Common use of Delivery of Depositary Units Clause in Contracts

Delivery of Depositary Units. If the Company defaults in its obligation to deliver Depositary Units on a Settlement Date, the Company agrees that it will hold the Agent harmless against any loss, claim, damage or expense (arising out of or in connection with such default by the Company. The parties hereto acknowledge and agree that, in performing its obligations under this Agreement, the Agent may borrow Depositary Units from securities lenders in the event that the Company has not delivered Depositary Units to settle sales as required by subsection (v) above, and may use the Depositary Units to settle or close out such borrowings.