Common use of Default Exceeding 10% of Firm Securities Clause in Contracts

Default Exceeding 10% of Firm Securities. In the event that the default addressed in Section 6.1 relates to more than ten percent (10%) of the number of Firm Securities, the Underwriter may in its discretion arrange for itself or for another party or parties to purchase such Firm Securities to which such default relates on the terms contained herein. If, within one (1) Business Day after such default relating to more than ten percent (10%) of the number of Firm Securities, the Underwriter does not arrange for the purchase of such Firm Securities, then the Company shall be entitled to a further period of one (1) Business Day within which to procure another party or parties satisfactory to the Underwriter to purchase said Firm Securities on such terms. In the event that neither the Underwriter nor the Company arrange for the purchase of the Firm Securities to which a default relates as provided in this Section 6, this Agreement will automatically be terminated by the Underwriter or the Company without liability on the part of the Company (except as provided in Sections 3.10 and 5 hereof) or Underwriter (except as provided in Section 5 hereof); provided, that nothing herein shall relieve a defaulting Underwriter of its liability, if any, to the Company for damages occasioned by its default hereunder.

Default Exceeding 10% of Firm Securities. In the event that the default addressed in Section 6.1 relates to more than ten percent (10%) % of the number of Firm Securities, the Underwriter you may in its your discretion arrange for itself yourself or for another party or parties to purchase such Firm Securities to which such default relates on the terms contained herein. If, within one (1) Business Day after such default relating to more than ten percent (10%) % of the number of Firm Securities, the Underwriter does you do not arrange for the purchase of such Firm Securities, then the Company shall be entitled to a further period of one (1) Business Day within which to procure |US-DOCS\146293200.10|| another party or parties satisfactory to the Underwriter you to purchase said Firm Securities on such terms. In the event that neither the Underwriter you nor the Company arrange for the purchase of the Firm Securities to which a default relates as provided in this Section 6, this Agreement will automatically be terminated by the Underwriter you or the Company without liability on the part of the Company (except as provided in Sections 3.10 and 5 hereof) or Underwriter the several Underwriters (except as provided in Section 5 hereof); provided, however, that nothing herein shall relieve a defaulting Underwriter of its liability, if any, to the other Underwriters and to the Company for damages occasioned by its default hereunder.

Default Exceeding 10% of Firm Securities. In the event that the such default addressed in Section 6.1 relates to more than ten percent (10%) % of the number of Firm Securities or Option Securities, the Underwriter you may in its your discretion arrange for itself yourself or for another party or parties to purchase such Firm Securities or Option Securities to which such default relates on the terms contained herein. If, If within one (1) Business Day business day after such default relating to more than ten percent (10%) % of the number of Firm Securities, the Underwriter does Securities or Option Securities you do not arrange for the purchase of such Firm Securities or Option Securities, then the Company shall be entitled to a further period of one (1) Business Day business day within which to procure another party or parties satisfactory to the Underwriter you to purchase said Firm Securities or Option Securities on such terms. In the event that neither the Underwriter you nor the Company arrange for the purchase of the Firm Securities or Option Securities to which a default relates as provided in this Section 6, this Agreement will automatically may be terminated by the Underwriter you or the Company without liability on the part of the Company (except as provided in Sections 3.10 Section 3.15 and 5 Section 5.1 hereof) or Underwriter (except as provided in Section 5 hereof); provided, that the several Underwriters but nothing herein shall relieve a defaulting Underwriter of its liability, if any, to the other several Underwriters and to the Company for damages occasioned by its default hereunder.