Common use of Increase in Underwriters’ Commitments Clause in Contracts

Increase in Underwriters’ Commitments. (a) If any Underwriter shall default at the Closing Time or any Option Closing Time in its obligation to take up and pay for the Shares to be purchased by it under this Agreement (the “Defaulted Shares”) and the total number of Defaulted Shares does not exceed 10% of the total number of Shares to be purchased at such time, each non-defaulting Underwriter shall take up and pay for (in addition to the number of Shares which it is otherwise obligated to purchase at such time pursuant to this Agreement) the portion of the total number of Shares agreed to be purchased by the defaulting Underwriter at such time in the proportion that its underwriting obligations hereunder bears to the underwriting obligations of all non-defaulting Underwriters, provided that, if the total number of Defaulted Shares exceeds 10% of the total number of Shares to be purchased at such time, the Representatives may terminate this Agreement by notice to the Company, without liability of any party to any other party except that the provisions of Sections 5 and 9 hereof shall at all times be effective and shall survive such termination.

Increase in Underwriters’ Commitments. (a) If any Underwriter shall default at the Closing Time or any Option Closing Time in its obligation to take up and pay for the Shares to be purchased by it under this Agreement at such time, the Representatives shall have the right, within 36 hours after such default, to make arrangements for one or more of the non-defaulting Underwriters, or any other underwriters, to purchase all, but not less than all, of the Shares which such Underwriter shall have agreed but failed to take up and pay for (the “Defaulted Shares”). Absent the completion of such arrangements within such 36-hour period, (i) and if the total number of Defaulted Shares does not exceed 10% of the total number of Shares to be purchased at such time, each non-defaulting Underwriter shall take up and pay for (in addition to the number of Shares which it is otherwise obligated to purchase at such time pursuant to this Agreement) the portion of the total number of Shares agreed to be purchased by the defaulting Underwriter at such time in the proportion that its underwriting obligations hereunder bears to the underwriting obligations of all non-defaulting Underwriters, provided that, Underwriters and (ii) if the total number of Defaulted Shares exceeds 10% of the total number of Shares to be purchased at such time, the Representatives may terminate this Agreement by notice to the Company, without liability of any party to any other party except that the provisions of Sections 5 and 9 hereof shall at all times be effective and shall survive such termination.

Increase in Underwriters’ Commitments. (a) If any Underwriter shall default at the Closing Time or any Option Closing Time in its obligation to take up and pay for the Shares to be purchased by it under this Agreement (the “Defaulted Shares”) and the total number of Defaulted Shares does not exceed 10% of the total number of Shares to be purchased at such time, each non-defaulting Underwriter shall take up and pay for (in addition to the number of Shares which it is otherwise obligated to purchase at such time pursuant to this Agreement) the portion of the total number of Shares agreed to be purchased by the defaulting Underwriter at such time in the proportion that its underwriting obligations hereunder bears to the underwriting obligations of all non-defaulting Underwriters, provided that, if the total number of Defaulted Shares exceeds 10% of the total number of Shares to be purchased at such time, the Representatives Representative may terminate this Agreement by notice to the Company, without liability of any party to any other party except that the provisions of Sections 5 and 9 hereof shall at all times be effective and shall survive such termination.

Increase in Underwriters’ Commitments. (a) If any Underwriter shall default at the Closing Time or any Option Closing Time in its obligation to take up and pay for the Shares to be purchased by it under this Agreement at such time, the Representative shall have the right, within 36 hours after such default, to make arrangements for one or more of the non-defaulting Underwriters, or any other underwriters, to purchase all, but not less than all, of the Shares which such Underwriter shall have agreed but failed to take up and pay for (the “Defaulted Shares”). Absent the completion of such arrangements within such 36-hour period, (i) and if the total number of Defaulted Shares does not exceed 10% of the total number of Shares to be purchased at such time, each non-defaulting Underwriter shall take up and pay for (in addition to the number of Shares which it is otherwise obligated to purchase at such time pursuant to this Agreement) the portion of the total number of Shares agreed to be purchased by the defaulting Underwriter at such time in the proportion that its underwriting obligations hereunder bears to the underwriting obligations of all non-defaulting Underwriters, provided that, Underwriters and (ii) if the total number of Defaulted Shares exceeds 10% of the total number of Shares to be purchased at such time, the Representatives Representative may terminate this Agreement by notice to the Company, without liability of any party to any other party except that the provisions of Sections 5 and 9 hereof shall at all times be effective and shall survive such termination.