7.1 Each of the Underwriters undertakes to refund Subscription Amount (as defined in Clause 8.2 of this Agreement) received by it without interest or penalty to those subscribers who are not successfully allocated by it in respect of any number of Offered Shares which they have expressed their interest to subscribe but not allocated to them, in the manner described in the Registration Statement and Prospectus, within the period as specified in Clause 9.1. If and to the extent that such refund is not made within the said period, the relevant Underwriter shall pay interest, on the amount required to be but not refunded, to those unsuccessful subscribers at the rate of 7.5 per cent per annum calculated from the day following the expiry of such relevant period. Each Underwriter agrees that it shall not use the refund amount as mentioned above for any purpose other than to refund to the unsuccessful subscribers.