BACKSTOP COMMITMENT      17 Clause Samples

BACKSTOP COMMITMENT      17. Section 2.1 The Rights Offering. 17 Section 2.2 The Subscription Commitment; The Backstop Commitment. 18 Section 2.3 Commitment Party Default. 18 Section 2.4 Subscription Escrow Account Funding. 19 Section 2.5 Closing. 20 Section 2.6 Transfer of Backstop Commitments. 21 Section 2.7 Designation Rights. 22 Section 2.8 Notification of Aggregate Number and Original Principal Amount of Exercised Subscription Rights. 23 Section 3.1 Premium Payable by the Debtors. 23 Section 3.2 Payment of Premium. 23 Section 3.3 Expense Reimbursement. 24 Section 3.4 Tax Treatment. 24 Section 3.5 Integration; Administrative Expense. 25 Section 4.1 Organization and Qualification. 25 Section 4.2 Corporate Power and Authority. 26 Section 4.3 Execution and Delivery; Enforceability. 26 Section 4.4 Authorized and Issued Capital Shares; Issuance. 26 Section 4.5 Reserve Regulations. 28 Section 4.6 No Conflict. 28 Section 4.7 Consents and Approvals. 28 Section 4.8 Arm’s-Length. 29 Section 4.9 Financial Statements. 29 Section 4.10 Company SEC Documents and Disclosure Statements. 29 Section 4.11 Absence of Certain Changes. 30 Section 4.12 No Violation; Compliance with Laws. 30 Section 4.13 Legal Proceedings. 30 Section 4.14 Labor Relations. 30 Section 4.15 Intellectual Property. 30 Section 4.16 Title to Real and Personal Property. 30 Section 4.17 No Undisclosed Relationships. 31 Section 4.18 Licenses and Permits. 31 Section 4.19 Environmental. 31 Section 4.20 Tax Matters. 32 Section 4.21 Employee Benefit Plans. 33 Section 4.22 Internal Control Over Financial Reporting. 33 Section 4.23 Disclosure Controls and Procedures. 33 Section 4.24 Material Contracts. 33 Section 4.25 No Unlawful Payments. 34 Section 4.26 Compliance with Money Laundering Laws. 34 Section 4.27 Compliance with Sanctions Laws. 34 Section 4.28 No Broker’s Fees. 35 Section 4.29 Takeover Statutes. 35 Section 4.30 Investment Company Act. 35 Section 4.31 Insurance. 35 Section 4.32 No Undisclosed Material Liabilities. 35 Section 4.33 Exemption from Registration. 36 Section 5.1 Incorporation. 36 Section 5.2 Corporate Power and Authority. 36 Section 5.3 Execution and Delivery. 36 Section 5.4 No Registration. 37 Section 5.5 Purchasing Intent. 37 Section 5.6 Sophistication; Evaluation. 37 Section 5.7 No Conflict. 38 Section 5.8 Consents and Approvals. 38 Section 5.9 Legal Proceedings. 38 Section 5.10 No Broker’s Fees. 38 Section 5.11 Sufficiency of Funds. 38 Section 6.1 Approval Orders. 39 Section 6.2 Conduct of Business. 39 Section ...