SECTION 10. DEFAULT BY ONE OR MORE OF THE UNDERWRITERS.
If one or more of the Underwriters shall fail at the Closing Time to purchase the Notes which it or they are obligated to purchase under this
Underwriting Agreement (the Defaulted Securities), then the Representatives shall have the right, within 24 hours thereafter, to make arrangements for one 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; if, however, the Representatives shall not have completed such
arrangements within such 24 hour period, then:
(a) if the number or aggregate principal amount, as the case may be, of Defaulted
Securities does not exceed 10% of the number or aggregate principal amount, as the case may be, of Notes to be purchased on such date pursuant to this Underwriting Agreement, the non-defaulting Underwriters
shall be obligated, severally and not jointly, to purchase the full amount thereof in the proportions that their respective underwriting obligations under this Underwriting Agreement bear to the underwriting obligations of all non-defaulting Underwriters, or
(b) if the number or aggregate principal amount, as the case may be, of
Defaulted Securities exceeds 10% of the number or aggregate principal amount, as the case may be, of Notes to be purchased on such date pursuant to this Underwriting Agreement, this Underwriting Agreement shall terminate without liability on the
part of any non-defaulting Underwriter or on the part of the Company, except for the expenses to be borne by the Company and the Underwriters as provided in Section 4 and the indemnification and
contribution provisions in Sections 6 and 7 hereof.
No action taken pursuant to this Section 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
Underwriting Agreement, either the Representatives or the Company shall have the right to postpone the Closing Time for a period not exceeding seven 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.
SECTION 11. NOTICES. All notices and other communications hereunder shall be
in writing and shall be deemed to have been duly given if mailed or transmitted by any standard form of telecommunication. Notices to the Underwriters shall be directed to the Representatives in care of BofA Securities, Inc., 114 West 47th Street NY8-114-07-01, New York, New York 10036, Attention: High Grade Debt Capital Markets Transaction Management/Legal, fax: 212-901-7881; Truist Securities, Inc., 3333 Peachtree Road, NE, Atlanta, Georgia 30326, fax:
404-926-4027, Attention: Investment Grade Debt Capital Markets; U.S. Bancorp Investments, Inc. at c/o U.S. Bancorp Investments, Inc. 214 N. Tryon St., 26th
Floor, Charlotte, North Carolina 28202, Attention: Credit Fixed income, facsimile: 704-335-2393; and Wells Fargo Securities, LLC at c/o Wells Fargo Securities, LLC, 550
South Tryon Street, 5th Floor, Charlotte, North Carolina 28202, Attention: Transaction Management, Email: tmgcapitalmarkets@wellsfargo.com. Notices to the Company shall be directed to the Company at 1000 Darden Center Drive, Orlando, Florida 32837,
attention of Senior Vice President, General Counsel and Secretary.
SECTION 12. PARTIES. This Underwriting Agreement shall each inure to
the benefit of and be binding upon the Company, the Underwriters and their respective successors. Nothing expressed or mentioned in this Underwriting Agreement is intended or shall be construed to give any person, firm or corporation, other than the
Underwriters and the Company and their respective successors and the controlling persons and officers and directors referred to in Sections 6 and 7
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