Common use of Reimbursement of Underwriter Expenses Clause in Contracts

Reimbursement of Underwriter Expenses. If for any reason other than default by an Underwriter in its obligation to purchase the Offered Securities or termination by an Underwriter pursuant to Section 10 hereof, the Offered Securities are not delivered by or on behalf of the Company as provided herein, the Company will reimburse each Underwriter for all out-of-pocket expenses of such Underwriter, including reasonable fees and disbursements of its counsel, reasonably incurred by such Underwriter in making preparations for the purchase, sale and delivery of the Offered Securities, but the Company shall then be under no further liability to any Underwriter with respect to the Offered Securities, except as provided in Section 5(d) hereof.