Default by the Underwriter. If the Underwriter shall fail to purchase and pay for any of the Notes agreed to be purchased by the Underwriter hereunder, then this Agreement will terminate without liability to the Company. Nothing contained in this Agreement shall relieve the Underwriter of its liability, if any, to the Company for damages occasioned by its default hereunder.
Default by the Underwriter. 6.1 [Reserved]
Default by the Underwriter. If the Underwriter shall fail at the Closing Time or a Date of Delivery to purchase the Securities which it is obligated to purchase under this Agreement (the “Defaulted Securities”), then this agreement shall terminate without any liability on the part of any non-defaulting party; provided, however, that the provisions of Sections 6 and 7 shall remain in full force and affect. No action taken pursuant to this section shall relieve the Underwriter from liability if any, in respect of such default.
Default by the Underwriter. If the Underwriter shall fail at the Closing Date to purchase the Shares which it is obligated to purchase under this Agreement (the "Defaulted Shares"), the Underwriter shall have the right, within 24 hours thereafter, to make arrangements for 27 any other underwriters to purchase all, but not less than all, of the Defaulted Shares in such amounts as may be agreed upon and upon the terms herein set forth. No action taken pursuant to this Section shall relieve the Underwriter from liability in respect of its default. In the event of any such default which does not result in a termination of this Agreement, either the Underwriter or the Company shall have the right to postpone the Closing Date for a period not exceeding seven days in order to effect any required changes in the Registration Statement or Prospectus or in any other documents or arrangements. As used herein, the term "Underwriter" includes any person substituted for an Underwriter under this Section 10.
Default by the Underwriter. (a) If any Underwriter shall default in its obligation to purchase the Notes which it has agreed to purchase hereunder, you may in your discretion arrange for you or another party or other parties to purchase such Notes 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 Notes, then the Seller 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 Notes on such terms. In the event that, within the respective prescribed periods, you notify the Seller that you have so arranged for the purchase of such Notes, or the Seller notifies you that it has so arranged for the purchase of such Notes, you or the Seller shall have the right to postpone the Closing Date 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 Seller 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 Notes.
Default by the Underwriter. (a) If any Underwriter or Underwriters shall default in its or their obligations to purchase any Security on the Closing Date and the aggregate number of the Security which such defaulting Underwriter or Underwriters agreed but failed to purchase does not exceed ten percent (10%) of the total number of such Security to be purchased by all Underwriters on such Closing Date, the other Underwriters shall be obligated severally, in proportion to their respective commitments hereunder, to purchase such Security which such defaulting Underwriter or Underwriters agreed but failed to purchase on such Closing Date. If any Underwriter or Underwriters shall so default and the aggregate number of the Security with respect to which such default or defaults occur is more than ten percent (10%) of the total number of such Security to be purchased by all Underwriters on such Closing Date and arrangements satisfactory to the remaining Underwriters and the Company for the purchase of such Security by other persons are not made within forty-eight (48) hours after such default, this Agreement shall terminate.
Default by the Underwriter. If the Underwriter shall fail to purchase and pay for any of the Securities agreed to be purchased by such Underwriter, such failure to purchase shall constitute a default in the performance of its or their obligations under this Agreement. If within one Business Day after such default relating to more than 10% of the Underwritten Securities the Underwriter does not arrange for the purchase of such Underwritten Securities, then the Company shall be entitled to a further period of two Business Days within which to procure another party or parties reasonably satisfactory to the Underwriter to purchase said Underwritten Securities. In the event that neither the Underwriter nor the Company purchase or arrange for the purchase of all of the Underwritten Securities to which a default relates as provided in this Section 9, this Agreement will terminate without liability to any nondefaulting party. In the event of a default by the Underwriter as set forth in this Section 9, the Closing Date shall be postponed for such period, not exceeding five Business Days, in order that the required changes in the Registration Statement and the Prospectus or in any other documents or arrangements may be effected. Nothing contained in this Agreement shall relieve the defaulting Underwriter of its liability, if any, to the Company for damages occasioned by its default hereunder.
Default by the Underwriter. (a) If any Underwriter or Underwriters shall default in its or their obligations to purchase Units, Option Shares and/or Option Warrants hereunder on the Closing Date or any Option Closing Date and the aggregate number of Units, Option Shares and/or Option Warrants which such defaulting Underwriter or Underwriters agreed but failed to purchase does not exceed ten percent (10%) of the total number of the Units, Option Shares and/or Option Warrants to be purchased by all Underwriters on such Closing Date or Option Closing Date, the other Underwriters shall be obligated severally, in proportion to their respective commitments hereunder, to purchase the Units, Option Shares and/or Option Warrants which such defaulting Underwriter or Underwriters agreed but failed to purchase on such Closing Date or Option Closing Date. If any Underwriter or Underwriters shall so default and the aggregate number of Units, Option Shares and/or Option Warrants with respect to which such default or defaults occur is more than ten percent (10%) of the total number of Units, Option Shares and/or Option Warrants to be purchased by all Underwriters on such Closing Date or Option Closing Date and arrangements satisfactory to the remaining Underwriters and the Company for the purchase of such Units, Option Shares and/or Option Warrants by other persons are not made within forty-eight (48) hours after such default, this Agreement shall terminate.
Default by the Underwriter. If the Underwriter shall fail at the Closing Date or an Option Closing Date to purchase the Securities which it is obligated to purchase under this Agreement, the obligation of the Underwriter to purchase and of the Company to sell the Securities shall terminate. No action taken pursuant to this Section 10 shall relieve the Underwriter from liability in respect of its default.
Default by the Underwriter. (a) If any Underwriter or Underwriters shall default in its or their obligations to purchase any Security on the Closing Date or any Option Closing Date and the aggregate number of the Security which such defaulting Underwriter or Underwriters agreed but failed to purchase does not exceed ten percent (10%) of the total number of such Security to be purchased by all Underwriters on such Closing Date or Option Closing Date, the other Underwriters shall be obligated severally, in proportion to their respective commitments hereunder, to purchase such Security which such defaulting Underwriter or Underwriters agreed but failed to purchase on such Closing Date or Option Closing Date. If any Underwriter or Underwriters shall so default and the aggregate number of the Security with respect to which such default or defaults occur is more than ten percent (10%) of the total number of such Security to be purchased by all Underwriters on such Closing Date or Option Closing Date and arrangements satisfactory to the remaining Underwriters and the Company for the purchase of such Security by other persons are not made within forty-eight (48) hours after such default, this Agreement shall terminate.
