Backstop Commitment Units. If the Closing does not occur, all amounts deposited by the Commitment Parties in the Escrow Account shall be returned to the Commitment Parties in accordance with the terms of the escrow agreement. Notwithstanding the foregoing, all payments contemplated to be made by any Commitment Party to the Escrow Account pursuant to this Section 2.4 may instead be made, at the option of such Commitment Party, to a segregated bank account of the Rights Offering Subscription Agent designated by the Rights Offering Subscription Agent in the Funding Notice and shall be delivered and paid to such account on the Escrow Account Funding Date.
Appears in 3 contracts
Sources: Backstop Commitment and Equity Investment Agreement (Vanguard Natural Resources, Inc.), Backstop Commitment and Equity Investment Agreement (Vanguard Natural Resources, LLC), Backstop Commitment and Equity Investment Agreement (Vanguard Natural Resources, LLC)