the “Default SecuritiesShares”) do not (after giving effect to arrangements, if any, made by the Representative pursuant to subsection (b) below) exceed in the aggregate 10% of the number of Firm Shares or Additional Shares, each non-defaulting Underwriter, acting severally and not jointly, agrees to purchase from the Company that number of Default Securities Shares that bears the same proportion to of the total number of Default Securities Shares then being purchased as the number of Firm Shares set forth opposite the name of such Underwriter on in Schedule A I hereto bears to the aggregate number of Firm Shares set forth opposite the names of the non-defaulting Underwriters; , subject, however, to such adjustments to eliminate fractional shares as the Representative in its sole discretion shall make.

Underwriter Default. (a) If any Underwriter or Underwriters shall default in its or their obligation to purchase Firm SharesSecurities hereunder, and if the Firm Shares securities with respect to which such default relates (the “Default Securities”) do not (after giving effect to arrangements, if any, made by the Representative pursuant to subsection (b) below) exceed in the aggregate 10% of the number of Firm SharesSecurities, each non-defaulting Underwriter, acting severally and not jointly, agrees to purchase from the Company that number of Default Securities that bears the same proportion to of the total number of Default Securities then being purchased as the number of Firm Shares Securities set forth opposite the name of such Underwriter on Schedule A I hereto bears to the aggregate number of Firm Shares Securities set forth opposite the names of the non-defaulting Underwriters; , subject, however, to such adjustments to eliminate fractional shares as the Representative in its sole discretion shall make.

Underwriter Default. (a) If any Underwriter or Underwriters shall default in its or their obligation to purchase Firm SharesShares hereunder, and if the Firm Shares securities with respect to which such default relates (the “Default Securities”) do not (after giving effect to arrangements, if any, made by the Representative pursuant to subsection (b) below) exceed in the aggregate 10% of the number of Firm Shares, each non-defaulting Underwriter, acting severally and not jointly, agrees to purchase from the Company that number of Default Securities that bears the same proportion to of the total number of Default Securities then being purchased as the number of Firm Shares set forth opposite the name of such Underwriter on Schedule A I hereto bears to the aggregate number of Firm Shares set forth opposite the names of the non-defaulting Underwriters; , subject, however, to such adjustments to eliminate fractional shares as the Representative in its sole discretion shall make.

Underwriter Default. (a) If any Underwriter or Underwriters shall default in its or their obligation to purchase Firm SharesUnits hereunder, and if the Firm Shares securities with respect to which such default relates (the “Default Securities”) do not (after giving effect to arrangements, if any, made by the Representative pursuant to subsection (b) below) exceed in the aggregate 10% of the number of Firm SharesUnits, each non-defaulting Underwriter, acting severally and not jointly, agrees to purchase from the Company that number of Default Securities that bears the same proportion to of the total number of Default Securities then being purchased as the number of Firm Shares Units set forth opposite the name of such Underwriter on Schedule A I hereto bears to the aggregate number of Firm Shares Units set forth opposite the names of the non-defaulting Underwriters; , subject, however, to such adjustments to eliminate fractional shares as the Representative in its sole discretion shall make.

Underwriter Default. (a) If any Underwriter or Underwriters shall default in its or their obligation to purchase Firm Sharesthe Shares and Warrants, and if the Firm Shares securities with respect to which such default relates (the “Default Securities”) do not (after giving effect to arrangements, if any, made by the Representative pursuant to subsection (b) below) exceed in the aggregate 10% of the number of Firm SharesShares and Warrants, each non-defaulting Underwriter, acting severally and not jointly, agrees to purchase from the Company that number of Default Securities that bears the same proportion to of the total number of Default Securities then being purchased as the number of Firm Shares and Warrants set forth opposite the name of such Underwriter on Schedule A hereto bears to the aggregate number of Firm Shares and Warrants set forth opposite the names of the non-defaulting Underwriters; , subject, however, to such adjustments to eliminate fractional shares as the Representative in its sole discretion shall make.

Underwriter Default. (a) If any Underwriter or Underwriters shall default in its or their obligation to purchase Firm SharesShares hereunder, and if the Firm Shares with respect to which such default relates (the “Default SecuritiesShares”) do not (after giving effect to arrangements, if any, made by the Representative pursuant to subsection (b) below) exceed in the aggregate 10% of the number of Firm Shares, each non-defaulting Underwriter, acting severally and not jointly, agrees to purchase from the Company that number of Default Securities Shares that bears the same proportion to of the total number of Default Securities Shares then being purchased as the number of Firm Shares set forth opposite the name of such Underwriter on Schedule A hereto bears to the aggregate number of Firm Shares set forth opposite the names of the non-defaulting Underwriters; , subject, however, to such adjustments to eliminate fractional shares as the Representative in its sole discretion shall make.

Underwriter Default. (a) If any Underwriter or Underwriters shall default in its or their obligation to purchase Firm Shares, and if the Firm Shares Securities with respect to which such default relates (the “Default Securities”) do not (after giving effect to arrangements, if any, made by the Representative pursuant to subsection (b) below) exceed in the aggregate 10% of the number of Firm Shares, each non-defaulting Underwriter, acting severally and not jointly, agrees to purchase from the Company that number of Default Securities that bears the same proportion to the total number of Default Securities then being purchased as the number of Firm Shares set forth opposite the name of such Underwriter on Schedule A hereto bears to the aggregate number of Firm Shares set forth opposite the names of the non-defaulting Underwriters; subject, however, to such adjustments to eliminate fractional shares as the Representative in its sole discretion shall make.

Underwriter Default. (a) If any Underwriter or Underwriters shall default in its or their obligation to purchase the Firm Shares, and if the Firm Shares with respect to which such default relates (the “Default Securities”) do not (after giving effect to arrangements, if any, made by the Representative pursuant to subsection (b) below) exceed in the aggregate ten percent (10% %) of the number of Firm Shares, each non-defaulting Underwriter, acting severally and not jointly, agrees to purchase from the Company that number of Default Securities that bears the same proportion to the total number of Default Securities then being purchased as the number of Firm Shares set forth opposite the name of such Underwriter on Schedule A hereto bears to the aggregate number of Firm Shares set forth opposite the names of the non-defaulting Underwriters; subject, however, to such adjustments to eliminate fractional shares as the Representative in its sole discretion shall make.

