Common use of Action by Underwriters Clause in Contracts

Action by Underwriters. All steps which must or may be taken by the Underwriters in connection with this Agreement with the exception of the matters relating to termination, indemnification or waiver contemplated by this Agreement, may be taken by GMP on behalf of itself and the other Underwriters and the Corporation’s execution of this Agreement shall constitute the Corporation’s authority for accepting notification of any such steps from, and for delivering the definitive documents constituting the Common Shares and Warrants comprising the Initial Shares and any Over-Allotment Shares to, or to the order of, GMP. The obligations of the Underwriters shall be several and not joint and several.