Common use of Default of One or More of the Several Underwriters Clause in Contracts

Default of One or More of the Several Underwriters. If, on the Closing Date, any one or more of the several Underwriters shall fail or refuse to purchase Units that it or they have agreed to purchase hereunder on such date, and the aggregate number of Units which such defaulting Underwriter or Underwriters agreed but failed or refused to purchase does not exceed 10% of the aggregate number of the Units to be purchased on the Closing Date, the Representative may make arrangements reasonably satisfactory to the Company for the purchase of such Units by other persons, including any of the Underwriters, but if no such arrangements are made by such date, the other Underwriters shall be obligated, severally and not jointly, in the proportions that the number of Units set forth opposite their respective names on Schedule I bears to the aggregate number of Units set forth opposite the names of all such non-defaulting Underwriters, or in such other proportions as may be specified by the Representative with the consent of the non-defaulting Underwriters, to purchase the Units which such defaulting Underwriter or Underwriters agreed but failed or refused to purchase on the Closing Date. If, on the Closing Date, any one or more of the Underwriters shall fail or refuse to purchase Units and the aggregate number of Units with respect to which such default occurs exceeds 10% of the aggregate number of Units to be purchased on such Closing Date, and arrangements satisfactory to the Representative and the Company for the purchase of such Units are not made within 24 hours after such default, this Agreement shall terminate without liability of any party to any other party, except that the provisions of ‎Section 5(a)(vii) and Section 7 shall at all times be effective and shall survive such termination. In any case where such a default does not result in a termination of this Agreement, either the Representative or the Company shall have the right to postpone the Closing Date, but in no event for longer than seven days in order that the required changes, if any, to the Registration Statement and the Final Prospectus or any other documents or arrangements may be effected. As used in this Agreement, the term “Underwriter” shall be deemed to include any person substituted for a defaulting Underwriter under this ‎Section 9. Any action taken under this ‎Section 9 shall not relieve any defaulting Underwriter from liability in respect of any default of such Underwriter under this Agreement.

Default of One or More of the Several Underwriters. If, on the Closing Date, any one or more of the several Underwriters shall fail or refuse to purchase Units Securities that it or they have agreed to purchase hereunder on such date, and the aggregate number of Units Securities which such defaulting Underwriter or Underwriters agreed but failed or refused to purchase does not exceed 10% of the aggregate number of the Units Securities to be purchased on the Closing Datesuch date, the Representative may make arrangements reasonably satisfactory to the Company for the purchase of such Units Securities by other persons, including any of the Underwriters, but if no such arrangements are made by such datethe Closing Date, the other Underwriters shall be obligated, severally and not jointly, in the proportions that the number of Units Securities set forth opposite their respective names on Schedule I A bears to the aggregate number of Units Securities set forth opposite the names of all such non-defaulting Underwriters, or in such other proportions as may be specified by the Representative with the consent of the non-defaulting Underwriters, to purchase the Units Securities which such defaulting Underwriter or Underwriters agreed but failed or refused to purchase on the Closing Datesuch date. If, on the Closing Date, any one or more of the Underwriters shall fail or refuse to purchase Units Securities and the aggregate number of Units Securities with respect to which such default occurs exceeds 10% of the aggregate number of Units Securities to be purchased on such Closing Datedate, and arrangements satisfactory to the Representative and the Company for the purchase of such Units Securities are not made within 24 48 hours after such default, this Agreement shall terminate without liability of any party to any other party, party except that the provisions of ‎Section 5(a)(vii) Section 4, Section 7, Section 9 and Section 7 10 shall at all times be effective and shall survive such termination. In any such case where such a default does not result in a termination of this Agreement, either the Representative or the Company shall have the right to postpone the Closing Date, but in no event for longer than seven days in order that the required changes, if any, to the Registration Statement and the Final Prospectus or any other documents or arrangements may be effected. As used in this Agreement, the term “Underwriter” shall be deemed to include any person substituted for a defaulting Underwriter under this ‎Section 9Section 11. Any action taken under this ‎Section 9 Section 11 shall not relieve any defaulting Underwriter from liability in respect of any default of such Underwriter under this Agreement.

