Common use of Default Clause in Contracts

Default. If one or more Underwriters shall fail at the Time of Purchase or an Option Securities Settlement Date to purchase the Securities which it or they are obligated to purchase under this Agreement (the “Defaulted Securities”), then the Representative shall have the right, within 24 hours thereafter, to make arrangements for one of or more of the non-defaulting Underwriters or any other underwriters to purchase all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; provided, however, that if such arrangements shall not have been completed within such 24-hour period, then: (i) if the number of Defaulted Securities does not exceed 10% of the number of Securities to be so purchased by all of the Underwriters on such date, the non-defaulting Underwriters shall be obligated, severally and not jointly, to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears to the purchase obligations of all non-defaulting Underwriters; or (ii) if the number of Defaulted Securities exceeds 10% of the number of Securities to be so purchased by all of the Underwriters on such date, this Agreement or, with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, and the Company to sell, the Option Securities to be purchased and sold on such Option Securities Settlement Date shall terminate without liability on the part of any non-defaulting Underwriter. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter from liability in respect of its default. In the event of any such default which does not result in a termination of this Agreement, or, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may be, either the Representative or the Company shall have the right to postpone the Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period not exceeding seven (7) days in order to effect any required changes in the Registration Statement, the Disclosure Package or the Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7.

Default. If any one or more Underwriters shall fail at the Closing Time of Purchase or an Option Securities Settlement Date to purchase and pay for any of the Securities which it Certificates agreed to be purchased by such Underwriter or they are obligated Underwriters pursuant to this Agreement and such failure to purchase shall constitute a default in the performance of its or their obligations under this Agreement Agreement, the remaining Underwriters shall be obligated severally to take up and pay for (in the “Defaulted Securities”)respective proportions which the aggregate face amount of Certificates specified to be purchased by each of them in Schedule I hereto bears to the aggregate face amount of Certificates to be purchased by all the remaining Underwriters) the Certificates which the defaulting Underwriter or Underwriters agreed but failed to purchase; provided, then however, that in the Representative event that the aggregate face amount of Certificates that the defaulting Underwriter or Underwriters agreed but failed to purchase shall exceed 10% of the aggregate face amount of Certificates to be purchased pursuant to this Agreement, the remaining Underwriters shall have the right, but not the obligation within 24 hours thereafter, to make arrangements for one of or more of the non-defaulting Underwriters or any other underwriters to purchase all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon Certificates, and upon the terms herein set forth; provided, however, that if such nondefaulting Underwriters do not complete such arrangements shall not have been completed within such 24-24 hour period, then: (i) if the number of Defaulted Securities does not exceed 10% of the number of Securities to be so purchased by all of the Underwriters on such date, the non-defaulting Underwriters shall be obligated, severally and not jointly, to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears to the purchase obligations of all non-defaulting Underwriters; or (ii) if the number of Defaulted Securities exceeds 10% of the number of Securities to be so purchased by all of the Underwriters on such date, then this Agreement or, with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, and the Company to sell, the Option Securities to be purchased and sold on such Option Securities Settlement Date shall will terminate without liability on to any nondefaulting Underwriters or the part of any non-defaulting Underwriter. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter from liability in respect of its defaultCompany. In the event of any such termination, the provisions of Sections 5, 6 and 8 hereof shall remain in effect. In the event of a default which by any Underwriter as set forth in this Section 7 that does not result in a termination of this Agreement, orthe Closing Time shall be postponed for such period, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securitiesexceeding seven days, as the case may be, either the Representative nondefaulting Underwriters or the Company shall have the right to postpone the Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period not exceeding seven (7) days determine in order to effect any that the required changes in the Registration Statement, the General Disclosure Package or and the Final Prospectus or in any other documents or arrangementsarrangements may be effected. As used hereinNothing contained in this Agreement shall relieve any defaulting Underwriter of its liability, if any, to the term “Underwriter” includes Company and to any person substituted nondefaulting Underwriters for an Underwriter under this Section 7damages occasioned by its default hereunder.

Default. If one or more Underwriters shall fail at the Time of Purchase or an Option Securities Settlement Date to purchase the Securities which it or they are obligated to purchase under this Agreement (the “Defaulted Securities”), then the Representative Representatives shall have the right, within 24 hours thereafter, to make arrangements for one of or more of the non-defaulting Underwriters or any other underwriters to purchase all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; provided, however, that if such arrangements shall not have been completed within such 24-hour period, then: (i) if the number of Defaulted Securities does not exceed 10% of the number of Securities to be so purchased by all of the Underwriters on such date, the non-defaulting Underwriters shall be obligated, severally and not jointly, to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears to the purchase obligations of all non-defaulting Underwriters; or (ii) if the number of Defaulted Securities exceeds 10% of the number of Securities to be so purchased by all of the Underwriters on such date, this Agreement or, with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, and the Company to sell, the Option Securities to be purchased and sold on such Option Securities Settlement Date shall terminate without liability on the part of any non-defaulting Underwriter. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter from liability in respect of its default. In the event of any such default which does not result in a termination of this Agreement, or, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may be, either the Representative Representatives or the Company shall have the right to postpone the Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period not exceeding seven (7) days in order to effect any required changes in the Registration Statement, the Disclosure Package or the Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7.

Default. 21.1 If one or any party (“the defaulting party”) commits a breach of this agreement and persists with such breach for more Underwriters shall fail at the Time of Purchase or an Option Securities Settlement Date than 7 (SEVEN) days after being called upon in writing to purchase the Securities which it or they are obligated to purchase under this Agreement (the “Defaulted Securities”)rectify same, then the Representative innocent party shall have the right, within 24 hours thereafter, be entitled (but not obligated) without prejudice to make arrangements for one of or more of the non-defaulting Underwriters or any other underwriters rights or remedies which it may have in law, including the right to purchase all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; provided, however, that if such arrangements shall not have been completed within such 24-hour period, thenclaim damages: (i) if the number of Defaulted Securities does not exceed 10% of the number of Securities 21.1.1 to be so purchased by all of the Underwriters on such date, the non-defaulting Underwriters shall be obligated, severally cancel this agreement and not jointly, to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears to the purchase obligations of all non-defaulting Underwritersclaim damages; or (ii) 21.1.2 to claim immediate performance and/or payment of all the defaulting party’s outstanding obligations in terms hereof and claim damages. 21.2 Upon cancellation by virtue of default, and should the defaulting party have been the Purchaser, the Seller shall be entitled to retain the deposit as reasonable pre-estimated damages in addition to the further rights set out in the breach paragraph above. 21.3 Upon cancellation by virtue of default, and should the defaulting party have been the Seller, the Seller shall pay to the Purchaser an amount equal to the deposit paid by the Purchaser and the Purchaser shall be entitled to retain this amount as reasonable pre-estimated damages in addition to the further rights set out in the breach paragraph above. 21.4 Should the defaulting party be the Purchaser, and should the Purchaser dispute the Seller’s right to cancel and remain in occupation of the unit after date of cancellation, the Purchaser shall continue to pay the occupational rental, the municipal charges and the levy and any other amounts as if the number agreement had not been cancelled. The Seller shall be entitled to claim and accept payment of Defaulted Securities exceeds 10% such amounts without prejudice to the Seller’s claim for cancellation and return of the number of Securities to be so purchased by all possession of the Underwriters apartment to the Seller. 21.5 Should a party (“the guilty party”) breach this agreement and the other party (“the innocent party”) elect not to exercise its right to cancel this agreement but instead to institute proceedings seeking an order that obligates the guilty party to perform in terms of this agreement, that election by the innocent party will not be final and will not prevent the innocent party from exercising its right to cancel this agreement at a later date based on the same instance of breach for which legal proceedings were instituted. 21.6 Notwithstanding the provisions of paragraph 21.1, neither party shall be entitled to cancel the agreement after 7 (SEVEN) days’ notice if the breach complained of is not reasonably capable of being remedied in the 7 (SEVEN) day period. In such date, this Agreement or, with respect an event the notice placing the defaulting party on terms to any Option Securities Settlement Date, perform shall only entitle the obligation cancellation of the Underwriters agreement if the period given to purchase, and the Company to sell, the Option Securities to be purchased and sold on such Option Securities Settlement Date shall terminate without liability on the part of any non-defaulting Underwriter. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter from liability in respect of its default. In the event of any such default which does not result in a termination of this Agreement, or, perform is reasonable in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may be, either the Representative or the Company shall have the right to postpone the Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period not exceeding seven (7) days in order to effect any required changes in the Registration Statement, the Disclosure Package or the Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7circumstances.

Default. If one (a) For the avoidance of doubt, a failure by the Lessee to perform or more Underwriters shall fail at the Time comply with any of Purchase or an Option Securities Settlement Date to purchase the Securities which it or they are obligated to purchase its obligations under this Agreement clause 3 is an Event of Default and a breach of an essential term of the Lease (the “Defaulted SecuritiesDevelopment Default”), then the Representative shall have the right, within 24 hours thereafter, . (b) Without prejudice to make arrangements for one of or more of the non-defaulting Underwriters or any other underwriters rights or remedies available to purchase allthe Lessor, but not less than all, if the Lessor terminates this Lease pursuant to clause 19 on the occurrence of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; provided, however, that if such arrangements shall not have been completed within such 24-hour period, thena Development Default: (i) if the number of Defaulted Securities does not exceed 10% Lessee shall, unless otherwise directed by the Lessor, within sixty (60) days from the date upon which the Lessor terminates the Lease remove from the Leased Premises the Lessee’s Works in compliance with the Works Conditions and make good the Leased Premises to the satisfaction of the number of Securities to be so purchased by all of the Underwriters on such date, the non-defaulting Underwriters shall be obligated, severally and not jointly, to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears to the purchase obligations of all non-defaulting Underwriters; orLessor; (ii) if the number of Defaulted Securities exceeds 10% termination of the number of Securities Lease shall be without prejudice to be so purchased by all the obligations of the Underwriters Lessee to pay the Lessor any moneys which shall be due and owing as at the date on such date, which the Lessor terminates the Lease; and (iii) the Lessee shall pay to the Lessor on demand all costs and expenses incurred by the Lessor as a consequence of the Lessee's Development Default and in the exercise of the rights of the Lessor under this Agreement or, clause 3.8. (c) Should the Lessee not comply with respect its obligation under clause 3.8(b)(i) above the Lessor shall be at liberty to exercise any Option Securities Settlement Dateof the rights conferred on the Lessor pursuant to clause 21.5 of the Lease. (d) Until the Leased Premises are restored in accordance with the Lease (whether by the Lessee or the Lessor) or until the Lessor elects to take the absolute property in the Lessee’s property (which includes the Lessee’s Building and Fixtures) left after termination, the obligation of Lessee shall continue to pay the Underwriters to purchaseRent, outgoings and the Company to sell, the Option Securities to be purchased and sold on such Option Securities Settlement Date shall terminate without liability on the part of any non-defaulting Underwriter. No action taken all other payments pursuant to this Section 7 shall relieve any defaulting Underwriter from liability in respect of its default. In Lease as if the event of any such default which does not result in a termination of this Agreement, or, Lessee were holding over in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may be, either the Representative or the Company shall have the right to postpone the Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period not exceeding seven (7) days in order to effect any required changes in the Registration Statement, the Disclosure Package or the Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7Leased Premises.

Default. If one or more Underwriters shall fail at the Time of Purchase or an Option Securities Settlement Date to purchase the Securities which it or they are obligated to purchase under this Agreement (the “Defaulted Securities”), then the Representative Representatives shall have the right, within 24 hours thereafter, to make arrangements for one of or more of the non-defaulting Underwriters or any other underwriters to purchase all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; provided, however, that if such arrangements shall not have been completed within such 24-hour period, then: (i) if the number of Defaulted Securities does not exceed 10% of the number of Securities to be so purchased by all of the Underwriters on such date, the non-defaulting Underwriters shall be obligated, severally and not jointly, to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears to the purchase obligations of all non-defaulting Underwriters; or (ii) if the number of Defaulted Securities exceeds 10% of the number of Securities to be so purchased by all of the Underwriters on such date, this Agreement or, with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, and the Company to sell, the Option Securities to be purchased and sold on such Option Securities Settlement Date shall terminate without liability on the part of any non-defaulting Underwriter. No action taken pursuant to this Section 7 ‎7 shall relieve any defaulting Underwriter from liability in respect of its default. In the event of any such default which does not result in a termination of this Agreement, or, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may be, either the Representative Representatives or the Company shall have the right to postpone the Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period not exceeding seven (7) days in order to effect any required changes in the Registration Statement, the Disclosure Package or the Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7‎7.

Default. If one or more Underwriters shall fail at the Time a party fails to perform any of Purchase or an Option Securities Settlement Date to purchase the Securities which it or they are obligated to purchase its obligations under this Agreement and that failure continues for a period of ten (10) days after written notice to it, that defaulting party shall be deemed to be in default (an "Event of Default"). Upon the “Defaulted Securities”)occurrence of any Event of Default, then the Representative non-defaulting party shall have the right, within 24 hours thereafterat its option to: (1) terminate this Agreement by giving written notice to the defaulting party, which shall be effective as of the date given; (2) if a monetary default by Buyer, the Supplier shall have the additional rights to (a) foreclose its security interest by any available judicial procedure; or (b) lawfully take possession of the goods and merchandise, or such part thereof, as remains in Buyer’s possession, and any and all proceeds of such goods and merchandise as have been sold, wherever and in whatever form they may be, and for purposes of repossession, Supplier, or its representatives, may enter any premises without legal process, and Buyer hereby waives and releases Supplier of, and from, any and all claims in connection therewith or arising there from; Buyer agrees, upon demand of Supplier, to assemble the arising the Goods and make arrangements for one of them available to Supplier at a place reasonably convenient to both parties. Any parts, equipment or more accessories place upon or attached to any of the non-defaulting Underwriters or any other underwriters Goods shall become component parts thereof and shall inure to purchase all, but not less than all, the benefit of Supplier; and/or (c) accept the Goods in discharge of the Defaulted Securities obligations secured by this Agreement. Except in such amounts as may be agreed upon and upon the terms herein set forth; provided, however, that if such arrangements shall not have been completed within such 24-hour period, then: (i) if case where the number of Defaulted Securities does not exceed 10% Supplier accepts the Goods in discharge of the number of Securities to be so purchased obligations secured by all of this Agreement, Buyer shall remain liable for any deficiency between the Underwriters on such date, the non-defaulting Underwriters shall be obligated, severally and not jointly, to purchase the full unpaid amount thereof in the proportions that their respective initial purchase obligation bears to the purchase obligations of all non-defaulting Underwriters; or (ii) if the number of Defaulted Securities exceeds 10% of the number of Securities to be so purchased by all of the Underwriters on such date, due under this Agreement or, with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, and the Company to sellproceeds of such as sale or foreclosure. If any amount owing under this Agreement is not paid when due, such amount shall bear interest at the Option Securities to be purchased and sold on such Option Securities Settlement Date shall terminate without liability on rate of eighteen (18%) percent per annum from the part due date until it is paid. The provisions of any non-defaulting Underwriter. No action taken pursuant to this Section 7 6 shall relieve any defaulting Underwriter from liability in respect of its default. In the event of any such default which does not result in a survive termination of this Agreement. 6.1 In any action or proceeding brought to enforce any provision of this Agreement, oror where any provision of this Agreement is validly asserted as a defense, the prevailing party shall be entitled to recover reasonable attorneys' fees from the non-prevailing party, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters addition to purchase and the Company to sell the relevant Option Securities, as the case may be, either the Representative or the Company shall have the right to postpone the Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period not exceeding seven (7) days in order to effect any required changes in the Registration Statement, the Disclosure Package or the Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7available remedy.

Default. If any one or more Underwriters shall fail at the Closing Time of Purchase or an Option Securities Settlement Date to purchase and pay for any of the Securities which it Class B Certificates agreed to be purchased by such Underwriter or they are obligated Underwriters pursuant to this Agreement and such failure to purchase shall constitute a default in the performance of its or their obligations under this Agreement Agreement, the remaining Underwriters shall be obligated severally to take up and pay for (in the “Defaulted Securities”)respective proportions which the aggregate face amount of Class B Certificates specified to be purchased by each of them in Schedule I hereto bears to the aggregate face amount of Class B Certificates to be purchased by all the remaining Underwriters) the Class B Certificates which the defaulting Underwriter or Underwriters agreed but failed to purchase; provided, then however, that in the Representative event that the aggregate face amount of Class B Certificates that the defaulting Underwriter or Underwriters agreed but failed to purchase shall exceed 10% of the aggregate face amount of Class B Certificates to be purchased pursuant to this Agreement, the remaining Underwriters shall have the right, but not the obligation within 24 hours thereafter, to make arrangements for one of or more of the non-defaulting Underwriters or any other underwriters to purchase all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon Class B Certificates, and upon the terms herein set forth; provided, however, that if such nondefaulting Underwriters do not complete such arrangements shall not have been completed within such 24-24 hour period, then: (i) if the number of Defaulted Securities does not exceed 10% of the number of Securities to be so purchased by all of the Underwriters on such date, the non-defaulting Underwriters shall be obligated, severally and not jointly, to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears to the purchase obligations of all non-defaulting Underwriters; or (ii) if the number of Defaulted Securities exceeds 10% of the number of Securities to be so purchased by all of the Underwriters on such date, then this Agreement or, with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, and the Company to sell, the Option Securities to be purchased and sold on such Option Securities Settlement Date shall will terminate without liability on to any nondefaulting Underwriters or the part of any non-defaulting Underwriter. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter from liability in respect of its defaultCompany. In the event of any such termination, the provisions of Sections 5, 6 and 8 hereof shall remain in effect. In the event of a default which by any Underwriter as set forth in this Section 7 that does not result in a termination of this Agreement, orthe Closing Time shall be postponed for such period, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securitiesexceeding seven days, as the case may be, either the Representative nondefaulting Underwriters or the Company shall have the right to postpone the Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period not exceeding seven (7) days determine in order to effect any that the required changes in the Registration Statement, the General Disclosure Package or and the Final Prospectus or in any other documents or arrangementsarrangements may be effected. As used hereinNothing contained in this Agreement shall relieve any defaulting Underwriter of its liability, if any, to the term “Underwriter” includes Company and to any person substituted nondefaulting Underwriters for an Underwriter under this Section 7damages occasioned by its default hereunder.

Default. If one 1. In the event the Exchange Member Customer’s membership on the relevant exchange is suspended or more Underwriters terminated or the Exchange Member Customer is in any other way disabled from trading on the relevant exchange, the Exchange Member Customer shall fail at immediately notify SFP in writing of such event. Upon the Time occurrence of Purchase any of such events, SFP shall be entitled, by oral or an Option Securities Settlement Date written notice to purchase the Securities which it or they are obligated to purchase under this Agreement (the “Defaulted Securities”), then the Representative shall have the right, within 24 hours thereafterExchange Member Customer, to make arrangements for do one of or more of the non-defaulting Underwriters following in SFP’s absolute discretion: (a) terminate this Clearing Agreement, the Customer Agreement, or both; (b) require the Exchange Member Customer to immediately repay or deliver all monies and property under the Exchange Member Customer’s account(s) with SFP whereon such repayments and deliveries shall immediately become due, owing, payable and deliverable, including but not limited to, commodities borrowed or deliverable, interest thereon, commission and other fees or costs payable to the Exchange Member Customer; (c) require the Exchange Member Customer to immediately satisfy and perform any and all other liabilities and obligations in respect of the Exchange Member Customer’s account(s) with SFP; and (d) liquidate all Exchange Transactions in the Exchange Member Customer’s account(s) with SFP (with all resulting losses therefrom being borne solely by the Exchange Member Customer). 2. Without prejudice to any provision in this Clearing Agreement, SFP may at any time without prior notice to the Exchange Member Customer, and without assigning any reason whatsoever and in SFP’s absolute discretion, terminate SFP’s provision of clearing arrangements hereunder in accordance with the rules of the relevant exchange or clearing house and SFP shall be entitled, by oral or written notice to the Exchange Member Customer, to do one or more of the following in SFP’s absolute discretion: (a) terminate this Clearing Agreement, the Customer Agreement, or both; (b) require the Exchange Member Customer to immediately repay or deliver all monies and property due under the Customer’s Account(s) with SFP whereon such repayments and deliveries shall immediately become due, owing, payable and deliverable, including but not limited to, commodities borrowed or deliverable, interest thereon, commission and other fees or costs payable by SFP; (c) require the Exchange Member Customer to immediately satisfy and perform any and all liabilities and obligations in respect of the Exchange Member Customer’s account(s) with SFP; and (d) liquidate all Exchange Transactions in the Exchange Member Customer’s account(s) with SFP (with all resulting losses therefrom being borne solely by the Exchange Member Customer). 3. Upon the termination of this Clearing Agreement, the Customer Agreement or the termination of SFP’s qualification of the Exchange Member Customer or provision of clearing arrangements to the Exchange Member Customer hereunder for whatsoever reason, either SFP or the Exchange Member Customer shall inform the relevant exchange or clearing house (as required) accordingly. 4. In the event of: (a) the Exchange Member Customer’s failing to make any delivery or payment or to satisfy or perform any other liabilities or obligations due to SFP on demand by SFP; (b) the Exchange Member Customer’s failing to liquidate all Exchange Transactions upon the termination of this Clearing Agreement and/or the Customer Agreement or SFP’s qualification of the Exchange Member Customer or provision of clearing arrangement to the Exchange Member Customer hereunder; (c) the Exchange Member Customer’s failing to meet any margin requirement or any other underwriters to purchase all, obligation under this Clearing Agreement or the Customer Agreement; or (d) SFP deeming it desirable for SFP or the Exchange Member Customer’s protection including but not less than alllimited to an instance where any proceedings for the Exchange Member Customer’s winding up or liquidation or for the appointment of a receiver or judicial manager against the Exchange Member Customer or over the Exchange Member Customer’s assets is commenced, or an attachment is levied against the Exchange Member Customer’s account(s) or any of the Defaulted Securities Exchange Member Customer’s properties; then without prejudice to SFP’s other rights and remedies (including but not limited to those set out in such amounts as Clause 1.17 of the Customer Agreement), SFP may be agreed upon in its absolute discretion and upon without notice to the terms herein set forth; provided, however, that if such arrangements shall not have been completed within such 24-hour period, thenExchange Member Customer: (i) if liquidate any or all the number of Defaulted Securities does not exceed 10% of Exchange Member Customer’s Exchange Transactions (with all resulting losses therefrom being borne solely by the number of Securities to be so purchased by all of the Underwriters on such date, the non-defaulting Underwriters shall be obligated, severally and not jointly, to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears to the purchase obligations of all non-defaulting Underwriters; orExchange Member Customer); (ii) if the number of Defaulted Securities exceeds 10% hedge and/or offset all or any of the number of Securities Exchange Member Customer’s Exchange Transactions at the Exchange Member Customer’s sole risk; (iii) take and convert any deposits which the Exchange Member Customer may have with SFP; (iv) call upon any security which may have been issued to be so purchased by SFP to secure the Exchange Member Customer’s Account(s); (v) combine, consolidate and set-off all of the Underwriters on such date, this Agreement or, with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, and the Company to Exchange Member Customer’s Account(s); and (vi) sell, dispose or realise in any manner SFP deems fit anything including all property belonging to or deposited by the Option Securities Exchange Member Customer and in SFP’s possession or control or held by SFP and apply the proceeds thereof to extinguish or diminish the Exchange Member Customer’s obligations towards SFP including the payment of interest, commission and other costs and expenses. 5. Any action referred to in this Clause A.6.1.8 may be purchased taken without demand for margin or additional margin, notice of sale or purchase or other notice and sold any such actions including sales or purchases may be made at SFP’s discretion on any exchange or market where such Option Securities Settlement Date shall terminate without liability on business is then usually transacted. 6. The Exchange Member Customer hereby undertakes to repay upon demand any deficiency thereafter remaining in the part of any non-defaulting Underwriter. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter from liability in respect of its defaultExchange Member Customer’s Account(s) with SFP. In the event of that SFP shall in its discretion decide not to take any such default which does not result in a termination of this Agreement, or, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters action referred to purchase and the Company to sell the relevant Option Securities, as the case may be, either the Representative or the Company shall have the right to postpone the Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period not exceeding seven (7) days in order to effect any required changes in the Registration Statement, the Disclosure Package or the Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7Clause A.6.

Default. If one Seller fails to make delivery of the Materials, in accordance with the delivery dates specified in this Purchase Order, fails to perform any of the requirements or more Underwriters to perform any of the other provisions of this Purchase Order, or fails to make progress so as to endanger performance of this Purchase Order in accordance with its terms and does not cure such latter failure within ten (10) days after notice from the Buyer, Buyer may (in addition to any other right or remedy provided by this Purchase Order or by law) terminate all or any part of this Purchase Order by written notice to Seller without liability and purchase substitute goods elsewhere, and Seller shall fail be liable to Buyer for any excess cost occasioned Buyer thereby. Seller shall continue performance of this Purchase Order to the extent not terminated pursuant to this Clause 21(b). Except with respect to defaults of subcontractors at any tier, Seller shall not be liable to Buyer for any excess costs if the Time failure to perform this Purchase Order arises out of causes beyond the control and without the fault or negligence of the Seller. If the failure to perform is caused by the default of a subcontractor at any tier, and if such default arises out of causes beyond the control of both the Seller and subcontractor, and without the fault or negligence of either of them, the Seller shall not be liable for any excess costs for failure to perform to Buyer, unless the Materials to be furnished by the subcontractor were obtainable from other sources in sufficient time to permit the Seller to meet the requirements of this Purchase or an Option Securities Settlement Date to purchase the Securities which it or they are obligated to purchase under Order. If this Agreement (the “Defaulted Securities”Purchase Order is terminated as provided in this Clause 21(b), then the Representative shall have the rightBuyer, within 24 hours thereafter, in addition to make arrangements for one of or more of the non-defaulting Underwriters or any other underwriters rights provided herein, may require the Seller to purchase all, but not less than all, of transfer title and deliver to the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; provided, however, that if such arrangements shall not have been completed within such 24-hour period, then: Buyer: (i) if the number of Defaulted Securities does not exceed 10% of the number of Securities to be so purchased by all of the Underwriters on such dateany completed Materials, the non-defaulting Underwriters shall be obligated, severally and not jointly, to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears to the purchase obligations of all non-defaulting Underwriters; or (ii) if such partially completed Materials, parts, tools, dies, jigs, fixtures, plans, drawings, information, and contract rights as the number Seller has specifically produced or specifically acquired for performance of Defaulted Securities exceeds 10% this Purchase Order. If, after notice of the number termination of Securities this Purchase Order "with cause," it is determined that the failure to be so purchased by all perform is due to causes totally beyond the control and totally without the fault or negligence of the Underwriters on Seller, such date, this Agreement or, with respect notice of default shall be deemed to any Option Securities Settlement Date, the obligation of the Underwriters have been issued pursuant to purchaseClause 21(a) hereof, and the Company to sell, the Option Securities to be purchased rights and sold on such Option Securities Settlement Date shall terminate without liability on the part of any non-defaulting Underwriter. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter from liability in respect of its default. In the event of any such default which does not result in a termination of this Agreement, or, in the case of an Option Securities Settlement Date, which does not result in a termination obligations of the obligation parties hereto shall be governed by Clause 21(a). The rights and remedies of the Underwriters Buyer in this Clause are in addition to purchase and the Company to sell the relevant Option Securities, as the case may be, either the Representative or the Company shall have the right to postpone the Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period not exceeding seven (7) days in order to effect any required changes in the Registration Statement, the Disclosure Package or the Prospectus or in any other documents rights and remedies provided by law or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7Purchase Order.

Default. (a) If one or more Underwriters shall fail at the Time of Purchase or an Option Securities Settlement Date to purchase the Securities which it or they are obligated to purchase under this Agreement (the “Defaulted Securities”), then the Representative Representatives shall have the right, within 24 hours thereafter, to make arrangements for one of or more of the non-defaulting Underwriters or any other underwriters to purchase all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; provided, however, that if such arrangements shall not have been completed within such 24-hour period, then: (i) if the number of Defaulted Securities does not exceed 10% of the number of Securities to be so purchased by all of the Underwriters on such date, the non-defaulting Underwriters shall be obligated, severally and not jointly, to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears to the purchase obligations of all non-defaulting Underwriters; or (ii) if the number of Defaulted Securities exceeds 10% of the number of Securities to be so purchased by all of the Underwriters on such date, this Agreement or, with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, and the Company to sell, the Option Securities to be purchased and sold on such Option Securities Settlement Date shall terminate without liability on the part of any non-defaulting Underwriter. No action taken pursuant to this Section 7 7(a) shall relieve any defaulting Underwriter from liability in respect of its default. In the event of any such default which does not result in a termination of this Agreement, or, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may be, either the Representative Representatives or the Company shall have the right to postpone the Time of Purchase or the relevant Option Securities Settlement Date, as the case may bePurchase, for a period not exceeding seven (7) days in order to effect any required changes in the Registration Statement, the Disclosure Package or the Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 77(a).

Default. If one or more Underwriters (a) Notwithstanding anything to the contrary contained in this Agreement, the occurrence of the following events shall fail at the Time of Purchase or an Option Securities Settlement Date to purchase the Securities which it or they are obligated to purchase under constitute a default under, and a breach of, this Agreement (the a “Defaulted SecuritiesDefault”), then the Representative shall have the right, within 24 hours thereafter, to make arrangements for one of or more of the non-defaulting Underwriters or any other underwriters to purchase all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; provided, however, that if such arrangements shall not have been completed within such 24-hour period, then:): (i) any failure to make a Quarterly Payment, a Cash True-Up Payment or Accrued Amount when due and payable (except any such amount subject to a Financial Covenant Deferral or a Default Deferral); (ii) any material breach of this Agreement that is not curable or, if curable, is not cured within thirty (30) days of written notice thereof; (iii) the number failure by Homes or any of Defaulted Securities does not exceed 10% its Restricted Subsidiaries to make any payment when due (after giving effect to any applicable grace period) under any Material Indebtedness; or (iv) any default in the performance of any agreement or condition contained in the number Principal Credit Agreement, or any other event or condition, the effect of Securities which default or other event or condition is to cause, or to permit the creditors under the Principal Credit Agreement to cause, the indebtedness under the Principal Credit Agreement to become due prior to its stated maturity or to be so purchased by all required to be repurchased, prepaid, redeemed or deferred prior to its stated maturity; provided, that, (A) in the case of clause (iv) above, any such Default shall be deemed to have occurred only if (x) sixty (60) calendar days have passed since the Underwriters first date on which a Default would otherwise have been deemed to occur thereunder (such date, the non-defaulting Underwriters shall be obligated, severally “Default Date”) and not jointly, to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears (y) thirty (30) calendar days have passed since Indemnitee provides written notice (an “Indemnity Default Notice”) of such default to the purchase obligations Senior Agent (and each Financial Representative for any other Senior Indebtedness having commitments or an outstanding principal amount of all non-defaulting Underwriters; or (ii) if at least $25,000,000), which such Indemnity Default Notice may be delivered on or after the number of Defaulted Securities exceeds 10% of the number of Securities to be so purchased by all of the Underwriters on such date, this Agreement or, with respect to any Option Securities Settlement Default Date, the obligation of the Underwriters to purchase, and the Company to sellduring such sixty (60) calendar day and thirty (30) calendar day periods, the Option Securities to be purchased and sold on such Option Securities Settlement Date shall terminate without liability on relevant creditors under the part of any non-defaulting Underwriter. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter from liability in respect of its default. In the event of any Principal Credit Agreement have not waived such default which does not result in a termination of this Agreement, or, and (B) in the case of an Option Securities Settlement Dateclauses (i), which does not result in a termination of the obligation of the Underwriters (ii) and (iii) above, any such Default shall be deemed to purchase and the Company to sell the relevant Option Securities, as the case may be, either the Representative or the Company shall have the right to postpone the Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period not exceeding seven occurred only if thirty (730) days in order have passed since Indemnitee provides an Indemnity Default Notice to effect the Senior Agent (and each Financial Representative for any required changes in the Registration Statementother Senior Indebtedness having commitments or outstanding principal amount of at least $25,000,000) and during such thirty (30) calendar day period, the Disclosure Package or the Prospectus or Indemnitee has not waived such default. (b) Promptly, and in any other documents event within five (5) Business Days, upon obtaining knowledge of any Default, Indemnitor shall deliver notice of such Default to Indemnitee in accordance with Section 4.8, specifying the nature of such Default and what actions Indemnitor has taken, is taking or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7proposes to take with respect thereto.