Underwriter Default. (a) If any Underwriter or Underwriters shall default in its or their obligation to purchase Firm Shares, and if the Firm Shares with respect to which such default relates (the “Default Securities”) do not (after giving effect to arrangements, if any, made by the Representative pursuant to subsection (b) below) exceed in the aggregate 10% of the number of Firm Shares, each non-defaulting Underwriter, acting severally and not jointly, agrees to purchase from the Company that number of Default Securities that bears the same proportion to the total number of Default Securities then being purchased as the number of Firm Shares set forth opposite the name of such Underwriter on Schedule Annex A hereto bears to the aggregate number of Firm Shares set forth opposite the names of the non-defaulting Underwriters; subject, however, to such adjustments to eliminate fractional shares as the Representative in its sole discretion shall make.

Underwriter Default. (a) If any Underwriter or Underwriters shall default in its or their obligation to purchase Firm Shares, and if the Firm Shares with respect to which such default relates (the “Default Securities”) do not (after giving effect to arrangements, if any, made by the Representative Representatives pursuant to subsection (b) below) exceed in the aggregate 10% of the number of Firm Shares, each non-defaulting Underwriter, acting severally and not jointly, agrees to purchase from the Company that number of Default Securities that bears the same proportion to the total number of Default Securities then being purchased as the number of Firm Shares set forth opposite the name of such Underwriter on Schedule A hereto bears to the aggregate number of Firm Shares set forth opposite the names of the non-defaulting Underwriters; subject, however, to such adjustments to eliminate fractional shares as the Representative Representatives in its sole discretion shall make.

Underwriter Default. (a) If any Underwriter or Underwriters shall default in its or their obligation to purchase Firm SharesUnits hereunder, and if the Firm Shares Units with respect to which such default relates (the “Default SecuritiesUnits”) do not (after giving effect to arrangements, if any, made by the Representative pursuant to subsection (b) below) exceed in the aggregate 10% of the number of Firm SharesUnits, each non-defaulting Underwriter, acting severally and not jointly, agrees to purchase from the Company that number of Default Securities Units that bears the same proportion to of the total number of Default Securities Units then being purchased as the number of Firm Shares Units set forth opposite the name of such Underwriter on Schedule A hereto bears to the aggregate number of Firm Shares Units set forth opposite the names of the non-defaulting Underwriters; , subject, however, to such adjustments to eliminate fractional shares as the Representative in its sole discretion shall make.

Underwriter Default. (a) If any Underwriter or Underwriters shall default in its or their obligation to purchase Firm Shares, and if the Firm Shares with respect to which such default relates (the “Default Securities”) do not (after giving effect to arrangements, if any, made by the Representative pursuant to subsection (b) below) exceed in the aggregate 10% of the number of Firm Shares, each non-defaulting Underwriter, acting severally and not jointly, agrees to purchase from the Company that number of Default Securities that bears the same proportion to the total number of Default Securities then being purchased as the number of Firm Shares set forth opposite the name of such Underwriter on Schedule Annex A hereto bears to the aggregate number of Firm Shares set forth opposite the names of the non-defaulting Underwriters; subject, however, to such adjustments to eliminate fractional shares as the Representative in its sole discretion shall make.

Underwriter Default. (a) If any Underwriter or Underwriters shall default in its or their obligation to purchase Firm SharesShares hereunder, and if the Firm Shares with respect to which such default relates (the “Default SecuritiesShares”) do not (after giving effect to arrangements, if any, made by the Representative Representatives pursuant to subsection (b) below) exceed in the aggregate 10% of the number of Firm Shares, each non-defaulting Underwriter, acting severally and not jointly, agrees to purchase from the Company that number of Default Securities Shares that bears the same proportion to of the total number of Default Securities Shares then being purchased as the number of Firm Shares set forth opposite the name of such Underwriter on Schedule A hereto bears to the aggregate number of Firm Shares set forth opposite the names of the non-defaulting Underwriters; , subject, however, to such adjustments to eliminate fractional shares as the Representative Representatives in its their sole discretion shall make.

Underwriter Default. (a) If any Underwriter or Underwriters shall default in its or their obligation to purchase Firm SharesShares hereunder, and if the Firm Shares with respect to which such default relates (the “Default SecuritiesShares”) do not (after giving effect to arrangements, if any, made by the Representative Representatives pursuant to subsection (b) below) exceed in the aggregate 10% of the number of Firm Shares, each non-defaulting Underwriter, acting severally and not jointly, agrees to purchase from the Company that number of Default Securities Shares that bears the same proportion to of the total number of Default Securities Shares then being purchased as the number of Firm Shares set forth opposite the name of such Underwriter on Schedule A hereto bears to the aggregate number of Firm Shares set forth opposite the names of the non-defaulting Underwriters; , subject, however, to such adjustments to eliminate fractional shares as the Representative Representatives in its sole discretion shall make.

Underwriter Default. (a) If any Underwriter or Underwriters shall default in its or their obligation to purchase Firm SharesShares hereunder, and if the Firm Shares securities with respect to which such default relates (the “Default Securities”) do not (after giving effect to arrangements, if any, made by the Representative pursuant to subsection (b) below) exceed in the aggregate 10% of the number of Firm Shares, each non-defaulting Underwriter, acting severally and not jointly, agrees to purchase from the Company that number of Default Securities that bears the same proportion to of the total number of Default Securities then being purchased as the number of Firm Shares set forth opposite the name of such Underwriter on Schedule A I hereto bears to the aggregate number of Firm Shares set forth opposite the names of the non-defaulting Underwriters; , subject, however, to such adjustments to eliminate fractional shares as the Representative in its sole discretion shall make.