Default of One or More of the Several Underwriters. If, on the First Closing Date or each Subsequent Closing Date, as the case may be, any one or more of the several Underwriters shall fail or refuse to purchase Units Securities that it or they have agreed to purchase hereunder on such date, and the aggregate number of Units Securities which such defaulting Underwriter or Underwriters agreed but failed or refused to purchase does not exceed 10% of the aggregate number of the Units Securities to be purchased on the Closing Date, the Representative may make arrangements reasonably satisfactory to the Company for the purchase of such Units by other persons, including any of the Underwriters, but if no such arrangements are made by such date, the other Underwriters shall be obligated, severally and not jointlyseverally, in the proportions that the number of Units Firm Shares and firm Warrants set forth opposite their respective names on Schedule I A bears to the aggregate number of Units Firm Shares and Firm Warrants set forth opposite the names of all such non-defaulting Underwriters, or in such other proportions as may be specified by the Representative with the consent of the non-defaulting Underwriters, to purchase the Units Securities which such defaulting Underwriter or Underwriters agreed but failed or refused to purchase on the Closing Datesuch date. If, on the First Closing Date or each Subsequent Closing Date, as the case may be, any one or more of the Underwriters shall fail or refuse to purchase Units Securities and the aggregate number of Units Securities with respect to which such default occurs exceeds 10% of the aggregate number of Units Securities to be purchased on such Closing Datedate, and arrangements satisfactory to the Representative and the Company for the purchase of such Units Securities are not made within 24 48 hours after such default, this Agreement shall terminate without liability of any party to any other party, party except that the provisions of ‎Section 5(a)(vii) Section 4, Section 6, Section 8 and Section 7 9 shall at all times be effective and shall survive such termination. In any such case where such a default does not result in a termination of this Agreement, either the Representative or the Company shall have the right to postpone the First Closing Date or each Subsequent Closing Date, as the case may be, but in no event for longer than seven days in order that the required changes, if any, to the Registration Statement and the Final Prospectus or any other documents or arrangements may be effected. As used in this Agreement, the term “Underwriter” shall be deemed to include any person substituted for a defaulting Underwriter under this ‎Section 9. Any action taken under this ‎Section 9 shall not relieve any defaulting Underwriter from liability in respect of any default of such Underwriter under this Agreement.

Default of One or More of the Several Underwriters. If, on the Closing Date, Date any one or more of the several Underwriters shall fail or refuse to purchase Units Securities that it or they have agreed to purchase hereunder on such date, and the aggregate number of Units Securities which such defaulting Underwriter or Underwriters agreed but failed or refused to purchase does not exceed 10% of the aggregate number of the Units Securities to be purchased on the Closing Datesuch date, the Representative Representatives may make arrangements reasonably satisfactory to the Company for the purchase of such Units Securities by other persons, including any of the Underwriters, but if no such arrangements are made by such date, the other Underwriters shall be obligated, severally and not jointly, in the proportions that the number of Units Securities set forth opposite their respective names on Schedule I A bears to the aggregate number of Units Securities set forth opposite the names of all such non-defaulting Underwriters, or in such other proportions as may be specified by the Representative Representatives with the consent of the non-defaulting Underwriters, to purchase the Units Securities which such defaulting Underwriter or Underwriters agreed but failed or refused to purchase on the Closing Datesuch date. If, on the Closing Date, any one or more of the Underwriters shall fail or refuse to purchase Units Securities and the aggregate number of Units Securities with respect to which such default occurs exceeds 10% of the aggregate number of Units Securities to be purchased on such Closing Datedate, and arrangements satisfactory to the Representative Representatives and the Company for the purchase of such Units Securities are not made within 24 48 hours after such default, this Agreement shall terminate without liability of any party to any other party, party except that the provisions of ‎Section 5(a)(vii) Section 4, Section 7, Section 9 and Section 7 10 shall at all times be effective and shall survive such termination. In any such case where such a default does not result in a termination of this Agreement, either the Representative Representatives or the Company shall have the right to postpone the Closing Date, but in no event for longer than seven days in order that the required changes, if any, to the Registration Statement and the Final Prospectus or any other documents or arrangements may be effected. As used in this Agreement, the term “Underwriter” shall be deemed to include any person substituted for a defaulting Underwriter under this ‎Section 9Section 11. Any action taken under this ‎Section 9 Section 11 shall not relieve any defaulting Underwriter from liability in respect of any default of such Underwriter under this Agreement.

