Default in Purchase of Public Securities. If the Underwriter shall default in its obligation to purchase the 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, (i) in the case of a default in less than 10% of the aggregate number of Public Securities the Underwriter agreed to purchase, within one (1) Business Day after such default or (ii) in the case of a default of 10% or more of the aggregate number of Public Securities, within three (3) Business Days after such default, 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 of the Parties arranges 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 either Party without liability on the part of the Company (except as provided in Sections 9.4 and 9.5 hereof); and provided, that nothing herein shall relieve the Underwriter of its liability, to the Company for damages occasioned by its default hereunder.
