Common use of Default by One or More of the U.S Clause in Contracts

Default by One or More of the U.S. UNDERWRITERS. If one or more of the U.S. Underwriters shall fail at Closing Time to purchase the U.S. Underwritten Securities which it or they are obligated to purchase under the applicable U.S. Terms Agreement (the "DEFAULTED SHARES"), then you shall have the right, within 24 hours thereafter, to make arrangements for one or more of the non-defaulting U.S. Underwriters, or any other U.S. 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; if, however, you shall not have completed such arrangements within such 24-hour period, then:

Default by One or More of the U.S. UNDERWRITERSUnderwriters. If one or more of the U.S. Underwriters shall fail at the Closing Time to purchase the Initial U.S. Underwritten Securities which Shares that it or they are obligated to purchase under the applicable U.S. Terms pursuant to this Agreement (the "DEFAULTED SHARESDefaulted U.S. Shares"), then you shall have the right, within 24 hours thereafter, to make arrangements for 39 38 one or more of the non-defaulting U.S. Underwriters, or any other U.S. Underwriters, to purchase all, but not less than all, of the Defaulted U.S. Shares in such amounts as may be agreed upon and upon the terms herein set forthforth in this Agreement; if, however, you shall have not have completed such arrangements within such 24-hour period, then:

Default by One or More of the U.S. UNDERWRITERSUnderwriters. If one or ----------------------------------------------- more of the U.S. Underwriters shall fail at Closing Time or a Date of Delivery to purchase the U.S. Underwritten Securities which it or they are obligated to purchase under the applicable U.S. Terms this Agreement (the "DEFAULTED SHARESDefaulted Securities"), then you the U.S. Underwriters shall have the right, within 24 hours thereafter, to make arrangements for one or more of the non-defaulting U.S. Underwriters, or any other U.S. Underwritersunderwriters, to purchase all, but not less than all, of the Defaulted Shares Securities in such amounts as may be agreed upon and upon the terms herein set forth; if, however, you the U.S. Underwriters shall not have completed such arrangements within such 24-hour period, then:

Default by One or More of the U.S. UNDERWRITERSUnderwriters. If one or more of the U.S. Underwriters shall fail at Closing Time or a Date of Delivery to purchase the U.S. Underwritten Securities which it or they are obligated to purchase under the applicable this U.S. Terms Purchase Agreement (the "DEFAULTED SHARESDefaulted Securities"), then you the U.S. Underwriters shall have the right, within 24 hours thereafter, to make arrangements for one or more of the non-defaulting U.S. Underwriters, or any other U.S. Underwritersunderwriters, to purchase all, but not less than all, of the Defaulted Shares Securities in such amounts as may be agreed upon and upon the terms herein set forth; if, however, you the U.S. Underwriters shall not have completed such arrangements within such 24-hour period, then: