Common use of Underwriter Default Clause in Contracts

Underwriter Default. (a) If any Underwriter or Underwriters shall fail at the Closing Date or an Option Closing Date to purchase the Initial Securities or Option Securities which it is obligated to purchase under this Agreement, and if the Initial Securities or Option Securities with respect to which such failure to purchase relates (the “Default Securities”) do not (after giving effect to arrangements, if any, made by the Representatives pursuant to subsection (b) below) exceed in the aggregate 10% of the number of Initial Securities or Option Securities, each non-defaulting Underwriter, acting severally and not jointly, agrees to purchase from the Company that number of Default Securities that bears the same proportion of the total number of Default Securities then being purchased as the number of Initial Securities set forth opposite the name of such Underwriter in Schedule I hereto bears to the aggregate number of Initial Securities set forth opposite the names of the non-defaulting Underwriters, subject, however, to such adjustments to eliminate fractional shares as the Representatives in their sole discretion shall make.

Underwriter Default. (a) a. If any Underwriter or Underwriters shall fail at the Closing Date default in its or an Option Closing Date their obligation to purchase Firm Securities or Option Securities, if the Initial Over-Allotment Option is exercised hereunder, and if the Firm Securities or Option Securities which it is obligated to purchase under this Agreement, and if the Initial Securities or Option Securities as applicable, with respect to which such failure to purchase default relates (the “Default Securities”) do not (after giving effect to arrangements, if any, made by the Representatives Representative pursuant to subsection (b) below) exceed in the aggregate ten percent (10% %) of the number of Initial Firm Securities or Option Securities, as applicable, each non-defaulting Underwriter, acting severally and not jointly, agrees to purchase from the Company that number of Default Securities that bears the same proportion of to the total number of Default Securities then being purchased as the number of Initial Firm Securities or Option Securities, as applicable, set forth opposite the name of such Underwriter in Schedule I on Annex A hereto bears to the aggregate number of Initial Firm Securities or Option Securities, as applicable, set forth opposite the names of the non-defaulting Underwriters, ; subject, however, to such adjustments to eliminate fractional shares as the Representatives Representative in their its sole discretion shall make.

Underwriter Default. (a) If any Underwriter or Underwriters shall fail at If, on the Closing Date or an Option Closing Date Date, as the case may be, any Underwriter or Underwriters shall default in its or their obligation to purchase the Initial Offered Securities that it has or Option Securities which it is obligated they have agreed to purchase under this Agreementhereunder on such date, and if the Initial Securities or Option Offered Securities with respect to which such failure to purchase default relates (the “Default Securities”) do not (after giving effect to arrangements, if any, made by the Representatives Representative pursuant to subsection (b) below) exceed in the aggregate 10% of the aggregate number of Initial the Offered Securities or Option Securitiesto be purchased on such date, each non-defaulting Underwriter, acting severally and not jointly, agrees to purchase from the Company that number of Default Securities that bears the same proportion of to the total number of Default Securities then being purchased as the number of Initial Securities Firm Shares set forth opposite the name of such Underwriter in on Schedule I A hereto bears to the aggregate number of Initial Securities Firm Shares set forth opposite the names of the non-defaulting Underwriters, ; subject, however, to such adjustments to eliminate fractional shares as the Representatives Representative in their its sole discretion shall make.

Underwriter Default. (a) If any Underwriter or Underwriters shall fail at the Closing Date default in its or an Option Closing Date their obligation to purchase the Initial Securities Firm Shares, Pre-Funded Warrants or Option Securities which it is obligated to purchase under this AgreementAdditional Shares hereunder, and if the Initial Securities Firm Shares, Pre-Funded Warrants or Option Securities Additional Shares with respect to which such failure to purchase default relates (the “Default Securities”) do not (after giving effect to arrangements, if any, made by the Representatives Representative pursuant to subsection (b) below) exceed in the aggregate 10% of the number of Initial Securities Firm Shares, Pre-Funded Warrants or Option SecuritiesAdditional Shares, each non-defaulting Underwriter, acting severally and not jointly, agrees to purchase from the Company that number of Default Securities that bears the same proportion of the total number of Default Securities then being purchased as the number of Initial Securities Firm Shares and Pre-Funded Warrants set forth opposite the name of such Underwriter in Schedule I hereto bears to the aggregate number of Initial Securities Firm Shares and Pre-Funded Warrants set forth opposite the names of the non-defaulting Underwriters, subject, however, to such adjustments to eliminate fractional shares as the Representatives Representative in their its sole discretion shall make.

Underwriter Default. (a) If any Underwriter or Underwriters shall fail at the Closing Date default in its or an Option Closing Date their obligation to purchase Firm Shares, the Initial Securities Pre-Funded Warrants or Option Securities which it is obligated to purchase under this AgreementAdditional Shares hereunder, and if the Initial Securities Firm Shares, Pre-Funded Warrants or Option Securities Additional Shares with respect to which such failure to purchase default relates (the “Default SecuritiesShares”) do not (after giving effect to arrangements, if any, made by the Representatives Representative pursuant to subsection (b) below) exceed in the aggregate 10% of the number of Initial Securities Firm Shares, Pre-Funded Warrants or Option SecuritiesAdditional Shares, each non-defaulting Underwriter, acting severally and not jointly, agrees to purchase from the Company that number of Default Securities Shares that bears the same proportion of the total number of Default Securities Shares then being purchased as the number of Initial Securities Firm Shares and Pre-Funded Warrants set forth opposite the name of such Underwriter in Schedule I hereto bears to the aggregate number of Initial Securities Firm Shares and Pre-Funded Warrants set forth opposite the names of the non-defaulting Underwriters, subject, however, to such adjustments to eliminate fractional shares as the Representatives Representative in their its sole discretion shall make.

Underwriter Default. (a) a. If any Underwriter or Underwriters shall fail at the Closing Date default in its or an Option Closing Date their obligation to purchase the Initial Firm Securities or Option Securities which it Securities, if the Over-allotment Option is obligated to purchase under this Agreementexercised hereunder, and if the Initial Firm Securities or Option Securities with respect to which such failure to purchase default relates (the “Default Securities”) do not (after giving effect to arrangements, if any, made by the Representatives Representative pursuant to subsection (b) below) exceed in the aggregate 10% of the number of Initial Firm Securities or Option Securities, each non-defaulting Underwriter, acting severally and not jointly, agrees to purchase from the Company that number of Default Securities or Option Securities that bears the same proportion of to the total number of Default Securities then being purchased as the number of Initial Firm Securities set forth opposite the name of such Underwriter in Schedule I on Annex A hereto bears to the aggregate number of Initial Firm Securities set forth opposite the names of the non-defaulting Underwriters, ; subject, however, to such adjustments to eliminate fractional shares as the Representatives Representative in their its sole discretion shall make.