PROCEDURE FOR EFFECTING DISCHARGE OF UNDERWRITING OBLIGATIONS. Subject to Section 2.2, the underwriting obligations, if any, of the Underwriters under this Agreement shall be discharged in the manner set forth below:
PROCEDURE FOR EFFECTING DISCHARGE OF UNDERWRITING OBLIGATIONS. 6.1 The underwriting obligations, if any, as determined under the terms of this Agreement shall be discharged in the manner set forth below:
PROCEDURE FOR EFFECTING DISCHARGE OF UNDERWRITING OBLIGATIONS. 6.1 Subject to Clause 2.2, the underwriting obligations, if any, of the Underwriters under this Agreement shall be discharged in the manner set forth below: The Company, on behalf of itself and each of the Selling Shareholders, shall as soon as reasonably practicable (but not later than the second Working Day following the Bid/Offer Closing Date), provide written notice to each Underwriter of the details of any valid Syndicate ASBA Bids procured by such Underwriter (or their respective sub-Syndicate Members) with respect to which such Underwriter is obligated to procure purchasers or subscribers for, or purchase/subscribe itself, and to pay, or cause the payment of the Offer Price for such number of Equity Shares under Clause 5.3 of this Agreement. For the avoidance of doubt, the underwriting obligation of the Underwriters under this Clause 6 shall not apply to any Bids that have been submitted by Bidders other than Syndicate ASBA Bidders. The Company, on behalf of itself and each of the Selling Shareholders, shall, simultaneously with the notice referred to in Clause 6.1(a), provide written notice to JMFL in respect of Bids procured by JMFSL, of the details of any valid Bids for which the Syndicate ASBA Bidders have placed a Bid and in respect of which Bids the Syndicate ASBA Bidders would have been entitled to receive Allotment of the Equity Shares, but for defaults in the performance of its obligations as per Clause 6.1(a), and accordingly, the extent of the obligation of such BRLM (in respect of such Syndicate Member) to procure subscribers or purchasers for, or subscribe to or purchase itself, such number of Equity Shares representing such Bids computed in accordance with Clause 5.2. Each Underwriter shall, promptly following the receipt of the notices referred to in Clauses 6.1(a) and 6.1(b), procure subscribers or purchasers for and/or make applications to subscribe to or purchase Equity Shares as specified in such notices and required under this Agreement and submit such applications to the Company and the Selling Shareholders to subscribe to or purchase the Equity Shares and pay or cause the payment of the Offer Price for such Equity Shares into the Escrow Account as soon as reasonably practicable but prior to finalization of the Basis of Allotment by the Designated Stock Exchange. In the event of any failure by any Underwriter to procure subscribers or purchasers for or subscribe to or purchase itself, the Equity Shares as required under Clauses ...
PROCEDURE FOR EFFECTING DISCHARGE OF UNDERWRITING OBLIGATIONS. 7.1 The underwriting obligations, if any, determined in terms of this Agreement shall be discharged in the manner set forth below. The Selling Shareholder and the Company shall, immediately following the expiration of the Pay-in Period, provide written notice to each Underwriter of the details of any Bids procured by such Underwriter, for which the Bidders (other than QIB Bidders) have received allocations and for which payment has not been received or in respect of which Bids have been withdrawn, and accordingly, the extent of the obligation of the Underwriters, respectively, to procure purchasers for, or purchase itself, Equity Shares, computed in the manner set forth in Section 5 above. Each Underwriter shall, within a period of two Working Days from receipt of notice under this Section 7.1, subscribe and/or procure subscription to the Equity Shares to the extent of its underwriting obligations and make payment for the same.
