Substitution of Underwriters Clause Example from Business Contracts

This example Substitution of Underwriters clause appears in 5 contracts from 1 company

Substitution of Underwriters. If any Underwriter shall default in its obligation to purchase the Bonds which it has agreed to purchase hereunder and the aggregate principal amount of such Bonds which such defaulting Underwriter agreed but failed to purchase does not exceed 10% of the total principal amount of Bonds, the non-defaulting Underwriters may make arrangements satisfactory to the Company for the purchase of the aggregate principal amount of such Bonds by other persons, including any of the non-defaulting Underwriter...s, but if no such arrangements are made by the Closing Date, the non-defaulting Underwriters shall be obligated severally, in proportion to their respective commitments hereunder, to purchase the Bonds that such defaulting Underwriter agreed but failed to purchase. If any Underwriter or Underwriters shall so default and the aggregate principal amount of Bonds with respect to which such default or defaults occur exceeds 10% of the total principal amount of Bonds and arrangements satisfactory to the non-defaulting Underwriters and the Company for the purchase of such Bonds by other persons are not made within 36 hours after such default, this Agreement will terminate. If the non-defaulting Underwriter or Underwriters or substituted underwriter or underwriters are required hereby or agree to take up all or part of the Bonds of the defaulting Underwriter as provided in this Section 8, (i) the Company shall have the right to postpone the Closing Date for a period of not more than five full business days, in order that the Company may effect whatever changes may thereby be made necessary in the Registration Statement, Pricing Disclosure Package or Prospectus or in any other documents or arrangements, and the Company agrees to promptly file any amendments to the Registration Statement or supplements to the Prospectus which may thereby be made necessary, and (ii) the respective aggregate principal amount of Bonds which the non-defaulting Underwriters or substituted purchaser or purchasers shall thereafter be obligated to purchase shall be taken as the basis of their underwriting obligation for all purposes of this Agreement. Nothing herein contained shall relieve any defaulting Underwriter of its liability to the Company or the non-defaulting Underwriters for damages occasioned by its default hereunder. Any termination of this Agreement pursuant to this Section 8 shall be without liability on the part of the non-defaulting Underwriters or the Company, other than as provided in Sections 7 and 10. 23 9. Survival of Indemnities, Representations, Warranties, etc. The respective indemnities, agreements, representations, warranties and other statements of the Company and the several Underwriters, as set forth in this Agreement or made by or on behalf of them, respectively, pursuant to this Agreement, shall remain in full force and effect, regardless of any investigation (or any statement as to the results thereof) made by or on behalf of any Underwriter or any controlling person of any Underwriter, or the Company, or any officer or director or controlling person of the Company, and shall survive delivery of and payment for the Bonds. View More Arrow
Found in CENTERPOINT ENERGY HOUSTON ELECTRIC LLC contract
CENTERPOINT ENERGY HOUSTON ELECTRIC LLC Contracts

Underwriting Agreement, dated February 23, 2022, among the Company and Barclays Capital Inc., Morgan Stanley & Co. LLC, RBC Capital Markets, LLC, Scotia Capital (USA) Inc. and... (Filed With SEC on February 24, 2022)

Underwriting Agreement, dated March 20, 2023, among the Company and BNP Paribas Securities Corp., BofA Securities, Inc., Credit Suisse Securities (USA) LLC, MUFG Securities... (Filed With SEC on March 21, 2023)

Underwriting Agreement, dated as of February 26, 2018, among the Company and the several Underwriters named in Schedule I thereto relating to the Companys 3.95% General Mortgage... (Filed With SEC on February 27, 2018)

CENTERPOINT ENERGY HOUSTON ELECTRIC, LLC $300,000,000 3.00% General Mortgage Bonds, Series AA, due 2027 Underwriting Agreement (this Agreement) January 9, 2017 (Filed With SEC on January 11, 2017)

CENTERPOINTENERGY HOUSTON ELECTRIC, LLC $300,000,000 2.40% General Mortgage Bonds, Series Z, due 2026 Underwriting Agreement (this Agreement) August 8, 2016 (Filed With SEC on August 10, 2016)