Default. (a) If one or more Underwriters any Underwriter shall fail at the Time of Purchase or an Option Securities Settlement Date default in its obligation to purchase the Securities Certificates which it or they are obligated has agreed to purchase under this Agreement (hereunder, you may in your discretion arrange for you or another party or other parties to purchase such Certificates on the “Defaulted Securities”)terms contained herein. If within thirty-six hours after such default by any Underwriter you do not arrange for the purchase of such Certificates, then the Representative Company shall be entitled to a further period of thirty-six hours within which to procure another party or other parties satisfactory to you to purchase such Certificates on such terms. In the event that, within the respective prescribed periods, you notify the Company that you have so arranged for the purchase of such Certificates, or the Company notifies you that it has so arranged for the purchase of such Certificates, you or the Company shall have the rightright to postpone the Closing Date for a period of not more than seven days, within 24 hours thereafterin order to effect whatever changes may thereby be made necessary in the Prospectus, or in any other documents or arrangements, and the Company agrees to prepare promptly any amendments to the Prospectus which in your reasonable opinion may thereby be made necessary. The term “Underwriter” as used in this Agreement shall include any person substituted under this Section with like effect as if such person had originally been a party to this Agreement with respect to such Certificates. (b) If, after giving effect to any arrangements for the purchase of the Certificates of a defaulting Underwriter or Underwriters by you and the Company as provided in subsection (a) above, the aggregate principal amount of Certificates which remains unpurchased does not exceed one-eleventh of the aggregate principal amount of all the Certificates, then the Company shall have the right to require each non-defaulting Underwriter to purchase the principal amount of Certificates which such Underwriter agreed to purchase hereunder and, in addition, to make require each non-defaulting Underwriter to purchase its pro rata share (based on the principal amount of Certificates which such Underwriter agreed to purchase hereunder) of the Certificates of such defaulting Underwriter or Underwriters for which such arrangements have not been made; but nothing herein shall relieve a defaulting Underwriter from liability for its default. (c) If, after giving effect to any arrangements for one of or more the purchase of the Certificates of a defaulting Underwriter or Underwriters by you and the Company as provided in subsection (a) above, the aggregate principal amount of Certificates which remains unpurchased exceeds one-eleventh of the aggregate principal amount of all the Certificates, or if the Company shall not exercise the right described in subsection (b) above to require non-defaulting Underwriters or any other underwriters to purchase allCertificates of a defaulting Underwriter or Underwriters, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; provided, however, that if such arrangements shall not have been completed within such 24-hour period, then: (i) if the number of Defaulted Securities does not exceed 10% of the number of Securities to be so purchased by all of the Underwriters on such date, the non-defaulting Underwriters shall be obligated, severally and not jointly, to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears to the purchase obligations of all non-defaulting Underwriters; or (ii) if the number of Defaulted Securities exceeds 10% of the number of Securities to be so purchased by all of the Underwriters on such date, then this Agreement orshall thereupon terminate, with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, and the Company to sell, the Option Securities to be purchased and sold on such Option Securities Settlement Date shall terminate without liability on the part of any non-defaulting Underwriter. No action taken pursuant Underwriter or the Company, except for the expenses to this be borne by the Company and the Underwriters as provided in Section 5 hereof and the indemnity and contribution agreements in Section 7 hereof; but nothing herein shall relieve any a defaulting Underwriter from liability in respect of for its default. In the event of any such default which does not result in a termination of this Agreement, or, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may be, either the Representative or the Company shall have the right to postpone the Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period not exceeding seven (7) days in order to effect any required changes in the Registration Statement, the Disclosure Package or the Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7.

Default. If one or more Underwriters shall fail at the Time a party fails to perform any of Purchase or an Option Securities Settlement Date to purchase the Securities which it or they are obligated to purchase its obligations under this Agreement and that failure continues for a period of ten (10) days after written notice to it, that defaulting party shall be deemed to be in default (an "Event of Default"). Upon the “Defaulted Securities”)occurrence of any Event of Default, then the Representative non-defaulting party shall have the right, within 24 hours thereafterat its option to: (1) terminate this Agreement by giving written notice to the defaulting party, which shall be effective as of the date given; (2) if a monetary default by Buyer, the Supplier shall have the additional rights to (a) foreclose its security interest by any available judicial procedure; or (b) lawfully take possession of the goods and merchandise, or such part thereof, as remains in Buyer’s possession, and any and all proceeds of such goods and merchandise as have been sold, wherever and in whatever form they may be, and for purposes of repossession, Supplier, or its representatives, may enter any premises without legal process, and Buyer hereby waives and releases Supplier of, and from, any and all claims in connection therewith or arising there from; ▇▇▇▇▇ agrees, upon demand of Supplier, to assemble the arising the Goods and make arrangements for one of them available to Supplier at a place reasonably convenient to both parties. Any parts, equipment or more accessories place upon or attached to any of the non-defaulting Underwriters or any other underwriters Goods shall become component parts thereof and shall inure to purchase all, but not less than all, the benefit of Supplier; and/or (c) accept the Goods in discharge of the Defaulted Securities obligations secured by this Agreement. Except in such amounts as may be agreed upon and upon the terms herein set forth; provided, however, that if such arrangements shall not have been completed within such 24-hour period, then: (i) if case where the number of Defaulted Securities does not exceed 10% Supplier accepts the Goods in discharge of the number of Securities to be so purchased obligations secured by all of this Agreement, Buyer shall remain liable for any deficiency between the Underwriters on such date, the non-defaulting Underwriters shall be obligated, severally and not jointly, to purchase the full unpaid amount thereof in the proportions that their respective initial purchase obligation bears to the purchase obligations of all non-defaulting Underwriters; or (ii) if the number of Defaulted Securities exceeds 10% of the number of Securities to be so purchased by all of the Underwriters on such date, due under this Agreement or, with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, and the Company to sellproceeds of such as sale or foreclosure. If any amount owing under this Agreement is not paid when due, such amount shall bear interest at the Option Securities to be purchased and sold on such Option Securities Settlement Date shall terminate without liability on rate of eighteen (18%) percent per annum from the part due date until it is paid. The provisions of any non-defaulting Underwriter. No action taken pursuant to this Section 7 6 shall relieve any defaulting Underwriter from liability in respect of its default. In the event of any such default which does not result in a survive termination of this Agreement. 6.1 In any action or proceeding brought to enforce any provision of this Agreement, oror where any provision of this Agreement is validly asserted as a defense, the prevailing party shall be entitled to recover reasonable attorneys' fees from the non-prevailing party, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters addition to purchase and the Company to sell the relevant Option Securities, as the case may be, either the Representative or the Company shall have the right to postpone the Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period not exceeding seven (7) days in order to effect any required changes in the Registration Statement, the Disclosure Package or the Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7available remedy.

Default. If one or more of the Underwriters participating in an offering of Securities shall fail at the applicable Closing Time of Purchase or an Option Securities Settlement Date to purchase the Initial Underwritten Securities which it or they are obligated to purchase under this the applicable Terms Agreement (the “Defaulted Securities”), then the Representative shall have the right, within 24 hours thereafter, to make arrangements for one of or more of the non-defaulting Underwriters Underwriters, or any other underwriters underwriters, to purchase all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; provided. If, however, that if during such arrangements 24 hours the Representative shall not have been completed within such 24-hour periodarrangements for the purchase of all of the Defaulted Securities, then: (ia) if the number of Defaulted Securities does not exceed 10% of the number of the Initial Underwritten Securities to be so purchased by all of pursuant to the Underwriters on such dateTerms Agreement, the non-defaulting Underwriters named in such Terms Agreement shall be obligated, severally and not jointly, obligated to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears underwriting obligations thereunder bear to the purchase underwriting obligations of all such non-defaulting Underwriters; , or (iib) if the number of Defaulted Securities exceeds 10% of the number of Securities to be so purchased by all of the Underwriters on such date, this Agreement or, with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, and the Company to sell, the Option Initial Underwritten Securities to be purchased and sold on pursuant to such Option Securities Settlement Date Terms Agreement, the Terms Agreement shall terminate without any liability on the part of any non-defaulting UnderwriterUnderwriters or the Company. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter from liability in respect of its defaultany default of such Underwriter under this Agreement and the Terms Agreement. In the event of a default by any such default which does not result Underwriter or Underwriters as set forth in a termination of this Agreement, or, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may beSection, either the Representative or the Company shall have the right to postpone the applicable Closing Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period not exceeding seven (7) days in order to effect that any required changes in the Registration Statement, the Disclosure Package Statement or the Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7arrangements may be effected.

Default. If one or more Underwriters shall fail at Except as otherwise provided in this Agreement, if following the Time delivery of Purchase or an Option Securities Settlement Date a drawdown notice, a Unitholder fails to purchase fund a required capital commitment by the Securities which it or they are obligated to purchase under this Agreement applicable Capital Call Deadline and such failure remains uncured through the tenth calendar day following the applicable Capital Call Deadline (such tenth day, the “Defaulted SecuritiesLast Funding Date”), then such Unitholder shall be delinquent in its obligations. Any payments made by such Unitholder after the Representative applicable Last Funding Date (or any payments made prior to the Last Funding Date in amounts less than such Unitholder’s required capital commitment) will not be accepted by the Company, and such Unitholder, other than a Defaulting Unitholder (as defined below) will be required to fund such capital commitment together with any new required capital commitment, in respect of the next applicable Capital Call Deadline. A Unitholder shall have be deemed to be delinquent as to a Capital Call Deadline if it has failed to fund the rightrequired capital commitment for that Capital Call Deadline or if the Unitholder has any outstanding obligations in respect of a prior Capital Call Deadline, within 24 hours thereafter, which remain unsatisfied as of such Last Funding Date. Any Unitholder making a Commitment or increasing its Commitment on a Subsequent Closing Date that fails to make arrangements required purchases in accordance with 3.3.2 shall also be delinquent in its obligations for one purposes of or more of the non-defaulting Underwriters or this 6. 2.1. If a Unitholder is delinquent upon three occasions at any other underwriters to purchase all, but not less than all, of the Defaulted Securities in point (such amounts as may be agreed upon and upon the terms herein set forth; provided, however, that if such arrangements shall occasions do not have been completed within to be consecutive), such 24-hour periodUnitholder (any such Unitholder, thena “Defaulting Unitholder”) will be in default of its obligations to the Company and the following remedies shall be imposed on such Defaulting Unitholder: (a) it will be prohibited from purchasing additional Common Units on any future Drawdown Date (and common units in the Parallel Feeder and the Master Fund); (b) it will forfeit twenty-five percent (25%) of its Common Units, and such Common Units will be cancelled; and (c) the Company may pursue any other remedies against the Defaulting Unitholder available to the Company, subject to applicable law. In addition, the Company may, in the Company’s sole discretion, (i) if charge the number of Defaulted Securities does not exceed 10% Defaulting Unitholder with the expenses and losses incurred by the Company due to the default of the number Defaulting Unitholder (with such expenses and losses charged by transferring Units of Securities to be so purchased by all such Defaulting Unitholder on the books of the Underwriters on such date, the non-defaulting Underwriters shall be obligated, severally and not jointly, to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears to the purchase obligations of all non-defaulting UnderwritersCompany); or and/or (ii) if the number of Defaulted Securities exceeds 10% of the number of Securities to be so purchased by all of the Underwriters on such date, this Agreement or, take other actions with respect to any Option Securities Settlement DateDefaulting Unitholders, including without limitation borrowing funds to cover defaulted capital calls, at a rate established with a third-party lender or using the obligation Company’s internal capital at a rate of eight percent (8%) per annum, and causing the Defaulting Unitholder to bear the interest and other costs associated with such borrowing. None of the Underwriters to purchase, and the Company to sell, the Option Securities to be purchased and sold on such Option Securities Settlement Date remedies discussed above shall terminate without liability on the part of any non-defaulting Underwriter. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter from liability in respect of its default. In the event of any such default which does not result in a termination reduction of this Agreement, or, in a Defaulting Unitholder’s Commitment or the case of an Option Securities Settlement Date, which does not result in a termination total Commitments of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may be, either the Representative or the Company shall have the right to postpone the Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period not exceeding seven (7) days in order to effect any required changes in the Registration Statement, the Disclosure Package or the Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7Company.

Default. If one or more Underwriters shall fail at (a) In the Time of Purchase or an Option Securities Settlement Date to purchase the Securities which it or they are obligated to purchase under this Agreement event any Member (the “Defaulted SecuritiesNon-Contributing Member”) fails to pay in full, on or before the applicable Contribution Date, any Additional Contribution required to be made by it (an “Unfunded Additional Contribution”), then any Member that has timely made its Additional Contribution in full (a “Contributing Member”) may elect to (i) loan to the Representative Company an amount equal to all or any portion of the Unfunded Additional Contribution (an “Additional Contribution Loan”), (ii) make an additional Capital Contribution in an amount equal to all or any portion of the Unfunded Additional Contribution (an “Excess Additional Contribution”) by (x) delivering written notice to the Company within five (5) Business Days following the Contribution Date and (y) paying such Additional Contribution Loan amount or Excess Additional Contribution amount to the Company within ten (10) Business Days following the Contribution Date or (iii) in the event that the Contributing Members do not elect to loan or fund any portion of the Unfunded Additional Contribution pursuant to clause (i) or (ii) of this Section 6.03(a), cause the Company to use its commercially reasonable efforts to sell New Interests in accordance with Section 6.03(e) in an amount equal to all or any portion of the Unfunded Additional Contribution; provided, however, for the avoidance of doubt, the Contributing Member shall have not be entitled to (x) make any Additional Contribution Loan or Excess Additional Contribution, individually or collectively, in an amount that exceeds such Unfunded Additional Contribution, or (y) cause the right, within 24 hours thereafter, Company sell New Interests in an amount that exceeds such Unfunded Additional Contribution. (b) If any Contributing Member elects to make arrangements for one an Additional Contribution Loan, such Additional Contribution Loan shall bear interest at the Default Rate, compounded weekly. All principal and accrued interest on outstanding Additional Contribution Loans shall be repaid by the Company in advance of or more any distributions to the Members. No approval of the non-defaulting Underwriters Board or of any other underwriters Directors shall be required for an Additional Contribution Loan. (c) In the event that the Contributing Member elects to purchase allmake an Excess Additional Contribution, but not less than all, then effective as of the Defaulted Securities Contribution Date: (i) The Gross Asset Value of all Company assets, and consequently the Capital Accounts of all Members, shall be adjusted pursuant to subparagraph (b) of the definition of Gross Asset Value herein (disregarding the proviso thereto) to reflect any unrealized gain or unrealized loss attributable to such Company assets, as if such unrealized gain or unrealized loss had been recognized on an actual sale of such assets immediately prior to such adjustment and had been allocated to the Members at such time pursuant to Section 7.02; (ii) Following application of Section 6.03(c)(i), the Ownership Percentage of each Member shall be automatically adjusted as of such date to equal the percentage obtained by dividing (A) the Capital Account of such Member (after giving effect to Section 6.03(c)(i) and any such Additional Contributions and Excess Additional Contributions made by such Member) by (B) the aggregate Capital Accounts of all Members (in each case, after giving effect to Section 6.03(c)(i) and all such amounts as may be agreed upon Additional Contributions and upon Excess Additional Contributions made by the terms herein set forthMembers); provided, however, that if for purposes of the foregoing, except in the case of Ordinary Course Contributions (and Excess Additional Contributions in respect thereof), the amount of any such arrangements Additional Contributions and Excess Additional Contributions shall not have been completed within such 24-hour period, then:be deemed to be two hundred and fifty percent (250%) of the actual amount thereof; and (iiii) if The Company shall amend Exhibit A hereto to reflect the number foregoing adjustments, and all future allocations of Defaulted Securities does not exceed 10% Profits and Losses and distributions from the Company will be made based on the Members’ Ownership Percentages as adjusted pursuant to the foregoing, until further adjusted in accordance with this Agreement. (d) The provisions of this Section 6.03 shall constitute the sole rights, obligations, liabilities and remedies of the number of Securities to be so purchased by all of Company and the Underwriters on such dateMembers, including the nonNon-defaulting Underwriters shall be obligated, severally Contributing Members and not jointly, to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears to the purchase obligations of all non-defaulting Underwriters; or (ii) if the number of Defaulted Securities exceeds 10% of the number of Securities to be so purchased by all of the Underwriters on such date, this Agreement orContributing Members, with respect to any Option Securities Settlement Date, the obligation of the Underwriters failure by a Member to purchase, make an Additional Contribution as and the Company to sell, the Option Securities to be purchased and sold on such Option Securities Settlement Date shall terminate without liability on the part of any non-defaulting Underwriter. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter from liability in respect of its default. when required. (e) In the event that the Contributing Members do not elect to loan or fund the full amount of the Unfunded Additional Contribution in accordance with Section 6.03(a), the Company (acting at the direction of the Contributing Members) shall use commercially reasonable efforts to sell New Interests of any class or series (with such default which does not result in a termination of this Agreement, or, in features as the case of Contributing Members may determine) as soon as reasonably practicable (but subject to Section 6.04) at an Option Securities Settlement Date, which does not result in a termination issue price that implies no less than 95% of the obligation Company’s Fair Market Value as determined by an independent nationally recognized investment bank or valuation or appraisal firm unless the Board determines not to pursue a sale of such New Interests in accordance with Section 8.04(b) within twenty (20) Business Days following the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may be, either the Representative or the Company shall have the right to postpone the Time of Purchase or the relevant Option Securities Settlement Contribution Date, as the case may be, for a period not exceeding seven (7) days in order to effect any required changes in the Registration Statement, the Disclosure Package or the Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7.

Default. If one or more of the Underwriters participating in an offering of Securities shall fail at the applicable Closing Time of Purchase or an Option Securities Settlement Date to purchase the Securities which it or they are obligated to purchase hereunder and under this the applicable Terms Agreement (the “"Defaulted Securities”"), then the Representative such of you as are named therein shall have the right, within 24 hours thereafter, to make arrangements for one of or more of the non-non defaulting Underwriters Underwriters, or any other underwriters underwriters, to purchase all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; provided. If, however, that if during such arrangements 24 hours you shall not have been completed within such 24-hour periodarrangements for the purchase of all of the Defaulted Securities, then: (ia) if the number aggregate principal amount of Defaulted Securities does not exceed 10% of the number aggregate principal amount of the Securities to be so purchased by all of the Underwriters on pursuant to such dateTerms Agreement, the non-defaulting Underwriters named in such Terms Agreement shall be obligated, severally and not jointly, obligated to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears underwriting obligations hereunder bear to the purchase underwriting obligations of all non-such non- defaulting Underwriters; , or (iib) if the number aggregate principal amount of Defaulted Securities exceeds 10% of the number of Securities to be so purchased by all aggregate principal amount of the Underwriters on such date, this Agreement or, with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, and the Company to sell, the Option Securities to be purchased and sold on pursuant to such Option Securities Settlement Date Terms Agreement, the applicable Terms Agreement shall terminate terminate, without any liability on the part of any non-defaulting UnderwriterUnderwriter or the Company. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter from liability in respect of its defaultany default of such Underwriter under this Agreement and the applicable Terms Agreement. In the event of a default by any such default Underwriter or Underwriters as set forth in this Section which does not result in a termination of this Agreement, or, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may be, either the Representative you or the Company shall have the right to postpone the applicable Closing Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period not exceeding seven (7) days in order to effect that any required changes in the Registration Statement, the Disclosure Package Statement or the Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7arrangements may be effected.

Default. If one or more Underwriters shall fail at the Time of Purchase or an Option Securities Settlement Date to purchase the Securities which it or they are obligated to purchase under this Agreement (the “Defaulted Securities”), then the Representative shall have the right, within 24 hours thereafter, to make arrangements for one of or more of the non-defaulting Underwriters or any other underwriters to purchase all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; provided, however, that if such arrangements shall not have been completed within such 24-hour period, then: (i) if the number of Defaulted Securities does not exceed 10% of the number of Securities to be so purchased by all of the Underwriters on such date, the non-defaulting Underwriters shall be obligated, severally and not jointly, to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears to the purchase obligations of all non-defaulting Underwriters; or (ii) if the number of Defaulted Securities exceeds 10% of the number of Securities to be so purchased by all of the Underwriters on such date, this Agreement or, with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, and the Company to sell, the Option Securities to be purchased and sold on such Option Securities Settlement Date shall terminate without liability on the part of any non-defaulting Underwriter. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter from liability in respect of its default. In the event of any such default which does not result in a termination of this Agreement, or, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may be, either the Representative or the Company shall have the right to postpone the Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period not exceeding seven (7) days in order to effect any required changes in the Registration Statement, the Disclosure Package or the Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7.

Default. If one or more of the Underwriters shall fail at the applicable Closing Time of Purchase or an Option Securities Settlement Date to purchase the Securities which it or they are obligated to purchase under this the applicable Terms Agreement (the “Defaulted Securities”), then the Representative Representatives shall have the right, within 24 hours thereafter, to make arrangements for one of or more of the non-defaulting Underwriters Underwriters, or any other underwriters underwriters, to purchase all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; provided. If, however, that if during such arrangements 24 hours you shall not have been completed within such 24-hour periodarrangements for the purchase of all of the Defaulted Securities, then: (i) A. if the number aggregate principal amount of Defaulted Securities does not exceed 10% of the number aggregate principal amount of the Securities to be so purchased by all of the Underwriters on pursuant to such dateTerms Agreement, the non-defaulting Underwriters shall be obligated, severally and not jointly, obligated to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears underwriting obligations under the applicable Terms Agreement (including this Agreement as incorporated by reference therein) bear to the purchase underwriting obligations of all such non-defaulting Underwriters; , unless otherwise agreed, or (ii) B. if the number aggregate principal amount of Defaulted Securities exceeds 10% of the number of Securities to be so purchased by all aggregate principal amount of the Underwriters on such date, this Agreement or, with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, and the Company to sell, the Option Securities to be purchased and sold on pursuant to such Option Securities Settlement Date Terms Agreement, such Terms Agreement (including this Agreement as incorporated by reference therein) shall terminate terminate, without any liability on the part of any non-defaulting UnderwriterUnderwriter or the Company. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter from liability in respect of its defaultany default of such Underwriter under the applicable Terms Agreement or this Agreement. In the event of a default by any such default Underwriter or Underwriters as set forth in this Section which does not result in a termination of this Agreement, or, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may beapplicable Terms Agreement, either the Representative Representatives or the Company shall have the right to postpone the applicable Closing Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period not exceeding seven (7) days in order to effect that any required changes in the Registration Statement, the Disclosure Package Statement or the Final Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7arrangements may be effected.

Default. If one Each of the following events shall constitute an "Event of Default" hereunder: (a) if the value of the Collateral (hereinafter defined) as determined by the average closing price for thirty (30) consecutive days is less than 102% of the principal amount of the Note; (b) Maker makes an assignment for the benefit of creditors, or more Underwriters files a voluntary petition in bankruptcy, receivership or insolvency, or files an answer in any involuntary proceedings of that nature admitting the material allegations of the petition, or if a proceeding or bankruptcy, receivership or insolvency, shall fail at the Time of Purchase be instituted against Maker and such proceeding shall not be dismissed within sixty (60) days, or an Option Securities Settlement Date if a trustee or receiver shall be appointed for Maker and such proceeding shall not be dismissed or such trustee or receiver shall not be discharged within sixty (60) days (collectively subsections (a) and (b) referred to purchase the Securities which it or they are obligated to purchase under this Agreement (the “Defaulted Securities”herein as a "Default"), then a Default shall exist hereunder, and any sums advanced hereunder, together will all unpaid interest accrued thereon, shall, at the Representative shall have the rightoption of Holder, within 24 hours thereafterwithout further notice, to make arrangements for one of or more at once shall, become due and payable and may be collected immediately, regardless of the non-defaulting Underwriters or any other underwriters to purchase all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; provided, however, that if such arrangements shall not have been completed within such 24-hour period, then: (i) if the number of Defaulted Securities does not exceed 10% of the number of Securities to be so purchased by all of the Underwriters on such date, the non-defaulting Underwriters shall be obligated, severally and not jointly, to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears stipulated Maturity Date. Notwithstanding anything to the purchase obligations of all non-defaulting Underwriters; or (ii) if the number of Defaulted Securities exceeds 10% of the number of Securities to be so purchased by all of the Underwriters on such datecontrary set forth in this Note, Holder hereby agrees that Holder will not exercise its remedies under this Agreement or, with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, and the Company to sell, the Option Securities to be purchased and sold on such Option Securities Settlement Date shall terminate without liability on the part of any non-defaulting Underwriter. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter from liability Note in respect of its default. In the event of any such a default which does not result in a termination of this Agreement, or, in the case of an Option Securities Settlement Date, which does not result in a termination under Section 2(a) unless and until all obligations and liabilities of the obligation "Sellers" set forth in Section 6(d) of the Underwriters to purchase Stock Purchase Agreement dated December 31, 1999, between Maker, "Buyer" therein and Holder and Lahaina Acquisitions, Inc., "Sellers" therein, have been paid and satisfied in full and under no circumstances shall Holder sell more than eighty percent (80%) of the Company to sell shares pledged under the relevant Option Securities, Pledge Agreement (as defined below) within the case may be, either the Representative or the Company shall have the right to postpone the Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period not exceeding seven first ninety (790) days in order to effect any required changes in after the Registration Statement, the Disclosure Package or the Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7date hereof.

Default. If one or more Underwriters shall fail at the Time of Purchase or an Option Securities Settlement Date to purchase the Securities which it or they are obligated to purchase under this Agreement (the “Defaulted Securities”), then the Representative shall have the right, within 24 hours thereafter, to make arrangements for one of or more of the non-defaulting Underwriters or any other underwriters to purchase all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; provided, however, that if such arrangements shall not have been completed within such 24-24 hour period, then: (ia) if the number of Defaulted Securities does not exceed 10% of the number of Securities to be so purchased by all of the Underwriters on such date, the non-defaulting Underwriters shall be obligated, ; severally and not jointly, to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears to the purchase obligations of all non-defaulting Underwriters; or (iib) if the number of Defaulted Securities exceeds 10% of the number of Securities to be so purchased by all of the Underwriters on such date, this Agreement or, with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, and the Company to sell, the Option Securities to be purchased and sold on such Option Securities Settlement Date shall terminate without liability on the part of any non-defaulting Underwriter. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter from liability in respect of its default. In the event of any such default which does not result in a termination of this Agreement, or, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may be, either the Representative or the Company shall have the right to postpone the Time of Purchase or the relevant Option Securities Settlement Date, as the case may bebe , for a period not exceeding seven (7) days in order to effect any required changes in the Registration Statement, the Disclosure Package or the Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7.

Default. If one or more of the Underwriters shall fail at the applicable Closing Time of Purchase or an Option Securities Settlement Date to purchase the Securities which it or they are obligated to purchase under this the applicable Terms Agreement (the “"Defaulted Securities”"), then the Representative Representatives shall have the right, within 24 hours thereafter, to make arrangements for one of or more of the non-defaulting Underwriters Underwriters, or any other underwriters underwriters, to purchase all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; provided. If, however, that if during such arrangements 24 hours you shall not have been completed within such 24-hour periodarrangements for the purchase of all of the Defaulted Securities, then: (i) A. if the number aggregate principal amount of Defaulted Securities does not exceed 10% of the number aggregate principal amount of the Securities to be so purchased by all of the Underwriters on pursuant to such dateTerms Agreement, the non-defaulting Underwriters shall be obligated, severally and not jointly, obligated to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears underwriting obligations under the applicable Terms Agreement (including this Agreement as incorporated by reference therein) bear to the purchase underwriting obligations of all such non-defaulting Underwriters; , unless otherwise agreed, or (ii) B. if the number aggregate principal amount of Defaulted Securities exceeds 10% of the number of Securities to be so purchased by all aggregate principal amount of the Underwriters on such date, this Agreement or, with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, and the Company to sell, the Option Securities to be purchased and sold on pursuant to such Option Securities Settlement Date Terms Agreement, such Terms Agreement (including this Agreement as incorporated by reference therein) shall terminate terminate, without any liability on the part of any non-defaulting UnderwriterUnderwriter or the Company. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter from liability in respect of its defaultany default of such Underwriter under the applicable Terms Agreement or this Agreement. In the event of a default by any such default Underwriter or Underwriters as set forth in this Section which does not result in a termination of this Agreement, or, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may beapplicable Terms Agreement, either the Representative Representatives or the Company shall have the right to postpone the applicable Closing Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period not exceeding seven (7) days in order to effect that any required changes in the Registration Statement, the Disclosure Package Statement or the Final Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7arrangements may be effected.

Default. If one or more Underwriters shall fail at the Time of Purchase or an Option Securities Settlement Date to purchase the Securities which it or they are obligated to purchase under this Agreement (the “Defaulted Securities”), then the Representative Representatives shall have the right, within 24 hours thereafter, to make arrangements for one of or more of the non-defaulting Underwriters or any other underwriters to purchase all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; provided, however, that if such arrangements shall not have been completed within such 24-hour period, then: (i) if the number of Defaulted Securities does not exceed 10% of the number of Securities to be so purchased by all of the Underwriters on such date, the non-defaulting Underwriters shall be obligated, severally and not jointly, to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears to the purchase obligations of all non-defaulting Underwriters; or (ii) if the number of Defaulted Securities exceeds 10% of the number of Securities to be so purchased by all of the Underwriters on such date, this Agreement or, with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, and the Company to sell, the Option Securities to be purchased and sold on such Option Securities Settlement Date shall terminate without liability on the part of any non-defaulting Underwriter. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter from liability in respect of its default. In the event of any such default which does not result in a termination of this Agreement, or, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may be, either the Representative Representatives (acting jointly) or the Company shall have the right to postpone the Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period not exceeding seven (7) days in order to effect any required changes in the Registration Statement, the Disclosure Package or the Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7.

