Substitution of Underwriters Clause Example from Business Contracts
This example Substitution of Underwriters clause appears in
4 contracts
from
1 company
Substitution of Underwriters. If any Underwriter defaults in its obligation to purchase the number of Securities which it has agreed to purchase under this Agreement, the non-defaulting Underwriters shall be obligated to purchase (in the respective proportions which the number of Securities set forth opposite the name of each non-defaulting Underwriter in Schedule I hereto bears to the total number of Securities set forth opposite the names of all the non-defaulting Underwriters in Schedule I hereto) the Securities which the
... defaulting Underwriter agreed but failed to purchase (the "Default Securities"); except that the non-defaulting Underwriters shall not be obligated to purchase any of the Securities if the total number of Securities which the defaulting Underwriter or Underwriters agreed but failed to purchase exceeds 10% of the total number of Firm Securities, and any non-defaulting Underwriter shall not be obligated to purchase more than 110% of the number of Securities set forth opposite its name in Schedule I attached hereto purchasable by it pursuant to the terms of Section 3 hereof. If the foregoing maximums are exceeded, (i) the non-defaulting Underwriters, and any other underwriters satisfactory to the Representatives who so agree, shall have the right, but shall not be obligated, to purchase (in such proportions as may be agreed upon among them) all the Default Securities on the terms contained herein. If the non-defaulting Underwriters or the other underwriters satisfactory to the Representatives do not elect to purchase the Default Securities, this Agreement shall terminate without liability on the part of any non-defaulting Underwriter or the Company except for the payment of expenses to be borne by the Company 26 and the Underwriters as provided in Section 5 hereof and the indemnity and contribution agreements of the Company and the Underwriters contained in Section 7 hereof. Nothing contained herein shall relieve a defaulting Underwriter of any liability it may have for damages caused by its default. If the other underwriters satisfactory to the Representatives are obligated or agree to purchase the Securities of a defaulting Underwriter, either the Representatives or the Company may postpone the First Closing Date for up to five full Business Days in order to effect any changes that may be necessary in the Registration Statement, the Time of Sale Disclosure Package or the Prospectus or in any other document or agreement, and to file promptly any amendments or any supplements to the Registration Statement or the Time of Sale Disclosure Package or the Prospectus which in the Representatives' opinion may thereby be made necessary. The term "Underwriter" as used in this Agreement shall include any party substituted under this Section 8 with like effect as if it had originally been a party to this Agreement with respect to the Securities.
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New York Mortgage Trust, Inc. Contracts
Underwriting Agreement, dated as of January 8, 2019, by and among the Company, Morgan Stanley & Co. LLC and Credit Suisse Securities (USA) LLC
(Filed With SEC on January 11, 2019)
Underwriting Agreement, dated as of July 17, 2019, by and among the Company, Morgan Stanley & Co. LLC and UBS Securities LLC
(Filed With SEC on July 22, 2019)
Underwriting Agreement, dated as of November 7, 2018, by and among the Company, Morgan Stanley & Co. LLC and Credit Suisse Securities (USA) LLC
(Filed With SEC on November 13, 2018)
Underwriting Agreement, dated as of August 9, 2018, by and among the Company, Morgan Stanley & Co. LLC and Credit Suisse Securities (USA) LLC
(Filed With SEC on August 14, 2018)