Underwriter Default. (a) If any Underwriter or Underwriters shall default in its or their obligation to purchase Firm SharesADSs, and if the Firm Shares ADSs with respect to which such default relates (the “Default Securities”) do not (after giving effect to arrangements, if any, made by the Representative pursuant to subsection (b) below) exceed in the aggregate 10% of the number of Firm SharesADSs, each non-defaulting Underwriter, acting severally and not jointly, agrees to purchase from the Company that number of Default Securities that bears the same proportion to the total number of Default Securities then being purchased as the number of Firm Shares ADSs set forth opposite the name of such Underwriter on Schedule A hereto bears to the aggregate number of Firm Shares ADSs set forth opposite the names of the non-defaulting Underwriters; subject, however, to such adjustments to eliminate fractional shares as the Representative in its sole discretion shall make.

Underwriter Default. (a) If any Underwriter or Underwriters shall default in its or their obligation to purchase the Firm SharesSecurities hereunder, and if the Firm Shares Securities with respect to which such default relates (the “Default Securities”) do not (after giving effect to arrangements, if any, made by the Representative pursuant to subsection (b) below) exceed in the aggregate 10% of the number of Firm SharesSecurities, each non-defaulting Underwriter, acting severally and not jointly, agrees to purchase from the Company that number of Default Securities that bears the same proportion to of the total number of Default Securities then being purchased as the number of Firm Shares Securities set forth opposite the name of such Underwriter on Schedule A hereto bears to the aggregate number of Firm Shares Securities set forth opposite the names of the non-defaulting Underwriters; , subject, however, to such adjustments to eliminate fractional shares as the Representative in its sole discretion shall make.

Underwriter Default. (a) If any Underwriter or Underwriters shall default in its or their obligation to purchase Firm SharesShares hereunder, and if the Firm Shares Securities with respect to which such default relates (the “Default Securities”) do not (after giving effect to arrangements, if any, made by the Representative pursuant to subsection (b) below) exceed in the aggregate 10% of the number of Firm Shares, each non-defaulting Underwriter, acting severally and not jointly, agrees to purchase from the Company that number of Default Securities that bears the same proportion to the total number of Default Securities then being purchased as the number of Firm Shares set forth opposite the name of such Underwriter on Schedule A hereto bears to the aggregate number of Firm Shares set forth opposite the names of the non-defaulting Underwriters; subject, however, to such adjustments to eliminate fractional shares as the Representative in its sole discretion shall make.

Underwriter Default. (a) If any Underwriter or Underwriters shall default in its or their obligation to purchase Firm SharesShares hereunder, and if the Firm Shares Securities with respect to which such default relates (the “Default Securities”) do not (after giving effect to arrangements, if any, made by the Representative pursuant to subsection (b) below) exceed in the aggregate 10% of the number of Firm Shares, each non-defaulting Underwriter, acting severally and not jointly, agrees to purchase from the Company that number of Default Securities that bears the same proportion to the total number of Default Securities then being purchased as the number of Firm Shares set forth opposite the name of such Underwriter on Schedule A hereto bears to the aggregate number of Firm Shares set forth opposite the names of the non-defaulting Underwriters; subject, however, to such adjustments to eliminate fractional shares securities as the Representative in its sole discretion shall make.

Underwriter Default. (a) If any Underwriter or Underwriters shall default in its or their obligation to purchase Firm SharesShares hereunder, and if the Firm Shares with respect to which such default relates (the “Default Securities”) do not (after giving effect to arrangements, if any, made by the Representative pursuant to subsection (b) below) exceed in the aggregate 10% of the number of the Firm Shares, each non-defaulting Underwriter, acting severally and not jointly, agrees to purchase from the Company that number of Default Securities that bears the same proportion to the total number of Default Securities then being purchased as the number of Firm Shares set forth opposite the name of such Underwriter on Schedule A hereto bears to the aggregate number of Firm Shares set forth opposite the names of the non-defaulting Underwriters; subject, however, to such adjustments to eliminate fractional shares as the Representative in its sole discretion shall make.

Underwriter Default. (a) If any Underwriter or Underwriters shall default in its or their obligation to purchase Firm Sharesthe Units hereunder, and if the Firm Shares Securities with respect to which such default relates (the “Default Securities”) do not (after giving effect to arrangements, if any, made by the Representative pursuant to subsection (b) below) exceed in the aggregate 10% of the number of Firm SharesUnits, each non-defaulting Underwriter, acting severally and not jointly, agrees to purchase from the Company that number of Default Securities that bears the same proportion to the total number of Default Securities then being purchased as the number of Firm Shares Units set forth opposite the name of such Underwriter on Schedule A hereto bears to the aggregate number of Firm Shares Units set forth opposite the names of the non-defaulting Underwriters; subject, however, to such adjustments to eliminate fractional shares as the Representative in its sole discretion shall make.

Underwriter Default. (a) If any Underwriter or Underwriters shall default in its or their obligation to purchase Firm the Shares, and if the Firm Shares with respect to which such default relates (the “Default Securities”) do not (after giving effect to arrangements, if any, made by the Representative Underwriter pursuant to subsection (b) below) exceed in the aggregate 10% of the number of Firm Shares, each non-defaulting Underwriter, acting severally and not jointly, agrees to purchase from the Company that number of Default Securities that bears the same proportion to the total number of Default Securities then being purchased as the number of Firm Shares set forth opposite the name of such Underwriter on Schedule A hereto bears to the aggregate number of Firm Shares set forth opposite the names of the non-defaulting UnderwritersUnderwriter; subject, however, to such adjustments to eliminate fractional shares as the Representative Underwriter in its sole discretion shall make.

