Common use of Default by the Selling Shareholder Clause in Contracts

Default by the Selling Shareholder. If the Selling Shareholder shall fail at Closing Time to sell and deliver the number of Shares which the Selling Shareholder is obligated to sell hereunder, then the Underwriter may, by notice to the Company, terminate this Agreement without any liability on the fault of any non-defaulting party, except that the provisions of Sections 1, 4, 6, 7 and 8 shall remain in full force and effect. No action taken pursuant to this Section 10 shall relieve the Selling Shareholder from liability, if any, in respect of such default.

Default by the Selling Shareholder. If the Selling Shareholder shall fail at the Closing Time to sell and deliver the number of Shares Securities which the Selling Shareholder is obligated to sell hereunder, hereunder then the Underwriter may, at its option, by notice to the CompanyCompany and the Selling Shareholder, terminate this Agreement without any liability on the fault of any non-defaulting party, party except that the provisions of Sections 1, 4, 6, 7 and 8 shall remain in full force and effect. No action taken pursuant to this Section 10 shall relieve the Selling Shareholder so defaulting from liability, if any, in respect of such default.

Default by the Selling Shareholder. If the Selling Shareholder shall fail at Closing Time to sell and deliver the number of Shares Securities which the Selling Shareholder is obligated to sell hereunder, then the Underwriter Underwriters may, at option of the Representative, by notice from the Representative to the Company, terminate this Agreement without any liability on the fault of any non-defaulting party, party except that the provisions of Sections 1, 4, 6, 7 and 8 shall remain in full force and effect. No action taken pursuant to this Section 10 9 shall relieve the Selling Shareholder so defaulting from liability, if any, in respect of such default.

Default by the Selling Shareholder. If the Selling Shareholder shall fail at the Closing Time to sell and deliver the number of Shares which the Selling Shareholder Securities that it is obligated to sell hereunder, then the Underwriter may, by notice to the Company, terminate this Agreement shall terminate without any liability on the fault part of any non-defaulting party; provided, except however, that the provisions of Sections 1, 4, 6, 7 7, 8, 12, 13, 14, 15, 16 and 8 18 shall remain in full force and effect. No action taken pursuant to this Section 10 11 shall relieve the Selling Shareholder from liability, if any, in respect of such default.