Common use of Default by the Underwriters Clause in Contracts

Default by the Underwriters. (a) If any Underwriter or Underwriters shall default in their obligations to purchase the Common Shares which they have agreed to purchase hereunder, the Representatives may in their discretion arrange for the purchase of such Common Shares by themselves or another party or other parties on the terms contained herein. If within thirty-six hours after such default by any Underwriter, the Representatives do not arrange for the purchase of such Common Shares, then the Company shall be entitled to a further period of thirty-six hours within which to procure another party or other parties reasonably satisfactory to the Representatives to purchase such Common Shares on such terms. In the event that, within the respective prescribed periods, the Representatives notify the Company that they have so arranged for the purchase of such Common Shares, or the Company notifies the Representatives that it has so arranged for the purchase of such Common Shares, the Representatives or the Company 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 Company agrees to file promptly any amendments to the Registration Statement or the Prospectus which in the opinion of the Representatives 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 Common Shares. The foregoing shall not relieve any defaulting Underwriter from liability for its default.

Default by the Underwriters. (a) If any Underwriter or Underwriters shall default in their obligations to purchase the Common Shares Preferred Stock which they have agreed to purchase hereunder, the Representatives may in their discretion arrange for the purchase of such Common Shares Preferred Stock by themselves or another party or other parties on the terms contained herein. If within thirty-six hours after such default by any Underwriter, the Representatives do not arrange for the purchase of such Common SharesPreferred Stock, then the Company shall be entitled to a further period of thirty-six hours within which to procure another party or other parties reasonably satisfactory to the Representatives to purchase such Common Shares Preferred Stock on such terms. In the event that, within the respective prescribed periods, the Representatives notify the Company that they have has so arranged for the purchase of such Common SharesPreferred Stock, or the Company notifies the Representatives that it has so arranged for the purchase of such Common SharesPreferred Stock, the Representatives or the Company 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 Company agrees to file promptly any amendments to the Registration Statement or the Prospectus which in the opinion of the Representatives 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 Common Shares. The foregoing shall not relieve any defaulting Underwriter from liability for its default."

Default by the Underwriters. (a) If any Underwriter or Underwriters shall default in their obligations to purchase the Common Shares which they have agreed to purchase hereunder, the Representatives may in their discretion arrange for the purchase of such Common Shares by themselves or another party or other parties on the terms contained herein. If within thirty-six hours after such default by any Underwriter, the Representatives do not arrange for the purchase of such Common Shares, then the Company shall be entitled to a further period of thirty-six hours within which to procure another party or other parties reasonably satisfactory to the Representatives to purchase such Common Shares on such terms. In the event that, within the respective prescribed periods, the Representatives notify the Company that they have so arranged for the purchase of such Common Shares, or the Company notifies the Representatives that it has so arranged for the purchase of such Common Shares, the Representatives or the Company 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 Company agrees to file promptly any amendments to the Registration Statement or the Prospectus which in the opinion of the Representatives 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 Common Shares. The foregoing shall not relieve any defaulting Underwriter from liability for its default."

Default by the Underwriters. (a) If any Underwriter or Underwriters shall default in their obligations to purchase the Common Shares Trust Preferred Securities, which they have agreed to purchase hereunder, the Representatives Representative may in their its discretion arrange for the purchase of such Common Shares by themselves it or another party or other parties to purchase such Trust Preferred Securities on the terms contained herein. If within thirty-six hours after such default by any Underwriter, the Representatives do Representative does not arrange for the purchase of such Common SharesTrust Preferred Securities, then the Company and the Trust shall be entitled to a further period of thirty-six hours within which to procure another party or other parties reasonably satisfactory to the Representatives Representative to purchase such Common Shares Trust Preferred Securities on such terms. In the event that, within the respective prescribed periods, the Representatives Representative notifies the Company and the Trust that it has so arranged for the purchase of such Trust Preferred Securities, or the Company and the Trust notify the Company Representative that they have so arranged for the purchase of such Common SharesTrust Preferred Securities, the Representative or the Company notifies and the Representatives that it has so arranged for the purchase of such Common Shares, the Representatives or the Company Trust 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 Company agrees and the Trust agree to file promptly any amendments to the Registration Statement or the Prospectus which in the opinion of the Representatives Representative 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 Common Shares. The foregoing shall not relieve any defaulting Underwriter from liability for its default."

Default by the Underwriters. (a) If any Underwriter or Underwriters shall default in their obligations to purchase the Common Shares Preferred Stock which they have agreed to purchase hereunder, the Representatives Representative may in their its discretion arrange for the purchase of such Common Shares Preferred Stock by themselves itself or another party or other parties on the terms contained herein. If within thirty-six 36 hours after such default by any Underwriter, the Representatives do Representative does not arrange for the purchase of such Common SharesPreferred Stock, then the Company shall be entitled to a further period of thirty-six 36 hours within which to procure another party or other parties reasonably satisfactory to the Representatives Representative to purchase such Common Shares Preferred Stock on such terms. In the event that, within the respective prescribed periods, the Representatives notify Representative notifies the Company that they have so arranged for the purchase of such Common Shares, or the Company notifies the Representatives that it has so arranged for the purchase of such Common SharesPreferred Stock, or the Company notifies the Representative that it has so arranged for the purchase of such Preferred Stock, the Representatives 24 Representative or the Company 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 Final Prospectus, or in any other documents or arrangements, and the Company agrees to file promptly any amendments to the Registration Statement or the Final Prospectus which in the opinion of the Representatives Representative may thereby be made necessary. The term “Underwriter” as used in this Agreement shall include any person substituted under this Section 10(a) with like effect as if such person had originally been a party to this Agreement with respect to such Common SharesPreferred Stock. The foregoing shall not relieve any defaulting Underwriter from liability for its default.