Underwriter Default. (a) If any Underwriter or Underwriters shall default in its or their obligation to purchase Firm SharesUnits hereunder, and if the Firm Shares Units with respect to which such default relates (the “Default SecuritiesUnits”) do not (after giving effect to arrangements, if any, made by the Representative pursuant to subsection (b) below) exceed in the aggregate ten percent (10% %) of the number of Firm SharesUnits, each non-defaulting Underwriter, acting severally and not jointly, agrees to purchase from the Company that number of Default Securities Units that bears the same proportion to of the total number of Default Securities Units then being purchased as the number of Firm Shares Units set forth opposite the name of such Underwriter on Schedule A hereto bears to the aggregate number of Firm Shares Units set forth opposite the names of the non-defaulting Underwriters; , subject, however, to such adjustments to eliminate fractional shares as the Representative in its sole discretion shall make.

Underwriter Default. (a) If any Underwriter or Underwriters shall default in its or their obligation to purchase Firm SharesUnits hereunder, and if the Firm Shares securities with respect to which such default relates (the “Default Securities”) do not (after giving effect to arrangements, if any, made by the Representative pursuant to subsection (b) below) exceed in the aggregate 10% of the number of Firm SharesUnits, each non-defaulting Underwriter, acting severally and not jointly, agrees to purchase from the Company that number of Default Securities that bears the same proportion to of the total number of Default Securities then being purchased as the number of Firm Shares Units set forth opposite the name of such Underwriter on Schedule A I hereto bears to the aggregate number of Firm Shares Units set forth opposite the names of the non-defaulting Underwriters; , subject, however, to such adjustments to eliminate fractional shares as the Representative in its sole discretion shall make.

Underwriter Default. (a) If any Underwriter or Underwriters shall default in its or their obligation to purchase Firm Sharesthe Units hereunder, and if the Firm Shares Securities with respect to which such default relates (the “Default Securities”) do not (after giving effect to arrangements, if any, made by the Representative pursuant to subsection (b) below) exceed in the aggregate 10% of the number of Firm SharesUnits, each non-defaulting Underwriter, acting severally and not jointly, agrees to purchase from the Company that number of Default Securities that bears the same proportion to the total number of Default Securities then being purchased as the number of Firm Shares and Warrants set forth opposite the name of such Underwriter on Schedule A hereto bears to the aggregate number of Firm Shares and Warrants set forth opposite the names of the non-defaulting Underwriters; subject, however, to such adjustments to eliminate fractional shares as the Representative in its sole discretion shall make.

Underwriter Default. (a) If any Underwriter or Underwriters shall default in its or their obligation to purchase Firm SharesShares hereunder, and if the Firm Shares with respect to which such default relates (the “Default SecuritiesShares”) do not (after giving effect to arrangements, if any, made by the Representative Representatives pursuant to subsection (b) below) exceed in the aggregate 10% of the number of Firm Shares, each non-defaulting Underwriter, acting severally and not jointly, agrees to purchase from the Company that number of Default Securities Shares that bears the same proportion to of the total number of Default Securities Shares then being purchased as the number of Firm Shares set forth opposite the name of such Underwriter on Schedule A hereto bears to the aggregate number of Firm Shares set forth opposite the names of the non-defaulting Underwriters; , subject, however, to such adjustments to eliminate fractional shares as the Representative Representatives in its their sole discretion shall make.

Underwriter Default. (a) If any Underwriter or Underwriters shall default in its or their obligation to purchase Firm SharesShares hereunder, and if the Firm Shares Securities with respect to which such default relates (the “Default Securities”) do not (after giving effect to arrangements, if any, made by the Representative pursuant to subsection (b) below) exceed in the aggregate 10% of the number of the Firm Shares, each non-defaulting Underwriter, acting severally and not jointly, agrees to purchase from the Company that number of Default Securities that bears the same proportion to the total number of Default Securities then being purchased as the number of Firm Shares set forth opposite the name of such Underwriter on Schedule A hereto bears to the aggregate number of Firm Shares set forth opposite the names of the non-defaulting Underwriters; subject, however, to such adjustments to eliminate fractional shares as the Representative in its sole discretion shall make.

Underwriter Default. (a) If any Underwriter or Underwriters shall default in its or their obligation to purchase Firm Shares, and if the Firm Shares Securities with respect to which such default relates (the “Default Securities”) do not (after giving effect to arrangements, if any, made by the Representative Underwriter pursuant to subsection (b) below) exceed in the aggregate 10% of the number of Firm Shares, each non-defaulting Underwriter, acting severally and not jointly, agrees to purchase from the Company that number of Default Securities that bears the same proportion to the total number of Default Securities then being purchased as the number of Firm Shares set forth opposite the name of such Underwriter on Schedule A hereto bears to the aggregate number of Firm Shares set forth opposite the names of the non-defaulting UnderwritersUnderwriter; subject, however, to such adjustments to eliminate fractional shares as the Representative Underwriter in its sole discretion shall make.

Underwriter Default. (a) If any Underwriter or Underwriters shall default in its or their obligation to purchase Firm SharesUnits hereunder, and if the Firm Shares Offered Securities with respect to which such default relates (the “Default Securities”) do not (after giving effect to arrangements, if any, made by the Representative pursuant to subsection (b) below) exceed in the aggregate ten percent (10% %) of the number of the Firm Shares, each non-defaulting Underwriter, acting severally and not jointly, agrees to purchase from the Company that number of Default Securities that bears the same proportion to the total number of Default Securities then being purchased as the number of Firm Shares set forth opposite the name of such Underwriter on Schedule A hereto bears to the aggregate number of Firm Shares set forth opposite the names of the non-defaulting Underwriters; subject, however, to such adjustments to eliminate fractional shares as the Representative in its sole discretion shall make.

