Common use of Termination and Settlement Clause in Contracts

Termination and Settlement. The provisions of the last paragraph of Section 4 hereof, the first sentence and fourth paragraph of Section 7 hereof, and Section 8 hereof will terminate at the close of business 45 days after the date of the initial public offering unless extended by you by notice to us for a further period not exceeding an additional 45 days. Such provisions may be terminated at such earlier time as you determine in your discretion, by notice to us stating that such provisions are terminated. As promptly as practicable after termination of the provisions referred to in the first paragraph of this Section 10, our account will be settled and paid, provided that you reserve from distribution to the several Underwriters such amounts as you may deem advisable to cover possible additional expenses. You may at any time make partial distribution of credit balances or call on the several Underwriters to pay their respective debit balances. Any of our funds in your hands may be held with your general funds without accountability for interest and may be commingled with your general funds. Notwithstanding termination of this Agreement or any settlement, we agree to pay (a) our proportionate share (based on our underwriting obligation) of all expenses and liabilities which may be incurred by or for the account of the Underwriters and (b) any transfer taxes paid after such settlement on account of any sale or transfer for our account. If the Underwriting Agreement shall be terminated or canceled, or if it shall be executed but shall not become effective, our obligations hereunder shall immediately cease and terminate except for the obligation to pay our proportionate share of all expenses and except for obligations, if any, incurred for our account under Section 7 hereof and our obligations under the second paragraph of this Section 10 and under Section 14 hereof.

Termination and Settlement. The provisions of the last paragraph fifth, sixth, seventh and eighth paragraphs of Section 4 hereof, and of the first sentence and fourth paragraph of Section 7 hereof7, and of Section 8 hereof will terminate (a) at the close of business 45 days on the thirtieth day after the date of the initial public offering unless extended by Underwriting Agreement; or (b) on such earlier or later date, not more than thirty (30) days after the date specified in (a), as you by notice to us for a further period not exceeding an additional 45 days. Such provisions may determine; or (c) on the date of termination of the Underwriting Agreement, if the same shall be terminated at such earlier time as you determine in your discretion, provided by notice to us stating that such provisions are terminatedits terms. As promptly as practicable after termination of the provisions referred to in the first paragraph of this Section 10Section, our account will be settled and paid, provided that you Xxxxxxxxx may reserve from distribution to the several Underwriters such amounts as you may deem Xxxxxxxxx deems advisable to cover the possible additional expenses. You The determination by Xxxxxxxxx of the amounts to be paid to or by us will be final and conclusive. Xxxxxxxxx may at any time make partial distribution of credit balances or call on the several Underwriters to pay their respective debit balances. Any of our funds in your hands may be held with your general funds without accountability for interest and may be commingled with your general funds. Notwithstanding termination of this Agreement or any settlement, we agree to pay (a) our proportionate share (based on our underwriting obligation) of all expenses and liabilities which that may be incurred by or for the account of the Underwriters Underwriters, or any of them, and (b) any transfer taxes paid after such settlement on account of any sale or transfer for our account. If the Underwriting Agreement shall be terminated or canceled, as permitted by the terms thereof or if it shall be executed but shall not become effective, our obligations hereunder herein shall immediately cease and terminate except for the obligation obligations to pay our proportionate share of all expenses and except for obligations, if any, incurred for our account under Section 7 hereof and our obligations under the second paragraph of this Section 10 12 and under Section 14 16 hereof.