Default. If one or more of the Underwriters shall fail at the applicable Closing Time of Purchase or an Option Securities Settlement Date to purchase the Securities which it or they are obligated to purchase under this the applicable Terms Agreement (the “Defaulted Securities”), then the Representative Representatives shall have the right, within 24 hours thereafter, to make arrangements for one of or more of the non-defaulting Underwriters Underwriters, or any other underwriters underwriters, to purchase all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; provided. If, however, that if during such arrangements 24 hours you shall not have been completed within such 24-hour periodarrangements for the purchase of all of the Defaulted Securities, then: (i) A. if the number aggregate principal amount of Defaulted Securities does not exceed 10% of the number aggregate principal amount of the Securities to be so purchased by all of the Underwriters on pursuant to such dateTerms Agreement, the non-defaulting Underwriters shall be obligated, severally and not jointly, obligated to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears underwriting obligations under the applicable Terms Agreement (including this Agreement as incorporated by reference therein) bear to the purchase underwriting obligations of all such non-defaulting Underwriters; , unless otherwise agreed, or (ii) B. if the number aggregate principal amount of Defaulted Securities exceeds 10% of the number of Securities to be so purchased by all aggregate principal amount of the Underwriters on such date, this Agreement or, with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, and the Company to sell, the Option Securities to be purchased and sold on pursuant to such Option Securities Settlement Date Terms Agreement, such Terms Agreement (including this Agreement as incorporated by reference therein) shall terminate terminate, without any liability on the part of any non-defaulting UnderwriterUnderwriter or the Company. No action taken pursuant to this Section 7 10 shall relieve any defaulting Underwriter from liability in respect of its defaultany default of such Underwriter under the applicable Terms Agreement or this Agreement. In the event of a default by any such default Underwriter or Underwriters as set forth in this Section 10 which does not result in a termination of this Agreement, or, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may beapplicable Terms Agreement, either the Representative Representatives or the Company shall have the right to postpone the applicable Closing Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period not exceeding seven (7) days in order to effect that any required changes in the Registration Statement, the Disclosure Package Statement or the Final Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7arrangements may be effected.

Default. If one or more of the Underwriters shall fail at the Closing Time of Purchase or an Option Securities Settlement Date to purchase the Securities which it or they are obligated to purchase hereunder and under this the Terms Agreement (the “"Defaulted Securities”"), then the Representative you shall have the right, within 24 36 hours thereafter, to make arrangements for one of or more of the non-defaulting Underwriters Underwriters, or any other underwriters underwriters, to purchase all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; provided. If, however, that if during such arrangements 36 hours you shall not have been completed within such 24-hour period, arrangements for the purchase of all the Defaulted Securities then: (ia) if the number aggregate amount of Defaulted Securities does not exceed 10% of the number aggregate amount of the Securities to be so purchased by all of pursuant to the Underwriters on such dateTerms Agreement, the non-defaulting Underwriters shall be obligated, severally and not jointly, obligated to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears underwriting obligations hereunder bear to the purchase underwriting obligations of all such non-defaulting Underwriters; , or (iib) if the number aggregate amount of Defaulted Securities exceeds 10% of the number of Securities to be so purchased by all aggregate amount of the Underwriters on such date, this Agreement or, with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, and the Company to sell, the Option Securities to be purchased and sold on such Option Securities Settlement Date pursuant to the Terms Agreement, this Agreement shall terminate terminate, without any liability on the part of any non-defaulting UnderwriterUnderwriter or the Company. As used in this Section only, the "aggregate amount" of Securities shall mean the aggregate principal amount of any Senior Debt Securities plus the public offering price of any Warrants. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter from liability in respect of its defaultany default of such Underwriter under this Agreement. In the event of a default by any such default which does not result Underwriter or Underwriters as set forth in a termination of this Agreement, or, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may beSection, either the Representative you or the Company shall have the right to postpone the Closing Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period not exceeding seven (7) days in order to effect that any required changes in the Registration Statement, the Disclosure Package Statement or the Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7arrangements may be effected.

Default. If one or more of the Underwriters participating in an offering of Shares shall fail at the Closing Time or a Date of Purchase or an Option Securities Settlement Date Delivery to purchase the Securities Shares which it or they are obligated to purchase under this Agreement hereunder (the “Defaulted SecuritiesShares”), then the Representative shall have the right, within 24 hours thereafter, to make arrangements for one of or more of the non-defaulting Underwriters Underwriters, or any other underwriters underwriters, to purchase all, but not less than all, of the Defaulted Securities Shares in such amounts as may be agreed upon and upon the terms herein set forth; provided. If, however, that if during such arrangements 24 hours the Representative shall not have been completed within such 24-hour periodarrangements for the purchase of all of the Defaulted Shares, then: (i1) if the aggregate number of Defaulted Securities Shares does not exceed 10% of the aggregate number of Securities the Shares to be so purchased by all of the Underwriters on such date, the non-defaulting Underwriters shall be obligated, severally and not jointly, obligated to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears underwriting obligations thereunder bear to the purchase underwriting obligations of all such non-defaulting Underwriters; , or (ii2) if the aggregate number of Defaulted Securities Shares exceeds 10% of the aggregate number of Securities the Shares to be so purchased by all of the Underwriters on such date, this Agreement or, with respect to any Option Securities Settlement DateDate of Delivery which occurs after the Closing Time, the obligation of the Underwriters to purchase, purchase and of the Company to sell, sell the Option Securities Shares to be purchased and sold on such Option Securities Settlement Date of Delivery shall terminate terminate, without any liability on the part of any non-non defaulting UnderwriterUnderwriter or the Company. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter from liability in respect of its defaultany default of such Underwriter under this Agreement. In the event of any such default which does not result in a termination of this Agreement, Agreement or, in the case of an Option Securities Settlement Datea Date of Delivery which is after the Closing Time, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option SecuritiesShares, as the case may be, either the Representative or the Company shall have the right to postpone the Closing Time of Purchase or the relevant Option Securities Settlement DateDate of Delivery, as the case may be, for a period not exceeding seven (7) days in order to effect that any required changes in the Registration Statement, the Disclosure Package Statement or the Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7arrangements may be effected.

Default. If one or more Underwriters shall fail at the Time of Purchase or an Option Securities Settlement Date any Additional Time of Purchase to purchase the Securities Shares which it or they are obligated to purchase under this Agreement (the “Defaulted SecuritiesShares”), then the Representative Representatives shall have the right, within 24 hours thereafter, to make arrangements for one of or more of the non-defaulting Underwriters or any other underwriters to purchase all, but not less than all, of the Defaulted Securities Shares in such amounts as may be agreed upon and upon the terms herein set forth; provided, however, that if such arrangements shall not have been completed within such 24-hour period, then: (i) if the number of Defaulted Securities Shares does not exceed 10% of the number of Securities Shares to be so purchased by all of the Underwriters on such date, the non-defaulting Underwriters shall be obligated, severally and not jointly, to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears to the purchase obligations of all non-defaulting Underwriters; or (ii) if the number of Defaulted Securities Shares exceeds 10% of the number of Securities Shares to be so purchased by all of the Underwriters on such date, this Agreement or, with respect to any Option Securities Settlement DateAdditional Time of Purchase subsequent to the Time of Purchase, the obligation of the several Underwriters to purchase, and the Company to sell, the Option Securities to be purchased and sold on such Option Securities Settlement Date Additional Shares shall terminate without liability on the part of any non-defaulting Underwriter. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter from liability in respect of its default. In the event of any such default which does not result in a termination of this Agreement, Agreement or, in the case of an Option Securities Settlement Datewith respect to Additional Shares, which does not result in a termination of the obligation of the several Underwriters to purchase purchase, and the Company to sell the relevant Option Securitiessell, as the case may besuch Additional Shares, either the Representative Representatives or the Company shall have the right to postpone the Time of Purchase or the relevant Option Securities Settlement Dateapplicable Additional Time of Purchase, as the case may be, for a period not exceeding seven (7) days in order to effect any required changes in the Registration Statement, the Disclosure Package or the Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7.

Default. 13.1 If one or more Underwriters shall fail at either of Us considers that the Time other is in default of Purchase or an Option Securities Settlement Date to purchase the Securities which it or they are obligated to purchase its obligations under this Agreement (the “Defaulted Securities”)or an SDO, then the Representative shall have default and a reasonable time-span within which it must be put right must be notified in writing to whichever of Us is considered to be at fault. 13.2 Where the right, default is not put right within 24 hours thereafter, the specified time then it may be referred to make arrangements for one the dispute resolution procedure contained in clause 12 of this Agreement or more the termination procedures contained in clauses 14 and 15 of this Agreement. 14 Termination of the non-defaulting Underwriters or Agreement 14.1 You will notify Us without delay if You cannot meet your commitments under this Agreement for a temporary period. In this circumstance and without prejudice to the continuation of this Agreement, We may help You to ensure the continuity of the Service. 14.2 This Agreement may be ended at any time by either of Us giving to the other underwriters to purchase all, but not less than all, 6 months prior notice in writing to expire at any time. 14.3 We may terminate this Agreement without notice and recover from You the amount of any loss resulting from the termination if You: (a) Are in Serious Breach of this Agreement; (b) Are in Continuing Breach of this Agreement; (c) Are convicted of an offence under the provisions of the Defaulted Securities Care Standards Act 2000 and regulations thereto and any subsequent amendments; (d) Cease to hold appropriate registration under the Care Standards Act 2000; (e) Become bankrupt or are the subject of any application or arrangement under the provisions of the Insolvency Act 1986 (as amended by the Enterprise Act 2002); (f) Have a winding-up order made (except for the purposes of amalgamation or reconstruction) or a resolution of a voluntary winding-up is made; (g) Have a provisional liquidator, receiver or manager of your business or undertaking duly appointed; (h) Have an administrative receiver as defined in such amounts the Insolvency Act 1986 (as may be agreed upon and upon amended by the terms herein set forth; provided, however, that if such arrangements shall not have been completed within such 24-hour period, then:Enterprise Act 2002) appointed; (i) if Are in circumstances which entitle the number court or a creditor to appoint, or have appointed, a receiver, a manager or an administrative receiver, or which entitle the court to make a winding-up order; (j) Take financial advantage of Defaulted Securities does not exceed 10% a Service User or inappropriately solicit money from his or her representative or Third Party; (k) Offer any inappropriate inducements or exert pressure on a potential Service User or his or her representative or Third Party to encourage a choice of the number your Service; (l) Offer, give or agree to give any gift or consideration of Securities any kind to be so purchased by all any of the Underwriters on such date, the non-defaulting Underwriters shall be obligated, severally and not jointly, our Officers or elected Members in order to purchase the full amount thereof gain an advantage in the proportions that their respective initial purchase obligation bears to the purchase obligations of all non-defaulting Underwriters; or (ii) if the number of Defaulted Securities exceeds 10% of the number of Securities to be so purchased by all of the Underwriters on such date, this Agreement or, with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, and the Company to sell, the Option Securities to be purchased and sold on such Option Securities Settlement Date shall terminate without liability on the part of any non-defaulting Underwriter. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter from liability in respect of its default. In the event of any such default which does not result in a termination performance of this Agreement, or, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may be, either the Representative or the Company shall have the right to postpone the Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period not exceeding seven (7) days in order to effect any required changes in the Registration Statement, the Disclosure Package or the Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7.;

Default. If one or more of the Underwriters shall fail at the Closing Time or a Date of Purchase or an Option Securities Settlement Date Delivery to purchase the Immediate Delivery Offered Securities which it or they are obligated to purchase under this the applicable Terms Agreement (the “Defaulted Securities”), then the Representative Representatives shall have the right, within 24 hours thereafter, to make arrangements for one of or more of the non-defaulting Underwriters Underwriters, or any other underwriters underwriters, to purchase all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; provided. If, however, that if during such arrangements 24 hours the Representatives shall not have been completed within such 24-hour periodarrangements for the purchase of all of the Defaulted Securities, then: (ia) if the number amount of Defaulted Securities does not exceed 10% of the number amount of Immediate Delivery Offered Securities to be so purchased by all of the Underwriters on such date, each of the non-defaulting Underwriters shall be obligated, severally and not jointly, to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears underwriting obligations hereunder bear to the purchase underwriting obligations of all non-defaulting Underwriters; , or (iib) if the number amount of Defaulted Securities exceeds 10% of the number of Immediate Delivery Offered Securities to be so purchased by all of the Underwriters on such date, this the applicable Terms Agreement or, with respect to any Option Securities Settlement DateDate of Delivery which occurs after the Closing Time, the obligation of the Underwriters to purchase, purchase and of the Company to sell, sell the Option Securities to be purchased and sold on such Option Securities Settlement Date of Delivery shall terminate without liability on the part of any non-defaulting Underwriter. No action taken pursuant to this Section 7 10 shall relieve any defaulting Underwriter from liability in respect of its default. In the event of any such default which does not result in a termination of this Agreement, the applicable Terms Agreement or, in the case of an Option Securities Settlement Datea Date of Delivery which is after the Closing Time, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may be, either the Representative Representatives or the Company shall have the right to postpone the Closing Time of Purchase or the relevant Option Securities Settlement DateDate of Delivery, as the case may be, for a period not exceeding seven (7) days in order to effect any required changes in the Registration Statement, the Disclosure Package Statement or the Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 710.

Default. (a) If one or more Underwriters any Underwriter shall fail at the Time of Purchase or an Option Securities Settlement Date default in its obligation to purchase the Securities which it or they are obligated has agreed to purchase under this Agreement (hereunder at a Time of Delivery, you may in your discretion arrange for you or another party or other parties reasonably satisfactory to the “Defaulted Company to purchase such Securities on the terms contained herein. If within 36 hours after such default by any Underwriter you do not arrange for the purchase of such Securities”), then the Representative Company shall be entitled to a further period of 36 hours within which to procure another party or other parties satisfactory to you to purchase such Securities on such terms. In the event that, within the respective prescribed periods, you notify the Company that you have so arranged for the purchase of such Securities, or the Company notifies you that it has so arranged for the purchase of such Securities, you or the Company shall have the rightright to postpone a Time of Delivery for a period of not more than seven days, within 24 hours thereafterin order to effect whatever changes may thereby be made necessary in the Registration Statement or the Prospectus, or in any other documents or arrangements, and the Company agrees to file promptly any amendments or supplements to the Registration Statement or the Prospectus which in your opinion may thereby be made necessary. The term “Underwriter” as used in this Agreement shall include any person substituted under this Section with like effect as if such person had originally been a party to this Agreement with respect to such Securities. (b) If, after giving effect to any arrangements for the purchase of the Securities of a defaulting Underwriter or Underwriters by you and the Company as provided in subsection (a) above, the aggregate number of such Securities which remains unpurchased does not exceed one-eleventh of the aggregate number of all the Securities to be purchased at the Time of Delivery, then the Company shall have the right to require each non-defaulting Underwriter to purchase the number of Securities which such Underwriter agreed to purchase hereunder at the Time of Delivery and, in addition, to make require each non-defaulting Underwriter to purchase its pro rata share (based on the number of Securities which such Underwriter agreed to purchase hereunder) of the Securities of such defaulting Underwriter or Underwriters for which such arrangements have not been made; but nothing herein shall relieve a defaulting Underwriter from liability for its default. (c) If, after giving effect to any arrangements for one of or more the purchase of the Securities of a defaulting Underwriter or Underwriters by you and the Company as provided in subsection (a) above, the aggregate number of such Securities which remains unpurchased exceeds one-eleventh of the aggregate number of all of the Securities to be purchased at the Time of Delivery, or if the Company shall not exercise the right described in subsection (b) above to require non-defaulting Underwriters or any other underwriters to purchase allSecurities of a defaulting Underwriter or Underwriters, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; provided, however, that if such arrangements shall not have been completed within such 24-hour period, then: (i) if the number of Defaulted Securities does not exceed 10% of the number of Securities to be so purchased by all of the Underwriters on such date, the non-defaulting Underwriters shall be obligated, severally and not jointly, to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears to the purchase obligations of all non-defaulting Underwriters; or (ii) if the number of Defaulted Securities exceeds 10% of the number of Securities to be so purchased by all of the Underwriters on such date, then this Agreement orshall thereupon terminate, with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, and the Company to sell, the Option Securities to be purchased and sold on such Option Securities Settlement Date shall terminate without liability on the part of any non-defaulting Underwriter. No action taken pursuant Underwriter or the Company, except for the expenses to this be borne by the Company and the Underwriters as provided in Section 7 hereof and the indemnity and contribution agreements in Section 9 hereof; but nothing herein shall relieve any a defaulting Underwriter from liability in respect of for its default. In the event of any such default which does not result in a termination of this Agreement, or, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may be, either the Representative or the Company shall have the right to postpone the Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period not exceeding seven (7) days in order to effect any required changes in the Registration Statement, the Disclosure Package or the Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7.

Default. If one or more of the Underwriters shall fail at the applicable Closing Time of Purchase or an Option Securities Settlement Date to purchase the Securities which it or they are obligated to purchase under this the applicable Terms Agreement (the “Defaulted Securities”), then the Representative Representatives shall have the right, within 24 hours thereafter, to make arrangements for one of or more of the non-defaulting Underwriters Underwriters, or any other underwriters underwriters, to purchase all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; provided. If, however, that if during such arrangements 24 hours you shall not have been completed within such 24-hour periodarrangements for the purchase of all of the Defaulted Securities, then: (i) A. if the number aggregate principal amount of Defaulted Securities does not exceed 10% of the number aggregate principal amount of the Securities to be so purchased by all of the Underwriters on pursuant to such dateTerms Agreement, the non-defaulting Underwriters shall be obligated, severally and not jointly, obligated to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears underwriting obligations under the applicable Terms Agreement (including this Agreement as incorporated by reference therein) bear to the purchase underwriting obligations of all such non-defaulting Underwriters; , unless otherwise agreed, or (ii) B. if the number aggregate principal amount of Defaulted Securities exceeds 10% of the number of Securities to be so purchased by all aggregate principal amount of the Underwriters on such date, this Agreement or, with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, and the Company to sell, the Option Securities to be purchased and sold on pursuant to such Option Securities Settlement Date Terms Agreement, such Terms Agreement (including this Agreement as incorporated by reference therein) shall terminate terminate, without any liability on the part of any non-defaulting UnderwriterUnderwriter or the Issuer. No action taken pursuant to this Section 7 10 shall relieve any defaulting Underwriter from liability in respect of its defaultany default of such Underwriter under the applicable Terms Agreement or this Agreement. In the event of a default by any such default Underwriter or Underwriters as set forth in this Section 10 which does not result in a termination of this Agreement, or, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may beapplicable Terms Agreement, either the Representative Representatives or the Issuer or the Company shall have the right to postpone the applicable Closing Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period not exceeding seven (7) days in order to effect that any required changes in the Registration Statement, the Disclosure Package Statement or the Final Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7arrangements may be effected.

Default. If one or more Underwriters shall fail at Pledgor defaults in the Time of Purchase or an Option Securities Settlement Date to purchase the Securities which it or they are obligated to purchase under this Agreement (the “Defaulted Securities”), then the Representative shall have the right, within 24 hours thereafter, to make arrangements for one of or more payment of the non-defaulting Underwriters principal or ------- interest under the Note when it becomes due (whether upon demand, acceleration or otherwise) or any other underwriters event of default under the Note or this Pledge Agreement occurs (including the bankruptcy or insolvency of Pledgor), the Company may exercise any and all the rights, powers and remedies of any owner of the Pledged Shares (including the right to purchase allvote the shares and receive dividends and distributions with respect to such shares) and shall have and may exercise without demand any and all the rights and remedies granted to a secured party upon default under the Uniform Commercial Code of the State of Florida or otherwise available to the Company under applicable law. Without limiting the foregoing, but the Company is authorized to sell, assign and deliver at its discretion, from time to time, all or any part of the Pledged Shares at any private sale or public auction, on not less than allten days written notice to Pledgor, at such price or prices and upon such terms as the Company may deem advisable. Pledgor shall have no right to redeem the Pledged Shares after any such sale or assignment. At any such sale or auction, the Company may bid for, and become the purchaser of, the whole or any part of the Defaulted Securities Pledged Shares offered for sale. In case of any such sale, after deducting the costs, attorneys' fees and other expenses of sale and delivery, the remaining proceeds of such sale shall be applied to the principal of and accrued interest on the Note; provided that after payment in such amounts as may full of the indebtedness evidenced by the Note, the balance of the proceeds of sale then remaining shall be agreed upon paid to Pledgor and upon Pledgor shall be entitled to the terms herein set forth; provided, however, that if such arrangements return of any of the Pledged Shares remaining in the hands of the Company. Pledgor shall be liable for an amount not have been completed within such 24-hour period, then: (i) if the number of Defaulted Securities does not to exceed 1025% of the number of Securities to be so purchased by all of the Underwriters on such date, the non-defaulting Underwriters shall be obligated, severally outstanding principal and not jointly, to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears to the purchase obligations of all non-defaulting Underwriters; or (ii) if the number of Defaulted Securities exceeds 10100% of the number accrued interest on the Note for any deficiency if the remaining proceeds are insufficient to pay the indebtedness under the Note in full, including the fees of Securities to be so purchased any attorneys employed by all of the Underwriters on such date, this Agreement or, with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, and the Company to sell, the Option Securities to be purchased and sold on collect such Option Securities Settlement Date shall terminate without liability on the part of any non-defaulting Underwriter. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter from liability in respect of its default. In the event of any such default which does not result in a termination of this Agreement, or, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may be, either the Representative or the Company shall have the right to postpone the Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period not exceeding seven (7) days in order to effect any required changes in the Registration Statement, the Disclosure Package or the Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7deficiency.

Default. If one or more Underwriters shall fail at the Time of Purchase or an Option Securities Settlement Date to purchase the Securities which it or they are obligated to purchase under this Agreement (the “Defaulted Securities”), then the Representative shall have the right, within 24 hours thereafter, to make arrangements for one of or more of the non-defaulting Underwriters or any other underwriters to purchase all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; provided, however, that if such arrangements shall not have been completed within such 24-hour period, then: (i) if the number of Defaulted Securities does not exceed 10% of the number of Securities to be so purchased by all of the Underwriters on such date, the non-defaulting Underwriters shall be obligated, severally and not jointly, to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears to the purchase obligations of all non-defaulting Underwriters; or (ii) if the number of Defaulted Securities exceeds 10% of the number of Securities to be so purchased by all of the Underwriters on such date, this Agreement or, with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, and the Company to sell, the Option Securities to be purchased and sold on such Option Securities Settlement Date shall terminate without liability on the part of any non-defaulting Underwriter. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter from liability in respect of its default. In the event of any such default which does not result in a termination of this Agreement, or, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase purchase, and the Company to sell sell, the relevant Option Securities, as the case may be, either the Representative or the Company shall have the right to postpone the Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period not exceeding seven (7) days in order to effect any required changes in the Registration Statement, the Disclosure Package or the Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7.

Default. If one or more of the Underwriters participating in an offering of Securities shall fail at the applicable Closing Time of Purchase or an Option Securities Settlement Date to purchase the Securities which it or they are obligated to purchase hereunder and under this the applicable Terms Agreement (the “"Defaulted Securities”"), then the Representative you shall have the right, within 24 hours thereafter, to make arrangements for one of or more of the non-defaulting Underwriters nondefaulting Underwriters, or any other underwriters underwriters, to purchase all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; provided. If, however, that if during such arrangements 24 hours you shall not have been completed within such 24-hour periodarrangements for the purchase of all of the Defaulted Securities, then: (ia) if the number aggregate principal amount of Defaulted Securities does not exceed 10% of the number aggregate principal amount of the Securities to be so purchased by all of the Underwriters on pursuant to such dateTerms Agreement, the non-defaulting Underwriters named in such Terms Agreement shall be obligated, severally and not jointly, obligated to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears underwriting obligations hereunder bear to the purchase underwriting obligations of all such non-defaulting Underwriters; , or (iib) if the number aggregate principal amount of Defaulted Securities exceeds 10% of the number of Securities to be so purchased by all aggregate principal amount of the Underwriters on such date, this Agreement or, with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, and the Company to sell, the Option Securities to be purchased and sold on pursuant to such Option Securities Settlement Date Terms Agreement, the applicable Terms Agreement shall terminate terminate, without any liability on the part of any non-defaulting UnderwriterUnderwriter or the Company. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter from liability in respect of its defaultany default of such Underwriter under this Agreement and the applicable Terms Agreement. In the event of a default by any such default which does not result Underwriter or Underwriters as set forth in a termination of this Agreement, or, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may beSection, either the Representative you or the Company shall have the right to postpone the applicable Closing Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period not exceeding seven (7) days in order to effect that any required changes in the Registration Statement, the Disclosure Package Statement or the Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7arrangements may be effected.

Default. If one or more of the Underwriters shall fail at the Closing Time or a Date of Purchase or an Option Securities Settlement Date Delivery to purchase the Immediate Delivery Offered Securities which it or they are obligated to purchase under this Agreement (the “"Defaulted Securities”"), then the Representative Representatives shall have the right, within 24 hours thereafter, to make arrangements for one of or more of the non-defaulting Underwriters Underwriters, or any other underwriters underwriters, to purchase all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; provided. If, however, that if during such arrangements 24 hours the Representatives shall not have been completed within such 24-hour periodarrangements for the purchase of all of the Defaulted Securities, then: (ia) if the number amount of Defaulted Securities does not exceed 10% of the number amount of Immediate Delivery Offered Securities to be so purchased by all of the Underwriters on such date, each of the non-defaulting Underwriters shall be obligated, severally and not jointly, to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears underwriting obligations hereunder bear to the purchase underwriting obligations of all non-defaulting Underwriters; , or (iib) if the number amount of Defaulted Securities exceeds 10% of the number of Immediate Delivery Offered Securities to be so purchased by all of the Underwriters on such date, this Agreement or, with respect to any Option Securities Settlement DateDate of Delivery which occurs after the Closing Time, the obligation of the Underwriters to purchase, purchase and of the Company to sell, sell the Option Securities to be purchased and sold on such Option Securities Settlement Date of Delivery shall terminate without liability on the part of any non-defaulting Underwriter. No action taken pursuant to this Section 7 10 shall relieve any defaulting Underwriter from liability in respect of its default. In the event of any such default which does not result in a termination of this Agreement, Agreement or, in the case of an Option Securities Settlement Datea Date of Delivery which is after the Closing Time, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may be, either the Representative Representatives or the Company shall have the right to postpone the Closing Time of Purchase or the relevant Option Securities Settlement DateDate of Delivery, as the case may be, for a period not exceeding seven (7) days in order to effect any required changes in the Registration Statement, the Disclosure Package Statement or the Prospectus or in any other documents or arrangements. As used herein, the term “"Underwriter” " includes any person substituted for an Underwriter under this Section 710.

Default. If one or more of the Underwriters participating in an offering of Securities shall fail at the Time of Purchase applicable Closing Date or an Option Securities Settlement Date Closing Date, as the case may be, to purchase the Securities which it or they are obligated to purchase at such time under this the applicable Terms Agreement (the “Defaulted Securities”), then the Representative such of you as are named therein shall have the right, within 24 36 hours thereafter, to make arrangements for one of or more of the non-defaulting Underwriters Underwriters, or any other underwriters underwriters, to purchase all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; provided. If, however, that if during such arrangements 36 hours you shall not have been completed within such 24-hour periodarrangements for the purchase of all of the Defaulted Securities, and if the Company shall not have completed arrangements for the purchase of all, but not less than all, of the Defaulted Securities by other underwriters satisfactory to such of you as are named in the applicable Terms Agreement, then: (ia) if the number aggregate principal amount of Defaulted Securities does not exceed 10% of the number aggregate principal amount of Firm Securities to be so purchased by all of the Underwriters on pursuant to such dateTerms Agreement, the non-defaulting Underwriters shall be obligated, severally and not jointly, obligated to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears underwriting obligations under the applicable Terms Agreement bear to the purchase obligations aggregate principal amount of Firm Securities set forth opposite the names of all such non-defaulting Underwriters; or (iib) if the number aggregate principal amount of Defaulted Securities exceeds 10% of the number aggregate principal amount of Securities to be so purchased by all of the Underwriters on such date, this Agreement or, with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, and the Company to sell, the Option Firm Securities to be purchased and sold on pursuant to such Option Securities Settlement Date Terms Agreement, the applicable Terms Agreement shall terminate terminate, without any liability on the part of any non-defaulting UnderwriterUnderwriter or the Company except, in each case, as provided in Sections 7 and 8 hereof. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter from liability to the Company or any non-defaulting Underwriter for damages in respect of its defaultany default of such Underwriter hereunder and the applicable Terms Agreement. In the event of a default by any such default which does not result Underwriter or Underwriters as set forth in a termination of this Agreement, or, in the case of an Option Securities Settlement Date, Section which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may beapplicable Terms Agreement, either the Representative you or the Company shall have the right to postpone the Time of Purchase applicable Closing Date or the relevant Option Securities Settlement Closing Date, as the case may be, for a period of not exceeding seven (7) days in order to effect that any required changes in the Registration Statement, the Disclosure Package Statement or the Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7arrangements may be effected.

Default. If one or more of the Underwriters participating in an offering of Trust Preferred Securities shall fail at the Closing Time or a Date of Purchase or an Option Securities Settlement Date Delivery to purchase the Trust Preferred Securities which it or they are obligated to purchase under this Agreement hereunder (the “Defaulted Trust Preferred Securities”), then the Representative shall have the right, within 24 hours thereafter, to make arrangements for one of or more of the non-defaulting Underwriters Underwriters, or any other underwriters underwriters, to purchase all, but not less than all, of the Defaulted Trust Preferred Securities in such amounts as may be agreed upon and upon the terms herein set forth; provided. If, however, that if during such arrangements 24 hours the Representative shall not have been completed within such 24-hour periodarrangements for the purchase of all of the Defaulted Trust Preferred Securities, then: (i1) if the aggregate number of Defaulted Trust Preferred Securities does not exceed 10% of the aggregate number of the Trust Preferred Securities to be so purchased by all of the Underwriters on such date, the non-defaulting Underwriters shall be obligated, severally and not jointly, obligated to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears underwriting obligations thereunder bear to the purchase underwriting obligations of all such non-defaulting Underwriters; , or (ii2) if the aggregate number of Defaulted Trust Preferred Securities exceeds 10% of the aggregate number of the Trust Preferred Securities to be so purchased by all of the Underwriters on such date, this Agreement or, with respect to any Option Securities Settlement DateDate of Delivery which occurs after the Closing Time, the obligation of the Underwriters to purchase, purchase and of the Company to sell, sell the Option Trust Preferred Securities to be purchased and sold on such Option Securities Settlement Date of Delivery shall terminate terminate, without any liability on the part of any non-non defaulting UnderwriterUnderwriter or the Company. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter from liability in respect of its defaultany default of such Underwriter under this Agreement. In the event of any such default which does not result in a termination of this Agreement, Agreement or, in the case of an Option Securities Settlement Datea Date of Delivery which is after the Closing Time, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Trust Preferred Securities, as the case may be, either the Representative or the Company shall have the right to postpone the Closing Time of Purchase or the relevant Option Securities Settlement DateDate of Delivery, as the case may be, for a period not exceeding seven (7) days in order to effect that any required changes in the Registration Statement, the Disclosure Package Statement or the Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7arrangements may be effected.

Default. If one or more of the Underwriters participating in an offering of Securities shall fail at the Time of Purchase applicable Closing Date or an Option Securities Settlement Date Closing Date, as the case may be, to purchase the Securities which it or they are obligated to purchase at such time under this the applicable Terms Agreement (the “Defaulted Securities”), then the Representative such of you as are named therein shall have the right, within 24 36 hours thereafter, to make arrangements for one of or more of the non-defaulting Underwriters Underwriters, or any other underwriters underwriters, to purchase all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; provided. If, however, that if during such arrangements 36 hours you shall not have been completed within such 24-hour periodarrangements for the purchase of all of the Defaulted Securities, and if the Company shall not have completed arrangements for the purchase of all, but not less than all, of the Defaulted Securities by other underwriters satisfactory to such of you as are named in the applicable Terms Agreement, then: (ia) if the number aggregate principal amount of Defaulted Securities does not exceed 10% of the number aggregate principal amount of Firm Securities to be so purchased by all of the Underwriters on pursuant to such dateTerms Agreement, the non-defaulting Underwriters shall be obligated, severally and not jointly, obligated to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears underwriting obligations under the applicable Terms Agreement bear to the purchase obligations aggregate principal amount of Firm Securities set forth opposite the names of all such non-defaulting Underwriters; or (iib) if the number aggregate principal amount of Defaulted Securities exceeds 10% of the number aggregate principal amount of Securities to be so purchased by all of the Underwriters on such date, this Agreement or, with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, and the Company to sell, the Option Firm Securities to be purchased and sold on pursuant to such Option Securities Settlement Date Terms Agreement, the applicable Terms Agreement shall terminate terminate, without any liability on the part of any non-defaulting UnderwriterUnderwriter or the Company except, in each case, as provided in Sections 7 and 8 hereof. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter from liability to the Company or any non-defaulting Underwriter for damages in respect of its defaultany default of such Underwriter hereunder and the applicable Terms Agreement. In the event of a default by any such default which does not result Underwriter or Underwriters as set forth in a termination of this Agreement, or, in the case of an Option Securities Settlement Date, Section which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may beapplicable Terms Agreement, either the Representative you or the Company shall have the right to postpone the Time of Purchase applicable Closing Date or the relevant Option Securities Settlement Closing Date, as the case may be, for a period not exceeding seven (7) days in order to effect that any required changes in the Registration Statement, the Disclosure Package Statement or the Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7arrangements may be effected.

Default. (a) If one or more Underwriters shall fail at the Time of Purchase or an Option Securities Settlement Date to purchase the Securities which it or they are obligated to purchase under this Agreement (the “Defaulted Securities”), then the Representative Representatives shall have the right, within 24 hours thereafter, to make arrangements for one of or more of the non-defaulting Underwriters or any other underwriters to purchase all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; provided, however, that if such arrangements shall not have been completed within such 24-hour period, then: (i) if the number of Defaulted Securities does not exceed 10% of the number of Securities to be so purchased by all of the Underwriters on such date, the non-defaulting Underwriters shall be obligated, severally and not jointly, to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears to the purchase obligations of all non-defaulting Underwriters; or (ii) if the number of Defaulted Securities exceeds 10% of the number of Securities to be so purchased by all of the Underwriters on such date, this Agreement or, with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, and the Company to sell, the Option Securities to be purchased and sold on such Option Securities Settlement Date shall terminate without liability on the part of any non-defaulting Underwriter. No action taken pursuant to this Section 7 ‎7(a) shall relieve any defaulting Underwriter from liability in respect of its default. In the event of any such default which does not result in a termination of this Agreement, or, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may be, either the Representative Representatives or the Company shall have the right to postpone the Time of Purchase or the relevant Option Securities Settlement Date, as the case may bePurchase, for a period not exceeding seven (7) days in order to effect any required changes in the Registration Statement, the Disclosure Package or the Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7‎7(a).

Default. If one or more of the Underwriters participating in an offering of Securities shall fail at the Time of Purchase applicable Closing Date or an Option Securities Settlement Date Closing Date, as the case may be, to purchase the Securities which it or they are obligated to purchase at such time under this the applicable Terms Agreement (the “Defaulted Securities”), then the Representative such of you as are named therein shall have the right, within 24 36 hours thereafter, to make arrangements for one of or more of the non-defaulting Underwriters Underwriters, or any other underwriters underwriters, to purchase all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; provided. If, however, that if during such arrangements 36 hours you shall not have been completed within such 24-hour periodarrangements for the purchase of all of the Defaulted Securities, and if the Company shall not have completed arrangements for the purchase of all, but not less than all, of the Defaulted Securities by other underwriters satisfactory to such of you as are named in the applicable Terms Agreement, then: (ia) if the aggregate number of Defaulted Securities does not exceed 10% of the aggregate number of Firm Securities to be so purchased by all of the Underwriters on pursuant to such dateTerms Agreement, the non-defaulting Underwriters shall be obligated, severally and not jointly, obligated to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears underwriting obligations under the applicable Terms Agreement bear to the purchase obligations aggregate number of Firm Securities set forth opposite the names of all such non-defaulting Underwriters; or (iib) if the aggregate number of Defaulted Securities exceeds 10% of the aggregate number of Securities to be so purchased by all of the Underwriters on such date, this Agreement or, with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, and the Company to sell, the Option Firm Securities to be purchased and sold on pursuant to such Option Securities Settlement Date Terms Agreement, the applicable Terms Agreement shall terminate terminate, without any liability on the part of any non-defaulting UnderwriterUnderwriter or the Company or the Western Gas Parties except, in each case, as provided in Sections 9 and 10 hereof. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter from liability to the Company, the Western Gas Parties or any non-defaulting Underwriter for damages in respect of its defaultany default of such Underwriter hereunder and the applicable Terms Agreement. In the event of a default by any such default which does not result Underwriter or Underwriters as set forth in a termination of this Agreement, or, in the case of an Option Securities Settlement Date, Section which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may beapplicable Terms Agreement, either the Representative you or the Company shall have the right to postpone the Time of Purchase applicable Closing Date or the relevant Option Securities Settlement Closing Date, as the case may be, for a period not exceeding seven (7) days in order to effect that any required changes in the Registration Statement, the Disclosure Package Partnership Registration Statement, the Prospectus or the Partnership Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7arrangements may be effected.

Default. (a) If any Underwriter shall default in its obligation to purchase the Notes which it has agreed to purchase hereunder on the Closing Date, the non-defaulting Underwriters may arrange for one or more of such non-defaulting Underwriters or another party or other parties to purchase such Notes on the terms contained herein. If within thirty-six hours after such default by any Underwriter the non-defaulting Underwriters shall fail at not have arranged for the Time purchase of Purchase or an Option Securities Settlement Date to purchase the Securities which it or they are obligated to purchase under this Agreement (the “Defaulted Securities”)such Notes, then the Representative Company shall be entitled to a further period of thirty-six hours within which to procure another party or other parties satisfactory to the non-defaulting Underwriters to purchase such Notes on such terms. In the event that, within the respective prescribed periods, the non-defaulting Underwriters notify the Company that the non-defaulting Underwriters have so arranged for the purchase of such Notes, or the Company notifies the non-defaulting Underwriters that it has so arranged for the purchase of such Notes, the non-defaulting Underwriters or the Company shall have the rightright to postpone the Closing Date for a period of not more than seven days, within 24 hours thereafterin order to effect whatever changes may thereby be made necessary in the Registration Statement or the Prospectus, or in any other documents or arrangements, and the Company agrees to make arrangements for one of file promptly any amendments or more supplements to the Registration Statement or the Prospectus which in the opinion of the non-defaulting Underwriters or may thereby be made necessary. The term “Underwriter” as used in this Agreement shall include any other underwriters person substituted under this Section with like effect as if such person had originally been a party to this Agreement with respect to such Notes. (b) If, after giving effect to any arrangements for the purchase all, but not less than all, of the Defaulted Securities Notes of a defaulting Underwriter or Underwriters as provided in subsection (a) above, the aggregate principal amount of such amounts as may be agreed upon and upon the terms herein set forth; provided, however, that if such arrangements shall not have been completed within such 24-hour period, then: (i) if the number of Defaulted Securities Notes which remains unpurchased does not exceed 10% one-eleventh of the number aggregate principal amount of Securities all the Notes to be so purchased by all on such Closing Date, then the Company shall have the right to require each non-defaulting Underwriter to purchase the aggregate principal amount of Notes which such Underwriter agreed to purchase hereunder on such Closing Date and, in addition, to require each non-defaulting Underwriter to purchase its pro rata share (based on the aggregate principal amount of Notes which such Underwriter agreed to purchase hereunder) of the Notes of such defaulting Underwriter or Underwriters for which such arrangements have not been made; but nothing herein shall relieve a defaulting Underwriter from liability for its default. (c) If, after giving effect to any arrangements for the purchase of the Notes of a defaulting Underwriter or Underwriters as provided in subsection (a) above, the aggregate principal amount of such Notes which remains unpurchased exceeds one-eleventh of the aggregate principal amount of all the Notes to be purchased on such dateClosing Date, or if the Company shall not exercise the right described in subsection (b) above to require non-defaulting Underwriters shall be obligated, severally and not jointly, to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears to the purchase obligations Notes of all non-a defaulting Underwriter or Underwriters; or (ii) if the number of Defaulted Securities exceeds 10% of the number of Securities to be so purchased by all of the Underwriters on such date, then this Agreement orshall thereupon terminate, with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, and the Company to sell, the Option Securities to be purchased and sold on such Option Securities Settlement Date shall terminate without liability on the part of any non-defaulting Underwriter. No action taken pursuant Underwriter or the Company, except for the expenses to this be borne by the Company and the Underwriters as provided in Section 7 4(j) hereof and the indemnity and contribution agreements in Section 6 hereof; but nothing herein shall relieve any a defaulting Underwriter from liability in respect of for its default. In the event of any such default which does not result in a termination of this Agreement, or, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may be, either the Representative or the Company shall have the right to postpone the Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period not exceeding seven (7) days in order to effect any required changes in the Registration Statement, the Disclosure Package or the Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7.

Default. If one or more Underwriters shall fail at Pledgor (a) defaults in the Time of Purchase or an Option Securities Settlement Date to purchase the Securities which it or they are obligated to purchase under this Agreement (the “Defaulted Securities”), then the Representative shall have the right, within 24 hours thereafter, to make arrangements for one of or more payment of the non-defaulting Underwriters principal ------- under either of the Notes when either of them becomes due (whether upon demand, acceleration or otherwise) or any other underwriters event of default under either of the Notes or this Agreement occurs (including, without limitation, the bankruptcy or insolvency of Pledgor) or (b) defaults in the payment of interest or any other amount related to purchase alleither of the Notes, but the Company may (following five (5) days notice to Executive, during which the default is not cured) exercise any and all the rights, powers and remedies of any owner of the Pledged Interests (including the right to vote the Pledged Interests and receive any distributions with respect to such Pledged Interests) and shall have and may exercise without demand any and all the rights and remedies granted to a secured party upon default under the Uniform Commercial Code of Delaware or otherwise available to the Company under applicable law. Without limiting the foregoing, after the occurrence of and during the continuance of a default, the Company is authorized to sell, assign and deliver at its discretion, from time to time, all or any part of the Collateral at any private sale or public auction, on not less than allten days written notice to Pledgor, at such price or prices and upon such terms as the Company may deem advisable. Pledgor shall have no right to redeem the Collateral after any such sale or assignment. At any such sale or auction, the Company may bid for, and become the purchaser of, the whole or any part of the Defaulted Securities Pledged Interests offered for sale. In case of any such sale, after deducting the costs, attorneys' fees and other expenses of sale and delivery, the remaining proceeds of such sale shall be applied to the principal of and accrued interest on the Notes and other amounts related thereto (including costs, attorneys' fees associated with enforcement hereof); provided that after payment -------- in such amounts as may full of the indebtedness evidenced by both of the Notes, the balance of the proceeds of sale then remaining shall be agreed upon paid to Pledgor and upon Pledgor shall be entitled to the terms herein set forth; provided, however, that if such arrangements return of any of the Pledged Interests remaining in the hands of the Company. Pledgor shall not have been completed within such 24-hour period, then: be liable for any deficiency (ito the extent liable therefor under the Notes) if the number remaining proceeds are insufficient to pay the indebtedness under the Notes in full, including the fees of Defaulted Securities does not exceed 10% of the number of Securities to be so purchased any attorneys employed by all of the Underwriters on such date, the non-defaulting Underwriters shall be obligated, severally and not jointly, to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears to the purchase obligations of all non-defaulting Underwriters; or (ii) if the number of Defaulted Securities exceeds 10% of the number of Securities to be so purchased by all of the Underwriters on such date, this Agreement or, with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, and the Company to sell, the Option Securities to be purchased and sold on collect such Option Securities Settlement Date shall terminate without liability on the part of any non-defaulting Underwriter. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter from liability in respect of its default. In the event of any such default which does not result in a termination of this Agreement, or, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may be, either the Representative or the Company shall have the right to postpone the Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period not exceeding seven (7) days in order to effect any required changes in the Registration Statement, the Disclosure Package or the Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7deficiency.

Default. (a) The Buyer may, by written notice of default to the Seller, terminate the whole or any part of this Subcontract in any one of the following circumstances: (i) if Seller fails to make progress in the work so as to endanger performance delivery of the supplies or to perform the services within the time specified herein or any extension thereof; or (ii) if Seller fails to perform any of the other provisions of this Subcontract in accordance with its terms, and in either of these two circumstances does not cure such failure within a period of 10 days (or such longer period as Buyer may authorize in writing) after receipt of notice from the Buyer specifying such failure; or (iii) Seller becomes insolvent or the subject of proceedings under any law relating to bankruptcy or the relief of debtors or admits in writing its inability to pay its debts as they become due. (b) If one this Subcontract is so terminated, Seller shall submit a final termination settlement proposal to the Buyer. The Seller shall submit the proposal promptly but no later than six (6) months from the effective date of the termination. If Seller fails to submit the proposal within the time allowed, the Buyer may determine the amount, if any, due the Seller because of the termination. The amount will be determined as follows; (i) An amount for direct labor hours determined by multiplying the number of direct labor hours expended before the effective date of termination by the hourly rates, less profit, in the Schedule, less any hourly rate payments already made to the Seller; (ii) An amount for material expenses incurred before the effective date of termination, not previously paid to the Seller. Buyer may procure or more Underwriters otherwise obtain, upon such terms and in such manner as Buyer may deem appropriate, supplies or services similar to those terminated, Seller, subject to the exceptions set forth below, shall fail be liable to Buyer for any excess costs of such similar supplies or services. (c) Seller shall transfer title and deliver to Buyer, in the manner and to the extent requested in writing by Buyer at or after termination such complete articles, partially completed articles and materials, parts, tools, dies, patterns, jigs, fixtures, plans, drawings, information and contract rights as Seller has produced or acquired for the Time performance of Purchase or an Option Securities Settlement Date the terminated part of this Subcontract, and Buyer will pay Seller the contract price for complete articles delivered to purchase and accepted by Buyer and the Securities which it or they are obligated fair value of the other property of Seller so requested and delivered. (d) Seller shall continue performance of this Subcontract to purchase under this Agreement (the “Defaulted Securities”), then the Representative extent not terminated. Buyer shall have no obligations to Seller with respect to the rightterminated part of this Subcontract except as herein provided. In case of Seller’s default, within 24 hours thereafterBuyer’s rights as set forth herein shall be in addition to Buyer’s other rights although not set forth in this Subcontract. (e) Seller shall not be liable for damages resulting from default due to causes beyond the Seller’s control and without Seller’s fault or negligence, to make arrangements for one of or more of the non-defaulting Underwriters or any other underwriters to purchase all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; provided, however, that if Seller’s default is caused by the default of a subcontractor or supplier, such arrangements shall not have been completed within such 24-hour perioddefault must arise out of causes beyond the control of both Seller and subcontractor or supplier, then: (i) if and without the number fault or negligence of Defaulted Securities does not exceed 10% either of them and, provided further, the number of Securities supplies or services to be so purchased furnished by all of the Underwriters on such date, the non-defaulting Underwriters shall be obligated, severally and subcontractor or supplier were not jointly, to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears to the purchase obligations of all non-defaulting Underwriters; or (ii) if the number of Defaulted Securities exceeds 10% of the number of Securities to be so purchased by all of the Underwriters on such date, this Agreement or, with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, and the Company to sell, the Option Securities to be purchased and sold on such Option Securities Settlement Date shall terminate without liability on the part of any non-defaulting Underwriter. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter obtainable from liability in respect of its default. In the event of any such default which does not result in a termination of this Agreement, or, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may be, either the Representative or the Company shall have the right to postpone the Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period not exceeding seven (7) days in order to effect any required changes in the Registration Statement, the Disclosure Package or the Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7sources.

Default. If one or more of the Underwriters participating in an offering of the Purchased Securities shall fail at the Closing Time of Purchase or an Option Securities Settlement Date to purchase the Purchased Securities which it or they are obligated to purchase under this Agreement hereunder (the “"Defaulted Securities”"), then the Representative you shall have the right, within 24 36 hours thereafter, to make arrangements satisfactory to the Company for one of or more of the non-defaulting Underwriters Underwriters, or any other underwriters underwriters, to purchase all, but not less than all, all of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; provided. If, however, that if during such arrangements 36 hours you shall not have been completed within such 24-hour periodarrangements for the purchase of all of the Defaulted Securities, then: (ia) if the number of Defaulted Securities does not exceed 10% of the number of Securities to be so purchased by all aggregate principal amount of the Underwriters on such datePurchased Securities, each of the non-defaulting Underwriters shall be obligated, severally and not jointly, to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears underwriting obligations hereunder bear to the purchase underwriting obligations of all the non-defaulting Underwriters; or (iib) if the number of Defaulted Securities exceeds 10% of the number of Securities to be so purchased by all aggregate principal amount of the Underwriters on such datePurchased Securities, this Agreement or, with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, and the Company to sell, the Option Securities to be purchased and sold on such Option Securities Settlement Date shall terminate without liability on the part of any non-defaulting Underwriter. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter from liability in respect of any default of such Underwriter under this Agreement. In the event that the Company shall be entitled to but shall not elect to exercise its defaultrights under clause (a) and/or (b), the Company shall be deemed to have elected to terminate this Agreement. In the event of a default by any such default which Underwriter or Underwriters as set forth in this Section, if the Company does not result in a termination of elect to terminate this Agreement, or, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may be, either the Representative you or the Company shall have the right to postpone the Closing Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period of time not exceeding seven (7) days in order to effect that any required changes in the Registration Statement, the Disclosure Package Statement or the Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7arrangements may be effected.

Default. If one or more Underwriters shall fail at the Time of Purchase or an Option Securities Settlement Date to purchase the Securities which it or they are obligated to purchase under this Agreement (the “Defaulted Securities”), then the Representative shall have the right, within 24 hours thereafter, 11.1 Failure to make arrangements for payment of any amount payable by the Purchaser/s herein under these presents being the agreed consideration and/or the additional payments and/or deposits or otherwise within the specified time, or within 7 (seven) days of demand if no time is specified, shall amount to a default entitling the Owners-Vendors and the Developer-Vendor herein to exercise all or any of the Rights on the Purchaser’s/s’ default. 11.2 In non-compliance of any of the terms, conditions, covenants, undertakings, stipulations restrictions, prohibitions and obligations of the Purchaser/s herein including the obligations to make payment and deposit all the amounts under these presents by the Purchaser/s within the time stipulated hereto, the Owners-Vendors and Developer-Vendor herein shall be entitled to exercise all or any of the Rights on the Purchaser’s/s’ default. 11.3 The Rights of the Owners-Vendors and or the Developer-Vendor to take steps on the Purchaser’s/s’ default are independent to each other and not alternative to each other and more than one of or more of the non-defaulting Underwriters or any other underwriters to purchase all, but not less than all, of the Defaulted Securities in such amounts as said rights may be agreed upon and upon simultaneously exercised and/or enforced by the terms herein set forth; provided, however, that if such arrangements shall not have been completed within such 24-hour period, then: (i) if the number of Defaulted Securities does not exceed 10% of the number of Securities to be so purchased by all of the Underwriters on such date, the non-defaulting Underwriters shall be obligated, severally and not jointly, to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears to the purchase obligations of all non-defaulting Underwriters; or (ii) if the number of Defaulted Securities exceeds 10% of the number of Securities to be so purchased by all of the Underwriters on such date, this Agreement or, with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, Owners- Vendors and the Company to sell, the Option Securities to be purchased and sold on such Option Securities Settlement Date shall terminate without liability Developer-Vendor herein regarding any default on the part of the Purchaser/s herein. 11.4 If the Purchaser/s fails to fulfill his/her/their obligations under this agreement, the Owners-Vendors and the Developer herein shall have exclusive liberty to cancel this Agreement upon a prior 7 (seven) days notice to the Purchaser/s and shall be entitled to forfeit 3% of the total agreed consideration of the subject Flat/unit and refund the balance without paying any noninterest to the purchaser/s within 3 (three) months from the date of such cancellation and the Owners-defaulting Underwriter. No action taken pursuant Vendors and the Developer-Vendor in that event immediate after such cancellation shall have full liberty to this Section 7 shall relieve any defaulting Underwriter from liability enter into a fresh booking and or agreement in respect of the subject unit with any intending purchaser or purchasers at its defaultown choice and discretion after intimating to the Purchaser/s of such matter of cancellation and the Purchaser/s herein hereby agreed with and consent to the same. The Notice served by the Owners-Vendors or the Developer-Vendor to the Purchaser/s either by hand delivery or by Speed Post in this respect shall be treated as the Owners-Vendors’ as well the Developer-Vendor’s obligation in this regard is fulfilled. 11.5 In the event of any such default which does not result in a termination of this Agreement, or, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase default by Owners-Vendors and the Company to sell the relevant Option Securities, as the case may be, either the Representative or the Company shall have the right to postpone the Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period not exceeding seven (7) days in order to effect any required changes in the Registration Statement, the Disclosure Package or the Prospectus or in any other documents or arrangements. As used Developer-Vendor herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7Purchaser/s herein shall be entitled to claim specific performance.

Default. If one or more Underwriters shall fail at Except as otherwise provided in this Agreement, if following the Time delivery of Purchase or an Option Securities Settlement Date a drawdown notice, a Unitholder fails to purchase fund a required capital commitment by the Securities which it or they are obligated to purchase under this Agreement applicable Funding Deadline and such failure remains uncured through the tenth calendar day following the applicable Funding Deadline (such tenth day, the “Defaulted SecuritiesLast Funding Date”), then such Unitholder shall be delinquent in its obligations. Any payments made by such Unitholder after the Representative applicable Last Funding Date (or any payments made prior to the Last Funding Date in amounts less than such Unitholder’s required capital commitment) will not be accepted by the Company, and such Unitholder, other than a Defaulting Unitholder (as defined below), will be required to fund such capital commitment together with any new required capital commitment, in respect of the next applicable Funding Deadline. A Unitholder shall have be deemed to be delinquent as to a Funding Deadline if it has failed to fund the rightrequired capital commitment for that Funding Deadline or if the Unitholder has any outstanding obligations in respect of a prior Funding Deadline, within 24 hours thereafter, which remain unsatisfied as of such Last Funding Date. Any Unitholder making a Commitment or increasing its Commitment on a Subsequent Closing Date that fails to make arrangements required purchases in accordance with 3.3.2 shall also be delinquent in its obligations for one purposes of or more of the non-defaulting Underwriters or this 6. 2.1. If a Unitholder is delinquent upon three occasions at any other underwriters to purchase all, but not less than all, of the Defaulted Securities in point (such amounts as may be agreed upon and upon the terms herein set forth; provided, however, that if such arrangements shall occasions do not have been completed within to be consecutive), such 24-hour periodUnitholder (any such Unitholder, thena “Defaulting Unitholder”) will be in default of its obligations to the Company and the following remedies shall be imposed on such Defaulting Unitholder: (a) it will be prohibited from purchasing additional Common Units on any future Drawdown Date (and common units in the Parallel Feeder and the Master Fund); (b) it will forfeit twenty-five percent (25%) of its Common Units, and such Common Units will be cancelled; and (c) the Company may pursue any other remedies against the Defaulting Unitholder available to the Company, subject to applicable law. In addition, the Company may, in the Company’s sole discretion, (i) if charge the number of Defaulted Securities does not exceed 10% Defaulting Unitholder with the expenses and losses incurred by the Company due to the default of the number Defaulting Unitholder (with such expenses and losses charged by transferring Units of Securities to be so purchased by all such Defaulting Unitholder on the books of the Underwriters on such date, the non-defaulting Underwriters shall be obligated, severally and not jointly, to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears to the purchase obligations of all non-defaulting UnderwritersCompany); or and/or (ii) if the number of Defaulted Securities exceeds 10% of the number of Securities to be so purchased by all of the Underwriters on such date, this Agreement or, take other actions with respect to any Option Securities Settlement DateDefaulting Unitholders, including without limitation borrowing funds to cover defaulted capital calls, at a rate established with a third-party lender or using the obligation Company’s internal capital at a rate of the Underwriters to purchaseeight percent (8%) per annum, and causing the Company Defaulting Unitholder to sell, bear the Option Securities to be purchased interest and sold on other costs associated with such Option Securities Settlement Date shall terminate without liability on the part of any non-defaulting Underwriter. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter from liability in respect of its default. In the event of any such default which does not result in a termination of this Agreement, or, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may be, either the Representative or the Company shall have the right to postpone the Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period not exceeding seven (7) days in order to effect any required changes in the Registration Statement, the Disclosure Package or the Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7borrowing.

Default. If If, on the Firm Closing Date or the Option Closing Date, as the case may be, any one or more Underwriters shall fail at the Time of Purchase or an Option Securities Settlement Date to purchase the Securities which it or they are obligated to purchase under this Agreement (the “Defaulted Securities”), then the Representative shall have the right, within 24 hours thereafter, to make arrangements for one of or more of the non-defaulting Underwriters shall fail or any other underwriters refuse to purchase allShares that it or they have agreed to purchase hereunder on such date, and the aggregate number of Shares which such defaulting Underwriter or Underwriters agreed but failed or refused to purchase is not less more than all, one-tenth of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; provided, however, that if such arrangements shall not have been completed within such 24-hour period, then: (i) if the aggregate number of Defaulted Securities does not exceed 10% of the number of Securities Shares to be so purchased by all of the Underwriters on such date, the other Underwriters shall be obligated severally in the proportions that the number of Firm Shares set forth opposite their respective names in Schedule 1 bear to the aggregate number of Firm Shares set forth opposite the names of all such non-defaulting Underwriters shall be obligatedUnderwriters, severally and not jointlyor in such other proportions as you may specify, to purchase the full amount thereof Shares which such defaulting Underwriter or Underwriters agreed but failed or refused to purchase on such date; PROVIDED that in the proportions that their respective initial purchase obligation bears to the purchase obligations of all non-defaulting Underwriters; or (ii) if no event shall the number of Defaulted Securities exceeds 10% Shares that any Underwriter has agreed to purchase pursuant to Section 4 be increased pursuant to this Section 11 by an amount in excess of one-ninth of such number of Shares without the written consent of such Underwriter. If, on the Firm Closing Date or the Option Closing Date, as the case may be, any Underwriter or Underwriters shall fail or refuse to purchase Shares and the aggregate number of Shares with respect to which such default occurs is more than one-tenth of the aggregate number of Securities Shares to be so purchased by all of the Underwriters on an such date, and arrangements satisfactory to you, the Company and the Selling Stockholders for the purchase of such Shares are not made within 36 hours after such default, this Agreement or, with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, and the Company to sell, the Option Securities to be purchased and sold on such Option Securities Settlement Date shall terminate without liability on the part of any non-defaulting Underwriter. No action taken pursuant to this Section 7 shall relieve any non- defaulting Underwriter from liability in respect of its defaultor the Company or the Selling Stockholders. In the event of any such default which does not result in a termination of this Agreement, or, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may be, either the Representative you or the Company shall have the right to postpone the Time of Purchase Firm Closing Date or the relevant Option Securities Settlement Closing Date, as the case may be, but in no event for a period not exceeding longer than seven (7) days days, in order to effect any that the required changes changes, if any, in the Registration Statement, the Disclosure Package or Statement and in the Prospectus or in any other documents or arrangementsarrangements may be effected. As used herein, the term “Underwriter” includes Any action taken under this paragraph shall not relieve any person substituted for an defaulting Underwriter from liability in respect of any default of such Underwriter under this Section 7Agreement. 12.

Default. If one or more of the Underwriters shall fail at the Closing Time or a Date of Purchase or an Option Securities Settlement Date Delivery to purchase the Immediate Delivery Offered Securities which it or they are obligated to purchase under this Agreement (the “"Defaulted Securities”"), then the Representative Representatives shall have the right, within 24 hours thereafter, to make arrangements for one of or more of the non-defaulting Underwriters Underwriters, or any other underwriters underwriters, to purchase all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; provided. If, however, that if during such arrangements 24 hours the Representatives shall not have been completed within such 24-hour periodarrangements for the purchase of all of the Defaulted Securities, then: (ia) if the number amount of Defaulted Securities does not exceed 10% of the number amount of Immediate Delivery Offered Securities to be so purchased by all of the Underwriters on such date, each of the non-defaulting Underwriters shall be obligated, severally and not jointly, to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears underwriting obligations hereunder bear to the purchase underwriting obligations of all non-defaulting Underwriters; , or (iib) if the number amount of Defaulted Securities exceeds 10% of the number of Immediate Delivery Offered Securities to be so purchased by all of the Underwriters on such date, this Agreement or, with respect to any Option Securities Settlement DateDate of Delivery which occurs after the Closing Time, the obligation of the Underwriters to purchase, purchase and of the Company to sell, sell the Option Securities to be purchased and sold on such Option Securities Settlement Date of Delivery shall terminate without liability on the part of any non-defaulting Underwriter. No action taken pursuant to this Section 7 10 shall relieve any defaulting Underwriter from liability in respect of its default. In the event of any such default which does not result in a termination of this Agreement, Agreement or, in the case of an Option Securities Settlement Datea Date of Delivery which is after the Closing Time, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may be, either any of the Representative Representatives, the Company or the Company Guarantor shall have the right to postpone the Closing Time of Purchase or the relevant Option Securities Settlement DateDate of Delivery, as the case may be, for a period not exceeding seven (7) days in order to effect any required changes in the Registration Statement, the Disclosure Package Statement or the Prospectus or in any other documents or arrangements. As used herein, the term “"Underwriter” " includes any person substituted for an Underwriter under this Section 710.

Default. If one or more of the Underwriters participating in an offering of Securities shall fail at the applicable Closing Time of Purchase or an Option Securities Settlement Date to purchase the Securities which it or they are obligated to purchase hereunder and under this the applicable Terms Agreement (the “"Defaulted Securities”"), then the Representative you shall have the right, within 24 hours thereafter, to make arrangements for one of or more of the non-defaulting Underwriters nondefaulting Underwriters, or any other underwriters underwriters, to purchase all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; provided. If, however, that if during such arrangements 24 hours you shall not have been completed within such 24-hour periodarrangements for the purchase of all of the Defaulted Securities, then: (ia) if the number aggregate principal amount of Defaulted Securities does not exceed 10% of the number aggregate principal amount of the Securities to be so purchased by all of the Underwriters on pursuant to such dateTerms Agreement, the non-defaulting Underwriters named in such Terms Agreement shall be obligated, severally and not jointly, obligated to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears underwriting obligations hereunder bear to the purchase underwriting obligations of all such non-defaulting Underwriters; , or (iib) if the number aggregate principal amount of Defaulted Securities exceeds 10% of the number of Securities to be so purchased by all aggregate principal amount of the Underwriters on such date, this Agreement or, with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, and the Company to sell, the Option Securities to be purchased and sold on pursuant to such Option Securities Settlement Date Terms Agreement, the applicable Terms Agreement shall terminate terminate, without any liability on the part of any non-defaulting UnderwriterUnderwriter or any of the Issuers. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter from liability in respect of its defaultany default of such Underwriter under this Agreement and the applicable Terms Agreement. In the event of a default by any such default which does not result Underwriter or Underwriters as set forth in a termination of this Agreement, or, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may beSection, either the Representative you or the Company Issuers shall have the right to postpone the applicable Closing Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period not exceeding seven (7) days in order to effect that any required changes in the Registration Statement, the Disclosure Package Statement or the Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7arrangements may be effected.