Underwriter Default. (a) If a)If any Underwriter or Underwriters shall default in its or their obligation to purchase Firm SharesSecurities hereunder, and if the Firm Shares securities with respect to which such default relates (the “Default Securities”) do not (after giving effect to arrangements, if any, made by the Representative pursuant to subsection (b) below) exceed in the aggregate 10% of the number of Firm SharesSecurities, each non-defaulting Underwriter, acting severally and not jointly, agrees to purchase from the Company that number of Default Securities that bears the same proportion to of the total number of Default Securities then being purchased as the number of Firm Shares Securities set forth opposite the name of such Underwriter on Schedule A I hereto bears to the aggregate number of Firm Shares Securities set forth opposite the names of the non-defaulting Underwriters; , subject, however, to such adjustments to eliminate fractional shares as the Representative in its sole discretion shall make.

Underwriter Default. (a) If any Underwriter or Underwriters shall default in its or their obligation to purchase Firm SharesUnits hereunder, and if the Firm Shares Units with respect to which such default relates (the “Default Securities”) do not (after giving effect to arrangements, if any, made by the Representative pursuant to subsection (b) below) exceed in the aggregate 10% of the number of Firm SharesUnits, each non-defaulting Underwriter, acting severally and not jointly, agrees to purchase from the Company that number of Default Securities that bears the same proportion to of the total number of Default Securities then being purchased as the number of Firm Shares Units set forth opposite the name of such Underwriter on Schedule A I hereto bears to the aggregate number of Firm Shares Units set forth opposite the names of the non-defaulting Underwriters; , subject, however, to such adjustments to eliminate fractional shares as the Representative in its sole discretion shall make.

Underwriter Default. (a1) If any Underwriter or Underwriters shall default in its or their obligation to purchase Firm SharesShares hereunder, and if the Firm Shares with respect to which such default relates (the “Default SecuritiesShares”) do not (after giving effect to arrangements, if any, made by the Representative pursuant to subsection (b2) below) exceed in the aggregate 10% of the number of Firm Shares, each non-defaulting Underwriter, acting severally and not jointly, agrees to purchase from the Company that number of Default Securities Shares that bears the same proportion to of the total number of Default Securities Shares then being purchased as the number of Firm Shares set forth opposite the name of such Underwriter on Schedule A hereto bears to the aggregate number of Firm Shares set forth opposite the names of the non-defaulting Underwriters; , subject, however, to such adjustments to eliminate fractional shares as the Representative in its sole discretion shall make.

Underwriter Default. (a) If any Underwriter or Underwriters shall default in its or their obligation to purchase Firm SharesSecurities hereunder, and if the Firm Shares Securities with respect to which such default relates (the “Default SecuritiesShares”) do not (after giving effect to arrangements, if any, made by the Representative pursuant to subsection (b) below) exceed in the aggregate 10% of the number of Firm SharesSecurities, each non-defaulting Underwriter, acting severally and not jointly, agrees to purchase from the Company that number of Default Securities Shares that bears the same proportion to of the total number of Default Securities Shares then being purchased as the number of Firm Shares Securities set forth opposite the name of such Underwriter on Schedule A hereto bears to the aggregate number of Firm Shares Securities set forth opposite the names of the non-defaulting Underwriters; , subject, however, to such adjustments to eliminate fractional shares as the Representative in its sole discretion shall make.

Underwriter Default. (a) If any Underwriter or Underwriters shall default in its or their obligation to purchase Firm the Shares, and if the Firm Shares securities with respect to which such default relates (the “Default Securities”) do not (after giving effect to arrangements, if any, made by the Representative pursuant to subsection (b) below) exceed in the aggregate 10% of the number of Firm Shares, each non-defaulting Underwriter, acting severally and not jointly, agrees to purchase from the Company or the Selling Stockholders, as applicable, that number of Default Securities that bears the same proportion to of the total number of Default Securities then being purchased as the number of Firm Shares set forth opposite the name of such Underwriter on Schedule A hereto bears to the aggregate number of Firm Shares set forth opposite the names of the non-defaulting Underwriters; , subject, however, to such adjustments to eliminate fractional shares as the Representative Representatives in its their sole discretion shall make.

Underwriter Default. (a) If any Underwriter or Underwriters shall default in its or their obligation to purchase Firm SharesSecurities hereunder, and if the Firm Shares securities with respect to which such default relates (the “Default Securities”) do not (after giving effect to arrangements, if any, made by the Representative pursuant to subsection (b) below) exceed in the aggregate 10% of the number of Firm SharesSecurities, each non-defaulting Underwriter, acting severally and not jointly, agrees to purchase from the Company that number of Default Securities that bears the same proportion to of the total number of Default Securities then being purchased as the number of Firm Shares Securities set forth opposite the name of such Underwriter on Schedule A I hereto bears to the aggregate number of Firm Shares Securities set forth opposite the names of the non-defaulting Underwriters; , subject, however, to such adjustments to eliminate fractional shares as the Representative in its sole discretion shall make.

Underwriter Default. (a) If any Underwriter or Underwriters shall default in its or their obligation to purchase Firm SharesShares hereunder, and if the Firm Shares with respect to which such default relates (the “"Default Securities”Shares") do not (after giving effect to arrangements, if any, made by the Representative Lead Manager pursuant to subsection (b) below) exceed in the aggregate 10% of the number of Firm Shares, each non-defaulting Underwriter, acting severally and not jointly, agrees to purchase from the Company that number of Default Securities Shares that bears the same proportion to of the total number of Default Securities Shares then being purchased as the number of Firm Shares set forth opposite the name of such Underwriter on in Schedule A I hereto bears to the aggregate number of Firm Shares set forth opposite the names of the non-defaulting Underwriters; , subject, however, to such adjustments to eliminate fractional shares as the Representative Lead Manager in its sole discretion shall make.

Underwriter Default. (a) If any Underwriter or Underwriters shall default in its or their obligation to purchase Firm SharesShares hereunder, and if the Firm Shares Offered Securities with respect to which such default relates (the “Default Securities”) do not (after giving effect to arrangements, if any, made by the Representative pursuant to subsection (b) below) exceed in the aggregate ten percent (10% %) of the number of the Firm Shares, each non-defaulting Underwriter, acting severally and not jointly, agrees to purchase from the Company that number of Default Securities that bears the same proportion to the total number of Default Securities then being purchased as the number of Firm Shares set forth opposite the name of such Underwriter on Schedule A hereto bears to the aggregate number of Firm Shares set forth opposite the names of the non-defaulting Underwriters; subject, however, to such adjustments to eliminate fractional shares as the Representative in its sole discretion shall make.

