Common use of Default by Underwriter Clause in Contracts

Default by Underwriter. (a) If any Underwriter shall default in its obligation to purchase the Securities which it has agreed to purchase hereunder, the Representatives may in their discretion arrange for the Underwriters or another party or other parties to purchase such Securities 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 Securities, then the Company shall be entitled to a further period of thirty-six hours within which to procure another party or other parties satisfactory to the Representatives to purchase such Securities on such terms. In the event that, within the respective prescribed periods, the Representatives notify the Company that the Representatives have so arranged for the purchase of such Securities, or the Company notifies the Representatives that it has so arranged for the purchase of such Securities, the Representatives or the Company shall have the right to postpone the Time of Delivery 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 or supplements to the Registration Statement or the Prospectus which in the opinion of the Company and the Representatives may thereby be made necessary. The term “Underwriter” as used in this Agreement shall include any person substituted under this Section 10 with like effect as if such person had originally been a party to this Agreement with respect to such Securities.

Default by Underwriter. (a) If any Underwriter shall default in its obligation to purchase the Securities Depositary Shares which it has agreed to purchase hereunder, the Representatives may in their discretion arrange for the Underwriters or another party or other parties to purchase such Securities Depositary Shares 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 SecuritiesDepositary Shares, then the Company shall be entitled to a further period of thirty-six hours within which to procure another party or other parties satisfactory to the Representatives to purchase such Securities Depositary Shares on such terms. In the event that, within the respective prescribed periods, the Representatives notify the Company that the Representatives have so arranged for the purchase of such SecuritiesDepositary Shares, or the Company notifies the Representatives that it has so arranged for the purchase of such SecuritiesDepositary Shares, the Representatives or the Company shall have the right to postpone the Time of Delivery 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 or supplements to the Registration Statement or the Prospectus which in the opinion of the Company and the Representatives may thereby be made necessary. The term “Underwriter” as used in this Agreement shall include any person substituted under this Section 10 with like effect as if such person had originally been a party to this Agreement with respect to such SecuritiesDepositary Shares.

Default by Underwriter. (a) If any Underwriter shall default in its obligation to purchase the Securities Warrants which it has agreed to purchase hereunder, the Representatives Representative may in their its discretion arrange for the Underwriters or another party or other parties to purchase such Securities Warrants on the terms contained herein. If within thirty-six hours after such default by any Underwriter Underwriter, the Representatives do Representative does not arrange for the purchase of such SecuritiesWarrants, then the Company shall be entitled to a further period of thirty-six hours within which to procure another party or other parties satisfactory to the Representatives Representative to purchase such Securities Warrants on such terms. In the event that, within the respective prescribed periods, the Representatives Representative notify the Company that the Representatives have Representative has so arranged for the purchase of such SecuritiesWarrants, or the Company notifies the Representatives Representative that it has so arranged for the purchase of such SecuritiesWarrants, the Representatives Representative or the Company shall have the right to postpone the Time of Delivery 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 or supplements to the Registration Statement or the Prospectus which in the opinion of the Company and the Representatives Representative may thereby be made necessary. The term “Underwriter” as used in this Underwriting Agreement shall include any person substituted under this Section 10 with like effect as if such person had originally been a party to this Underwriting Agreement with respect to such SecuritiesWarrants.

Default by Underwriter. (a) If any Underwriter shall default in its obligation to purchase the Securities Warrants which it has agreed to purchase hereunder, the Representatives may in their discretion arrange for the Underwriters or another party or other parties to purchase such Securities Warrants on the terms contained herein. If within thirty-six hours after such default by any Underwriter Underwriter, the Representatives do not arrange for the purchase of such SecuritiesWarrants, then the Company shall be entitled to a further period of thirty-six hours within which to procure another party or other parties satisfactory to the Representatives to purchase such Securities Warrants on such terms. In the event that, within the respective prescribed periods, the Representatives notify the Company that the Representatives have so arranged for the purchase of such SecuritiesWarrants, or the Company notifies the Representatives that it has so arranged for the purchase of such SecuritiesWarrants, the Representatives or the Company shall have the right to postpone the each Time of Delivery 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 or supplements to the Registration Statement or the Prospectus which in the opinion of the Company and the Representatives may thereby be made necessary. The term “Underwriter” as used in this Underwriting Agreement shall include any person substituted under this Section 10 with like effect as if such person had originally been a party to this Underwriting Agreement with respect to such SecuritiesWarrants.

Default by Underwriter. (a) If any Underwriter shall default in its obligation to purchase the Securities which it has agreed to purchase hereunder, the Representatives may in their discretion arrange for the Underwriters or another party or other parties to purchase such Securities 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 Securities, then the Company shall be entitled to a further period of thirty-six hours within which to procure another party or other parties satisfactory to the Representatives to purchase such Securities on such terms. In the event that, within the respective prescribed periods, the Representatives notify the Company that the Representatives have so arranged for the purchase of such Securities, or the Company notifies the Representatives that it has so arranged for the purchase of such Securities, the Representatives or the Company shall have the right to postpone the Time of Delivery 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 or supplements to the Registration Statement or the Prospectus which in the opinion of the Company and the Representatives may thereby be made necessary. The term “Underwriter” as used in this Agreement shall include any person substituted under this Section 10 with like effect as if such person had originally been a party to this Agreement with respect to such Securities.

