Common use of Default by One or More of the Initial Purchasers Clause in Contracts

Default by One or More of the Initial Purchasers. If one of the Initial Purchasers shall fail at the Closing Time to purchase the Securities which it is obligated to purchase under this Agreement (the "Defaulted Securities"), the non-defaulting Initial Purchaser shall have the right, within 24 hours thereafter, to make arrangements for itself, or any other Initial Purchasers, to purchase all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; if, however, the non-defaulting Initial Purchaser shall not have completed such arrangements within such 24-hour period, then this Agreement shall terminate without liability on the part of any non-defaulting Initial Purchaser. No action taken pursuant to this Section shall relieve any defaulting Initial Purchaser 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 non-defaulting Initial Purchaser or the Company shall have the right to postpone the Closing Time for a period not exceeding seven days in order to effect any required changes in the Offering Memorandum or in any other documents or arrangements. As used herein, the term "Initial Purchaser" includes any person substituted for an Initial Purchaser under this Section 11.

Default by One or More of the Initial Purchasers. If one or more of the Initial Purchasers shall fail at the Closing Time to purchase the Securities which it is or they are obligated to purchase under this Agreement (the "Defaulted Securities"), the non-defaulting Initial Purchaser Purchasers shall have the right, within 24 hours thereafter, to make arrangements for itselfone or more of the non-defaulting Initial Purchasers, or any other Initial Purchasers, to purchase all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; if, however, the non-defaulting Initial Purchaser Purchasers shall not have completed such arrangements within such 24-hour period, then this Agreement shall terminate without liability on the part of any non-defaulting Initial Purchaser. No action taken pursuant to this Section shall relieve any defaulting Initial Purchaser 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 non-defaulting Initial Purchaser Purchasers or the Company shall have the right to postpone the Closing Time for a period not exceeding seven days in order to effect any required changes in the Offering Memorandum or in any other documents or arrangements. As used herein, the term "Initial Purchaser" includes any person substituted for an Initial Purchaser under this Section 11.

Default by One or More of the Initial Purchasers. If one or more of the Initial Purchasers shall fail at the Closing Time to purchase the Securities which it is or they are obligated to purchase under this Agreement (the "Defaulted Securities"), the non-defaulting Initial Purchaser Representative shall have the right, but not the obligation, within 24 hours thereafter, to make arrangements for itselfone or more of the non-defaulting Initial Purchasers, or any other Initial Purchasers, to purchase all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; ifprovided, however, that if the non-defaulting Initial Purchaser Representative shall not have completed such arrangements within such 24-hour period, then this Agreement shall terminate without liability on the part of any non-defaulting Initial Purchaser. No action taken pursuant to this Section shall relieve any defaulting Initial Purchaser 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 non-defaulting Initial Purchaser Representative or the Company shall have the right to postpone the Closing Time for a period not exceeding seven days in order to effect any required changes in the Offering Memorandum or in any other documents or arrangementsarrangement. As used herein, the term "Initial Purchaser" includes any person substituted for an Initial Purchaser under this Section 11.

Default by One or More of the Initial Purchasers. If one or more of the Initial Purchasers shall fail fail, at the Closing Time Time, to purchase the Securities which it is or they are obligated to purchase under this Agreement (the "Defaulted SecuritiesDEFAULTED SECURITIES"), the non-defaulting Initial Purchaser TD Securities shall have the right, but not the obligation, within 24 hours thereafter, to make arrangements for itself, one or any other more non-defaulting Initial Purchasers, to purchase purchase, each severally and not jointly, all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; if, however, the non-defaulting Initial Purchaser TD Securities shall not have completed such arrangements within such 24-hour period, then this Agreement shall terminate without liability on the part of any non-defaulting Initial Purchaser. No action taken pursuant to this Section shall relieve any defaulting Initial Purchaser from liability in respect of its default. In the event of any such default which that does not result in a termination of this Agreement, either the non-defaulting Initial Purchaser TD Securities or the Company Issuer shall have the right to postpone the Closing Time for a period not exceeding seven (7) days in order to effect any required changes in the Offering Memorandum or in any other documents or arrangements. As used herein, the term "Initial Purchaser" includes any person substituted for an Initial Purchaser under this Section 11.

Default by One or More of the Initial Purchasers. (a) If one of the any Initial Purchasers Purchaser shall fail at the Closing Time default in its obligation to purchase the Securities which it is obligated has agreed to purchase under this Agreement (hereunder, you may in your discretion arrange for you or another party or other parties to purchase such Securities on the "Defaulted Securities"), the nonterms contained herein. If within thirty-defaulting six hours after such default by any Initial Purchaser you do not arrange for the purchase of such Securities, then the Company shall have the right, be entitled to a further period of thirty-six hours within 24 hours thereafter, which to make arrangements for itself, procure another party or any other Initial Purchasers, parties satisfactory to you to purchase all, but not less than all, of the Defaulted such Securities in on such amounts as may be agreed upon and upon the terms herein set forth; if, however, the non-defaulting Initial Purchaser shall not have completed such arrangements within such 24-hour period, then this Agreement shall terminate without liability on the part of any non-defaulting Initial Purchaser. No action taken pursuant to this Section shall relieve any defaulting Initial Purchaser from liability in respect of its defaultterms. In the event that, within the respective prescribed periods, you notify the Company that you have so arranged for the purchase of any such default which does not result in a termination Securities, or the Company notifies you that it has so arranged for the purchase of this Agreementsuch Securities, either the non-defaulting Initial Purchaser you or the Company shall have the right to postpone the a Closing Time for a period of not exceeding more than seven days days, in order to effect any required whatever changes may thereby be made necessary in the Offering Memorandum Circular, or in any other documents or arrangements, and the Company agrees to prepare promptly any amendments to the Offering Circular which in your opinion may thereby be made necessary. As used herein, the The term "“Initial Purchaser" includes ” as used in this Agreement shall include any person substituted for an Initial Purchaser under this Section 11with like effect as if such person had originally been a party to this Agreement with respect to such Securities.