Underwriter Default. (a) If any Underwriter or Underwriters shall default in its or their obligation to purchase Firm SharesShares hereunder, and if the Firm Shares with respect to which such default relates (the “Default SecuritiesShares”) do not (after giving effect to arrangements, if any, made by the Representative Representatives pursuant to subsection (b) below) exceed in the aggregate 10% of the number of Firm Shares, each non-defaulting Underwriter, acting severally and not jointly, agrees to purchase from the Company that number of Default Securities Shares that bears the same proportion to of the total number of Default Securities Shares then being purchased as the number of Firm Shares set forth opposite the name of such Underwriter on Schedule A hereto bears to the aggregate number of Firm Shares set forth opposite the names of the non-defaulting Underwriters; , subject, however, to such adjustments to eliminate fractional shares as the Representative Representatives in its sole discretion shall make.. Maxim Group LLC Chardan Capital Markets LLC ___________, 2006 Page 38 of 44

Underwriter Default. (a) If a)If any Underwriter or Underwriters shall default in its or their obligation to purchase Firm SharesSecurities hereunder, and if the Firm Shares securities with respect to which such default relates (the “Default Securities”) do not (after giving effect to arrangements, if any, made by the Representative pursuant to subsection (b) below) exceed ​ ​ in the aggregate 10% of the number of Firm SharesSecurities, each non-defaulting Underwriter, acting severally and not jointly, agrees to purchase from the Company that number of Default Securities that bears the same proportion to of the total number of Default Securities then being purchased as the number of Firm Shares Securities set forth opposite the name of such Underwriter on Schedule A I hereto bears to the aggregate number of Firm Shares Securities set forth opposite the names of the non-defaulting Underwriters; , subject, however, to such adjustments to eliminate fractional shares as the Representative in its sole discretion shall make.

Underwriter Default. (a) If any Underwriter or Underwriters shall default in its or their obligation to purchase Firm SharesShares hereunder, and if the Firm Shares securities with respect to which such default relates (the “Default Securities”) do not (after giving effect to arrangements, if any, made by the Representative pursuant to subsection (b) below) exceed in the aggregate 10% of the number of Firm Shares, each non-defaulting Underwriter, acting severally and not jointly, agrees to purchase from the Company that number of Default Securities that bears the same proportion to of the total number of Default Securities then being purchased as the number of Firm Shares set forth opposite the name of such Underwriter on Schedule A I hereto bears to the aggregate number of Firm Shares set forth opposite the names of the non-defaulting Underwriters; , subject, however, to such adjustments to eliminate fractional shares as the Representative in its sole discretion shall make.

Underwriter Default. (a) If any Underwriter or Underwriters shall default in its or their obligation to purchase Firm SharesUnits hereunder, and if the Firm Shares securities with respect to which such default relates (the “Default Securities”) do not (after giving effect to arrangements, if any, made by the Representative pursuant to subsection (b) below) exceed in the aggregate 10% of the number of Firm SharesUnits, each non-defaulting Underwriter, acting severally and not jointly, agrees to purchase from the Company that number of Default Securities that bears the same proportion to of the total number of Default Securities then being purchased as the number of Firm Shares Units set forth opposite the name of such Underwriter on Schedule A I hereto bears to the aggregate number of Firm Shares Units set forth opposite the names of the non-defaulting Underwriters; , subject, however, to such adjustments to eliminate fractional shares as the Representative in its sole discretion shall make.

Underwriter Default. (a) If any Underwriter or Underwriters shall default in its or their obligation to purchase Firm SharesADSs hereunder, and if the Firm Shares securities with respect to which such default relates (the “Default Securities”) do not (after giving effect to arrangements, if any, made by the Representative pursuant to subsection (b) below) exceed in the aggregate 10% of the number of Firm SharesADSs, each non-defaulting Underwriter, acting severally and not jointly, agrees to purchase from the Company that number of Default Securities that bears the same proportion to of the total number of Default Securities then being purchased as the number of Firm Shares ADSs set forth opposite the name of such Underwriter on Schedule A I hereto bears to the aggregate number of Firm Shares ADSs set forth opposite the names of the non-defaulting Underwriters; , subject, however, to such adjustments to eliminate fractional shares as the Representative in its sole discretion shall make.

Underwriter Default. (a) If any Underwriter or Underwriters shall default in its or their obligation to purchase Firm SharesUnits hereunder, and if the Firm Shares securities with respect to which such default relates (the “Default SecuritiesUnits”) do not (after giving effect to arrangements, if any, made by the Representative pursuant to subsection (b) below) exceed in the aggregate 10% of the number of Firm SharesUnits, each non-defaulting Underwriter, acting severally and not jointly, agrees to purchase from the Company that number of Default Securities Units that bears the same proportion to of the total number of Default Securities Units then being purchased as the number of Firm Shares Units set forth opposite the name of such Underwriter on Schedule A I hereto bears to the aggregate number of Firm Shares Units set forth opposite the names of the non-defaulting Underwriters; , subject, however, to such adjustments to eliminate fractional shares securities as the Representative in its sole discretion shall make.

Underwriter Default. (a) If any Underwriter or Underwriters shall default in its or their obligation to purchase the Firm SharesShares hereunder, and if the Firm Shares Securities with respect to which such default relates (the “Default Securities”) do not (after giving effect to arrangements, if any, made by the Representative pursuant to subsection (b) below) exceed in the aggregate 10% of the number of Firm Shares, each non-defaulting Underwriter, acting severally and not jointly, agrees to purchase from the Company that number of Default Securities that bears the same proportion to of the total number of Default Securities then being purchased as the number of Firm Shares set forth opposite the name of such Underwriter on Schedule A hereto bears to the aggregate number of Firm Shares set forth opposite the names of the non-defaulting Underwriters; , subject, however, to such adjustments to eliminate fractional shares as the Representative in its sole discretion shall make.

