Each Institutional Investor, severally and not jointly, represents to the Company that such person is acquiring New Notes solely for such person’s own account and not as a nominee or agent for any other person and not with a view to, or for sale in connection with, any distribution thereof (within the meaning of the Securities Act of 1933, as amended (the “ Securities Act ”)), that would be in violation of the securities laws of the United States of America or any state thereof, without prejudice, however, to such Institutional Investor’s right at all times to sell or otherwise dispose of any part of such New Notes in accordance with the terms thereof and applicable law.