Default. Buyer and Seller shall proceed to Closing in accordance with the terms of the Contract, as modified by this Addendum, and each acknowledges that failure or refusal to do so for any reason other than a breach or default by the other party shall constitute a breach hereof and a default under the Contract. If one Buyer fails or more Underwriters refuses to proceed to Closing on the Closing Date, as extended, if applicable, or otherwise fails or refuses to comply with the terms, covenants and conditions of the Contract, as modified by this Addendum, for any reason other than a breach or default by Seller, then Seller’s sole and exclusive remedy shall fail at be to terminate the Time of Purchase Contract and retain any Deposit actually paid by Buyer or an Option Securities Settlement Date due from Buyer pursuant to purchase the Securities which it or they are obligated to purchase under this Agreement Contract and any Extension Fee (collectively, the “Defaulted SecuritiesMonies”), then as liquidated damages pursuant to Section 15 below, in which event the Representative parties shall have be relieved of all obligations under the rightContract, within 24 hours thereafterexcept for Buyer’s Indemnification Obligations. If Seller fails or refuses to proceed to Closing on the Closing Date, as extended, if applicable, or otherwise fails or refuses to make arrangements for one of or more comply with the terms, covenants and conditions of the non-defaulting Underwriters Contract, as modified by this Addendum, for any reason other than a breach or any other underwriters default by Buyer, then Buyer’s sole and exclusive remedy shall be to purchase allterminate the Contract and receive a refund of Monies actually paid by Buyer, but not less than allin which event the parties shall be relieved of all obligations under the Contract, except for Buyer’s Indemnification Obligations. In all events, Buyer’s Indemnification Obligations shall survive termination of the Defaulted Securities in such amounts as may be agreed upon Contract and upon the terms herein set forth; provided, however, that if such arrangements shall not have been completed within such 24-hour period, then: (i) if the number of Defaulted Securities does not exceed 10% of the number of Securities to be so purchased by all of the Underwriters on such date, the non-defaulting Underwriters Seller shall be obligatedentitled to all remedies available at law and in equity to enforce and collect Buyer’s Indemnification Obligations. Subject to Section 14 below, severally and not jointly, to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears to the purchase obligations of all non-defaulting Underwriters; or (ii) if the number of Defaulted Securities exceeds 10% of the number of Securities to be so purchased by all of the Underwriters on such date, this Agreement or, with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, and the Company to sell, the Option Securities to be purchased and sold on such Option Securities Settlement Date shall terminate without liability on the part of any non-defaulting Underwriter. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter from liability in respect of its default. In the event of any litigation or dispute between Seller and Buyer concerning the release of the Monies, the sole responsibility of the broker, Title Company or escrow agent holding any Monies or other deposits or funds shall be to, at such default person’s option, (i) pay the Monies into the court in which does not result in such litigation is pending, or (ii) pay the Monies into a termination court of this Agreementproper jurisdiction by an action of interpleader. Buyer and Seller agree that, orupon payment of the Monies into court as set forth herein, neither Buyer nor Seller shall have any further right, claim, demand or action against such party regarding the release of the Monies, except for claims arising out of the gross negligence or willful misconduct of such party. Nothing contained herein or elsewhere in the case Contract shall be construed to limit the applicability of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may be, either the Representative or the Company shall have the right to postpone the Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period not exceeding seven (7) days in order to effect any required changes in the Registration Statement, the Disclosure Package or the Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 714 below.

Default. If one 7.1.1 In the event that Seller fails for any reason to close the Transaction, or more Underwriters in the event that Purchaser, based upon a material failure by Seller for any reason to operate the Stores in the Normal Course of Business, determines not to close the Transaction, then Seller shall fail at pay, or cause to be paid, to Purchaser a break-up fee in the Time amount of Purchase or an Option Securities Settlement Date to purchase the Securities which it or they are obligated to purchase under this Agreement One Hundred Thousand Dollars ($100,000.00) (the “Defaulted Securities”), then "Break-up Fee") for the Representative shall have time and resources invested and the right, within 24 hours thereafter, to make arrangements for one of or more costs and expenses incurred by Purchaser in connection with its evaluation of the non-defaulting Underwriters or any other underwriters to purchase allTransaction, but not less than all, its due diligence examination of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; provided, however, that if such arrangements shall not have been completed within such 24-hour period, then: (i) if the number of Defaulted Securities does not exceed 10% of the number of Securities to be so purchased by all of the Underwriters on such date, the non-defaulting Underwriters shall be obligated, severally and not jointly, to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears to the purchase obligations of all non-defaulting Underwriters; or (ii) if the number of Defaulted Securities exceeds 10% of the number of Securities to be so purchased by all of the Underwriters on such date, this Agreement or, with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchaseSeller, and the Company negotiation and execution of this Agreement. As security for the payment of the Fee and as a condition to sell, the Option Securities to be purchased and sold on such Option Securities Settlement Date shall terminate without liability on the part of any non-defaulting Underwriter. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter from liability in respect of its default. In the event of any such default which does not result in a termination Purchaser's execution of this Agreement, orSeller has arranged for Silicon Valley Bank ("Bank") to issue to Purchaser the Bank's irrevocable standby letter of credit in the amount of the Fee (the "Letter of Credit"). Any occurrence, act or omission ("Triggering Event") that would constitute a cause for the payment of the Break-Up Fee To Purchaser under this Agreement shall require payment to Purchaser by the Bank. The Letter of Credit, in the case form attached hereto as Exhibit 7.1.1, shall be delivered to Purchaser by the Bank prior to the execution of an Option Securities Settlement Date, which does not result in a termination this Agreement. For purposes of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may be, either the Representative or the Company shall have the right to postpone the Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period not exceeding seven (7) days in order to effect any required changes in the Registration Statement, the Disclosure Package or the Prospectus or in any other documents or arrangements. As used hereinthis Section 7.1.1, the term “Underwriter” includes "material failure" shall mean a failure that is reasonably likely to have a material adverse effect on the Assets or business of Seller at the Stores. 7.1.2 In the event that a default occurs, Purchaser must, before taking any person substituted other action, give a written notice to Seller of such a default. Seller will then have 10 business days in which to cure said default. 7.1.3 In the event all contingencies contained herein shall be met and Purchaser shall fail to purchase the Assets as provided herein (other than for an Underwriter under this a reason as set forth in Section 77.1.1), the Purchaser shall reimburse Seller for the cost of all fees, costs and expenses it may have incurred or thereafter incur, including but not limited to attorney's fees, and at Seller's option, Seller may seek specific performance and/or any remedy available at law or equity.

Default. If any one or more Underwriters shall fail at the Closing Time of Purchase or an Option Securities Settlement Date to purchase and pay for any of the Securities which it Offered Certificates agreed to be purchased by such Underwriter or they are obligated Underwriters pursuant to this Agreement and such failure to purchase shall constitute a default in the performance of its or their obligations under this Agreement Agreement, the remaining Underwriters shall be obligated severally to take up and pay for (in the “Defaulted Securities”)respective proportions which the aggregate face amount of Offered Certificates specified to be purchased by them in Schedule I bears to the aggregate face amount of Offered Certificates to be purchased by all the remaining Underwriters) the Offered Certificates which the defaulting Underwriter or Underwriters agreed but failed to purchase; provided, then however, that in the Representative event that the aggregate face amount of Offered Certificates that the defaulting Underwriter or Underwriters agreed but failed to purchase shall exceed 10% of the aggregate face amount of Offered Certificates to be purchased pursuant to this Agreement, the remaining Underwriters shall have the right, but not the obligation within 24 hours thereafter, to make arrangements for one of or more of the non-defaulting Underwriters or any other underwriters to purchase all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon Offered Certificates, and upon the terms herein set forth; provided, however, that if such nondefaulting Underwriters do not complete such arrangements shall not have been completed within such 24-24 hour period, then: (i) if the number of Defaulted Securities does not exceed 10% of the number of Securities to be so purchased by all of the Underwriters on such date, the non-defaulting Underwriters shall be obligated, severally and not jointly, to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears to the purchase obligations of all non-defaulting Underwriters; or (ii) if the number of Defaulted Securities exceeds 10% of the number of Securities to be so purchased by all of the Underwriters on such date, then this Agreement or, with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, and the Company to sell, the Option Securities to be purchased and sold on such Option Securities Settlement Date shall will terminate without liability on to any nondefaulting Underwriters or the part of any non-defaulting Underwriter. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter from liability in respect of its defaultCompany. In the event of any such termination, the provisions of Sections 5, 6 and 8 shall remain in effect. In the event of a default which by any Underwriter as set forth in this Section 7 that does not result in a termination of this Agreement, orthe Closing Time shall be postponed for such period, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securitiesexceeding seven days, as the case may be, either the Representative nondefaulting Underwriters or the Company shall have the right to postpone the Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period not exceeding seven (7) days determine in order to effect any that the required changes in the Registration Statement, the Disclosure Package or Statement and the Prospectus or in any other documents or arrangementsarrangements may be effected. As used hereinNothing contained in this Agreement shall relieve any defaulting Underwriter of its liability, if any, to the term “Underwriter” includes Company and to any person substituted nondefaulting Underwriters for an Underwriter under this Section 7damages occasioned by its default hereunder.

Default. If one or more Underwriters (a) A party shall fail at be in default hereunder (other than by reason of a Force Majeure Event) in the Time event that such party shall default in the performance of Purchase or an Option Securities Settlement Date to purchase any of its obligations hereunder, which default remains uncured forty-five (45) days following receipt of notice specifying the Securities which it or they are obligated to purchase under this Agreement (nature of the “Defaulted Securities”), then the Representative shall have the right, within 24 hours thereafter, to make arrangements for one of or more of default from the non-defaulting Underwriters or any other underwriters to purchase allparty, but not less unless the cure would require more than all45 days, of in which case the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; provided, however, that if such arrangements party shall not have been completed within be deemed in default if it has promptly commenced diligent efforts to cure the default following notice and continues such 24-hour period, then: (i) if the number of Defaulted Securities does not exceed 10% of the number of Securities to be so purchased by all of the Underwriters on efforts until such date, the non-defaulting Underwriters shall be obligated, severally and not jointly, to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears to the purchase obligations of all non-defaulting Underwriters; or (ii) if the number of Defaulted Securities exceeds 10% of the number of Securities to be so purchased by all of the Underwriters on such date, this Agreement or, with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, and the Company to sell, the Option Securities to be purchased and sold on such Option Securities Settlement Date shall terminate without liability on the part of any non-defaulting Underwriter. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter from liability in respect of its defaultdefault is cured. In the event of any such default, the non-defaulting party may at its option terminate this Agreement by written notice. Any termination by Petrowax by reason of Quaker State's default which does hereunder shall not result limit Petrowax's rights to payment of any fee due hereunder for prior processing. Any termination by Quaker State by reason of Petrowax's default hereunder shall entitle Quaker State to terminate delivery of Products under the Slack Wax Agreements, but in the event of any such termination Quaker State shall be entitled to any processing Earned but not utilized prior to termination. (b) In the event that (i) either or both of the Plants ceases to operate for more than sixty (60) days (other than temporarily by reason of a termination Force Majeure Event) and (ii) Petrowax or its assignees notify Quaker State in writing that no further purchases of Products shall be made under the Slack Wax Agreements, then provided that Quaker State continues to be given access to the nonoperating Plant or Plants for the purpose of processing wastewater at Quaker State's own cost, Quaker State shall have no claim for damages against Petrowax under or arising out of this AgreementAgreement for the failure of Petrowax to furnish waste water processing at that Plant or Plants. In the event that prior to the confirmation of a plan of reorganization for Petrowax in its Chapter 11 proceeding Quaker State is neither furnished processing at a Plant by Petrowax pursuant to this Agreement nor is Quaker State provided access to the Plant for performing processing itself, orand provided that the reason for such nonperformance and unavailability of access is other than a Force Majeure Event, then Quaker State shall be entitled to damages for breach of this Agreement to compensate it for processing Earned but not utilized, but such damages shall not exceed an amount equal to the price per 1,000 gallons set forth in the case table in Section 5(a) hereof multiplied by the number of an Option Securities Settlement Date, 1,000 gallons for which does not result in a termination of the obligation of the Underwriters Quaker State reasonably would have requested and been able to purchase and the Company to sell the relevant Option Securities, as the case may be, either the Representative or the Company shall have the right to postpone the Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, obtain processing at that Plant for a time period equal to the remaining period for which processing has been Earned but not exceeding seven (7) days in order to effect any required changes in the Registration Statement, the Disclosure Package or the Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7utilized.

Default. If one or more of the Underwriters shall fail at the Closing Time or a Date of Purchase or an Option Securities Settlement Date Delivery to purchase the Immediate Delivery Offered Securities which it or they are obligated to purchase under this Agreement (the “"Defaulted Securities”"), then the Representative Representatives shall have the right, within 24 hours thereafter, to make arrangements for one of or more of the non-defaulting Underwriters Underwriters, or any other underwriters underwriters, to purchase all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; provided. If, however, that if during such arrangements 24 hours the Representatives shall not have been completed within such 24-hour periodarrangements for the purchase of all of the Defaulted Securities, then: (ia) if the number amount of Defaulted Securities does not exceed 10% of the number amount of Immediate Delivery Offered Securities to be so purchased by all of the Underwriters on such date, each of the non-defaulting Underwriters shall be obligated, severally and not jointly, to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears underwriting obligations hereunder bear to the purchase underwriting obligations of all non-defaulting Underwriters; , or (iib) if the number amount of Defaulted Securities exceeds 10% of the number of Immediate Delivery Offered Securities to be so purchased by all of the Underwriters on such date, this Agreement or, with respect to any Option Securities Settlement DateDate of Delivery which occurs after the Closing Time, the obligation of the Underwriters to purchase, purchase and of the Company to sell, sell the Option Securities to be purchased and sold on such Option Securities Settlement Date of Delivery shall terminate without liability on the part of any non-defaulting Underwriter. No action taken pursuant to this Section 7 10 shall relieve any defaulting Underwriter from liability in respect of its default. In the event of any such default which does not result in a termination of this Agreement, Agreement or, in the case of an Option Securities Settlement Datea Date of Delivery which is after the Closing Time, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may be, either the Representative Representatives or the Company shall 38 42 have the right to postpone the Closing Time of Purchase or the relevant Option Securities Settlement DateDate of Delivery, as the case may be, for a period not exceeding seven (7) days in order to effect any required changes in the Registration Statement, the Disclosure Package Statement or the Prospectus or in any other documents or arrangements. As used herein, the term “"Underwriter” " includes any person substituted for an Underwriter under this Section 710.

Default. If one or more of the Underwriters shall fail at the Closing Time of Purchase or an Option Securities Settlement Date to purchase the Securities which it or they are obligated to purchase hereunder and under this the Terms Agreement (the “Defaulted Securities”), then the Representative you shall have the right, within 24 36 hours thereafter, to make arrangements for one of or more of the non-defaulting Underwriters Underwriters, or any other underwriters underwriters, to purchase all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; provided. If, however, that if during such arrangements 36 hours you shall not have been completed within such 24-hour period, arrangements for the purchase of all the Defaulted Securities then: (ia) if the number aggregate amount of Defaulted Securities does not exceed 10% of the number aggregate amount of the Securities to be so purchased by all of pursuant to the Underwriters on such dateTerms Agreement, the non-defaulting Underwriters shall be obligated, severally and not jointly, obligated to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears underwriting obligations hereunder bear to the purchase underwriting obligations of all such non-defaulting Underwriters; , or (iib) if the number aggregate amount of Defaulted Securities exceeds 10% of the number of Securities to be so purchased by all aggregate amount of the Underwriters on such date, this Agreement or, with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, and the Company to sell, the Option Securities to be purchased and sold on such Option Securities Settlement Date pursuant to the Terms Agreement, this Agreement shall terminate terminate, without any liability on the part of any non-defaulting UnderwriterUnderwriter or the Company. As used in this Section only, the “aggregate amount” of Securities shall mean the aggregate principal amount of any Senior Debt Securities plus the public offering price of any Warrants. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter from liability in respect of its defaultany default of such Underwriter under this Agreement. In the event of a default by any such default which does not result Underwriter or Underwriters as set forth in a termination of this Agreement, or, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may beSection, either the Representative you or the Company shall have the right to postpone the Closing Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period not exceeding seven (7) days in order to effect that any required changes in the Registration Statement, Statement and the Disclosure Package or the Final Prospectus Supplement or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7arrangements may be effected.

Default. If If, on the Closing Date any one or more Underwriters shall fail at the Time of Purchase or an Option Securities Settlement Date to purchase the Securities which it or they are obligated to purchase under this Agreement (the “Defaulted Securities”), then the Representative shall have the right, within 24 hours thereafter, to make arrangements for one of or more of the non-defaulting Underwriters shall fail or any other underwriters refuse to purchase allOffered Certificates that it has or they have agreed to purchase hereunder on such date, and the aggregate principal amount of Offered Certificates which such defaulting Underwriter or Underwriters agreed but failed or refused to purchase is not less more than all, one-tenth of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; provided, however, that if such arrangements shall not have been completed within such 24-hour period, then: (i) if the number of Defaulted Securities does not exceed 10% aggregate principal amount of the number of Securities Offered Certificates to be so purchased by all of the Underwriters on such date, the other Underwriters shall be obligated severally in the proportions that the principal amount of Offered Certificates specified to be purchased by them on Schedule II bears to the aggregate principal amount of Offered Certificates specified to be purchased by all such non-defaulting Underwriters shall be obligatedUnderwriters, severally and not jointlyor in such other proportions as you may specify, to purchase the full Offered Certificates which such defaulting Underwriter or Underwriters agreed but failed or refused to purchase on such date; provided that in no event shall the principal amount thereof of Offered Certificates that any Underwriter has agreed to purchase pursuant to Section 2 be increased pursuant to this Section 9 by an amount in excess of one-ninth of such principal amount of Offered Certificates without the proportions that their respective initial written consent of such Underwriter. If on the Closing Date any Underwriter or Underwriters shall fail or refuse to purchase obligation bears Offered Certificates and the aggregate principal amount of Offered Certificates with respect to the purchase obligations of all nonwhich such default occurs is more than one-defaulting Underwriters; or (ii) if the number of Defaulted Securities exceeds 10% tenth of the number aggregate principal amount of Securities Offered Certificates to be so purchased by all of the Underwriters on such date, this Agreement or, with respect and arrangements satisfactory to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, you and the Company to sellfor the purchase of such Offered Certificates are not made within 36 hours after such default, the Option Securities to be purchased and sold on such Option Securities Settlement Date this Agreement shall terminate without liability on the part of any non-defaulting Underwriter. No action taken pursuant , the Company or the Guarantor, except that the Company and the Guarantor will continue to this Section 7 shall relieve be liable for the payment of expenses for any non- defaulting Underwriter from liability to the extent set forth in respect of its defaultSection 6. In the event of any such default which does not result in a termination of this Agreement, or, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may be, either the Representative you or the Company shall have the right to postpone the Time of Purchase or the relevant Option Securities Settlement Closing Date, as the case may bebut in no event for longer than seven days, for a period not exceeding seven (7) days in order to effect any that the required changes changes, if any, in the Registration Statement, the Disclosure Package or Statement and in the Prospectus or in any other documents or arrangementsarrangements may be effected. As used herein, the term “Underwriter” includes Any action taken under this paragraph shall not relieve any person substituted for an defaulting Underwriter from liability in respect of any default of such Underwriter under this Section 7Agreement. If this Agreement shall be terminated by the Underwriters, or any of them, because of any failure or refusal on the part of the Guarantor or the Company to comply with the terms or to fulfill any of the conditions of this Agreement, or if for any reason the Guarantor or the Company shall be unable to perform its obligations under this Agreement, the Company will reimburse the Underwriters or such Underwriters as have so terminated this Agreement with respect to themselves, severally, for all out- of-pocket expenses (including the reasonable fees and disbursements of their counsel) reasonably incurred by such Underwriters in connection with this Agreement or the offering contemplated hereunder.

Default. If one or more Underwriters shall fail at the Time of Purchase or an Option Securities Settlement Date to purchase the Securities which it or they are obligated to purchase under this Agreement (the “Defaulted Securities”), then the Representative shall have the right, within 24 hours thereafter, to make arrangements for one of or more of the non-defaulting Underwriters or any other underwriters to purchase all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; provided, however, that if such arrangements shall not have been completed within such 24-24 hour period, then: (ia) if the number of Defaulted Securities does not exceed 10% of the number of Securities to be so purchased by all of the Underwriters on such date, the non-defaulting Underwriters shall be obligated, ; severally and not jointly, to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears to the purchase obligations of all non-defaulting Underwriters; or (iib) if the number of Defaulted Securities exceeds 10% of the number of Securities to be so purchased by all of the Underwriters on such date, this Agreement or, with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, and the Company to sell, the Option Securities to be purchased and sold on such Option Securities Settlement Date shall terminate without liability on the part of any non-defaulting Underwriter. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter from liability in respect of its default. In the event of any such default which does not result in a termination of this Agreement, or, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may be, either the Representative or the Company shall have the right to postpone the Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period not exceeding seven (7) days in order to effect any required changes in the Registration Statement, the Disclosure Package or the Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7.

Default. If one 8.1 In the event of default by LESSEE in the payment of any sum of money or more Underwriters the submission of any report under Paragraph 3.6, LESSOR shall fail have, without notice or demand to LESSEE, a lien on all machinery, equipment, structures, and other property of LESSEE of every kind wherever located on the Leased Premises at the Time time of Purchase the event of default and thereafter. Upon default continuing for thirty (30) days for any payment due or an Option Securities Settlement Date any reports to purchase be submitted to LESSOR, such lien may be enforced as provided by the Securities which it laws of the State of Illinois, including without limitation the Illinois Uniform Commercial Code. In the event of LESSEE’S failure to pay any royalty or they are obligated any other sum due to purchase LESSOR under this Agreement when due, LESSOR shall provide LESSEE with written notice of said default (the “Defaulted SecuritiesDefault Notice”). Upon the further failure of LESSEE to pay such royalty or other sum due LESSOR under this Agreement within thirty (30) days after delivery of the Default Notice by LESSOR, then the Representative LESSOR shall have the rightright without further notice to LESSEE to: 1) Exercise any of the remedies set forth herein or allowed under the laws of the State of Illinois to collect from LESSEE any sum of money due LESSOR hereunder; and/or 2) Receive payment from LESSEE, as liquidated damages, twice the amount due, plus interest from the date due, within 24 hours thereafter, to make arrangements for one of or more ten (10) days after delivery of the non-defaulting Underwriters or any other underwriters to purchase all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forthDefault Notice; provided, however, that if such arrangements in the event that any royalty or other sum due LESSOR under this Agreement is the subject of a bona fide dispute, LESSEE shall notify LESSOR of the disputed portion, and shall promptly pay the portion of the royalty or sum not in dispute, and, in which case, LESSOR’S right to receive the above described liquidated damages shall not have been completed within such 24-hour period, then: (i) if the number of Defaulted Securities does not exceed 10% of the number of Securities to be so purchased by all of the Underwriters on such date, the non-defaulting Underwriters shall be obligated, severally and not jointly, to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears to the purchase obligations of all non-defaulting Underwritersapply; or 3) Terminate this Agreement at any time following the date that is ten (ii10) if the number of Defaulted Securities exceeds 10% days after delivery of the number Default Notice if LESSEE has failed to pay LESSOR in full. 8.2 Neither LESSOR’S failure to give, nor any delay in giving, a Default Notice as herein provided shall be deemed a waiver by LESSOR of Securities to be so purchased by all of the Underwriters on such date, this Agreement or, with respect its rights pursuant to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, and the Company to sell, the Option Securities to be purchased and sold on such Option Securities Settlement Date shall terminate without liability on the part of any non-defaulting Underwriter. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter from liability in respect of its default. default by LESSEE. 8.3 In the event of LESSEE has failed to comply with any such default which does not result in a termination of obligations under this Agreement, other than those in Paragraph 8.1, whether express or implied, and LESSEE does not remedy such failure within thirty (30) days after delivery of a Default Notice, or, in the case of an Option Securities Settlement Dateif such failure cannot reasonably be remedied within thirty (30) days, which and LESSEE does not result in commence bona fide efforts to remedy such failure within such thirty (30) day period, and thereafter, continuously and diligently pursue such efforts to a termination successful conclusion, LESSOR may terminate this Agreement by providing LESSEE with written notice pursuant thereto and/or exercise any of the obligation remedies set forth in this Agreement or allowed under the laws of the Underwriters to purchase and the Company to sell the relevant Option SecuritiesState of Illinois. 8.4 Notwithstanding Paragraph 8.1, as the case may be, either the Representative or the Company LESSOR shall have the right right, upon written notice, to postpone assess interest on all past due royalties or other payments at the rate of one and one-half percent (1.5%) per month from the date of delinquency until paid. The date of delinquency shall be the last day of the month on which payment was due. Time periods provided to cure defaults do not effect the determination of Purchase the date of delinquency or the relevant Option Securities Settlement Date, as assessment of interest to be assessed against delinquent payments. An assessment of interest shall in no way be deemed to be a waiver of LESSEE’S obligation to pay all royalties when due or to be a waiver or bar to the case may be, for a period not exceeding seven (7) days in order to effect subsequent exercise or enforcement by LESSOR of any required changes in the Registration Statement, the Disclosure Package or the Prospectus or in any and all other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter rights provided under this Section 7Agreement or applicable law.

Default. If one or more of the Underwriters shall fail at the Closing Time or a Date of Purchase or an Option Securities Settlement Date Delivery to purchase the Immediate Delivery Offered Securities which it or they are obligated to purchase under this Agreement (the “"Defaulted Securities”"), then the Representative Representatives shall have the right, within 24 hours thereafter, to make arrangements for one of or more of the non-defaulting Underwriters Underwriters, or any other underwriters underwriters, to purchase all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; provided. If, however, that if during such arrangements 24 hours the Representatives shall not have been completed within such 24-hour periodarrangements for the purchase of all of the Defaulted Securities, then: (ia) if the number amount of Defaulted Securities does not exceed 10% of the number amount of Immediate Delivery Offered Securities to be so purchased by all of the Underwriters on such date, each of the non-defaulting Underwriters shall be obligated, severally and not jointly, to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears underwriting obligations hereunder bear to the purchase underwriting obligations of all non-defaulting Underwriters; , or (iib) if the number amount of Defaulted Securities exceeds 10% of the number of Immediate Delivery Offered Securities to be so purchased by all of the Underwriters on such date, this Agreement or, with respect to any Option Securities Settlement DateDate of Delivery which occurs after the Closing Time, the obligation of the Underwriters to purchase, purchase and of the Company to sell, sell the Option Securities to be purchased and sold on such Option Securities Settlement Date of Delivery shall terminate without liability on the part of any non-defaulting Underwriter. No action taken pursuant to this Section 7 10 shall relieve any defaulting Underwriter from liability in respect of its default. In the event of any such default which does not result in a termination of this Agreement, Agreement or, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may be, either the Representative or the Company shall have the right to postpone the Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period not exceeding seven (7) days in order to effect any required changes in the Registration Statement, the Disclosure Package or the Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7.Date of

Default. If one or more Underwriters shall fail at the Time of Purchase or an Option Securities Settlement Date to purchase the Securities which it or they are obligated to purchase under this Agreement (the “Defaulted Securities”)15.1 A default occurs, then the Representative shall have the right, within 24 hours thereafter, to make arrangements for one of or more of the non-defaulting Underwriters or any other underwriters to purchase all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; provided, however, that if such arrangements shall not have been completed within such 24-hour period, thenIf: (ia) if the number Customer commits a breach of Defaulted Securities does this agreement and has not exceed 10% remedied the breach within seven days of the number of Securities being given notice in writing by OBEPR to be so purchased by all of the Underwriters on such date, the non-defaulting Underwriters shall be obligated, severally and not jointly, do so; or, (b) The Customer fails to purchase the full pay any amount thereof in the proportions that their respective initial purchase obligation bears to the purchase obligations of all non-defaulting Underwriterswhen due; or (iic) if OBEPR has any reasonable grounds to believe that the number Customer may not be able to make due and punctual payment to OBEPR of Defaulted Securities exceeds 10% of any monies owing by the number of Securities Customer, or the Customer is in default or has failed to be so purchased make any payment due under this agreement; or (d) the Customer goes into bankruptcy, liquidation, or administration; (e) the Customer is wound up or an application is made to wind up the Customer or declare the Customer bankrupt, then all monies payable by the Customer to OBEPR may, at OBEPR’s election, become immediately due and payable, despite the due date for payment not being reached. 15.2 In addition to any other rights at law and as permitted under this agreement, OBEPR may do any or all of the Underwriters on such date, following: (a) terminate this Agreement or, with respect to agreement; (b) withhold further delivery of any Option Securities Settlement Date, Materials; (c) cease undertaking any Works. 15.3 If We end this agreement under section 13 You must pay Us any costs We incur as a result of ending the obligation of the Underwriters to purchaseagreement, and the Company to sell, the Option Securities to be purchased and sold on such Option Securities Settlement Date shall terminate without liability on the part of any non-defaulting Underwriter. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter from liability costs We have already incurred in respect of its default. the delivery or installation of the System. 15.4 if You fail to pay any amount that is due and payable under this Contract, We will be entitled to Interest on the unpaid amount from the due date until the date it is paid. 15.5 In the event of any such default where your overdue account is referred to a collection agency and/or law firm, the Customer will be liable for all costs which does not result would be incurred as if the debt is collected in a termination of this Agreementfull, orincluding legal demand costs. 15.6 To the maximum extent permitted by Law and, in addition to any other rights, You irrevocably agree that if You have not made payment in full to OBEPR by the case of an Option Securities Settlement Datedue date for such payment, which does OBEPR may notify the Customer and the Customer must not result unreasonably object to allowing OBEPR to repossess the Materials. The Customer (and its successors and assigns, including any administrator, receiver or manager or liquidator) must not object to or obstruct OBEPR or its agents, from entering the Site for this purpose and indemnifies OBEPR from any claims arising from or loss incurred by OBEPR in a termination relation to the repossession or removal of the obligation of Materials from the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may be, either the Representative or the Company shall have the right to postpone the Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period not exceeding seven (7) days in order to effect any required changes in the Registration Statement, the Disclosure Package or the Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7Site.

