Default by One of the Underwriters. (a) If one of the Underwriters shall fail at the Closing Date to purchase the Notes that it is obliged to purchase pursuant to this Agreement (the “Defaulted Notes”), the Company and the Bank will have the option to either (i) reduce the size of the offering by the number of Defaulted Notes, (ii) proceed with the full offering, a portion of which will not be underwritten or (iii) terminate this Agreement and withdraw the offering of the Notes, without any liability on the part of the Company or the Bank.
Appears in 4 contracts
Samples: Underwriting Agreement (Banco Santander, S.A.), Santander Issuances, S.A. Unipersonal, Santander US Debt, S.A. Unipersonal
