Purchase of Subsequently Purchased Notes at Buyer’s Election. For one or more Subsequent Closings, the Buyers may deliver to the Company a written notice (an “Election Notice”) setting forth a principal amount of additional Notes (the “Subsequently Purchased Notes” and, together with the Initial Purchased Notes, the “Purchased Securities”), that the Buyers desire to purchase, and which the Company shall issue and sell, at such Subsequent Closing. Subject to the satisfaction (or waiver) of the conditions set forth in Sections 6 and 7(b), as applicable, and in reliance upon the effective Registration Statement the Company agrees to issue and sell to each Buyer, and each Buyer severally, but not jointly, agrees to purchase from the Company at such Subsequent Closing, the aggregate principal amount of Subsequently Purchased Notes as is set forth on such Election Notice, provided that the maximum aggregate principal amount of Subsequently Purchased Notes issued pursuant to this Agreement to any Buyer shall not exceed the aggregate principal amounts as is set forth opposite such Buyer’s name in column (5) on the Schedule of Buyers.