Default by Underwriter. (a) If any Underwriter shall default in its obligation to purchase the Securities Depositary Shares which it has agreed to purchase hereunderhereunder at the applicable Time of Delivery, the Representatives Representative may in their its discretion arrange for the Underwriters or another party or other parties to purchase such Securities Depositary Shares 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 SecuritiesDepositary Shares, then the Company shall be entitled to a further period of thirty-six hours within which to procure another party or other parties satisfactory to the Representatives Representative to purchase such Securities Depositary Shares on such terms. In the event that, within the respective prescribed periods, the Representatives notify Representative notifies the Company that the Representatives have Representative has so arranged for the purchase of such SecuritiesDepositary Shares, or the Company notifies the Representatives Representative that it has so arranged for the purchase of such SecuritiesDepositary Shares, the Representatives Representative or the Company shall have the right to postpone the any Time of Delivery 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 or supplements to the Registration Statement or the Prospectus which in the opinion of the Company and the Representatives Representative may thereby be made necessary. The term “Underwriter” as used in this Underwriting Agreement shall include any person substituted under this Section 10 with like effect as if such person had originally been a party to this Underwriting Agreement with respect to such SecuritiesDepositary Shares.

Default by Underwriter. (a) If any Underwriter shall default in its obligation to purchase the Securities Shares which it has agreed to purchase hereunderhereunder at a Closing Date, the Representatives Representative may in their its discretion arrange for any of the Underwriters or another party or other parties to purchase such Securities Shares 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 SecuritiesShares, then the Company shall be entitled to a further period of thirty-six hours within which to procure another party or other parties satisfactory to the Representatives Representative to purchase such Securities Shares on such terms. In the event that, within the respective prescribed periods, the Representatives notify Representative notifies the Company that the Representatives have so arranged for the purchase of such Securities, or the Company notifies the Representatives that it has so arranged for the purchase of such SecuritiesShares, 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 Time of Delivery such 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 or supplements to the Registration Statement or the Prospectus which in the Representative's opinion of the Company and the Representatives may thereby be made necessary. The term “Underwriter” as used in this Agreement shall include any person substituted under this Section 10 with like effect as if such person had originally been a party to this Agreement with respect to such Securities."

Default by Underwriter. OF MORE THAN 10%. If one or more of the Underwriters shall fail or refuse (otherwise than for a reason sufficient to justify the termination of this Agreement under the provisions of Section 7 or 11 hereof) to purchase and pay for (a) If any Underwriter shall default in its obligation to purchase the Securities which it has case of the Closing Date, the number of Firm Shares agreed to purchase hereunderbe purchased by such Underwriter or Underwriters upon tender to you of such Firm Shares in accordance with the terms hereof or (b) in the case of the Option Closing Date, the Representatives may number of Additional Shares agreed to be purchased by such Underwriter or Underwriters upon tender to you of such Additional Shares in their discretion arrange for accordance with the terms hereof, and the number of such Shares shall exceed 10% of the Firm Shares or Additional Shares required to be purchased by all the Underwriters or another party or other parties to purchase such Securities on the terms contained herein. If Closing Date or the Option Closing Date, as the case may be, then (unless within thirty-six 48 hours after such default by any Underwriter the Representatives do not arrange arrangements to ING's satisfaction shall have been made for the purchase of such Securities, then the Company shall be entitled to a further period of thirty-six hours within which to procure another party defaulted Shares by an Underwriter or other parties satisfactory Underwriters) and subject to the Representatives to purchase such Securities provisions of Section 11(a) hereof, this Agreement will terminate without liability on such terms. In the event that, within part of any non-defaulting Underwriter or on the respective prescribed periods, the Representatives notify the Company that the Representatives have so arranged for the purchase of such Securities, or the Company notifies the Representatives that it has so arranged for the purchase of such Securities, the Representatives or the Company shall have the right to postpone the Time of Delivery 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 or supplements to the Registration Statement or the Prospectus which in the opinion part of the Company except as otherwise provided in Sections 6 and the Representatives may thereby be made necessary8 hereof. The term “Underwriter” as As used in this Agreement shall include Agreement, the term "Underwriter" includes any person substituted for an Underwriter under this paragraph. Nothing in this Section 10 with like effect as if 12, and no action taken hereunder, shall relieve any defaulting Underwriter from liability in respect of any default of such person had originally been a party to Underwriter under this Agreement with respect to such SecuritiesAgreement.

Default by Underwriter. (a) If any Underwriter shall default in its obligation to purchase the Securities Shares which it has agreed to purchase hereunderhereunder at a Time of Delivery, the Representatives may in their discretion arrange for the Underwriters or another party or other parties to purchase such Securities Shares 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 SecuritiesShares, then the Company shall be entitled to a further period of thirty-six hours within which to procure another party or other parties satisfactory to the Representatives to purchase such Securities Shares on such terms. In the event that, within the respective prescribed periods, the Representatives notify the Company that the Representatives have so arranged for the purchase of such SecuritiesShares, or the Company notifies the Representatives that it has so arranged for the purchase of such SecuritiesShares, the Representatives or the Company shall have the right to postpone the such Time of Delivery 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 or supplements to the Registration Statement or the Prospectus which in the opinion of the Company and the Representatives may thereby be made necessary. The term “Underwriter” as used in this Agreement shall include any person substituted under this Section 10 with like effect as if such person had originally been a party to this Agreement with respect to such SecuritiesShares.