Default. If any one or more Underwriters shall fail at the Time of Purchase or an Option Securities Settlement applicable Closing Date to purchase and pay for any of the Securities which it Shares agreed to be purchased by such Underwriter or they are obligated Underwriters pursuant to this Agreement and such failure to purchase shall constitute a default in the performance of its or their obligations under this Agreement Agreement, the remaining Underwriters shall be obligated severally, and not jointly, to take up and pay for (in the “Defaulted Securities”)respective proportions which the aggregate number of Shares specified to be purchased by each of them in Schedule I hereto bears to the aggregate number of Shares to be purchased by all the remaining Underwriters) the Shares which the defaulting Underwriter or Underwriters agreed but failed to purchase; provided, then however, that in the Representative event that the aggregate number of Shares that the defaulting Underwriter or Underwriters agreed but failed to purchase shall exceed 10% of the aggregate number of Shares to be purchased pursuant to this Agreement, the remaining Underwriters shall have the right, right within 24 36 hours thereafter, to make arrangements for one of or more to purchase all, but shall not be under any obligation to purchase any, of the Shares, and if such non-defaulting Underwriters do not purchase all the Shares, this Agreement will terminate without liability to any non-defaulting Underwriters or any other underwriters to purchase all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; provided, however, that if such arrangements shall not have been completed within such 24-hour period, then: (i) if the number of Defaulted Securities does not exceed 10% of the number of Securities to be so purchased by all of the Underwriters on such date, the non-defaulting Underwriters shall be obligated, severally and not jointly, to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears to the purchase obligations of all non-defaulting Underwriters; or (ii) if the number of Defaulted Securities exceeds 10% of the number of Securities to be so purchased by all of the Underwriters on such date, this Agreement or, with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, and the Company to sell, the Option Securities to be purchased and sold on such Option Securities Settlement Date shall terminate without liability on the part of any non-defaulting Underwriter. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter from liability in respect of its defaultCompany. In the event of any such termination, the provisions of Sections 5, 6 and 8 hereof shall remain in effect. In the event of a default which by any Underwriter as set forth in this Section 7 that does not result in a termination of this Agreement, orthe applicable Closing Date shall be postponed for such period, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securitiesexceeding seven days, as the case may be, either the Representative Representatives or the Company shall have the right to postpone the Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period not exceeding seven (7) days determine in order to effect any that the required changes in the Registration Statement, the General Disclosure Package or and the Final Prospectus or in any other documents or arrangementsarrangements may be effected. As used hereinNothing contained in this Agreement shall relieve any defaulting Underwriter of its liability, if any, to the term “Underwriter” includes Company and to any person substituted non-defaulting Underwriter for an Underwriter under this Section 7damages occasioned by its default hereunder.

Default. 15.1 If one or more Underwriters shall fail at of the Time Managers defaults in the performance of Purchase or an Option Securities Settlement its obligations on a Closing Date to purchase the Securities which it or they are obligated to purchase Firm Shares under this Agreement (the “Defaulted SecuritiesShares”), then the Representative Joint Global Coordinators shall have the right, but not the obligation, within 24 hours thereafter, to make arrangements for one of or more of the nonother Managers (each a “Non-defaulting Underwriters or any other underwriters Defaulting Manager”) to procure purchasers for or, failing which, to purchase all, but not less than all, of the Defaulted Securities Shares in such amounts as the Joint Global Coordinators may be agreed determine, upon and upon subject to the terms herein set forth; provided, however, that if out in this Agreement. If the Joint Global Coordinators have not completed such arrangements shall not have been completed within such 24-hour (or other agreed) period, then: (i) 15.1.1 if the number of Defaulted Securities Shares does not exceed 10% 10 per cent. of the aggregate number of Securities Firm Shares to be so purchased by all of the Underwriters on such date, each of the nonNon-defaulting Underwriters Defaulting Managers shall be obligatedobliged, severally and not jointly, to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears underwriting obligations hereunder bear to the purchase underwriting obligations of all nonNon-defaulting UnderwritersDefaulting Managers, provided that in no event shall the number of Firm Shares (or, as the case may be, Option Shares) that any Non-Defaulting Manager has agreed to purchase on such Closing Date be increased pursuant to this Clause 15 by an amount in excess of one-ninth of such number of Firm Shares (or, as the case may be, Option Shares) without the written consent of such Non-Defaulting Manager; or (ii) 15.1.2 if the number of Defaulted Securities Shares exceeds 10% 10 per cent. of the aggregate number of Securities Firm Shares to be so purchased by all of the Underwriters on such date, unless notice to the contrary in writing is given to the Company and the Selling Shareholder prior to the expiry of such 24-hour period, this Agreement or, with shall terminate (in the case of default in respect to any of Option Securities Settlement Date, the obligation Shares being by way of a termination of the Underwriters to purchase, and the Company to sell, the Option Securities to be purchased and sold on Managers’ obligations in respect of such Option Securities Settlement Date shall terminate Shares pursuant to Clause 3.3) without liability on the part of any nonNon-defaulting Underwriter. No Defaulting Manager. 15.2 Neither termination nor any other action taken pursuant to this Section 7 Clause 15 shall relieve any defaulting Underwriter Manager from liability in respect of its default. . 15.3 In the event of any such default which does not result in a the termination of this Agreement, orthe Joint Global Coordinators, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase Company and the Company to sell the relevant Option Securities, as the case may be, either the Representative or the Company Selling Shareholder shall have the right (without obligation) to postpone the Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, Closing Date for a period not exceeding seven (7) days Business Days in order to effect any required changes in the Registration Statement, the Disclosure Package or the Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7.

Default. (a) If one or more Underwriters shall fail the Seller defaults hereunder and fails to cure same within ten (10) days after receiving notice from Purchaser of said default, then, (A) at the Time of Purchase or an Option Securities Settlement Date to purchase the Securities which it or they are obligated to purchase under Purchaser’s option: (i) Purchaser may terminate this Agreement and the entire Deposit shall be returned, in full, to Purchaser, or (the “Defaulted Securities”), then the Representative ii) Purchaser shall have the rightright to bring an action against Seller for specific performance, including the right to an injunction or injunctions to prevent breaches of the provisions of this Agreement and to enforce specifically this Agreement; and (B) Purchaser shall have the right to bring an action against Seller for damages and for any other remedy available at law or in equity. (b) If the Purchaser defaults hereunder and fails to cure same within 24 hours thereafterten (10) days after receiving notice from Seller of said default, then, Seller’s sole remedy shall be the forfeit by Purchaser of the Deposit (to the extent deposited with the Escrow Holder at the time of default) to Seller, as liquidated damages, and this Agreement shall be null and void. THIS PROVISION FOR LIQUIDATED DAMAGES HAS BEEN SPECIALLY BARGAINED AND IS AN ESSENTIAL TERM OF THIS AGREEMENT IN LIGHT OF THE DIFFICULTY IN CALCULATING SELLER’S ACTUAL DAMAGES HEREUNDER IN THE EVENT OF BREACH BY PURCHASER. Except as otherwise expressly provided herein, Seller hereby unconditionally and irrevocably waives, to make arrangements the greatest extent permitted by law, any claim for one monetary damages against Purchaser arising as a result of a default or more misrepresentation by Purchaser hereunder, which waiver will survive the termination of this Agreement and the non-defaulting Underwriters or any Closing. (c) As a condition precedent to either party being required to proceed with the Closing, the other underwriters to purchase all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; provided, however, that if such arrangements party shall not have been completed be in default hereunder. In the event one party gives the default notice provided in subparagraphs (a) and (b) above (as applicable) to the other party prior to the Closing, the Closing Date shall be extended, as necessary, to provide for the 10-day cure period provided above. In the event the defaulting party fails to cure within such 2410-hour day period, then: (i) if the number of Defaulted Securities does not exceed 10% of the number of Securities to be so purchased by all of the Underwriters on such date, the non-defaulting Underwriters shall be obligated, severally and not jointly, to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears to the purchase obligations of all non-defaulting Underwriters; or (ii) if the number of Defaulted Securities exceeds 10% of the number of Securities to be so purchased by all of the Underwriters on such date, this Agreement or, party may proceed with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, and the Company to sell, the Option Securities to be purchased and sold on such Option Securities Settlement Date shall terminate without liability on the part of any non-defaulting Underwriter. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter from liability in respect of its defaultremedies as provided above. In the event the defaulting party cures within said 10-day period, the parties shall proceed with the Closing and the Closing Date shall be the later of any such the originally planned Closing Date or two (2) business days following the date when notice of the default which does not result in a being cured is delivered to the non-defaulting party. (d) This Section 14 shall survive the termination of this Agreement, or, in . Any default hereunder prior to the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may be, either the Representative this Agreement or the Company Closing shall have the right to postpone the Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, likewise survive same for a period not exceeding seven (7) days in order to effect any required changes in the Registration Statement, the Disclosure Package or the Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7one year thereafter.

Default. If one or more of the Underwriters shall fail at the Closing Time or a Date of Purchase or an Option Securities Settlement Date Delivery to purchase the Firm Securities which it or they are obligated to purchase under this Agreement (the “"Defaulted Securities”"), then the Representative Representatives shall have the right, within 24 hours thereafter, to make arrangements for one of or more of the non-defaulting Underwriters Underwriters, or any other underwriters underwriters, to purchase all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; provided. If, however, that if during such arrangements 24 hours the Representatives shall not have been completed within such 24-hour periodarrangements for the purchase of all of the Defaulted Securities, then: (ia) if the number amount of Defaulted Securities does not exceed 10% of the number amount of Firm Securities to be so purchased by all of the Underwriters on such date, each of the non-defaulting Underwriters shall be obligated, severally and not jointly, to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears underwriting obligations hereunder bear to the purchase underwriting obligations of all non-defaulting Underwriters; , or (iib) if the number amount of Defaulted Securities exceeds 10% of the number of Firm Securities to be so purchased by all of the Underwriters on such date, this Agreement or, with respect to any Option Securities Settlement DateDate of Delivery which occurs after the Closing Time, the obligation of the Underwriters to purchase, purchase and of the Company to sell, sell the Option Securities to be purchased and sold on such Option Securities Settlement Date of Delivery shall terminate without liability on the part of any non-defaulting Underwriter. No action taken pursuant to this Section 7 10 shall relieve any defaulting Underwriter from liability in respect of its default. In the event of any such default which does not result in a termination of this Agreement, Agreement or, in the case of an Option Securities Settlement Datea Date of Delivery which is after the Closing Time, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may be, either the Representative Representatives or the Company shall have the right to postpone the Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period not exceeding seven (7) days in order to effect any required changes in the Registration Statement, the Disclosure Package or the Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7.shall

Default. If one or more Underwriters shall fail at the Time of Purchase or an Option Securities Settlement Date to purchase the Securities which it or they are obligated to purchase under this Agreement (the “Defaulted Securities”), then the Representative Representatives shall have the right, within 24 hours thereafter, to make arrangements for one of or more of the non-defaulting Underwriters or any other underwriters to purchase all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; provided, however, that if such arrangements shall not have been completed within such 24-hour period, then: (i) if the number of Defaulted Securities does not exceed 10% of the number of Securities to be so purchased by all of the Underwriters on such date, the non-defaulting Underwriters shall be obligated, severally and not jointly, to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears to the purchase obligations of all non-defaulting Underwriters; or (ii) if the number of Defaulted Securities exceeds 10% of the number of Securities to be so purchased by all of the Underwriters on such date, this Agreement or, with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, and the Company to sell, the Option Securities to be purchased and sold on such Option Securities Settlement Date shall terminate without liability on the part of any non-defaulting Underwriter. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter from liability in respect of its default. In the event of any such default which does not result in a termination of this Agreement, or, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may be, either the Representative Representatives or the Company shall have the right to postpone the Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period not exceeding seven (7) days in order to effect any required changes in the Registration Statement, the Disclosure Package or the Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7.

Default. If one BUYER is in material default hereunder, or, on or more Underwriters before the date of closing as set forth herein, indicates that BUYER is unable or unwilling to perform and SELLER stands ready to perform SELLER's obligations, SELLER's sole and exclusive remedy shall fail at be the Time of Purchase or an Option Securities Settlement Date right to purchase the Securities which it or they are obligated to purchase under terminate this Agreement (by written notice to BUYER or BUYER's attorney and retain the “Defaulted Securities”), then deposit as reasonable liquidated damages for BUYER's inability or unwillingness to perform. It is the Representative shall have intention of the right, within 24 hours thereafter, parties hereto freely to make arrangements advance provision on the date of this Agreement for one such event in order (a) to avoid controversy, delay and expense, and (b) to specify now a reasonable amount agreeable to both for compensation to the SELLER for losses which may not be readily ascertainable or quantifiable, such as any of the following which might be necessary to place SELLER in the position SELLER would have been in had BUYER made timely performance: costs of carrying, maintaining, insuring and protecting the property; loss of interest income on the proceeds; loss of optimum market time, value and conditions; the uncertainty, delay, expense and inconvenience of finding a substitute buyer; additional commissions, fees, taxes and borrowing expenses to meet obligations entered into in anticipation of performance. In such event and upon SELLER's written notice of termination, the Premises shall be free of any claims or more interest of the BUYER therein by virtue of this Agreement; provided neither party objects to same within five (5) business days of receipt of notice of termination. In no event shall the closing take place later than the date of closing set forth in Paragraph 4 hereof, subject to the provisions of Paragraphs 6 and 11. In the event the closing has not taken place by the end of said period, through no fault of the non-defaulting Underwriters delaying party, the delaying party shall be deemed in default. If SELLER defaults hereunder, BUYER shall have such remedies as BUYER shall be entitled to at law or any other underwriters to purchase allin equity, including, but not less than alllimited to, specific performance. The foregoing notwithstanding, a delay in the closing through no fault of the Defaulted Securities BUYER which results in such amounts as may be agreed upon and upon either the loss of the BUYER’S mortgage commitment or an adverse change in the terms herein set forth; provided, however, that if of such arrangements commitment shall not have been completed within such 24-hour period, then: (i) if entitle BUYER to rescind this Agreement and the number of Defaulted Securities does not exceed 10% SELLER shall forthwith refund all sums heretofore paid by the BUYER on account of the number of Securities to be so purchased by purchase price, whereupon all rights and liabilities of the Underwriters on such date, the non-defaulting Underwriters shall be obligated, severally and not jointly, to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears to the purchase obligations parties hereto by reason of all non-defaulting Underwriters; or (ii) if the number of Defaulted Securities exceeds 10% of the number of Securities to be so purchased by all of the Underwriters on such date, this Agreement or, with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, and the Company to sell, the Option Securities to be purchased and sold on such Option Securities Settlement Date shall terminate without liability on the part of any non-defaulting Underwriter. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter from liability in respect of its default. In the event of any such default which does not result in a termination of this Agreement, or, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may be, either the Representative or the Company shall have the right to postpone the Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period not exceeding seven (7) days in order to effect any required changes in the Registration Statement, the Disclosure Package or the Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7terminate.

Default. (a) If one or more Underwriters any Underwriter shall fail at the Time of Purchase or an Option Securities Settlement Date default in its obligation to purchase the Designated Securities which it or they are obligated has agreed to purchase under this the Pricing Agreement (relating to such Designated Securities, Representatives may in their discretion arrange for themselves or another party or other parties to purchase such Designated Securities on the “Defaulted terms contained herein. If within thirty-six hours after such default by any Underwriter the Representatives do not arrange for the purchase of such Designated Securities”), then the Representative Company and the Guarantor shall have be entitled to a further period of thirty-six hours within which to procure another party or other parties satisfactory to the right, within 24 hours thereafter, to make arrangements for one of or more of the non-defaulting Underwriters or any other underwriters Representatives to purchase all, but not less than all, of the Defaulted such Designated Securities in such amounts as may be agreed upon and upon the terms herein set forth; provided, however, that if such arrangements shall not have been completed within such 24-hour period, then: (i) if the number of Defaulted Securities does not exceed 10% of the number of Securities to be so purchased by all of the Underwriters on such date, the non-defaulting Underwriters shall be obligated, severally and not jointly, to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears to the purchase obligations of all non-defaulting Underwriters; or (ii) if the number of Defaulted Securities exceeds 10% of the number of Securities to be so purchased by all of the Underwriters on such date, this Agreement or, with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, and the Company to sell, the Option Securities to be purchased and sold on such Option Securities Settlement Date shall terminate without liability on the part of any non-defaulting Underwriter. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter from liability in respect of its defaultterms. In the event of any such default which does not result in a termination of this Agreementthat, orwithin the respective prescribed period, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase and Representatives notify the Company to sell that they have so arranged for the relevant Option purchase of such Designated Securities, as or the case may beCompany notifies the Representatives that it has so arranged for the purchase of such Designated Securities, either the Representative Representatives or the Company shall have the right to postpone the Time of Purchase or the relevant Option Delivery for such Designated Securities Settlement Date, as the case may be, for a period not exceeding seven (7) days of up to five full business days, in order to effect any required changes that in the opinion of counsel for the Company and the Guarantor or counsel of the Underwriters may be necessary in the Registration Statement, the Disclosure Package Statement or the Prospectus as amended or supplemented, or in any other documents or arrangements, and the Company and the Guarantor agree to file promptly any amendments or supplements to the Registration Statement or the Prospectus that effects any such changes. As used herein, the The term “Underwriter” includes as used in this Agreement shall include any person substituted for an Underwriter under this Section 7with like effect as if such person had originally been a party to the Pricing Agreement with respect to such Designated Securities; (b) If, after giving effect to any arrangements for the purchase of the Designated Securities of a defaulting Underwriter or Underwriters by the Representatives and the Company, as provided in subsection (a) above, the aggregate principal amount of such Designated Securities which remains unpurchased does not exceed one-eleventh of the aggregate principal amount of the Designated Securities, then the Company and the Guarantor shall have the right to require each non-defaulting Underwriter to purchase the principal amount of Designated Securities which such Underwriter agreed to purchase under the Pricing Agreement relating to such Designated Securities and, in addition, to require each non-defaulting Underwriter to purchase its pro rata share (based on the principal amount of Designated Securities which such Underwriter agreed to purchase under such Pricing Agreement) of the Designated Securities of such defaulting Underwriter or Underwriters for which such arrangements have not been made; but nothing herein shall relieve a defaulting Underwriter from liability for its default; and (c) If, after giving effect to any arrangements for the purchase of the Designated Securities of a defaulting Underwriter or Underwriters by the Representatives and the Company and the Guarantor as provided in subsection (a) above, the aggregate principal amount of Designated Securities which remains unpurchased exceeds one-eleventh of the aggregate principal amount of the Designated Securities, as referred to in subsection (b) above, or if the Company shall not exercise the right described in subsection (b) above to require non-defaulting Underwriters to purchase Designated Securities of a defaulting Underwriter or Underwriters, then the Pricing Agreement relating to such Designated Securities shall thereupon terminate, without liability on the part of any non-defaulting Underwriter, the Company or the Guarantor, except that the Company, the Guarantor and the Underwriters will continue to be liable for the payment of expenses as provided in Section 7 hereof and the indemnity and contribution agreements in Section 9 hereof; but nothing herein shall relieve a defaulting Underwriter from liability for its default.

Default. If one or more Underwriters shall fail at the Time of Purchase or an Option Securities Settlement Date to purchase Pledgor defaults in the Securities which it or they are obligated to purchase under this Agreement (the “Defaulted Securities”), then the Representative shall have the right, within 24 hours thereafter, to make arrangements for one of or more payment of the non-defaulting Underwriters principal or interest under the Note as it becomes due (whether upon demand, acceleration or otherwise) or any other underwriters event of default under the Note occurs and has not been remedied within the 10 day period provided in Section 3(a)(i) of the Note (including the bankruptcy or insolvency of the Pledgor) (each such occurrence shall be deemed a "Default"), the Company may exercise any and all of the rights, powers and remedies of an owner of the Pledged Securities (including the right to purchase allvote the shares and receive dividends and distributions with respect to such shares) and shall have and may exercise without demand any and all the rights and remedies granted to a secured party upon default under the Uniform Commercial Code of the State of New York or otherwise available to the Company under applicable law. Without limiting the foregoing, but if the Pledgor Defaults, the Company is authorized to sell, assign and deliver at its discretion, from time to time, all or any part of the Pledged Securities at any private sale or public auction, on not less than allten days written notice to the Pledgor, at such price or prices and upon such terms as the Company may deem advisable. The Pledgor shall have no right to redeem the Pledged Securities after any such sale or assignment. At any such sale or auction, the Company or any other holder of shares of the Defaulted Company may bid for, and become the purchaser of, the whole or any part of the Pledged Securities in offered for sale. In case of any such amounts as may sale, after deducting the costs, attorneys' fees and other expenses of sale and delivery, the remaining proceeds of such sale shall be agreed upon applied to the principal of and upon accrued interest on the terms herein set forthNote; provided, however, that if such arrangements shall not have been completed within such 24-hour period, then: (i) if the number of Defaulted Securities does not exceed 10% after payment in full of the number of Securities to be so purchased indebtedness evidenced by all the Note, the balance of the Underwriters on such date, the non-defaulting Underwriters proceeds of sale then remaining shall be obligated, severally paid to the Pledgor and not jointly, the Pledgor shall be entitled to purchase the full amount thereof return of any of the Pledged Securities remaining in the proportions that their respective initial purchase obligation bears to the purchase obligations of all non-defaulting Underwriters; or (ii) if the number of Defaulted Securities exceeds 10% hands of the number of Securities to be so purchased by all of the Underwriters on such date, this Agreement or, with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, and the Company to sell, the Option Securities to be purchased and sold on such Option Securities Settlement Date shall terminate without liability on the part of any non-defaulting Underwriter. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter from liability in respect of its default. In the event of any such default which does not result in a termination of this Agreement, or, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may be, either the Representative or the Company shall have the right to postpone the Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period not exceeding seven (7) days in order to effect any required changes in the Registration Statement, the Disclosure Package or the Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7Company.

Default. If one or more Underwriters shall fail at the Time of Purchase or an Option Securities Settlement Date to purchase the Securities which it or they are obligated to purchase under this Agreement (the “Defaulted Securities”), then the Representative shall have the right, within 24 hours thereafter, 11.1 Failure to make arrangements for payment of any amount payable by the Purchaser/s herein under these presents being the agreed consideration and/or the additional payments and/or deposits or otherwise within the specified time, or within 7 (seven) days of demand if no time is specified, shall amount to a default entitling the Owners-Vendors and the Developer herein to exercise all or any of the Rights on the Purchaser’s/s’ default. 11.2 In non-compliance of any of the terms, conditions, covenants, undertakings, stipulations restrictions, prohibitions and obligations of the Purchaser/s herein including the obligations to make payment and deposit all the amounts under these presents by the Purchaser/s within the time stipulated hereto, the Owners-Vendors and Developer herein shall be entitled to exercise all or any of the Rights on the Purchaser’s/s’ default. 11.3 The Rights of the Owners/Vendors and or the Developer to take steps on the Purchaser’s/s’ default are independent to each other and not alternative to each other and more than one of or more of the non-defaulting Underwriters or any other underwriters to purchase all, but not less than all, of the Defaulted Securities in such amounts as said rights may be agreed upon and upon simultaneously exercised and/or enforced by the terms herein set forth; provided, however, that if such arrangements shall not have been completed within such 24Owners-hour period, then: (i) if the number of Defaulted Securities does not exceed 10% of the number of Securities to be so purchased by all of the Underwriters on such date, the non-defaulting Underwriters shall be obligated, severally and not jointly, to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears to the purchase obligations of all non-defaulting Underwriters; or (ii) if the number of Defaulted Securities exceeds 10% of the number of Securities to be so purchased by all of the Underwriters on such date, this Agreement or, with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, Vendors and the Company to sell, the Option Securities to be purchased and sold on such Option Securities Settlement Date shall terminate without liability Developer herein regarding any default on the part of the Purchaser/s herein. 11.4 If the Purchaser/s fails to fulfill his/her/their obligations under this agreement, the Owners-Vendors and the Developer herein shall have exclusive liberty to cancel this Agreement upon a prior 7 (seven) days notice to the Purchaser/s and shall be entitled to forfeit 3% of the total agreed consideration of the subject Flat with said Car Parking Space and refund the balance without paying any noninterest to the purchaser/s within 3 (three) months from the date of such cancellation and the Owners-defaulting Underwriter. No action taken pursuant Vendors and the Developer in that event immediate after such cancellation shall have full liberty to this Section 7 shall relieve any defaulting Underwriter from liability enter into a fresh booking and or agreement in respect of the subject unit with any intending purchaser or purchasers at its defaultown choice and discretion after intimating to the Purchaser/s of such matter of cancellation and the Purchaser/s herein hereby agreed with and consent to the same. The Notice served by the Owners-Vendors or the Developer to the Purchaser/s either by hand delivery or by Speed Post in this respect shall be treated as the Owners-Vendors’ as well the Developer’s obligation in this regard is fulfilled. 11.5 In the event of any such default which does not result in a termination of this Agreement, or, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase default by Owners-Vendors and the Company to sell the relevant Option Securities, as the case may be, either the Representative or the Company shall have the right to postpone the Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period not exceeding seven (7) days in order to effect any required changes in the Registration Statement, the Disclosure Package or the Prospectus or in any other documents or arrangements. As used Developer herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7Purchaser/s herein shall be entitled to claim specific performance.

Default. If one or more Underwriters shall fail at the Time of Purchase or an Option Securities Settlement Date to purchase the Securities which it or they are obligated to purchase under this Agreement (the “Defaulted Securities”), then the Representative shall have the right, within 24 hours thereafter, to make arrangements for one of or more of the non-defaulting Underwriters or any other underwriters to purchase all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; provided, however, that if such arrangements shall not have been completed within such 24-hour period, then: (i) if the number of Defaulted Securities does not exceed 10% of the number of Securities to be so purchased by all of the Underwriters on such date, the non-defaulting Underwriters shall be obligated, severally and not jointly, to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears to the purchase obligations of all non-defaulting Underwriters; or or (ii) if the number of Defaulted Securities exceeds 10% of the number of Securities to be so purchased by all of the Underwriters on such date, this Agreement or, with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, and the Company to sell, the Option Securities to be purchased and sold on such Option Securities Settlement Date shall terminate without liability on the part of any non-defaulting Underwriter. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter from liability in respect of its default. In the event of any such default which does not result in a termination of this Agreement, or, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may be, either the Representative or the Company shall have the right to postpone the Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period not exceeding seven (7) days in order to effect any required changes in the Registration Statement, the Disclosure Package or the Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7.

Default. If one or more Underwriters shall fail at the Time of Purchase or an Option Securities Settlement Date to purchase the Securities which it or they are obligated to purchase under this Agreement (the “Defaulted Securities”), then the Representative shall have the right, within 24 hours thereafter, to make arrangements for one of or more of the non-defaulting Underwriters or any other underwriters to purchase all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; provided, however, that if such arrangements shall not have been completed within such 24-hour period, then: (i) if the number of Defaulted Securities does not exceed 10% of the number of Securities to be so purchased by all of the Underwriters on such date, the non-defaulting Underwriters shall be obligated, severally and not jointly, to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears to the purchase obligations of all non-defaulting Underwriters; or (ii) if the number of Defaulted Securities exceeds 10% of the number of Securities to be so purchased by all of the Underwriters on such date, this Agreement or, with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, and the Company to sell, the Option Securities to be purchased and sold on such Option Securities Settlement Date shall terminate without liability on the part of any non-defaulting Underwriter. No action taken pursuant to this Section ‎Section 7 shall relieve any defaulting Underwriter from liability in respect of its default. In the event of any such default which does not result in a termination of this Agreement, or, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase purchase, and the Company to sell sell, the relevant Option Securities, as the case may be, either the Representative or the Company shall have the right to postpone the Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period not exceeding seven (7) days in order to effect any required changes in the Registration Statement, the Disclosure Package or the Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section ‎Section 7.

Default. If one or more of the Underwriters shall fail at the Closing Time of Purchase or an Option Securities Settlement Date to purchase the Securities which it or they are obligated to purchase hereunder and under this the Terms Agreement (the “Defaulted Securities”), then the Representative you shall have the right, within 24 36 hours thereafter, to make arrangements for one of or more of the non-defaulting Underwriters Underwriters, or any other underwriters underwriters, to purchase all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; provided. If, however, that if during such arrangements 36 hours you shall not have been completed within such 24-hour period, arrangements for the purchase of all the Defaulted Securities then: (ia) if the number aggregate amount of Defaulted Securities does not exceed 10% of the number aggregate amount of the Securities to be so purchased by all of pursuant to the Underwriters on such dateTerms Agreement, the non-defaulting Underwriters shall be obligated, severally and not jointly, obligated to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears underwriting obligations hereunder bear to the purchase underwriting obligations of all such non-defaulting Underwriters; , or (iib) if the number aggregate amount of Defaulted Securities exceeds 10% of the number of Securities to be so purchased by all aggregate amount of the Underwriters on such date, this Agreement or, with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, and the Company to sell, the Option Securities to be purchased and sold on such Option Securities Settlement Date pursuant to the Terms Agreement, this Agreement shall terminate terminate, without any liability on the part of any non-defaulting UnderwriterUnderwriter or the Company. As used in this Section only, the “aggregate amount” of Securities shall mean the aggregate principal amount of any Securities. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter from liability in respect of its defaultany default of such Underwriter under this Agreement. In the event of a default by any such default which does not result Underwriter or Underwriters as set forth in a termination of this Agreement, or, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may beSection, either the Representative you or the Company shall have the right to postpone the Closing Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period not exceeding seven (7) days in order to effect that any required changes in the Registration Statement, Statement and the Disclosure Package or the Final Prospectus Supplement or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7arrangements may be effected.

Default. If one or more Underwriters shall fail at Pledgor (a) defaults in the Time of Purchase or an Option Securities Settlement Date to purchase the Securities which it or they are obligated to purchase under this Agreement (the “Defaulted Securities”), then the Representative shall have the right, within 24 hours thereafter, to make arrangements for one of or more payment of the non-defaulting Underwriters principal under the Note when it becomes due (whether upon demand, acceleration or otherwise) or any other underwriters event of default under the Note or this Agreement occurs (including, without limitation, the bankruptcy or insolvency of Pledgor) or (b) defaults in the payment of interest or any other amount related to purchase allthe Note, but the Company may (following five (5) days' notice to Executive, during which the default is not cured) exercise any and all the rights, powers and remedies of any owner of the Pledged Interests (including the right to vote the Pledged Interests and receive any distributions with respect to such Pledged Interests) and shall have and may exercise without demand any and all the rights and remedies granted to a secured party upon default under the Uniform Commercial Code of Delaware or otherwise available to the Company under applicable law. Without limiting the foregoing, after the occurrence of and during the continuance of a default, the Company is authorized to sell, assign and deliver at its discretion, from time to time, all or any part of the Collateral at any private sale or public auction, on not less than allten (10) days' written notice to Pledgor, at such price or prices and upon such terms as the Company may deem advisable. Pledgor shall have no right to redeem the Collateral after any such sale or assignment. At any such sale or auction, the Company may bid for, and become the purchaser of, the whole or any part of the Defaulted Securities Pledged Interests offered for sale. In case of any such sale, after deducting the costs, attorneys' fees and other expenses of sale and delivery, the remaining proceeds of such sale shall be applied to the principal of and accrued interest on the Note and other amounts related thereto (including costs, attorneys' fees associated with enforcement hereof); provided that after payment in such amounts as may full of the indebtedness evidenced by the Note, the balance of the proceeds of sale then remaining shall be agreed upon paid to Pledgor and upon Pledgor shall be entitled to the terms herein set forth; provided, however, that if such arrangements return of any of the Pledged Interests remaining in the hands of the Company. Pledgor shall not have been completed within such 24-hour period, then: be liable for any deficiency (ibut only to the extent liable therefor under the Note) if the number remaining proceeds are insufficient to pay the indebtedness under the Note in full, including the fees of Defaulted Securities does not exceed 10% of the number of Securities to be so purchased any attorneys employed by all of the Underwriters on such date, the non-defaulting Underwriters shall be obligated, severally and not jointly, to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears to the purchase obligations of all non-defaulting Underwriters; or (ii) if the number of Defaulted Securities exceeds 10% of the number of Securities to be so purchased by all of the Underwriters on such date, this Agreement or, with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, and the Company to sell, the Option Securities to be purchased and sold on collect such Option Securities Settlement Date shall terminate without liability on the part of any non-defaulting Underwriter. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter from liability in respect of its default. In the event of any such default which does not result in a termination of this Agreement, or, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may be, either the Representative or the Company shall have the right to postpone the Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period not exceeding seven (7) days in order to effect any required changes in the Registration Statement, the Disclosure Package or the Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7deficiency.

