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

Default of One or More of the Several Underwriters. (a) If any Underwriter shall default in its obligation to purchase the Shares which it has agreed to purchase hereunder at a Time of Delivery, you may in your discretion arrange for you or another party or other parties to purchase such Shares on the terms contained herein. If within thirty-six hours after such default by any Underwriter you do not arrange for the purchase of such Shares, then the Company shall be entitled to a further period of thirty-six hours within which to procure another party or other parties satisfactory to you to purchase such Shares on such terms. In the event that, within the respective prescribed periods, you notify the Company that you have so arranged for the purchase of such Shares, or the Company notifies you that it has so arranged for the purchase of such Shares, you or the Company shall have the right to postpone such Time of Delivery for a period of not more than seven days in order to effect whatever changes may thereby be made necessary in the Registration Statement or the Prospectus, or in any other documents or arrangements, and the Company agrees to file promptly any amendments to the Registration Statement or the Prospectus which in your opinion may thereby be made necessary. The term “Underwriter” as used in this Agreement shall include any person substituted under this Section with like effect as if such person had originally been a party to this Agreement with respect to such Shares.

Default of One or More of the Several Underwriters. (a) If any Underwriter shall default in its obligation to purchase the Shares Notes which it has agreed to purchase hereunder at a Time of Deliveryon the Closing Date, you the Representative may in your its discretion arrange for you it or another party or other parties to purchase such Shares Notes on the terms contained herein. If within thirty-six hours after such default by any Underwriter you do the Representative does not arrange for the purchase of such SharesNotes, then the Company shall be entitled to a further period of thirty-six 36 hours within which to procure another party or other parties reasonably satisfactory to you the Representative to purchase such Shares Notes on such terms. In the event that, within the respective prescribed periods, you notify the Representative notifies the Company that you have so arranged for the purchase of such Shares, or the Company notifies you that it has so arranged for the purchase of such SharesNotes, you or the Company notifies the Representative that it has so arranged for the purchase of such Notes, the Representative or the Company shall have the right to postpone such Time of Delivery the Closing Date for a period of not more than seven days days, in order to effect whatever changes may thereby be made necessary in the Registration Statement or the Prospectus, or in any other documents or arrangements, and the Company agrees to file promptly any amendments to the Registration Statement or the Prospectus which in your the Representative’s opinion may thereby be made necessary. The term “Underwriter” as used in this Agreement shall include any person substituted under this Section with like effect as if such person had originally been a party to this Agreement with respect to such SharesNotes.

Default of One or More of the Several Underwriters. (a) If any Underwriter one or more Underwriters shall default in its obligation to purchase the Shares Securities which it has agreed to purchase hereunder at a Time of Deliveryhereunder, you may in your discretion arrange for you or another party or other parties to purchase such Shares Securities on the terms contained herein. If within thirty-six (36) hours after such default by any Underwriter you do not arrange for the purchase of such SharesSecurities, then the Company shall be entitled to a further period of thirty-six (36) hours within which to procure another party or other parties satisfactory to you to purchase such Shares Securities on such terms. In the event that, within the respective prescribed periods, you notify the Company that you have so arranged for the purchase of such SharesSecurities, or the Company notifies you that it has so arranged for the purchase of such SharesSecurities, you or the Company shall have the right to postpone such Time of Delivery the Closing Date for a period of not more than seven days (7) days, in order to effect whatever changes may thereby be made necessary in the Registration Statement or the ProspectusProspectus Supplement, or in any other documents or arrangements, and the Company agrees to file prepare promptly any amendments to the Registration Statement or the Prospectus Supplement which in your opinion may thereby be made necessary. The term “Underwriter” as used in this Agreement shall include any person substituted under this Section with like effect as if such person had originally been a party to this Agreement with respect to such Shares.Securities;