Default Not Exceeding 10% of Firm Securities or Option Shares. If the Underwriter shall default in its obligations to purchase the Firm Securities or the Option Shares, if the Over-allotment Option is exercised hereunder, and if the number of the Firm Securities or Option Shares with respect to which such default relates does not exceed in the aggregate 10% of the number of Firm Securities or Option Shares that the Underwriter has agreed to purchase hereunder, then such Firm Securities or Option Shares to which the default relates shall be purchased by a non-defaulting Underwriter at your election in proportion to the respective commitments hereunder.
Appears in 2 contracts
Sources: Underwriting Agreement (Bone Biologics Corp), Underwriting Agreement (Bone Biologics Corp)