Default of One or More of the Several Underwriters. If, on the Closing Date, Date any one or more of the several Underwriters shall fail or refuse to purchase Units Securities that it or they have agreed to purchase hereunder on such date, and the aggregate number of Units Securities which such defaulting Underwriter or Underwriters agreed but failed or refused to purchase does not exceed 10% of the aggregate number of the Units Securities to be purchased on the Closing Datesuch date, the Representative Representatives may make arrangements reasonably satisfactory to the Company for the purchase of such Units Securities by other persons, including any of the Underwriters, but if no such arrangements are made by such date, the other Underwriters shall be obligated, severally and not jointly, in the proportions that the number of Units Securities set forth opposite their respective names on Schedule I A bears to the aggregate number of Units Securities set forth opposite the names of all such non-defaulting Underwriters, or in such other proportions as may be specified by the Representative Representatives with the consent of the non-defaulting Underwriters, to purchase the Units Securities which such defaulting Underwriter or Underwriters agreed but failed or refused to purchase on the Closing Datesuch date. If, on the Closing Date, Date any one or more of the Underwriters shall fail or refuse to purchase Units Securities and the aggregate number of Units Securities with respect to which such default occurs exceeds 10% of the aggregate number of Units Securities to be purchased on such Closing Datedate, and arrangements satisfactory to the Representative Representatives and the Company for the purchase of such Units Securities are not made within 24 48 hours after such default, this Agreement shall terminate without liability of any party to any other party, party except that the provisions of ‎Section 5(a)(vii) 4, ‎Section 7, ‎Section 9 and Section 7 ‎Section 10 shall at all times be effective and shall survive such termination. In any such case where such a default does not result in a termination of this Agreement, either the Representative Representatives or the Company shall have the right to postpone the Closing Date, as the case may be, but in no event for longer than seven days in order that the required changes, if any, to the Registration Statement and the Final Prospectus or any other documents or arrangements may be effected. As used in this Agreement, the term “Underwriter” shall be deemed to include any person substituted for a defaulting Underwriter under this ‎Section 911. Any action taken under this ‎Section 9 11 shall not relieve any defaulting Underwriter from liability in respect of any default of such Underwriter under this Agreement.

Default of One or More of the Several Underwriters. If, on the First Closing Date or the Second Closing Date, as the case may be, any one or more of the several Underwriters shall fail or refuse to purchase Units Common Shares that it or they have agreed to purchase hereunder on such date, and the aggregate number of Units Common Shares which such defaulting Underwriter or Underwriters agreed but failed or refused to purchase does not exceed ten percent (10% %) of the aggregate number of the Units Common Shares to be purchased on the Closing Date, the Representative may make arrangements reasonably satisfactory to the Company for the purchase of such Units by other persons, including any of the Underwriters, but if no such arrangements are made by such date, the other Underwriters shall be obligated, severally and not jointlyseverally, in the proportions that the number of Units Firm Common Shares set forth opposite their respective names on Schedule I A bears to the aggregate number of Units Firm Common Shares set forth opposite the names of all such non-defaulting Underwriters, or in such other proportions as may be specified by the Representative Representatives with the consent of the non-defaulting Underwriters, to purchase the Units Common Shares which such defaulting Underwriter or Underwriters agreed but failed or refused to purchase on the Closing Datesuch date. If, on the First Closing Date or the Second Closing Date, as the case may be, any one or more of the Underwriters shall fail or refuse to purchase Units Common Shares and the aggregate number of Units Common Shares with respect to which such default occurs exceeds ten percent (10% %) of the aggregate number of Units Common Shares to be purchased on such Closing Datedate, and arrangements satisfactory to the Representative Representatives and the Company for the purchase of such Units Common Shares are not made within 24 forty-eight (48) hours after such default, this Agreement shall terminate without liability of any party to any other party, party except that the provisions of ‎Section 5(a)(vii) Section 5, Section 7, Section 9 and Section 7 10 shall at all times be effective and shall survive such termination. In any such case where such a default does not result in a termination of this Agreement, either the Representative Representatives or the Company shall have the right to postpone the First Closing Date or the Second Closing Date, as the case may be, but in no event for longer than seven (7) days in order that the required changes, if any, to the Registration Statement and the Final Prospectus or any other documents or arrangements may be effected. As used in this Agreement, the term “"Underwriter” " shall be deemed to include any person substituted for a defaulting Underwriter under this ‎Section 9Section 11. Any action taken under this ‎Section 9 Section 11 shall not relieve any defaulting Underwriter from liability in respect of any default of such Underwriter under this Agreement.

