Common use of Underwriting Commitment Clause in Contracts

Underwriting Commitment. We hereby commit on the terms and conditions of this Agreement to purchase and pay for the number of Units set forth opposite our name in Schedule B ("Unit Commitment"). Except for the right to decrease our Unit Commitment granted to you above, and except as provided in Section 11, our Unit Commitment may be increased or decreased only by mutual written agreement between us and you at any time prior to the date the Underlying Debt Obligations or Underlying Securities are deposited in the Trust. Our percentage interest ("Underwriting Percentage") and the percentage interest of each Underwriter in the total Units to be offered shall be expressed by the following ratio: Unit Commitment = Underwriting Percentage Total Units The final determination of the respective Underwriting Percentages of all Underwriters shall be made by you as of the date the Underlying Debt Obligations or Underlying Securities are deposited in the Trust. You are authorized to increase or decrease the number of Units (and, correspondingly, the amount of Underlying Debt Obligations or Underlying Securities ) to be offered if you shall deem it advisable and practicable to do so. In the event you shall elect to decrease the number of Units hereunder, you shall have the right to decrease our Unit Commitment proportionately by notifying us of such election by telephone and promptly confirm by telegraph or writing. You are authorized to amend Schedule A to add additional Underwriters as you deem advisable in which case such Underwriters shall be deemed to have been parties to this Agreement as of the date of its confirmation by you. Any deletion of Underwriters from Schedule A by you to reflect their withdrawal from this underwriting participation shall be subject to reservation of all our rights with respect to them conferred in us by this Agreement.

Appears in 1 contract

Samples: Equity Securities Trust Series 6

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Underwriting Commitment. We hereby commit on the terms and conditions of this Agreement to purchase and pay for the number of Units set forth opposite our name in Schedule B ("Unit Commitment"). Except for the right to decrease our Unit Commitment granted to you above, and except as provided in Section 11, our Unit Commitment may be increased or decreased only by mutual written agreement between us and you at any time prior to the date the Underlying Debt Obligations or Underlying Securities are deposited in the Trust. Our percentage interest ("Underwriting Percentage") and the percentage interest of each Underwriter in the total Units to be offered shall be expressed by the following ratio: Unit Commitment = Underwriting Percentage --------------- Total Units The final determination of the respective Underwriting Percentages of all Underwriters shall be made by you as of the date the Underlying Debt Obligations or Underlying Securities are deposited in the Trust. You are authorized to increase or decrease the number of Units (and, correspondingly, the amount of Underlying Debt Obligations or Underlying Securities Obligations) to be offered if you shall deem it advisable and practicable to do so. In the event you shall elect to decrease the number of Units hereunder, you shall have the right to decrease our Unit Commitment proportionately by notifying us of such election by telephone and promptly confirm by telegraph or writing. You are authorized to amend Schedule A to add additional Underwriters as you deem advisable in which case such Underwriters shall be deemed to have been parties to this Agreement as of the date of its confirmation by you. Any deletion of Underwriters from Schedule A by you to reflect their withdrawal from this underwriting participation shall be subject to reservation of all our rights with respect to them conferred in us by this Agreement.

Appears in 1 contract

Samples: Municipal Securities Trust 40 and 68th Discount Series

Underwriting Commitment. We hereby commit on the terms and conditions of this Agreement to purchase and pay for the number of Units set forth opposite our name in Schedule B ("Unit Commitment"). Except for the right to decrease our Unit Commitment granted to you above, and except as provided in Section 11, our Unit Commitment may be increased or decreased only by mutual written agreement between us and you at any time prior to the date the Underlying Debt Obligations or Underlying Securities are deposited in the Trust. Our percentage interest ("Underwriting Percentage") and the percentage interest of each Underwriter in the total Units to be offered shall be expressed by the following ratio: Unit Commitment = Underwriting Percentage Total Units The final determination of the respective Underwriting Percentages of all Underwriters shall be made by you as of the date the Underlying Debt Obligations or Underlying Securities are deposited in the Trust. You are authorized to increase or decrease the number of Units (and, correspondingly, the amount of Underlying Debt Obligations or Underlying Securities Obligations) to be offered if you shall deem it advisable and practicable to do so. In the event you shall elect to decrease the number of Units hereunder, you shall have the right to decrease our Unit Commitment proportionately by notifying us of C/M 11939.0001 406222.1 11 such election by telephone and promptly confirm by telegraph or writing. You are authorized to amend Schedule A to add additional Underwriters as you deem advisable in which case such Underwriters shall be deemed to have been parties to this Agreement as of the date of its confirmation by you. Any deletion of Underwriters from Schedule A by you to reflect their withdrawal from this underwriting participation shall be subject to reservation of all our rights with respect to them conferred in us by this Agreement.

Appears in 1 contract

Samples: Municipal Securities Trust Series 46 & 74th Discount Ser

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Underwriting Commitment. We hereby commit on the terms and conditions of this Agreement to purchase and pay for the number of Units set forth opposite our name in Schedule B A ("Unit Commitment"). Except for the right to decrease our Unit Commitment granted to you above, and except as provided in Section 11, our Unit Commitment may be increased or decreased only by mutual written agreement between us and you at any time prior to the date the Underlying Debt Obligations or Underlying Securities are deposited in the Trust. Our percentage interest ("Underwriting Percentage") and the percentage interest of each Underwriter in the total Units to be offered shall be as expressed by the following ratio: Unit Commitment commitment = Underwriting Percentage Total Units The final determination of the respective Underwriting Percentages of all Underwriters shall be made by you as of the date the Underlying Debt Obligations or Underlying Securities are deposited in the Trust. You are authorized to increase or decrease the number of Units (and, correspondingly, the amount of Underlying Debt Obligations or Underlying Securities Obligations) to be offered by a maximum of 50% if you shall deem it advisable and practicable to do so. In the event you shall elect to decrease the number of Units hereunder, you shall have the right but not the obligation to decrease our Unit Commitment proportionately by notifying us of such election by telephone and promptly confirm by telegraph or writing. You are authorized to amend Schedule A to add additional Underwriters as you deem advisable in which case such Underwriters shall be deemed to have been parties to this Agreement as of the date of its confirmation by you. Any deletion of Underwriters from Schedule A by you to reflect their withdrawal from this underwriting participation shall be subject to reservation of all our rights with respect to them conferred in us by this Agreement.

Appears in 1 contract

Samples: Municipal Securities Trust 40 and 68th Discount Series

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