Common use of Note Issuance Clause in Contracts

Note Issuance. Subject to the terms and conditions of this Agreement, at the Closing (as defined below) the Company agrees to sell to each Investor, and each Investor severally agrees to purchase from the Company a subordinated, mandatorily convertible note, which shall be convertible into shares of the common stock, par value $0.01 of the Company (“Common Stock”), in substantially the form attached to this Agreement as Exhibit B (individually, a “Note”, and collectively, the “Notes”) in the principal amount set forth opposite such Investor’s name on Exhibit A hereto. The obligations of the Investors to purchase Notes are several and not joint.