Underwriter Default. (a) If any Underwriter or Underwriters shall default in its or their obligation to purchase Firm SharesSecurities hereunder, and if the Firm Shares Securities with respect to which such default relates (the “Default Securities”) do not (after giving effect to arrangements, if any, made by the Representative Lead Manager pursuant to subsection (b) below) exceed in the aggregate 10% of the number or amount of Firm SharesSecurities, each non-defaulting Underwriter, acting severally and not jointly, agrees to purchase from the Company that number or amount of Default Securities that bears the same proportion to of the total number or amount of Default Securities then being purchased as the number or amount of Firm Shares Securities set forth opposite the name of such Underwriter on in Schedule A I hereto bears to the aggregate number or amount of Firm Shares Securities set forth opposite the names of the non-defaulting Underwriters; , subject, however, to such adjustments to eliminate fractional shares as the Representative Lead Manager in its sole discretion shall make.

Underwriter Default. (a) If any Underwriter or Underwriters shall default in its or their obligation to purchase Firm SharesSecurities hereunder, and if the Firm Shares Securities with respect to which such default relates (the “Default Securities”) do not (after giving effect to arrangements, if any, made by the Representative pursuant to subsection (b) below) exceed in the aggregate 10% of the number of Firm SharesSecurities, each non-defaulting Underwriter, acting severally and not jointly, agrees to purchase from the Company that number of Default Securities that bears the same proportion to of the total number of Default Securities then being purchased as the number of Firm Shares Securities set forth opposite the name of such Underwriter on Schedule A hereto bears to the aggregate number of Firm Shares Securities set forth opposite the names of the non-defaulting Underwriters; , subject, however, to such adjustments to eliminate fractional shares as the Representative in its sole discretion shall make.

Underwriter Default. (a) If any Underwriter or Underwriters shall default in its or their obligation to purchase Firm SharesShares hereunder, and if the Firm Shares with respect to which such default relates (the “Default Securities”) do not (after giving effect to arrangements, if any, made by the Representative Co-Representatives pursuant to subsection (b) below) exceed in the aggregate 10% of the number of Firm Shares, each non-defaulting Underwriter, acting severally and not jointly, agrees to purchase from the Company that number of Default Securities that bears the same proportion to the total number of Default Securities then being purchased as the number of Firm Shares set forth opposite the name of such Underwriter on Schedule A hereto bears to the aggregate number of Firm Shares set forth opposite the names of the non-defaulting Underwriters; subject, however, to such adjustments to eliminate fractional shares as the Representative Co-Representatives in its sole their discretion shall make.

Underwriter Default. (a) If a)If any Underwriter or Underwriters shall default in its or their obligation to purchase Firm SharesSecurities hereunder, and if the Firm Shares Securities with respect to which such default relates (the “Default Securities”) do not (after giving effect to arrangements, if any, made by the Representative Representatives pursuant to subsection (b) below) exceed in the aggregate 10% of the number of the Firm SharesSecurities, each non-defaulting Underwriter, acting severally and not jointly, agrees to purchase from the Company that number of Default Securities that bears the same proportion to the total number of Default Securities then being purchased as the number of Firm Shares Securities set forth opposite the name of such Underwriter on Schedule A hereto bears to the aggregate number of Firm Shares Securities set forth opposite the names of the non-defaulting Underwriters; subject, however, to such adjustments to eliminate fractional shares as the Representative Representatives in its sole their discretion shall make.

Underwriter Default. (a) If any Underwriter or Underwriters shall default in its or their obligation to purchase Firm SharesShares hereunder, and if the Firm Shares with respect to which such default relates (the “"Default Securities”") do not (after giving effect to arrangements, if any, made by the Representative Representatives pursuant to subsection (b) below) exceed in the aggregate 102.5% of the total number of Firm Shares, each non-defaulting Underwriter, acting severally and not jointly, agrees to purchase from the Company that number of Default Securities that bears the same proportion to the total number of Default Securities then being purchased as the number of Firm Shares set forth opposite the name of such Underwriter on Schedule A hereto bears to the aggregate number of Firm Shares set forth opposite the names of the non-defaulting Underwriters; subject, however, to such adjustments to eliminate fractional shares as the Representative Representatives in its sole discretion shall make.

Underwriter Default. (a) If any Underwriter or Underwriters shall default in its or their obligation to purchase Firm SharesSecurities hereunder, and if the Firm Shares Securities with respect to which such default relates (the “Default Securities”) do not (after giving effect to arrangements, if any, made by the Representative pursuant to subsection (b) below) exceed in the aggregate 10% of the number of Firm SharesSecurities, each non-defaulting Underwriter, acting severally and not jointly, agrees to purchase from the Company that number of Default Securities that bears the same proportion to the total number of Default Securities then being purchased as the number of Firm Shares Securities set forth opposite the name of such Underwriter on Schedule A hereto bears to the aggregate number of Firm Shares Securities set forth opposite the names of the non-defaulting Underwriters; subject, however, to such adjustments to eliminate fractional shares securities as the Representative in its sole discretion shall make.

Underwriter Default. (a) If any Underwriter or Underwriters shall default in its or their obligation to purchase Firm SharesSecurities, and if the Firm Shares Securities with respect to which such default relates (the “Default Securities”) do not (after giving effect to arrangements, if any, made by the Representative pursuant to subsection (b) below) exceed in the aggregate 10% of the number of Firm SharesSecurities, each non-defaulting Underwriter, acting severally and not jointly, agrees to purchase from the Company that number of Default Securities that bears the same proportion to the total number of Default Securities then being purchased as the number of Firm Shares Securities set forth opposite the name of such Underwriter on Schedule Annex A hereto bears to the aggregate number of Firm Shares Securities set forth opposite the names of the non-defaulting Underwriters; subject, however, to such adjustments to eliminate fractional shares as the Representative in its sole discretion shall make.

