Underwriter Default. If any of the Underwriters fails to purchase its applicable percentage of the aggregate amount of Units on the Closing Date, the other Underwriters shall have the right, but shall not be obligated, to purchase the Units which would otherwise have been purchased by the Underwriter which fails to purchase. Nothing in this section 8 shall oblige the Company to sell to the Underwriters less than all of the aggregate amount of the Units or shall relieve an Underwriter in default hereunder from liability to the Company.
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