Default of One or More of the Several Underwriters. If, on the First Closing Date or the Second Closing Date, as the case may be, any one or more of the several Underwriters shall fail or refuse to purchase Units Common Shares that it or they have agreed to purchase hereunder on such date, and the aggregate number of Units Common Shares which such defaulting Underwriter or Underwriters agreed but failed or refused to purchase does not exceed 10% of the aggregate number of the Units Common Shares to be purchased on the Closing Date, the Representative may make arrangements reasonably satisfactory to the Company for the purchase of such Units by other persons, including any of the Underwriters, but if no such arrangements are made by such date, the other Underwriters shall be obligated, severally and not jointlyseverally, in the proportions that the number of Units Firm Common Shares set forth opposite their respective names on Schedule I A bears to the aggregate number of Units Firm Common Shares set forth opposite the names of all such non-defaulting Underwriters, or in such other proportions as may be specified by the Representative Representatives with the consent of the non-defaulting Underwriters, to purchase the Units Common Shares which such defaulting Underwriter or Underwriters agreed but failed or refused to purchase on the Closing Datesuch date. If, on the First Closing Date or the Second Closing Date, as the case may be, any one or more of the Underwriters shall fail or refuse to purchase Units Common Shares and the aggregate number of Units Common Shares with respect to which such default occurs exceeds 10% of the aggregate number of Units Common Shares to be purchased on such Closing Datedate, and arrangements satisfactory to the Representative Representatives and the Company for the purchase of such Units Common Shares are not made within 24 48 hours after such default, this Agreement shall terminate without liability of any party to any other party, party except that the provisions of ‎Section 5(a)(vii) Section 4, Section 6, Section 8, Section 9, and the last sentence of this Section 7 10 shall at all times be effective and shall survive such termination. In any case where such a default does not result in a termination of this Agreement, either the Representative or the Company shall have the right to postpone the Closing Date, but in no event for longer than seven days in order that the required changes, if any, to the Registration Statement and the Final Prospectus or any other documents or arrangements may be effected. As used in this Agreement, the term “Underwriter” shall be deemed to include any person substituted for a defaulting Underwriter under this ‎Section 9. Any action taken under this ‎Section 9 shall not relieve any defaulting Underwriter from liability in respect of any default of such Underwriter under this Agreement.such

Default of One or More of the Several Underwriters. If, on the First Closing Date or the Second Closing Date, as the case may be, any one or more of the several Underwriters shall fail or refuse to purchase Units Common Shares that it or they have agreed to purchase hereunder on such date, and the aggregate number of Units Common Shares which such defaulting Underwriter or Underwriters agreed but failed or refused to purchase does not exceed 10% of the aggregate number of the Units Common Shares to be purchased on the Closing Date, the Representative may make arrangements reasonably satisfactory to the Company for the purchase of such Units by other persons, including any of the Underwriters, but if no such arrangements are made by such date, the other Underwriters shall be obligated, severally and not jointlyseverally, in the proportions that the number of Units Firm Common Shares set forth opposite their respective names on Schedule I A ---------- bears to the aggregate number of Units Firm Common Shares set forth opposite the names of all such non-defaulting Underwriters, or in such other proportions as may be specified by the Representative with the consent of the non-defaulting UnderwritersRepresentative, to purchase the Units Common Shares which such defaulting Underwriter or Underwriters agreed but failed or refused to purchase on the Closing Datesuch date. If, on the First Closing Date or the Second Closing Date, as the case may be, any one or more of the Underwriters shall fail or refuse to purchase Units Common Shares and the aggregate number of Units Common Shares with respect to which such default occurs exceeds 10% of the aggregate number of Units Common Shares to be purchased on such Closing Datedate, and arrangements satisfactory to the Representative non- defaulting Underwriters and the Company for the purchase of such Units Common Shares are not made within 24 48 hours after such default, this Agreement shall terminate without liability of any party (except any defaulting Underwriter as set forth in the following paragraph) to any other party, party except that the provisions of ‎Section 5(a)(vii) Section 4, Section 6, Section 8 and Section 7 9 shall at all times be effective and shall survive such termination. In any such case where such a default does not result in a termination of this Agreement, either the Representative non-defaulting Underwriters or the Company shall have the right to postpone the First Closing Date or the Second Closing Date, as the case may be, but in no event for longer than seven days in order that the required changes, if any, to the Registration Statement and the Final Prospectus or any other documents or arrangements may be effected. As used in this Agreement, the term “"Underwriter” " shall be deemed to include any person substituted for a defaulting Underwriter under this ‎Section 9Section 10. Any action taken under this ‎Section 9 Section 10 shall not relieve any defaulting Underwriter from liability in respect of any default of such Underwriter under this Agreement.