Underwriter Default. (a) If any Underwriter or Underwriters shall default in its or their obligation to purchase Firm SharesShares hereunder, and if the Firm Shares with respect to which such default relates (the “"Default Securities”Shares") do not (after giving effect to arrangements, if any, made by the Representative pursuant to subsection (b) below) exceed in the aggregate 10% of the number of Firm Shares, each non-defaulting Underwriter, acting severally and not jointly, agrees to purchase from the Company Selling Shareholders that number of Default Securities Shares that bears the same proportion to of the total number of Default Securities Shares then being purchased as the number of Firm Shares set forth opposite the name of such Underwriter on in Schedule A I hereto bears to the aggregate number of Firm Shares set forth opposite the names of the non-defaulting Underwriters; , subject, however, to such adjustments to eliminate fractional shares as the Representative in its sole discretion shall make.

Underwriter Default. (a) If any Underwriter or Underwriters shall default in its or their obligation to purchase Firm SharesShares hereunder, and if the Firm Shares with respect to which such default relates (the “"Default Securities”Shares") do not (after giving effect to arrangements, if any, made by the Representative pursuant to subsection (b) below) exceed in the aggregate 10% of the number of Firm Shares, each non-defaulting Underwriter, acting severally and not jointly, agrees to purchase from the Company that number of Default Securities Shares that bears the same proportion to of the total number of Default Securities Shares then being purchased as the number of Firm Shares set forth opposite the name of such Underwriter on in Schedule A I hereto bears to the aggregate number of Firm Shares set forth opposite the names of the non-defaulting Underwriters; , subject, however, to such adjustments to eliminate fractional shares as the Representative in its sole discretion shall make.

Underwriter Default. (a) If any Underwriter or Underwriters shall default in its or their obligation to purchase Firm SharesUnits hereunder, and if the Firm Shares Units with respect to which such default relates (the “Default SecuritiesUnits”) do not (after giving effect to arrangements, if any, made by the Representative pursuant to subsection (b) below) exceed in the aggregate 10% of the number of Firm SharesUnits, each non-defaulting Underwriter, acting severally and not jointly, agrees to purchase from the Company that number of Default Securities Units that bears the same proportion to of the total number of Default Securities Shares then being purchased as the number of Firm Shares Units set forth opposite the name of such Underwriter on Schedule A hereto bears to the aggregate number of Firm Shares Units set forth opposite the names of the non-defaulting Underwriters; , subject, however, to such adjustments to eliminate fractional shares as the Representative in its sole discretion shall make.

Underwriter Default. (a) If any Underwriter or Underwriters shall default in its or their obligation to purchase Firm SharesShares hereunder, and if the Firm Shares with respect to which such default relates (the “Default SecuritiesShares”) do not (after giving effect to arrangements, if any, made by the Representative Xxxxxx pursuant to subsection (b) below) exceed in the aggregate 10% of the number of Firm Shares, each non-defaulting Underwriter, acting severally and not jointly, agrees to purchase from the Company that number of Default Securities Shares that bears the same proportion to of the total number of Default Securities Shares then being purchased as the number of Firm Shares set forth opposite the name of such Underwriter on Schedule A hereto bears to the aggregate number of Firm Shares set forth opposite the names of the non-defaulting Underwriters; , subject, however, to such adjustments to eliminate fractional shares as the Representative Xxxxxx in its sole discretion shall make.

Underwriter Default. (a) If any Underwriter or Underwriters shall default in its or their obligation to purchase Firm SharesSecurities hereunder, and if the Firm Shares Securities with respect to which such default relates (the “Default Securities”) do not (after giving effect to arrangements, if any, made by the Representative pursuant to subsection (b) below) exceed in the aggregate 10% of the number of Firm SharesSecurities, each non-defaulting Underwriter, acting severally and not jointly, agrees to purchase from the Company that number of Default Securities that bears the same proportion to the total number of Default Securities then being purchased as the number of Firm Shares Securities set forth opposite the name of such Underwriter on Schedule A hereto bears to the aggregate number of Firm Shares Securities set forth opposite the names of the non-defaulting Underwriters; subject, however, to such adjustments to eliminate fractional shares as the Representative in its sole discretion shall make.

Underwriter Default. (a) If any Underwriter or Underwriters shall default in its or their obligation to purchase Firm SharesUnits hereunder, and if the Firm Shares Securities with respect to which such default relates (the “Default Securities”) do not (after giving effect to arrangements, if any, made by the Representative pursuant to subsection (b) below) exceed in the aggregate 10% of the number of Firm SharesUnits, each non-defaulting Underwriter, acting severally and not jointly, agrees to purchase from the Company that number of Default Securities that bears the same proportion to the total number of Default Securities then being purchased as the number of Firm Shares Units set forth opposite the name of such Underwriter on Schedule A hereto bears to the aggregate number of Firm Shares Units set forth opposite the names of the non-defaulting Underwriters; subject, however, to such adjustments to eliminate fractional shares as the Representative in its sole discretion shall make.

Underwriter Default. (a) If any Underwriter or Underwriters shall default in its or their obligation to purchase Firm Shares, and if the Firm Shares with respect to which such default relates (the “Default Securities”) do not (after giving effect to arrangements, if any, made by the Representative pursuant to subsection (b) below) exceed in the aggregate ten percent (10% %) of the number of Firm Shares, each non-defaulting Underwriter, acting severally and not jointly, agrees to purchase from the Company that number of Default Securities that bears the same proportion to the total number of Default Securities then being purchased as the number of Firm Shares set forth opposite the name of such Underwriter on Schedule Annex A hereto bears to the aggregate number of Firm Shares set forth opposite the names of the non-defaulting Underwriters; subject, however, to such adjustments to eliminate fractional shares as the Representative in its sole discretion shall make.