Default. If one or more Underwriters shall fail at Pledgor defaults in the Time of Purchase or an Option Securities Settlement Date to purchase the Securities which it or they are obligated to purchase under this Agreement (the “Defaulted Securities”), then the Representative shall have the right, within 24 hours thereafter, to make arrangements for one of or more payment of the non-defaulting Underwriters principal or ------- interest under the Note when it becomes due (whether upon demand, acceleration or otherwise) or any other underwriters event of default under the Note or this Pledge Agreement occurs (including the bankruptcy or insolvency of Pledgor), the Company may exercise any and all the rights, powers and remedies of any owner of the Pledged Shares (including the right to purchase allvote the shares and receive dividends and distributions with respect to such shares) and shall have and may exercise without demand any and all the rights and remedies granted to a secured party upon default under the Uniform Commercial Code of the State of Delaware or otherwise available to the Company under applicable law. Without limiting the foregoing, but the Company is authorized to sell, assign and deliver at its discretion, from time to time, all or any part of the Pledged Shares at any private sale or public auction, on not less than allten days written notice to Pledgor, at such price or prices and upon such terms as the Company may deem advisable. Pledgor shall have no right to redeem the Pledged Shares after any such sale or assignment. At any such sale or auction, the Company may bid for, and become the purchaser of, the whole or any part of the Defaulted Securities Pledged Shares offered for sale. In case of any such sale, after deducting the costs, attorneys' fees and other expenses of sale and delivery, the remaining proceeds of such sale shall be applied to the principal of and accrued interest on the Note; provided that after payment in such amounts as may full of the indebtedness evidenced by the Note, the balance of the proceeds of sale then remaining shall be agreed upon paid to Pledgor and upon Pledgor shall be entitled to the terms herein set forth; provided, however, that if such arrangements return of any of the Pledged Shares remaining in the hands of the Company. Pledgor shall be liable for an amount not have been completed within such 24-hour period, then: (i) if the number of Defaulted Securities does not to exceed 1025% of the number of Securities to be so purchased by all of the Underwriters on such date, the non-defaulting Underwriters shall be obligated, severally outstanding principal and not jointly, to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears to the purchase obligations of all non-defaulting Underwriters; or (ii) if the number of Defaulted Securities exceeds 10100% of the number accrued interest on the Note for any deficiency if the remaining proceeds are insufficient to pay the indebtedness under the Note in full, including the fees of Securities to be so purchased any attorneys employed by all of the Underwriters on such date, this Agreement or, with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, and the Company to sell, the Option Securities to be purchased and sold on collect such Option Securities Settlement Date shall terminate without liability on the part of any non-defaulting Underwriter. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter from liability in respect of its default. In the event of any such default which does not result in a termination of this Agreement, or, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may be, either the Representative or the Company shall have the right to postpone the Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period not exceeding seven (7) days in order to effect any required changes in the Registration Statement, the Disclosure Package or the Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7deficiency.

Default. (a) If one or more Underwriters any Underwriter shall fail at the Time of Purchase or an Option Securities Settlement Date default in its obligation to purchase the Securities Certificates which it or they are obligated has agreed to purchase under this Agreement (hereunder, you may in your discretion arrange for you or another party or other parties to purchase such Certificates on the “Defaulted Securities”)terms contained herein. If within thirty-six hours after such default by any Underwriter you do not arrange for the purchase of such Certificates, then the Representative Company shall be entitled to a further period of thirty-six hours within which to procure another party or other parties satisfactory to you to purchase such Certificates on such terms. In the event that, within the respective prescribed periods, you notify the Company that you have so arranged for the purchase of such Certificates, or the Company notifies you that it has so arranged for the purchase of such Certificates, you or the Company shall have the rightright to postpone the Closing Date for a period of not more than five business days, within 24 hours thereafterin order to effect whatever changes may thereby be made necessary in the Prospectus, or in any other documents or arrangements, and the Company agrees to prepare promptly any amendments to the Prospectus which in your reasonable opinion may thereby be made necessary. The term “Underwriter” as used in this Agreement shall include any person substituted under this Section with like effect as if such person had originally been a party to this Agreement with respect to such Certificates. (b) If, after giving effect to any arrangements for the purchase of the Certificates of a defaulting Underwriter or Underwriters by you and the Company as provided in subsection (a) above, the aggregate principal amount of Certificates which remains unpurchased does not exceed one-eleventh of the aggregate principal amount of all the Certificates, then the Company shall have the right to require each non-defaulting Underwriter to purchase the principal amount of Certificates which such Underwriter agreed to purchase hereunder and, in addition, to make require each non-defaulting Underwriter to purchase its pro rata share (based on the principal amount of Certificates which such Underwriter agreed to purchase hereunder) of the Certificates of such defaulting Underwriter or Underwriters for which such arrangements have not been made; but nothing herein shall relieve a defaulting Underwriter from liability for its default. (c) If, after giving effect to any arrangements for one of or more the purchase of the Certificates of a defaulting Underwriter or Underwriters by you and the Company as provided in subsection (a) above, the aggregate principal amount of Certificates which remains unpurchased exceeds one–eleventh of the aggregate principal amount of all the Certificates, or if the Company shall not exercise the right described in subsection (b) above to require non-defaulting Underwriters or any other underwriters to purchase allCertificates of a defaulting Underwriter or Underwriters, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; provided, however, that if such arrangements shall not have been completed within such 24-hour period, then: (i) if the number of Defaulted Securities does not exceed 10% of the number of Securities to be so purchased by all of the Underwriters on such date, the non-defaulting Underwriters shall be obligated, severally and not jointly, to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears to the purchase obligations of all non-defaulting Underwriters; or (ii) if the number of Defaulted Securities exceeds 10% of the number of Securities to be so purchased by all of the Underwriters on such date, then this Agreement orshall thereupon terminate, with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, and the Company to sell, the Option Securities to be purchased and sold on such Option Securities Settlement Date shall terminate without liability on the part of any non-defaulting Underwriter. No action taken pursuant Underwriter or the Company, except for the expenses to this be borne by the Company and the Underwriters as provided in Section 5 hereof and the indemnity and contribution agreements in Section 7 hereof; but nothing herein shall relieve any a defaulting Underwriter from liability in respect of for its default. In the event of any such default which does not result in a termination of this Agreement, or, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may be, either the Representative or the Company shall have the right to postpone the Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period not exceeding seven (7) days in order to effect any required changes in the Registration Statement, the Disclosure Package or the Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7.

Default. If one or more of the Underwriters participating in an offering of Securities shall fail at the applicable Closing Time of Purchase or an Option Securities Settlement Date to purchase the Securities which it or they are obligated to purchase hereunder and under this the applicable Terms Agreement (the “"Defaulted Securities”"), then the Representative you shall have the right, within 24 hours thereafter, to make arrangements for one of or more of the non-defaulting Underwriters nondefaulting Underwriters, or any other underwriters underwriters, to purchase all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; provided. If, however, that if during such arrangements 24 hours you shall not have been completed within such 24-hour periodarrangements for the purchase of all of the Defaulted Securities, then: : (ia) if the number aggregate principal amount of Defaulted Securities does not exceed 10% of the number aggregate principal amount of the Securities to be so purchased by all of the Underwriters on pursuant to such dateTerms Agreement, the non-defaulting Underwriters named in such Terms Agreement shall be obligated, severally and not jointly, obligated to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears underwriting obligations hereunder bear to the purchase underwriting obligations of all such non-defaulting Underwriters; or , or (iib) if the number aggregate principal amount of Defaulted Securities exceeds 10% of the number of Securities to be so purchased by all aggregate principal amount of the Underwriters on such date, this Agreement or, with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, and the Company to sell, the Option Securities to be purchased and sold on pursuant to such Option Securities Settlement Date Terms Agreement, the applicable Terms Agreement shall terminate terminate, without any liability on the part of any non-non- defaulting UnderwriterUnderwriter or the Company. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter from liability in respect of its defaultany default of such Underwriter under this Agreement and the applicable Terms Agreement. In the event of a default by any such default which does not result Underwriter or Underwriters as set forth in a termination of this Agreement, or, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may beSection, either the Representative you or the Company shall have the right to postpone the applicable Closing Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period not exceeding seven (7) days in order to effect that any required changes in the Registration Statement, the Disclosure Package Statement or the Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7arrangements may be effected.

Default. If one or more of the Underwriters participating in an offering of Securities shall fail at the applicable Closing Time of Purchase or an Option Securities Settlement Date to purchase the Securities which it or they are obligated to purchase hereunder and under this the applicable Terms Agreement (the “"Defaulted Securities”"), then the Representative such of you as are named therein shall have the right, within 24 hours thereafter, to make arrangements for one of or more of the non-non defaulting Underwriters Underwriters, or any other underwriters underwriters, to purchase all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; provided. If, however, that if during such arrangements 24 hours you shall not have been completed within such 24-hour periodarrangements for the purchase of all of the Defaulted Securities, then: (ia) if the number aggregate principal amount of Defaulted Securities does not exceed 10% of the number aggregate principal amount of the Securities to be so purchased by all of the Underwriters on pursuant to such dateTerms Agreement, the non-defaulting Underwriters named in such Terms Agreement shall be obligated, severally and not jointly, obligated to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears underwriting obligations hereunder bear to the purchase underwriting obligations of all such non-defaulting Underwriters; , or (iib) if the number aggregate principal amount of Defaulted Securities exceeds 10% of the number of Securities to be so purchased by all aggregate principal amount of the Underwriters on such date, this Agreement or, with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, and the Company to sell, the Option Securities to be purchased and sold on pursuant to such Option Securities Settlement Date Terms Agreement, the applicable Terms Agreement shall terminate terminate, without any liability on the part of any non-defaulting UnderwriterUnderwriter or the Company. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter from liability in respect of its defaultany default of such Underwriter under this Agreement and the applicable Terms Agreement. In the event of a default by any such default Underwriter or Underwriters as set forth in this Section which does not result in a termination of this Agreement, or, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may be, either the Representative you or the Company shall have the right to postpone the applicable Closing Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period not exceeding seven (7) days in order to effect that any required changes in the Registration Statement, the Disclosure Package Statement or the Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7arrangements may be effected.

Default. (a) If one or more Underwriters shall fail at the Time Issuer fails to make a payment of Purchase or an Option Securities Settlement Date interest on any Note when due and payable for reasons other than pursuant to purchase the Securities which it or they are obligated to purchase under this Agreement subordination provisions of the Notes (the “Defaulted SecuritiesInterest”), then it shall pay such Defaulted Interest plus (to the Representative shall have extent lawful) any interest payable on the rightDefaulted Interest, within 24 hours thereafterin any lawful manner. The Issuer may elect to pay any Defaulted Interest, plus any such interest payable on it, to make arrangements for one the Persons who are Holders of or more such Notes on which the interest is due on a subsequent Special Record Date. The Issuer shall notify the Trustee in writing of the non-defaulting Underwriters amount of Defaulted Interest proposed to be paid on each such Note. The Issuer shall fix any such Special Record Date and payment date for such payment. At least 15 days before any such Special Record Date, the Issuer shall mail to Holders affected thereby a notice that states the Special Record Date, the Interest Payment Date and amount of such interest to be paid. (b) If the Issuer fails to make payments of principal of, interest on, or any other underwriters to purchase all, but not less than all, of amounts owing under the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; provided, however, that if such arrangements shall not have been completed within such 24-hour period, then: Notes (i) if pursuant to the number of Defaulted Securities does not exceed 10% subordination provisions of the number of Securities to be so purchased by all of the Underwriters on such date, the non-defaulting Underwriters shall be obligated, severally and not jointly, to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears to the purchase obligations of all non-defaulting Underwriters; or Notes or (ii) if the number of Defaulted Securities exceeds 10% of the number of Securities due to be so purchased by all of the Underwriters on such date, this Agreement or, with respect to any Option Securities Settlement Datea Regulatory Bail-in, the obligation of the Underwriters to purchaseIssuer will not be in default, and the Company Trustee and the holders of the Notes shall not be permitted to sellaccelerate the maturity of the Notes. Moreover, the Option Securities to be purchased and sold on such Option Securities Settlement Date shall terminate without liability on the part of any non-defaulting Underwriter. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter from liability in respect of its default. In the event of any such default which does not result in a termination of this AgreementRegulatory Bail-in, or, in the case of an Option Securities Settlement Date, which does not result in a termination holders of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case Notes may be, either the Representative or the Company shall have permanently lose the right to postpone receive such payments. If the Time Issuer fails to make payments of Purchase principal of, interest on, or other amounts owing under the relevant Option Securities Settlement Date, as Notes when due for reasons other than (i) pursuant to the case may be, for subordination provisions of the Notes or (ii) due to a period not exceeding seven (7) days in order to effect any required changes in the Registration StatementRegulatory Bail-in, the Disclosure Package or Issuer will be in default on its obligations under the Prospectus or Subordinated Indenture. Nevertheless, neither the Trustee nor the holders of the Notes may accelerate the maturity of the Notes in any other documents or arrangementssuch case. As used hereinFurthermore, if the Issuer becomes subject to German insolvency proceedings, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7Trustee and Holders of the Notes will have no right to file a claim against the Issuer unless the competent insolvency court allows the filing of subordinated claims.

Default. If any one or more Underwriters shall fail at the Time of Purchase or an Option Securities Settlement Date to purchase and pay for any of the Securities agreed to be purchased by such Underwriter or Underwriters pursuant to this Agreement and such failure to purchase shall constitute a default in the performance of its or their obligations under this Agreement, the remaining Underwriters shall be obligated severally to take up and pay for (in the respective proportions which the aggregate principal amount of Securities specified to be purchased by them in Schedule A bears to the aggregate principal amount of Securities to be purchased by all the remaining Underwriters) the Securities which it the defaulting Underwriter or they are obligated Underwriters agreed but failed to purchase; provided, however, that in the event that the aggregate principal amount of Securities that the defaulting Underwriter or Underwriters agreed but failed to purchase under shall exceed 10% of the aggregate principal amount of Securities to be purchased pursuant to this Agreement (Agreement, the “Defaulted Securities”), then the Representative remaining Underwriters shall have the right, but not the obligation, within 24 hours thereafter, to make arrangements for one of or more of the non-defaulting Underwriters or any other underwriters to purchase all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon Securities, and upon the terms herein set forth; provided, however, that if such nondefaulting Underwriters do not complete such arrangements shall not have been completed within such 24-24 hour period, then: (i) if the number of Defaulted Securities does not exceed 10% of the number of Securities to be so purchased by all of the Underwriters on such date, the non-defaulting Underwriters shall be obligated, severally and not jointly, to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears to the purchase obligations of all non-defaulting Underwriters; or (ii) if the number of Defaulted Securities exceeds 10% of the number of Securities to be so purchased by all of the Underwriters on such date, then this Agreement or, with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, and the Company to sell, the Option Securities to be purchased and sold on such Option Securities Settlement Date shall will terminate without liability on to any nondefaulting Underwriters or the part of any non-defaulting Underwriter. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter from liability in respect of its defaultCompany. In the event of any such termination, the provisions of Sections 4, 6 and 7 shall remain in effect. In the event of a default which by any Underwriter as set forth in this Section 10 that does not result in a termination of this Agreement, orthe Closing Time and any Date of Delivery, in the case of an Option Securities Settlement Dateas applicable, which does shall be postponed for such period, not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securitiesexceeding seven days, as the case may be, either the Representative nondefaulting Underwriters or the Company shall have the right to postpone the Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period not exceeding seven (7) days determine in order to effect any that the required changes in the Registration Statement, the General Disclosure Package or and the Final Prospectus or in any other documents or arrangementsarrangements may be effected. As used hereinNothing contained in this Agreement shall relieve any defaulting Underwriter of its liability, if any, to the term “Underwriter” includes Company and to any person substituted nondefaulting Underwriters for an Underwriter under this Section 7damages occasioned by its default hereunder.

Default. If any one or more Underwriters shall fail at the Closing Time of Purchase or an Option Securities Settlement Date to purchase and pay for any of the Securities which it Class A Certificates agreed to be purchased by such Underwriter or they are obligated Underwriters pursuant to this Agreement and such failure to purchase shall constitute a default in the performance of its or their obligations under this Agreement Agreement, the remaining Underwriters shall be obligated severally to take up and pay for (in the “Defaulted Securities”)respective proportions which the aggregate face amount of Class A Certificates specified to be purchased by each of them in Schedule I hereto bears to the aggregate face amount of Class A Certificates to be purchased by all the remaining Underwriters) the Class A Certificates which the defaulting Underwriter or Underwriters agreed but failed to purchase; provided, then however, that in the Representative event that the aggregate face amount of Class A Certificates that the defaulting Underwriter or Underwriters agreed but failed to purchase shall exceed 10% of the aggregate face amount of Class A Certificates to be purchased pursuant to this Agreement, the remaining Underwriters shall have the right, but not the obligation within 24 hours thereafter, to make arrangements for one of or more of the non-defaulting Underwriters or any other underwriters to purchase all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon Class A Certificates, and upon the terms herein set forth; provided, however, that if such nondefaulting Underwriters do not complete such arrangements shall not have been completed within such 24-24 hour period, then: (i) if the number of Defaulted Securities does not exceed 10% of the number of Securities to be so purchased by all of the Underwriters on such date, the non-defaulting Underwriters shall be obligated, severally and not jointly, to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears to the purchase obligations of all non-defaulting Underwriters; or (ii) if the number of Defaulted Securities exceeds 10% of the number of Securities to be so purchased by all of the Underwriters on such date, then this Agreement or, with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, and the Company to sell, the Option Securities to be purchased and sold on such Option Securities Settlement Date shall will terminate without liability on to any nondefaulting Underwriters or the part of any non-defaulting Underwriter. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter from liability in respect of its defaultCompany. In the event of any such termination, the provisions of Sections 5, 6 and 8 hereof shall remain in effect. In the event of a default which by any Underwriter as set forth in this Section 7 that does not result in a termination of this Agreement, orthe Closing Time shall be postponed for such period, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securitiesexceeding seven days, as the case may be, either the Representative nondefaulting Underwriters or the Company shall have the right to postpone the Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period not exceeding seven (7) days determine in order to effect any that the required changes in the Registration Statement, the General Disclosure Package or and the Final Prospectus or in any other documents or arrangementsarrangements may be effected. As used hereinNothing contained in this Agreement shall relieve any defaulting Underwriter of its liability, if any, to the term “Underwriter” includes Company and to any person substituted nondefaulting Underwriters for an Underwriter under this Section 7damages occasioned by its default hereunder.

Default. If one or more of the Underwriters participating in an offering of Securities shall fail at the applicable Closing Time of Purchase or an Option Securities Settlement Date to purchase the Underwritten Securities which it is or they are obligated to purchase under this Agreement (the “Defaulted Securities”"DEFAULTED SECURITIES"), then the Representative Representatives shall have the right, within 24 hours thereafter, to make arrangements for one of or more of the non-defaulting Underwriters Underwriters, or any other underwriters underwriters, to purchase all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; provided. If, however, that if during such arrangements 24 hours the Representatives shall not have been completed within such 24-hour periodarrangements for the purchase of all of the Defaulted Securities, then: (ia) if the number aggregate liquidation preference amount of Defaulted Securities does not exceed 10% of the number aggregate liquidation preference amount of the Underwritten Securities to be so purchased by all of the Underwriters on such datepursuant to this Agreement, the non-defaulting Underwriters named in SCHEDULE II to this Agreement shall be obligated, severally and not jointly, obligated to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears underwriting obligations thereunder bear to the purchase aggregate underwriting obligations of all such non-defaulting Underwriters; , or (iib) if the number aggregate liquidation preference amount of Defaulted Securities exceeds 10% of the number of Securities to be so purchased by all aggregate liquidation preference amount of the Underwriters on such date, this Agreement or, with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, and the Company to sell, the Option Underwritten Securities to be purchased pursuant to this Agreement and sold on arrangements satisfactory to the Representatives and the Company for the purchase of such Option Defaulted Securities Settlement Date are not made within 24 hours after such default, this Agreement shall terminate without any liability on the part of any non-defaulting UnderwriterUnderwriters or the Company. As used in this Section only, the aggregate amount or aggregate liquidation preference amount of Underwritten Securities shall mean the aggregate liquidation preference amount of any Preferred Stock. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter from liability in respect of its defaultany default of such Underwriter under this Agreement. In the event of a default by any such default which does not result Underwriter or Underwriters as set forth in a termination of this Agreement, or, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may beSection, either the Representative Representatives or the Company shall have the right to postpone the applicable Closing Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period ending as soon as practicable after the original Closing Time, but in any event not exceeding seven (7) days after the original Closing Time, in order to effect that any required changes changes, if any, in the Registration Statement, the Disclosure Package Statement or the Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7arrangements may be effected.

Default. If one or more Underwriters shall fail at the Time of Purchase or an Option Securities Settlement Date to purchase the Securities which it or they are obligated to purchase under this Agreement (the “Defaulted Securities”), then the Representative shall have the right, within 24 hours thereafter, to make arrangements for one of or more of the non-defaulting Underwriters or any other underwriters to purchase all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; provided, however, that if such arrangements shall not have been completed within such 24-hour period, then:a) If (i) Lessee shall at any time be in default in the payment of rent and/or other charges or in the observance of the performance of any of the agreements, conditions or covenants of this LEASE on LESSEE'S part to be observed and/or performed and LESSEE shall fail to remedy such default within fifteen (15) days after notice thereof from LESSOR in the event the default is as to payment of rent and/or other charges, or within thirty (30) days after notice thereof if the number default relates to matters other than the payment of Defaulted Securities does rent and/or other charges (but LESSEE shall not exceed 10% be deemed in default if it commences to remedy said defaults other than relate to payment of the number of Securities to be so purchased by all of the Underwriters on such daterent and/or other charges within said thirty (30) day period and proceeds therewith with due diligence), the non-defaulting Underwriters shall be obligated, severally and not jointly, to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears to the purchase obligations of all non-defaulting Underwriters; or (ii) if LESSEE shall make an assignment for the number benefit of Defaulted Securities exceeds 10% creditors, or (iii) a receiver of any property of LESSEE in or upon the number PREMISES be appointed in any action, suit or proceeding by or against LESSEE and not removed within forty-five (45) days after appointment, or (iv) the interest of Securities to LESSEE in the PREMISES shall be so purchased sold under execution or other legal process, or (v) LESSEE shall sublet the PREMISES or any part thereof, assign this LEASE or transfer or permit the transfer by sale, assignment, merger, consolidation, operation of law or otherwise any part or all of the Underwriters on shares of LESSEE, without LESSOR'S written consent, if such dateconsent in any such event is required as provided in Article 21 hereof, or (vi) an audit of LESSEE'S records discloses a deficiency in reported annual GROSS SALES in excess of five percent (5 %) of the annual GROSS SALES actually made by LESSEE during any LEASE YEAR. then, in any such event, LESSOR may terminate this Agreement LEASE, or, with respect without terminating this LEASE, re-enter the PREMISES by summary proceedings or otherwise and, in either event, may dispossess LESSEE at LESSEE'S expense. LESSOR shall not be deemed to any Option Securities Settlement Date, the obligation have elected to terminate this LEASE unless LESSOR gives LESSEE notice of the Underwriters such election to purchase, and the Company to sell, the Option Securities to be purchased and sold on such Option Securities Settlement Date shall terminate without liability on the part of any non-defaulting Underwriter. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter from liability in respect of its defaultterminate. In the event of such re-entry, LESSOR shall relet the PREMISES and apply the rents therefrom first to the payment of LESSOR'S expenses incurred by reason of LESSEE'S default and the expenses of reletting including reasonable attorney's fees and then to the payment of rents and other charges due from LESSEE hereunder. If the rents received do not equal the expenses and costs of reletting, LESSEE shall remain liable for any such default which does not result deficiencies. If the rents received exceed the expenses and costs of reletting, then LESSEE shall have no rights therein if LESSOR has elected to terminate this LEASE. Such deficiency, at LESSOR'S option, may be calculated and payable by LESSEE monthly. (b) In the event either party hereto incurs or pays costs, expenses and/or reasonable attorney fees in a termination of this Agreementenforcing the agreements, or, in the case of an Option Securities Settlement Date, which does not result in a termination conditions and covenants of the obligation LEASE as a result of the Underwriters other party's default in observance or performance thereof, then the defaulting party shall be required to purchase and reimburse or pay such costs, expenses and/or frees incurred or paid by the Company to sell the relevant Option Securities, as the case may be, either the Representative or the Company shall have the right to postpone the Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period not exceeding seven (7) days in order to effect any required changes in the Registration Statement, the Disclosure Package or the Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7non-defaulting party.

Default. If one or more of the Underwriters ------- participating in an offering of Shares shall fail at the Closing Time of Purchase or an Option Securities Settlement Date to purchase the Securities Shares which it or they are obligated to purchase under this Agreement hereunder (the “"Defaulted Securities”Shares"), then the Representative shall have the right, within 24 hours thereafter, to make arrangements for one of or more of the non-defaulting Underwriters Underwriters, or any other underwriters underwriters, to purchase all, but not less than all, of the Defaulted Securities Shares in such amounts as may be agreed upon and upon the terms herein set forth; provided. If, however, that if during such arrangements 24 hours the Representative shall not have been completed within such 24-hour periodarrangements for the purchase of all of the Defaulted Shares, then: (ia) if the number of Defaulted Securities Shares does not exceed 10% of the aggregate number of Securities Shares to be so purchased by all pursuant to terms of the Underwriters on such datethis Agreement, the non-defaulting Underwriters hereof shall be obligated, severally and not jointly, obligated to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears underwriting obligations thereunder bear to the purchase underwriting obligations of all such non-defaulting Underwriters; or (iib) if the number of Defaulted Securities Shares exceeds 10% of the aggregate number of Securities Shares to be so purchased by all pursuant to the terms of the Underwriters on such datethis Agreement, this Agreement or, with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, and the Company to sell, the Option Securities to be purchased and sold on such Option Securities Settlement Date shall terminate without any liability on the part of any non-defaulting UnderwriterUnderwriters or the Company. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter from liability in respect of its defaultany default of such Underwriter under this Agreement. In the event of a default by any such default which does not result Underwriter or Underwriters as set forth in a termination of this Agreement, or, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may beSection, either the Representative or the Company shall have the right to postpone the Closing Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period not exceeding seven (7) days in order to effect that any required changes in the Registration Statement, the Disclosure Package Statement or the Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7arrangements may be effected.

Default. If one or more of the Underwriters participating in an offering of Securities shall fail at the applicable Closing Time of Purchase or an Option Securities Settlement Date to purchase the Underwritten Securities which it or they are obligated to purchase under this the applicable Terms Agreement (the “Defaulted Securities”), then the Representative shall have the right, within 24 hours thereafter, to make arrangements for one of or more of the non-defaulting Underwriters Underwriters, or any other underwriters underwriters, to purchase all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; provided. If, however, that if during such arrangements 24 hours the Representative shall not have been completed within such 24-hour periodarrangements for the purchase of all of the Defaulted Securities, then: (ia) if the number aggregate principal amount of Defaulted Securities does not exceed 10% of the number aggregate principal amount of the Underwritten Securities to be so purchased by all of pursuant to the Underwriters on such dateTerms Agreement, the non-defaulting Underwriters named in such Terms Agreement shall be obligated, severally and not jointly, obligated to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears underwriting obligations thereunder bear to the purchase underwriting obligations of all such non-defaulting Underwriters; , or (iib) if the number aggregate principal amount of Defaulted Securities exceeds 10% of the number of Securities to be so purchased by all aggregate principal amount of the Underwriters on such date, this Agreement or, with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, and the Company to sell, the Option Underwritten Securities to be purchased and sold on pursuant to such Option Securities Settlement Date Terms Agreement, the Terms Agreement shall terminate without any liability on the part of any non-defaulting UnderwriterUnderwriters or the Company. As used in this Section only, the aggregate amount or aggregate principal amount of Underwritten Securities shall mean the aggregate principal amount of any Senior Securities plus the public offering price of any Debt Warrants included in the relevant Underwritten Securities. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter from liability in respect of its defaultany default of such Underwriter under this Agreement and the Terms Agreement. In the event of a default by any such default which does not result Underwriter or Underwriters as set forth in a termination of this Agreement, or, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may beSection, either the Representative or the Company shall have the right to postpone the applicable Closing Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period not exceeding seven (7) days in order to effect that any required changes in the Registration Statement, the Disclosure Package Statement or the Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7arrangements may be effected.

Default. If one or more of the Underwriters shall ------- fail at the Closing Time of Purchase or an Option Securities Settlement Date to purchase the Offered Securities which that it or they are obligated to purchase under this Agreement (the “"Defaulted Offered Securities”"), then the Representative you shall have the right, within 24 hours thereafterthere- after, to make arrangements for one of or more of the non-defaulting Underwriters Underwriters, or any other underwriters underwriters, to purchase all, but not less than all, of the Defaulted Offered Securities in such amounts as may be agreed upon and upon the terms herein set forth; providedif, however, that if you have not completed such arrangements shall not have been completed within such 24-hour period, then: (ia) if the number aggregate principal amount of Defaulted Offered Securities does not exceed 10% of the number aggregate principal amount of the Offered Securities to be so purchased by all of the Underwriters on such datepurchased, the non-non- defaulting Underwriters shall be obligated, severally and not jointly, obligated to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears underwriting obligations bear to the purchase obligations underwriting obliga- tions of all non-defaulting Underwriters; , or (iib) if the number aggregate principal amount of Defaulted Offered Securities exceeds 10% of the number aggregate principal amount of the Offered Securities to be so purchased by all of the Underwriters on such datepurchased, this Agreement or, with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, and the Company to sell, the Option Securities to be purchased and sold on such Option Securities Settlement Date shall terminate without liability on the part of any non-non- defaulting Underwriter. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter from liability in respect of its default. In the event of any such default which that does not result in a termination of this Agreement, or, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may be, either the Representative you or the Company shall have the right to postpone the Closing Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period not exceeding seven (7) days in order to effect any required changes in the Registration Statement, the Disclosure Package Statement or the Prospectus or in any other documents docu- ments or arrangements. As used herein, the term “"Underwriter” " includes any person substituted for an Underwriter under this Section 710.