Default of One or More of the Several Underwriters. If, on the Closing Date, Date any one or more of the several Underwriters shall fail or refuse to purchase Units Securities that it or they have agreed to purchase hereunder on such date, and the aggregate number of Units Securities which such defaulting Underwriter or Underwriters agreed but failed or refused to purchase does not exceed 10% of the aggregate number of the Units Securities to be purchased on the Closing Datesuch date, the Representative may make arrangements reasonably satisfactory to the Company for the purchase of such Units Securities by other persons, including any of the Underwriters, but if no such arrangements are made by such date, the other Underwriters shall be obligated, severally and not jointly, in the proportions that the number of Units Securities set forth opposite their respective names on Schedule I A bears to the aggregate number of Units Securities set forth opposite the names of all such non-defaulting Underwriters, or in such other proportions as may be specified by the Representative with the consent of the non-defaulting Underwriters, to purchase the Units Securities which such defaulting Underwriter or Underwriters agreed but failed or refused to purchase on the Closing Datesuch date. If, on the Closing Date, Date any one or more of the Underwriters shall fail or refuse to purchase Units Securities and the aggregate number of Units Securities with respect to which such default occurs exceeds 10% of the aggregate number of Units Securities to be purchased on such Closing Datedate, and arrangements satisfactory to the Representative and the Company for the purchase of such Units Securities are not made within 24 48 hours after such default, this Agreement shall terminate without liability of any party to any other party, party except that the provisions of ‎Section 5(a)(vii) Section 4, Section 7, Section 9 and Section 7 10 shall at all times be effective and shall survive such termination. In any such case where such a default does not result in a termination of this Agreement, either the Representative or the Company shall have the right to postpone the Closing Date, but in no event for longer than seven days in order that the required changes, if any, to the Registration Statement and the Final Prospectus or any other documents or arrangements may be effected. As used in this Agreement, the term “Underwriter” shall be deemed to include any person substituted for a defaulting Underwriter under this ‎Section 9Section 11. Any action taken under this ‎Section 9 Section 11 shall not relieve any defaulting Underwriter from liability in respect of any default of such Underwriter under this Agreement.

Default of One or More of the Several Underwriters. If, on the Closing Date, any one or more of the several Underwriters shall fail or refuse to purchase Units that it or they have agreed to purchase hereunder on such date, and the aggregate number of Units which such defaulting Underwriter or Underwriters agreed but failed or refused to purchase does not exceed 10% of the aggregate number of the Units to be purchased on the Closing Date, the Representative Representatives may make arrangements reasonably satisfactory to the Company for the purchase of such Units by other persons, including any of the Underwriters, but if no such arrangements are made by such date, the other Underwriters shall be obligated, severally and not jointly, in the proportions that the number of Units set forth opposite their respective names on Schedule I bears to the aggregate number of Units set forth opposite the names of all such non-defaulting Underwriters, or in such other proportions as may be specified by the Representative Representatives with the consent of the non-defaulting Underwriters, to purchase the Units which such defaulting Underwriter or Underwriters agreed but failed or refused to purchase on the Closing Date. If, on the Closing Date, any one or more of the Underwriters shall fail or refuse to purchase Units and the aggregate number of Units with respect to which such default occurs exceeds 10% of the aggregate number of Units to be purchased on such Closing Date, and arrangements satisfactory to the Representative Representatives and the Company for the purchase of such Units are not made within 24 hours after such default, this Agreement shall terminate without liability of any party to any other party, except that the provisions of ‎Section Section 5(a)(vii) and Section 7 shall at all times be effective and shall survive such termination. In any case where such a default does not result in a termination of this Agreement, either of the Representative Representatives or the Company shall have the right to postpone the Closing Date, but in no event for longer than seven days in order that the required changes, if any, to the Registration Statement and the Final Prospectus or any other documents or arrangements may be effected. As used in this Agreement, the term “Underwriter” shall be deemed to include any person substituted for a defaulting Underwriter under this ‎Section Section 9. Any action taken under this ‎Section Section 9 shall not relieve any defaulting Underwriter from liability in respect of any default of such Underwriter under this Agreement.

