The Holder hereby waives, effective as of the Effective Time: (i) the breach by the Company of Section 4(n)(ii) of the SPA solely with respect to (x) the Company’s filing of the Offering Registration Statement, (y) the Company's filing of amendments to the Offering Registration Statement to complete the Subsequent Offering substantially as described above no later than September 30, 2016 and (z) the Company's consummation of the Subsequent Offering as set forth in the Offering Registration Statement, as amended by the amendments described in the immediately preceding clause (y), and (ii) the Event of Default arising under Section 4(a)(x) of the Notes due to the Company’s failure to comply with Section 4(n)(ii) of the SPA as described in the immediately preceding clause (i).