Default. If one or more of the Underwriters shall fail at the Closing Time or a Date of Purchase or an Option Securities Settlement Date Delivery to purchase the Immediate Delivery Offered Securities which it or they are obligated to purchase under this Agreement (the “"Defaulted Securities”"), then the Representative Representatives shall have the right, within 24 hours thereafter, to make arrangements for one of or more of the non-defaulting Underwriters Underwriters, or any other underwriters underwriters, to purchase all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; provided. If, however, that if during such arrangements 24 hours the Representatives shall not have been completed within such 24-hour periodarrangements for the purchase of all of the Defaulted Securities, then: (ia) if the number amount of Defaulted Securities does not exceed 10% of the number amount of Immediate Delivery Offered Securities to be so purchased by all of the Underwriters on such date, each of the non-defaulting Underwriters shall be obligated, severally and not jointly, to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears underwriting obligations hereunder bear to the purchase underwriting obligations of all non-defaulting Underwriters; , or (iib) if the number amount of Defaulted Securities exceeds 10% of the number of Immediate Delivery Offered Securities to be so purchased by all of the Underwriters on such date, this Agreement or, with respect to any Option Securities Settlement DateDate of Delivery which occurs after the Closing Time, the obligation of the Underwriters to purchase, purchase and of the Company to sell, sell the Option Securities to be purchased and sold on such Option Securities Settlement Date of Delivery shall terminate without liability on the part of any non-defaulting Underwriter. No action taken pursuant to this Section 7 10 shall relieve any defaulting Underwriter from liability in respect of its default. In the event of any such default which does not result in a termination of this Agreement, or, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may be, either the Representative or the Company shall have the right to postpone the Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period not exceeding seven (7) days in order to effect any required changes in the Registration Statement, the Disclosure Package or the Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7.a

Default. If one any Member (a “Defaulting Member”) fails to pay to the Company any portion of the Defaulting Member’s Additional Capital Contributions (in the case of Class A Members only) requested under Section 9.2(a), which is not funded by a Contributing Member pursuant to 9.2(a), or more Underwriters shall fail at the Time of Purchase or an Option Securities Settlement Date to purchase the Securities which it or they are obligated to purchase make any other payment, when and as required under this Agreement (in the case of any Member, whether Class A or Class B), and any such failure continues for five days after a non-defaulting Class A Member or the Manager(s) gives notice thereof to the Defaulting Member (a “Defaulted SecuritiesDefault”), then the Representative shall have the rightthen, within 24 hours thereafter, to make arrangements for one and without limitation of or more of the non-defaulting Underwriters or any other underwriters rights or remedies afforded to purchase all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon and upon Manager(s) or the terms herein set forth; provided, however, that if such arrangements shall not have been completed within such 24-hour period, then: (i) if the number of Defaulted Securities does not exceed 10% of the number of Securities to be so purchased by all of the Underwriters on such dateCompany herein, the non-defaulting Underwriters shall be obligated, severally and not jointly, to purchase Company or the full amount thereof in the proportions that their respective initial purchase obligation bears to the purchase obligations of all non-defaulting Underwriters; or (iiManager(s) if the number of Defaulted Securities exceeds 10% of the number of Securities to be so purchased by all of the Underwriters on such date, this Agreement or, with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, and the Company to sell, the Option Securities to be purchased and sold on such Option Securities Settlement Date shall terminate without liability on the part of or any non-defaulting Underwriter. No Class A Member, may by court action taken pursuant or otherwise exercise such rights and seek such remedies as such party shall be entitled at law or in equity, including, without limitation, seeking to this Section 7 shall relieve specifically enforce the performance of the Defaulting Member’s obligations hereunder and to recover all costs, expenses (including, among others, reasonable attorneys’ fees and interest on any defaulting Underwriter unpaid amount at the composite prime interest rate publicly announced from liability in respect of its default. In the event time to time by The Wall Street Journal plus five percent (5%) per annum) and damages arising out of any such default which does not result Default. As collateral security for the prompt payment and performance in a termination full when due of this Agreementits obligations hereunder, or, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters each Member (“Pledgor”) hereby pledges and assigns (as collateral) to purchase and the Company and/or any other Class A Member (“Pledgee”), and grants to sell the relevant Option Securitiessuch Pledgee a continuing lien and security interest in, all of such Pledgee’s right, title and interest in and to such Pledgor’s entire Interest (or Economic Interest, as the case may be). Pledgor further agrees that any amount due under this Agreement may be applied to satisfy the obligations of the Pledgor hereunder. Upon the occurrence and during the continuance of any Default by such Pledgor, either the Representative or Pledgee may (i) cause the Company, and the Company shall have hereby agrees, to apply any payments due the right Pledgor from the Company to postpone the Time of Purchase satisfy Pledgor’s obligations hereunder, and (ii) exercise such other rights and remedies as are afforded by law or the relevant Option Securities Settlement Dateequity, as the case may beincluding, for a period not exceeding seven (7) days in order to effect any required changes in the Registration Statementwithout limitation, the Disclosure Package or Uniform Commercial Code of the Prospectus or State of Colorado as then in any other documents or arrangementseffect. As used herein, The Manager(s) may enforce the term “Underwriter” includes any person substituted for an Underwriter under this Section 7foregoing rights on behalf of the Company.

Default. If one or more Underwriters (a) Notwithstanding anything to the contrary contained in this Agreement, the occurrence of the following events shall fail at the Time of Purchase or an Option Securities Settlement Date to purchase the Securities which it or they are obligated to purchase under constitute a default under, and a breach of, this Agreement (the a “Defaulted SecuritiesDefault”), then the Representative shall have the right, within 24 hours thereafter, to make arrangements for one of or more of the non-defaulting Underwriters or any other underwriters to purchase all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; provided, however, that if such arrangements shall not have been completed within such 24-hour period, then:): (i) any failure to make a Quarterly Payment, a Cash True-Up Payment or Accrued Amount when due and payable (except any such amount subject to a Financial Covenant Deferral or a Default Deferral); (ii) any material breach of this Agreement that is not curable or, if curable, is not cured within thirty (30) days of written notice thereof; (iii) the number failure by Homes or any of Defaulted Securities does not exceed 10% its Restricted Subsidiaries to make any payment when due (after giving effect to any applicable grace period) under any Material Indebtedness; or (iv) any default in the performance of any agreement or condition contained in the number Principal Credit Agreement, or any other event or condition, the effect of Securities which default or other event or condition is to cause, or to permit the creditors under the Principal Credit Agreement to cause, the indebtedness under the Principal Credit Agreement to become due prior to its stated maturity or to be so purchased by all required to be repurchased, prepaid, redeemed or deferred prior to its stated maturity; provided, that, (A) in the case of clause (iv) above, any such Default shall be deemed to have occurred only if (x) sixty (60) calendar days have passed since the Underwriters first date on which a Default would otherwise have been deemed to occur thereunder (such date, the non-defaulting Underwriters shall be obligated, severally “Default Date”) and not jointly, to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears (y) thirty (30) calendar days have passed since Indemnitee provides written notice (an “Indemnity Default Notice”) of such default to the purchase obligations Senior Agent (and each Financial Representative for any other Senior Indebtedness having commitments or an outstanding principal amount of all non-defaulting Underwriters; or (ii) if at least U.S.$25,000,000), which such Indemnity Default Notice may be delivered on or after the number of Defaulted Securities exceeds 10% of the number of Securities to be so purchased by all of the Underwriters on such date, this Agreement or, with respect to any Option Securities Settlement Default Date, the obligation of the Underwriters to purchase, and the Company to sellduring such sixty (60) calendar day and thirty (30) calendar day periods, the Option Securities to be purchased and sold on such Option Securities Settlement Date shall terminate without liability on relevant creditors under the part of any non-defaulting Underwriter. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter from liability in respect of its default. In the event of any Principal Credit Agreement have not waived such default which does not result in a termination of this Agreement, or, and (B) in the case of an Option Securities Settlement Dateclauses (i), which does not result in a termination of the obligation of the Underwriters (ii) and (iii) above, any such Default shall be deemed to purchase and the Company to sell the relevant Option Securities, as the case may be, either the Representative or the Company shall have the right to postpone the Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period not exceeding seven occurred only if thirty (730) days in order have passed since Indemnitee provides an Indemnity Default Notice to effect the Senior Agent (and each Financial Representative for any required changes in the Registration Statementother Senior Indebtedness having commitments or outstanding principal amount of at least U.S.$25,000,000) and during such thirty (30) calendar day period, the Disclosure Package or the Prospectus or Indemnitee has not waived such default. (b) Promptly, and in any other documents event within five (5) Business Days, upon obtaining knowledge of any Default, Indemnitor shall deliver notice of such Default to Indemnitee in accordance with Section 4.9, specifying the nature of such Default and what actions Indemnitor has taken, is taking or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7proposes to take with respect thereto.

Default. If one or more Underwriters shall fail at Notwithstanding anything to the Time of Purchase or an Option Securities Settlement Date to purchase the Securities which it or they are obligated to purchase contrary under this Agreement letter agreement, upon any default or other failure to perform by any Releasor under this letter agreement, following written notice thereof and a failure to cure same within ten (the “Defaulted Securities”), then the Representative shall have the right, within 24 hours thereafter, to make arrangements for one of or more of the non-defaulting Underwriters or any other underwriters to purchase all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; provided, however, that if such arrangements shall not have been completed within such 24-hour period, then10) days: (a) all Obligations (as defined in the Security Agreement) shall be immediately due and payable; and (b) Borrowers shall pay Lender an amount equal to (i) if interest at the number Default Rate (as defined in the Buyer Promissory Note) on the amount of Defaulted Securities does not exceed 10% principal and unpaid interest (in each case, immediately prior to the Wire Delivery Time) under the Buyer Promissory Note from the date of the number first occurrence of Securities any Event of Default through the date of this letter agreement, together with additional interest from the date of this letter agreement through the date of payment by Borrowers of such amount (at a rate per annum equal to be so purchased by all of the Underwriters on such dateten percent (10%)), the non-defaulting Underwriters shall be obligated, severally and not jointly, to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears to the purchase obligations of all non-defaulting Underwriters; or plus (ii) if El Dorado Utilities, Inc. is the number of Defaulted Securities exceeds 10% landlord under the Lease, all Rent required to be paid by KPS through the end of the number Lease Term, together with additional interest from the date of Securities default through the date of payment by Borrowers of such amount (at a rate per annum equal to be so purchased by all of ten percent (10%)), plus (iii) the Underwriters on such date, this Agreement or, Unused Line Fee and interest at the Default Rate with respect to the Unused Line Fee from the date of the first occurrence of any Option Securities Settlement DateEvent of Default through the date of this letter agreement, together with additional interest from the date of this letter agreement through the date of payment by Borrowers of such amount (at a rate per annum equal to ten percent (10%)), plus (iv) all expenses, including attorneys’ fees and costs and allocated fees and costs of in-house legal counsel of Lender or any of its Affiliates that have been or may hereafter be contracted or incurred, together with interest from the date of such expenditure or allocation through the date of payment by Borrowers of such amount (at a rate per annum equal to ten percent (10%)), incurred by Lender or any of its Affiliates in negotiating, documenting, enforcing or collecting amounts due under this letter agreement, the obligation of the Underwriters to purchase, and the Company to sell, the Option Securities Obligations or any Transaction Agreement. The amounts to be purchased and sold on such Option Securities Settlement Date shall terminate without liability on the part of any non-defaulting Underwriter. No action taken paid pursuant to this Section 7 9(b) shall relieve any defaulting Underwriter from liability in respect of its default. In be calculated as if the event of any such default which does not result in a termination of this Agreement, or, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase Buyer Promissory Note and the Company to sell the relevant Option SecuritiesLine of Credit Note had not been paid in full or terminated, as the case may beapplicable, either the Representative or the Company shall have the right pursuant to postpone the Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period not exceeding seven (7) days in order to effect any required changes in the Registration Statement, the Disclosure Package or the Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7letter agreement.

Default. If (a) In the event of a material breach or default by Duke of any of its representations, warranties, covenants or obligations hereunder, which is not cured within thirty (30) days after notice to Duke thereof (which thirty (30) day period is to run concurrently with the thirty (30) day period set forth in Section 8(b) above and the applicable Closing shall be extended to allow the full cure period to run), Belcrest shall have the right to elect one of the following rights and remedies, as its sole and exclusive remedy with respect to any such breach or more Underwriters default known to Belcrest prior to Initial Closing (it being acknowledged that if Belcrest knows of any such breach or default and fails to notify Duke thereof prior to Closing, Belcrest shall fail at be considered to have elected the Time option set forth in Subsection (ii) below): (i) Terminate this Agreement by notice to Duke, and all obligations of Purchase or an Option Securities Settlement Date to purchase the Securities which it or they are obligated to purchase parties under this Agreement shall terminate and Belcrest shall be entitled to immediate payment from Duke of all out-of-pocket costs incurred by Belcrest in connection with the Agreement and the transactions contemplated hereby (provided that after the “Defaulted Securities”Initial Closing occurs, the out-of-pocket costs shall be measured from the most recent Closing to the date of said termination), then subject to a maximum reimbursement not to exceed $500,000.00. (ii) Waive the Representative breach or default as a condition of Closing (subject to any written agreement between the parties to address said breach or default) and proceed to Closing. (iii) Seek specific performance. (b) In the event of a material breach or default by Company or Belcrest of any of its representations, warranties, covenants or obligations hereunder which is not cured within thirty (30) days after notice to Belcrest thereof, Duke shall have the right, within 24 hours thereafter, right to make arrangements for elect one of or more of the non-defaulting Underwriters or any other underwriters to purchase allfollowing rights and remedies, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon its sole and upon the terms herein set forth; provided, however, that if such arrangements shall not have been completed within such 24-hour period, thenexclusive remedy: (i) if the number of Defaulted Securities does not exceed 10% Terminate this Agreement by notice to Belcrest, and all obligations of the number parties under this Agreement shall terminate and Duke shall be entitled to immediate payment from Belcrest of Securities to be so purchased all out-of-pocket costs incurred by all of Duke in connection with the Underwriters on such dateAgreement and the transactions contemplated hereby, (provided that after the Initial Closing occurs, the nonout-defaulting Underwriters of-pocket costs shall be obligated, severally and not jointly, to purchase measured from the full amount thereof in the proportions that their respective initial purchase obligation bears most recent Closing to the purchase obligations date of all non-defaulting Underwriters; orsaid termination) subject to a maximum reimbursement not to exceed $500,000.00. (ii) if Waive the number breach or default and proceed to Closing in accordance with the provisions of Defaulted Securities exceeds 10% of the number of Securities to be so purchased by all of the Underwriters on such date, this Agreement or, with respect (subject to any Option Securities Settlement Date, written agreement between the obligation of the Underwriters parties to purchase, and the Company to sell, the Option Securities to be purchased and sold on such Option Securities Settlement Date shall terminate without liability on the part of any non-defaulting Underwriter. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter from liability in respect of its address said breach or default. In the event of any such default which does not result in a termination of this Agreement, or, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may be, either the Representative or the Company shall have the right to postpone the Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period not exceeding seven ). (7iii) days in order to effect any required changes in the Registration Statement, the Disclosure Package or the Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7Seek specific performance.

Default. If If, on the Closing Date any one or more Underwriters shall fail at the Time of Purchase or an Option Securities Settlement Date to purchase the Securities which it or they are obligated to purchase under this Agreement (the “Defaulted Securities”), then the Representative shall have the right, within 24 hours thereafter, to make arrangements for one of or more of the non-defaulting Underwriters shall fail or any other underwriters refuse to purchase allOffered Certificates that it or they have agreed to purchase hereunder on such date, and the aggregate principal amount of Offered Certificates which such defaulting Underwriter or Underwriters agreed but failed or refused to purchase is not less more than all, one-tenth of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; provided, however, that if such arrangements shall not have been completed within such 24-hour period, then: (i) if the number of Defaulted Securities does not exceed 10% aggregate principal amount of the number of Securities Offered Certificates to be so purchased by all of the Underwriters on such date, the other Underwriters shall be obligated severally in the proportions that the principal amount of Offered Certificates set forth opposite their respective names in Schedule I bears to the aggregate principal amount of Offered Certificates set forth opposite the names of all such non-defaulting Underwriters shall be obligatedUnderwriters, severally and not jointlyor in such other proportions as you may specify, to purchase the full Offered Certificates which such defaulting Underwriter or Underwriters agreed but failed or refused to purchase on such date; provided that in no event shall the principal amount thereof of Offered Certificates that any Underwriter has agreed to purchase pursuant to Section 3 be increased pursuant to this Section 11 by an amount in excess of one-ninth of such principal amount of Offered Certificates without the proportions that their respective initial written consent of such Underwriter. If, on the Closing Date any Underwriter or Underwriters shall fail or refuse to purchase obligation bears Offered Certificates and the aggregate principal amount of Offered Certificates and the aggregate principal amount of Offered Certificates with respect to the purchase obligations of all nonwhich such default occurs is more than one-defaulting Underwriters; or (ii) if the number of Defaulted Securities exceeds 10% tenth of the number aggregate principal amount of Securities Offered Certificates to be so purchased by all of the Underwriters on such date, this Agreement or, with respect and arrangements satisfactory to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, you and the Company to sellfor the purchase of such Offered Certificates are not made within 36 hours after such default, the Option Securities to be purchased and sold on such Option Securities Settlement Date this Agreement shall terminate without liability on the part of any non-defaulting Underwriter. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter from liability in respect of its defaultor the Company. In the event of any such default which does not result in a termination of this Agreement, or, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may be, either the Representative you or the Company shall have the right to postpone the Time of Purchase or the relevant Option Securities Settlement DateClosing Date but in no event for longer than seven days, as the case may be, for a period not exceeding seven (7) days in order to effect any that the required changes changes, if any, in the Registration Statement, the Disclosure Package or Statement and in the Prospectus or in any other documents or arrangementsarrangements may be effected. As used herein, the term “Underwriter” includes Any action taken under this paragraph shall not relieve any person substituted for an defaulting Underwriter from liability in respect of any default of such Underwriter under this Section 7Agreement.]

Default. If If, on the Closing Date any one or more Underwriters shall fail at the Time of Purchase or an Option Securities Settlement Date to purchase the Securities which it or they are obligated to purchase under this Agreement (the “Defaulted Securities”), then the Representative shall have the right, within 24 hours thereafter, to make arrangements for one of or more of the non-defaulting Underwriters shall fail or any other underwriters refuse to purchase allOffered Securities that it has or they have agreed to purchase hereunder on such date, and the aggregate principal amount of Offered Securities which such defaulting Underwriter or Underwriters agreed but failed or refused to purchase is not less more than all, one-tenth of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; provided, however, that if such arrangements shall not have been completed within such 24-hour period, then: (i) if the number of Defaulted Securities does not exceed 10% aggregate principal amount of the number of Offered Securities to be so purchased by all of the Underwriters on such date, the other Underwriters shall be obligated severally in the proportions that the principal amount of Offered Securities specified to be purchased by them on Schedule I bears to the aggregate principal amount of Offered Securities specified to be purchased by all such non-defaulting Underwriters shall be obligatedUnderwriters, severally and not jointlyor in such other proportions as you may specify, to purchase the full Offered Securities which such defaulting Underwriter or Underwriters agreed but failed or refused to purchase on such date; PROVIDED that in no event shall the principal amount thereof of Offered Securities that any Underwriter has agreed to purchase pursuant to Section 2 be increased pursuant to this Section 9 by an amount in excess of one-ninth of such principal amount of Offered Securities without the proportions that their respective initial written consent of such Underwriter. If on the Closing Date any Underwriter or Underwriters shall fail or refuse to purchase obligation bears Offered Securities and the aggregate principal amount of Offered Securities with respect to the purchase obligations of all nonwhich such default occurs is more than one-defaulting Underwriters; or (ii) if the number of Defaulted Securities exceeds 10% tenth of the number aggregate principal amount of Offered Securities to be so purchased by all of the Underwriters on such date, this Agreement or, with respect and arrangements satisfactory to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, you and the Company to sellfor the purchase of such Offered Securities are not made within 36 hours after such default, the Option Securities to be purchased and sold on such Option Securities Settlement Date this Agreement shall terminate without liability on the part of any non-defaulting Underwriter. No action taken pursuant , the Company or the Guarantor, except that the Company and the Guarantor will continue to this be liable for the payment of expenses to the extent set forth in Section 7 shall relieve any defaulting Underwriter from liability in respect of its default6. In the event of any such default which does not result in a termination of this Agreement, or, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may be, either the Representative you or the Company shall have the right to postpone the Time of Purchase or the relevant Option Securities Settlement Closing Date, as the case may bebut in no event for longer than seven days, for a period not exceeding seven (7) days in order to effect any that the required changes changes, if any, in the Second Registration Statement, the Disclosure Package or Statement and in the Prospectus or in any other documents or arrangementsarrangements may be effected. As used herein, the term “Underwriter” includes Any action taken under this paragraph shall not relieve any person substituted for an defaulting Underwriter from liability in respect of any default of such Underwriter under this Section 7Agreement.

Default. If one or more Underwriters shall fail at the Time Supplier fails to comply with any of Purchase or an Option Securities Settlement Date to purchase the Securities which it or they are obligated to purchase its obligations under this Contract at any time, including (without limitation) failure to meet the Key Performance Indicators as defined in the Service Level Agreement (the “Defaulted SecuritiesDefault”), then without prejudice to any other right or remedy which the Representative shall have University may possess in respect of such a failure the right, within 24 hours thereafter, to make arrangements for University may do one of or more of the non-defaulting Underwriters or any other underwriters following: Without prejudice to purchase all, but not less than all, the provisions of Clauses 2.50 issue a default notice (“Default Notice”) to the Defaulted Securities in Supplier requiring the Supplier to remedy such amounts Default within such time as may be agreed upon and upon the terms herein set forth; provided, however, that if such arrangements shall not have been completed within such 24-hour period, then: (i) if the number of Defaulted Securities does not exceed 10% of the number of Securities to be so purchased by all of the Underwriters on such date, the non-defaulting Underwriters shall be obligated, severally and not jointly, to purchase the full amount thereof specified in the proportions that their respective initial purchase obligation bears to the purchase obligations of all non-defaulting Underwriters; or Default Notice by providing, or providing again (ii) if the number of Defaulted Securities exceeds 10% of the number of Securities to be so purchased by all of the Underwriters on such date, this Agreement or, with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, and the Company to sell, the Option Securities to be purchased and sold on such Option Securities Settlement Date shall terminate without liability on the part of any non-defaulting Underwriter. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter from liability in respect of its default. In the event of any such default which does not result in a termination of this Agreement, or, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may be, either ) without further charge to the University any part of the Services to which such failure relates. Without terminating this Contract in whole or part itself provide or procure the provision of any part of the Services to which such Default relates until such time as the Supplier’s Representative or the Company shall have provided to the right satisfaction of the University’s Representative that such part of the Services will once more be provided by the Supplier to postpone the Time specified standard or at the University’s option until such later time as the University’s Representative may specify as being reasonable in all the circumstances. Without terminating the whole of Purchase this Contract, terminate any aspect of the Services to which the Default relates, and thereafter itself provide or procure the provision of the said Services and without terminating the whole of this Contract in whole or part deduct from any monthly Contract Sum payable to the Supplier such proportion thereof as is fair and reasonable having regard to the period of the relevant Option Securities Settlement Date, Default and to the terms of this Contract. The remedies of the University under Clause 2.48.1 may be exercised successively in respect of any Default by the Supplier. Where the Supplier fails to remedy the Default as the case may be, for a period not exceeding seven (7) days in order to effect any required changes defined in the Registration StatementDefault Notice, or fails to remedy the Default within the time allowed, the Disclosure Package or the Prospectus or in University will be entitled (without prejudice to any other documents rights and remedies it may have) to levy a charge (a “monetary default”) for each Default Notice. The valuation of a monetary default in a Default Notice will reflect the genuine value of the work that the Supplier has contracted to do but has not done, or arrangementshas not done in the satisfactory manner. Where a monetary default has been levied and the Supplier has rectified the Default but then, within a short time, fails to maintain the standard of service, the University shall immediately without prejudice to its other rights and remedies be entitled to levy further monetary default(s). As used herein, part of a monetary default the term “Underwriter” includes University may charge the Supplier the cost of any person substituted for services provided or procured by it under Clauses 2.48.1.2 and 2.48.1.3 together with an Underwriter under this Section 7administration charge equal to 10% of the cost of such services to the Supplier which represents a genuine pre-estimate of the additional management time and costs to the University in procuring the Services due to a default by the Supplier.

Default. If one or more of the Underwriters shall fail at the applicable Closing Time of Purchase or an Option Securities Settlement Date to purchase the Offered Securities which it or they are obligated to purchase under this the applicable Terms Agreement (the “"Defaulted Securities”"), then the Representative Representatives shall have the right, within 24 hours thereafter, to make arrangements for one of or more of the non-defaulting Underwriters Underwriters, or any other underwriters underwriters, to purchase all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; provided. If, however, that if during such arrangements 24 hours the Representatives shall not have been completed within such 24-hour periodarrangements for the purchase of all of the Defaulted Securities, then: (ia) if the number aggregate initial public offering price of the Defaulted Securities does not exceed 10% of the number aggregate initial public offering price of the Offered Securities to be so purchased by all of the Underwriters on pursuant to such dateTerms Agreement, the non-defaulting Underwriters shall be obligated, severally and not jointly, obligated to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears underwriting obligations under the applicable Terms Agreement (including this Agreement as incorporated by reference therein) bear to the purchase underwriting obligations of all such non-defaulting Underwriters; or (iib) if the number aggregate initial public offering price of the Defaulted Securities exceeds 10% of the number of Securities to be so purchased by all aggregate initial public offering price of the Underwriters on such date, this Agreement or, with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, and the Company to sell, the Option Offered Securities to be purchased and sold on pursuant to such Option Securities Settlement Date Terms Agreement, such Terms Agreement (including this Agreement as incorporated by reference therein) shall terminate terminate, without any liability on the part of any non-defaulting UnderwriterUnderwriter or the Company. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter from liability in respect of its defaultany default of such Underwriter under the applicable Terms Agreement or this Agreement. In the event of a default by any such default which does not result Underwriter or Underwriters as set forth in a termination of this Agreement, or, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may beSection, either the Representative Representatives or the Company shall have the right to postpone the applicable Closing Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period not exceeding seven (7) days in order to effect that any required changes in the Registration Statement, the Disclosure Package Prospectus or the applicable Prospectus Supplement, or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 7may be effected.

Default. If one or more of the Underwriters shall fail at the Closing Time or a Date of Purchase or an Option Securities Settlement Date Delivery to purchase the Securities which it or they are obligated to purchase under this Agreement (the “Defaulted Securities”), then the Representative shall have the right, within 24 hours thereafter, to make arrangements for one of or more of the non-defaulting Underwriters Underwriters, or any other underwriters underwriters, to purchase all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; providedif, however, that if such arrangements the Representatives shall not have been completed such arrangements within such 24-hour period, then: (i) if the number of Defaulted Securities does not exceed 10% of the number of Securities to be so purchased by all of the Underwriters on such date, each of the non-defaulting Underwriters shall be obligated, severally and not jointly, to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears underwriting obligations hereunder bear to the purchase underwriting obligations of all non-defaulting Underwriters; , or (ii) if the number of Defaulted Securities exceeds 10% of the number of Securities to be so purchased by all of the Underwriters on such date, this Agreement or, with respect to any Option Securities Settlement DateDate of Delivery which occurs after the Closing Time, the obligation of the Underwriters to purchase, purchase and of the Company to sell, sell the Option Securities to be purchased and sold on such Option Securities Settlement Date of Delivery, shall terminate without liability on the part of any non-defaulting Underwriter. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter from liability in respect of its default. In the event of any such default which does not result in a termination of this Agreement, Agreement or, in the case of an Option Securities Settlement Datea Date of Delivery which is after the Closing Time, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may be, either the Representative (i) Representatives or (ii) the Company shall have the right to postpone the Closing Time of Purchase or the relevant Option Securities Settlement DateDate of Delivery, as the case may be, for a period not exceeding seven (7) days in order to effect any required changes in the Registration Statement, the Disclosure Package Statement or the Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 710.

Default. If one or more of the Underwriters participating in an offering of Senior Securities shall fail at the applicable Closing Time of Purchase or an Option Securities Settlement Date to purchase the Underwritten Securities which that it or they are obligated to purchase under this the applicable Terms Agreement (the “"Defaulted Securities”"), then the Representative Representatives shall have the right, within 24 hours thereafter, to make arrangements for one of or more of the non-defaulting Underwriters Underwriters, or any other underwriters satisfactory to the Company, to purchase all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; providedforth in this Agreement and the applicable Terms Agreement. If, however, that if during such arrangements 24 hours the Representatives shall not have been completed within such 24-hour periodarrangements for the purchase of all of the Defaulted Securities, then: (ia) if the number aggregate principal amount of Defaulted Securities does not exceed 10% of the number aggregate principal amount of the Underwritten Securities to be so purchased by all of pursuant to the Underwriters on such dateTerms Agreement, the non-defaulting Underwriters named in such Terms Agreement shall be obligated, severally and not jointly, obligated to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears underwriting obligations thereunder bear to the purchase underwriting obligations of all such non-defaulting Underwriters; , or (iib) if the number aggregate principal amount of Defaulted Securities exceeds 10% of the number of Securities to be so purchased by all aggregate principal amount of the Underwriters on such date, this Agreement or, with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, and the Company to sell, the Option Underwritten Securities to be purchased and sold on pursuant to such Option Securities Settlement Date Terms Agreement, the Terms Agreement shall terminate without any liability on the part of any non-defaulting UnderwriterUnderwriters. As used in this Section only, the aggregate amount or aggregate principal amount of Underwritten Securities shall mean the aggregate principal amount of any Senior Securities or Subordinated Securities included in the relevant Underwritten Securities. No action taken pursuant to this Section 7 shall relieve any defaulting Underwriter from liability in respect of its defaultdefault under this Agreement and the Terms Agreement. In the event of a default by any such default which does not result Underwriter or Underwriters as set forth in a termination of this Agreement, or, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may beSection, either the Representative Representatives or the Company shall have the right to postpone the applicable Closing Time of Purchase or the relevant Option Securities Settlement Date, as the case may be, for a period not exceeding seven (7) days in order to effect any required changes in the Registration Statement, the Disclosure Package Statement or the Prospectus or in any other documents or arrangements. As used herein, the term “"Underwriter” " includes any person substituted for an Underwriter under this Section 710.

Default. (a) If one or more Underwriters shall fail at the Time of Purchase or an Option Securities Settlement Date to purchase the Securities which it or they are obligated to purchase under this Agreement (the “Defaulted Securities”), then the Representative shall have the right, within 24 hours thereafter, to make arrangements for one of or more of the non-defaulting Underwriters or any other underwriters to purchase all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; provided, however, that if such arrangements shall not have been completed within such 24-hour period, then: (i) if the number of Defaulted Securities does not exceed 10% of the number of Securities to be so purchased by all of the Underwriters on such date, the non-defaulting Underwriters shall be obligated, severally and not jointly, to purchase the full amount thereof in the proportions that their respective initial purchase obligation bears to the purchase obligations of all non-defaulting Underwriters; or (ii) if the number of Defaulted Securities exceeds 10% of the number of Securities to be so purchased by all of the Underwriters on such date, this Agreement or, with respect to any Option Securities Settlement Date, the obligation of the Underwriters to purchase, and the Company to sell, the Option Securities to be purchased and sold on such Option Securities Settlement Date shall terminate without liability on the part of any non-defaulting Underwriter. No action taken pursuant to this Section 7 7(a) shall relieve any defaulting Underwriter from liability in respect of its default. In the event of any such default which does not result in a termination of this Agreement, or, in the case of an Option Securities Settlement Date, which does not result in a termination of the obligation of the Underwriters to purchase and the Company to sell the relevant Option Securities, as the case may be, either the Representative or the Company shall have the right to postpone the Time of Purchase or the relevant Option Securities Settlement Date, as the case may bePurchase, for a period not exceeding seven (7) days in order to effect any required changes in the Registration Statement, the Disclosure Package or the Prospectus or in any other documents or arrangements. As used herein, the term “Underwriter” includes any person substituted for an Underwriter under this Section 77(a).