Common use of Default of One or More of the Several Underwriters Clause in Contracts

Default of One or More of the Several Underwriters. If, on the Closing Date, any one or more of the several Underwriters shall fail or refuse to purchase Notes that it or they have agreed to purchase hereunder on such date, and the aggregate principal amount of Notes, which such defaulting Underwriter or Underwriters agreed but failed or refused to purchase does not exceed 10% of the aggregate principal amount of the Notes to be purchased on such date, the other Underwriters shall be obligated, severally, in the proportion to the aggregate principal amounts of such Notes set forth opposite their respective names on Schedule A bears to the aggregate principal amount of such Notes set forth opposite the names of all such non-defaulting Underwriters, or in such other proportions as may be specified by the Representatives with the consent of the non-defaulting Underwriters, to purchase such Notes which such defaulting Underwriter or Underwriters agreed but failed or refused to purchase on such date. If, on the Closing Date, any one or more of the Underwriters shall fail or refuse to purchase such Notes

Default of One or More of the Several Underwriters. If, on the First Closing Date or the Second Closing Date, as the case may be, any one or more of the several Underwriters shall fail or refuse to purchase Notes Shares that it or they have agreed to purchase hereunder on such date, and the aggregate principal amount number of Notes, Common Shares which such defaulting Underwriter or Underwriters agreed but failed or refused to purchase does not exceed 10% of the aggregate principal amount number of the Notes Shares to be purchased on such date, the other Underwriters shall be obligated, severally, in the proportion to proportions that the aggregate principal amounts number of such Notes Firm Common Shares set forth opposite their respective names on Schedule A bears to the aggregate principal amount number of such Notes Firm Shares set forth opposite the names of all such non-defaulting Underwriters, or in such other proportions as may be specified by the Representatives with the consent of the non-defaulting Underwriters, to purchase such Notes the Shares which such defaulting Underwriter or Underwriters agreed but failed or refused to purchase on such date. If, on the First Closing Date, any one or more of the Underwriters shall fail or refuse to purchase such Notes

Default of One or More of the Several Underwriters. If, on the First Closing Date or the Second Closing Date, as the case may be, any one or more of the several Underwriters shall fail or refuse to purchase Notes Shares that it or they have agreed to purchase hereunder on such date, and the aggregate principal amount number of Notes, Common Shares which such defaulting Underwriter or Underwriters agreed but failed or refused to purchase does not exceed 10% of the aggregate principal amount number of the Notes Shares to be purchased on such date, the other Underwriters shall be obligated, severally, in the proportion to proportions that the aggregate principal amounts number of such Notes Firm Common Shares set forth opposite their respective names on Schedule A bears to the aggregate principal amount number of such Notes Firm Shares set forth opposite the names of all such non-defaulting Underwriters, or in such other proportions as may be specified by the Representatives with the consent of the non-defaulting Underwriters, to purchase such Notes the Shares which such defaulting Underwriter or Underwriters agreed but failed or refused to purchase on such date. If, on the First Closing Date or the Second Closing Date, as the case may be, any one or more of the Underwriters shall fail or refuse to purchase such NotesShares and the aggregate number of

Default of One or More of the Several Underwriters. If, on the First Closing Date or the Second Closing Date, as the case may be, any one or more of the several Underwriters shall fail or refuse to purchase Notes Shares that it or they have agreed to purchase hereunder on such date, and the aggregate principal amount number of Notes, Common Shares which such defaulting Underwriter or Underwriters agreed but failed or refused to purchase does not exceed 10% of the aggregate principal amount number of the Notes Shares to be purchased on such date, the other Underwriters shall be obligated, severally, in the proportion to proportions that the aggregate principal amounts number of such Notes Firm Shares set forth opposite their respective names on Schedule A bears to the aggregate principal amount number of such Notes Firm Shares set forth opposite the names of all such non-defaulting Underwriters, or in such other proportions as may be specified by the Representatives with the consent of the non-defaulting Underwriters, to purchase such Notes the Shares which such defaulting Underwriter or Underwriters agreed but failed or refused to purchase on such date. If, on the Closing Date, any one or more of the Underwriters shall fail or refuse to purchase such Notesto

Default of One or More of the Several Underwriters. If, on the First Closing Date or the Second Closing Date, with respect to the Option Shares, as the case may be, any one or more of the several Underwriters shall fail or refuse to purchase Notes Shares that it or they have agreed to purchase hereunder on such date, and the aggregate principal amount number of Notes, Common Shares which such defaulting Underwriter or Underwriters agreed but failed or refused to purchase does not exceed 10% of the aggregate principal amount number of the Notes Shares to be purchased on such date, the other Underwriters shall be obligated, severally, in the proportion to proportions that the aggregate principal amounts number of such Notes Firm Common Shares set forth opposite their respective names on Schedule A bears to the aggregate principal amount number of such Notes Firm Shares set forth opposite the names of all such non-defaulting Underwriters, or in such other proportions as may be specified by the Representatives with the consent of the non-defaulting Underwriters, to purchase such Notes the Shares which such defaulting Underwriter or Underwriters agreed but failed or refused to purchase on such date. If, on the First Closing Date, any one or more of the Underwriters shall fail or refuse to purchase such Notes

Default of One or More of the Several Underwriters. If, on the First Closing Date or each Subsequent Closing Date, as the case may be, any one or more of the several Underwriters shall fail or refuse to purchase Notes Units that it or they have agreed to purchase hereunder on such date, and the aggregate principal amount number of Notes, Units which such defaulting Underwriter or Underwriters agreed but failed or refused to purchase does not exceed 10% of the aggregate principal amount number of the Notes Units to be purchased on such date, the other Underwriters shall be obligated, severally, in the proportion to proportions that the aggregate principal amounts number of such Notes Firm Units set forth opposite their respective names on Schedule A bears to the aggregate principal amount number of such Notes Firm Units set forth opposite the names of all such non-defaulting Underwriters, or in such other proportions as may be specified by the Representatives Representative with the consent of the non-defaulting Underwriters, to purchase such Notes the Units which such defaulting Underwriter or Underwriters agreed but failed or refused to purchase on such date. If, on the Closing Date, any one or more of the Underwriters shall fail or refuse to purchase such Notessuch

Default of One or More of the Several Underwriters. If, on the First Closing Date or the Second Closing Date, as the case may be, any one or more of the several Underwriters shall fail or refuse to purchase Notes Common Shares that it or they have agreed to purchase hereunder on such date, and the aggregate principal amount number of Notes, Common Shares which such defaulting Underwriter or Underwriters agreed but failed or refused to purchase does not exceed 10% of the aggregate principal amount number of the Notes Common Shares to be purchased on such date, the other Underwriters shall be obligated, severally, in the proportion to proportions that the aggregate principal amounts number of such Notes Firm Common Shares set forth opposite their respective names on Schedule A bears to the aggregate principal amount number of such Notes Firm Common Shares set forth opposite the names of all such non-defaulting Underwriters, or in such other proportions as may be specified by the Representatives with the consent of the non-defaulting Underwriters, to purchase such Notes the Common Shares which such defaulting Underwriter or Underwriters agreed but failed or refused to purchase on such date. If, on the Closing Date, any one or more of the Underwriters shall fail or refuse to purchase such Notes,