Common use of EFFECTIVENESS OF UNDERWRITING AGREEMENT AND SALES CONFIRMATIONS Clause in Contracts

EFFECTIVENESS OF UNDERWRITING AGREEMENT AND SALES CONFIRMATIONS. The Underwriting Agreement shall not be effective, and the Underwriters agree that no contracts of sale may be entered into by the Underwriters in respect of the Designated Securities, until the “Pricing Effective Time” specified in the Underwriting Agreement. The “Pricing Effective Time” shall occur and be confirmed by specification in the Underwriting Agreement when (i) a Permitted Free Writing Prospectus and either the Basic Prospectus or a Preliminary Prospectus, or (ii) the Pricing Supplement, prepared by the Company, shall be available for filing or electronic delivery to purchasers, which document shall include the information with respect to the material terms of the Designated Securities not contained in the Basic Prospectus (such documents, together with the Basic Prospectus, in the aggregate, the “Pricing Disclosure Material”).

EFFECTIVENESS OF UNDERWRITING AGREEMENT AND SALES CONFIRMATIONS. The Underwriting Agreement shall not be effective, and the Underwriters agree that no contracts of sale may be entered into by the Underwriters in respect of the Designated Securities, until the “Pricing Effective Time” specified in the Underwriting Agreement. The “Pricing Effective Time” shall occur and be confirmed by specification in the Underwriting Agreement when (i) a Permitted Free Writing Prospectus and either the Basic Prospectus or a Preliminary Prospectus, or (ii) the information in the Pricing Supplement, prepared by the Company, shall be available for filing or electronic delivery to purchasers, which document shall include the information with respect to the material terms of the Designated Securities not contained in the Basic Prospectus (such documents, together with the Basic Permitted Free Writing Prospectus and the Preliminary Prospectus, in the aggregate, the “Pricing Disclosure Material”). The Pricing Disclosure Material shall be specified in the Underwriting Agreement.