Default of One or More of the Several Underwriters. Default of One or More of the Several Underwriters" . If, on the First Closing Date or the Second Closing Date, as the case may be, any one or more of the several Underwriters shall fail or refuse to purchase Units Shares that it or they have agreed to purchase hereunder on such date, and the aggregate number of Units Shares which such defaulting Underwriter or Underwriters agreed but failed or refused to purchase does not exceed 10% of the aggregate number of the Units Shares to be purchased on the Closing Date, the Representative may make arrangements reasonably satisfactory to the Company for the purchase of such Units by other persons, including any of the Underwriters, but if no such arrangements are made by such date, the other Underwriters shall be obligated, severally and not jointlyseverally, in the proportions that the number of Units Firm Shares set forth opposite their respective names on Schedule I SCHEDULE A bears to the aggregate number of Units Firm Common Shares set forth opposite the names of all such non-defaulting Underwriters, or in such other proportions as may be specified by the Representative Representatives with the consent of the non-defaulting Underwriters, to purchase the Units Shares which such defaulting Underwriter or Underwriters agreed but failed or refused to purchase on the Closing Datesuch date. If, on the First Closing Date or the Second Closing Date, as the case may be, any one or more of the Underwriters shall fail or refuse to purchase Units Shares and the aggregate number of Units Shares with respect to which such default occurs exceeds 10% of the aggregate number of Units Shares to be purchased on such Closing Datedate, and arrangements satisfactory to the Representative Representatives and the Company for the purchase of such Units Shares are not made within 24 48 hours after such default, this Agreement shall terminate without liability of any party to any other party, party except that the provisions of ‎Section 5(a)(vii) Section 4, Section 6, Section 8 and Section 7 9 shall at all times be effective and shall survive such termination. In any such case where such a default does not result in a termination of this Agreement, either the Representative Representatives or the Company shall have the right to postpone the First Closing Date or the Second Closing Date, as the case may be, but in no event for longer than seven days in order that the required changes, if any, to the Registration Statement and the Final Prospectus or any other documents or arrangements may be effected. As used in this Agreement, the term “"Underwriter” " shall be deemed to include any person substituted for a defaulting Underwriter under this ‎Section 9Section 10. Any action taken under this ‎Section 9 Section 10 shall not relieve any defaulting Underwriter from liability in respect of any default of such Underwriter under this Agreement.

Default of One or More of the Several Underwriters. If, on the Closing Date, any one or more of the several Underwriters shall fail or refuse to purchase Units that it or they have agreed to purchase hereunder on such date, and the aggregate number of Units which such defaulting Underwriter or Underwriters agreed but failed or refused to purchase does not exceed 10% of the aggregate number of the Units to be purchased on the Closing Datesuch date, the Representative may make arrangements reasonably satisfactory to the Company for the purchase of such Units by other persons, including any of the Underwriters, but if no such arrangements are made by such date, the other Underwriters shall be obligated, severally and not jointly, in the proportions that the number of Firm Units set forth opposite their respective names on Schedule I bears to the aggregate number of Firm Units set forth opposite the names of all such non-defaulting Underwriters, or in such other proportions as may be specified by the Representative with the consent of the non-defaulting Underwriters, to purchase the Units which such defaulting Underwriter or Underwriters agreed but failed or refused to purchase on the Closing Datesuch date. If, on the Closing Date, any one or more of the Underwriters shall fail or refuse to purchase Units and the aggregate number of Units with respect to which such default occurs exceeds 10% of the aggregate number of Units to be purchased on such Closing Datedate, and arrangements satisfactory to the Representative and the Company for the purchase of such Units are not made within 24 hours after such default, this Agreement (if the default relates to the Firm Units) or the obligation to purchase Units on the Closing Date (if the default relates to the Additional Units) shall terminate without liability of any party to any other party, except that the provisions of ‎Section Sections 5(a)(vii) ), 7, and Section 7 12 shall at all times be effective and shall survive such termination. In any case where such a default does not result in a termination of this AgreementAgreement or the obligation of the Underwriters to purchase Units on the Closing Date, either the Representative or the Company shall have the right to postpone the Closing Date, but in no event for longer than seven days in order that the required changes, if any, to the Registration Statement and the Final Prospectus Prospectuses or any other documents or arrangements may be effected. As used in this Agreement, the term “Underwriter” shall be deemed to include any person substituted for a defaulting Underwriter under this ‎Section 9Section 8. Any action taken under this ‎Section 9 Section 8 shall not relieve any defaulting Underwriter from liability in respect of any default of such Underwriter under this Agreement.