DNC 2025 Backstop Commitment Clause Samples

DNC 2025 Backstop Commitment. On and subject to the terms and conditions hereof, each DNC 2025 Commitment Party agrees, severally and not jointly, to purchase, and/or to cause its Related Fund(s), if applicable, to duly purchase, and the Company agrees to sell to each such DNC 2025 Commitment Party or such DNC 2025 Commitment Party’s Related Fund(s), if applicable, pursuant to the terms of the Note Purchase Agreement, on the Closing Date, an aggregate principal amount of DNC 2025 Unsubscribed New Notes equal to (i) such DNC 2025 Commitment Party’s DNC 2025 Backstop Commitment Percentage multiplied by (ii) the aggregate number of DNC 2025 Unsubscribed New Notes (such amount, each Commitment Party’s “DNC 2025 Backstop Commitment,” and collectively, the “DNC 2025 Aggregate Backstop Commitment”), at a purchase price of $1.00 for each $1.00 aggregate principal amount of DNC 2025 Unsubscribed New Notes, payable in cash pursuant to the terms hereof and of the Note Purchase Agreement (the amount paid to the Issuer on the Closing Date on account of such DNC 2025 Commitment Party’s DNC 2025 Backstop Commitment, the “DNC 2025 Backstop Purchase Price”).