Default by One or More of the Initial Purchasers. If one of the Initial Purchasers shall fail at the Closing Time or a Date of Delivery to purchase the Securities Shares which it is obligated to purchase under this Agreement (the "Defaulted SecuritiesShares"), the non-defaulting other Initial Purchaser shall have the right, but not the obligation, within 24 hours thereafter, to make arrangements arrangements, for itselfthe non- defaulting Initial Purchaser, or any other Initial Purchasers, to purchase all, but not less than all, of the Defaulted Securities Shares in such amounts as may be agreed upon and upon the terms herein set forth; if, however, the non-defaulting other Initial Purchaser shall not have completed such arrangements within such 24-hour period, then this Agreement shall terminate without liability on the part of any non-the non- defaulting Initial Purchaser. No action taken pursuant to this Section shall relieve any defaulting Initial Purchaser 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 non-defaulting Initial Purchaser or the Company shall have the right to postpone the Closing Time or the relevant Date of Delivery, as the case may be, for a period not exceeding seven days in order to effect any required changes in the Offering Memorandum or in any other documents or arrangements. As used herein, the term "Initial Purchaser" includes any person substituted for an Initial Purchaser under this Section 11arrangement.

Default by One or More of the Initial Purchasers. If one or more of the Initial Purchasers shall fail at the Closing Time to purchase the Securities Notes which it is or they are obligated to purchase under this Purchase Agreement (the "Defaulted SecuritiesDEFAULTED SECURITIES"), the non-defaulting Initial Purchaser Representative(s) shall have the right, but not the obligation, within 24 36 hours thereafter, to make arrangements for itselfone or more of the non-defaulting Initial Purchasers, or any other Initial PurchasersPurchaser(s), to purchase purchase, each severally and not jointly, all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; if, however, the non-defaulting Initial Purchaser Representatives shall not have completed such arrangements within such 2436-hour period, then this Purchase Agreement shall terminate without liability on the part of any non-defaulting Initial Purchaser. No action taken pursuant to this Section shall relieve any defaulting Initial Purchaser from liability in respect of its default. In the event of any such default which does not result in a termination of this Purchase Agreement, either the non-defaulting Initial Purchaser Representatives or the Company shall have the right to postpone the Closing Time for a period not exceeding seven days in order to effect any required changes in the Offering Memorandum Circular or in any other documents or arrangements. As used herein, and the term "Initial Purchaser" includes Company agrees to prepare promptly any person substituted for an Initial Purchaser under this Section 11amendments to the Offering Circular which in the opinion of the Representatives may thereby be necessary.

Default by One or More of the Initial Purchasers. If one or more of the Initial Purchasers shall fail at the Closing Time to purchase the Securities which it is or they are obligated to purchase under this Agreement (the "Defaulted Securities"), the non-defaulting Initial Purchaser Purchasers shall have the right, within 24 hours thereafter, to make arrangements for itselfone or more of the non-defaulting Initial Purchasers, or any other Initial Purchasers, to purchase all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; if, however, the non-defaulting Initial Purchaser Purchasers shall not have completed such arrangements within such 24-hour period, then this Agreement shall terminate without liability on the part of any non-defaulting Initial Purchaser. No action taken pursuant to this Section shall relieve any defaulting Initial Purchaser Purchases 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 non-defaulting Initial Purchaser Purchasers or the Company shall have the right to postpone the Closing Time for a period not exceeding seven days in order to effect any required changes in the Offering Memorandum or in any other documents or arrangements. As used herein, the term "Initial Purchaser" includes any person substituted for an Initial Purchaser under this Section 11.

Default by One or More of the Initial Purchasers. If one of the Initial Purchasers shall fail at the Closing Time to purchase the Securities which it is obligated to purchase under this Agreement (the "Defaulted Securities"), the non-defaulting Initial Purchaser Xxxxxxx Xxxxx shall have the right, within 24 hours thereafter, to make arrangements for itselfthe non-defaulting Initial Purchaser, or any other Initial PurchasersPurchaser, to purchase all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; if, however, the non-defaulting Initial Purchaser Xxxxxxx Xxxxx shall not have completed such arrangements within such 24-hour period, then this Agreement shall terminate without liability on the part of any the non-defaulting Initial Purchaser. No action taken pursuant to this Section 11 shall relieve any defaulting Initial Purchaser 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 non-defaulting Initial Purchaser Xxxxxxx Xxxxx or the Company shall have the right to postpone the Closing Time for a period not exceeding seven days in order to effect any required changes in the Offering Memorandum or in any other documents or arrangements. As used herein, the term "Initial Purchaser" includes any person substituted for an Initial Purchaser under this Section 11.