Common use of Joint Activities Clause in Contracts

Joint Activities. The Bank and the Underwriters have agreed to come together to execute the offering of the Securities under this Agreement. In order to give effect to their intention, they have severally agreed to obligations on the terms of this Agreement. In particular, the Bank and the Underwriters acknowledge that activities undertaken jointly, including without limitation, any pricing process, any book-build process, any solicitation process, any allocation process, any price stabilization transactions and any restrictions on the parties, the offer, the sale, the resale or the transfer of any Securities, in each case, undertaken under the terms of this Agreement or any arrangements or understandings which are contemplated by this Agreement are reasonably necessary to implement offers of the Securities under this Agreement. Nothing in this Section 17 affects the rights, obligations, responsibilities or liabilities of the parties in respect of this Agreement or any transaction contemplated by it.