Default by the Underwriters. (a) If any Underwriter or Underwriters shall default in their obligations its obligation to purchase the Common Shares Trust Preferred Securities which they have it has agreed to purchase hereunder, the Representatives Representative may in their its discretion arrange for the purchase of such Common Shares by themselves it or another party or other parties to purchase such Trust Preferred Securities on the terms contained herein. If within thirty-six hours after such default by any Underwriter, the Representatives do Representative does not arrange for the purchase of such Common SharesTrust Preferred Securities, then the Company and the Trust shall be entitled to a further period of thirty-six hours within which to procure another party or other parties reasonably satisfactory to the Representatives Representative to purchase such Common Shares Trust Preferred Securities on such terms. In the event that, within the respective prescribed periods, the Representatives notify Representative notifies the Company that they have so arranged for and the purchase of such Common Shares, or the Company notifies the Representatives Trust that it has so arranged for the purchase of such Common SharesTrust Preferred Securities, the Representatives or the Company and the Trust notify the Representative that it has so arranged for the purchase of such Trust Preferred Securities, the Representative or the Company and the Trust 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 Company agrees and the Trust agree to file promptly any amendments to the Registration Statement or the Prospectus which in the opinion of the Representatives Representative 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 Common Shares. The foregoing shall not relieve any defaulting Underwriter from liability for its default."

Default by the Underwriters. (a) If If, on the Closing Date any one or more of the Underwriters shall fail or refuse to purchase Shares that it has or they have agreed to purchase hereunder on such date, and the aggregate number of Shares which such defaulting Underwriter or Underwriters agreed but failed or refused to purchase is not more than one-tenth of the aggregate number of the Shares to be purchased on such date, the other Underwriters shall be obligated severally in the proportions that the number of Shares set forth opposite their respective names in Schedule C bears to the aggregate number of Shares set forth opposite the names of all such non-defaulting Underwriters, or in such other proportions as you may specify, to purchase the Shares which such defaulting Underwriter or Underwriters agreed but failed or refused to purchase on such date; provided that in no event shall the number of Shares that any Underwriter has agreed to purchase pursuant to this Agreement be increased pursuant to this Section 13 by an amount in excess of one-ninth of such number of Shares without the written consent of such Underwriter. If, on the Closing Date, any Underwriter or Underwriters shall default in their obligations fail or refuse to purchase Shares and the Common aggregate number of Shares with respect to which they have agreed such default occurs is more than one-tenth of the aggregate number of Shares to purchase hereunderbe purchased on such date, and arrangements satisfactory to you, the Representatives may in their discretion arrange Company and the Selling Securityholders for the purchase of such Common Shares by themselves or another party or other parties on the terms contained herein. If are not made within thirty-six 36 hours after such default by default, this Agreement shall terminate without liability on the part of any non-defaulting Underwriter, the Representatives do not arrange for the purchase of such Common Shares, then the Company shall be entitled to a further period of thirty-six hours within which to procure another party or other parties reasonably satisfactory to the Representatives to purchase such Common Shares on such terms. In the event that, within the respective prescribed periods, the Representatives notify the Company that they have so arranged for the purchase of such Common Shares, or the Company notifies the Representatives that it has so arranged for the purchase of such Common Shares, the Representatives or the Company 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 Company agrees to file promptly any amendments to the Registration Statement or the Prospectus which in the opinion of the Representatives 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 Common Shares. The foregoing shall not relieve any defaulting Underwriter from liability for its defaultSelling Securityholders.

Default by the Underwriters. (a) If any Underwriter or Underwriters shall default in their obligations to purchase the Common Shares which they have agreed to purchase hereunder, the Representatives Representative may in their its discretion arrange for the purchase of such Common Shares by themselves or another party or other parties on the terms contained herein. If within thirty-six hours after such default by any Underwriter, the Representatives do Representative does not arrange for the purchase of such Common Shares, then the Company shall be entitled to a further period of thirty-six hours within which to procure another party or other parties reasonably satisfactory to the Representatives Representative to purchase such Common Shares on such terms. In the event that, within the respective prescribed periods, the Representatives notify Representative notifies the Company that they have so arranged for the purchase of such Common Shares, or the Company notifies the Representatives that it has so arranged for the purchase of such Common Shares, or the Company notifies the Representative that it has so arranged for the purchase of such Shares, the Representatives Representative or the Company 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 Company agrees to file promptly any amendments to the Registration Statement or the Prospectus which in the opinion of the Representatives Representative 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 Common Shares. The foregoing shall not relieve any defaulting Underwriter from liability for its default.