Common use of Premium Payable by the Company Clause in Contracts

Premium Payable by the Company. Subject to Section 3.2, in consideration for the Backstop Commitment and the other agreements of the Commitment Parties in this Agreement, the Debtors shall pay or cause to be paid a nonrefundable aggregate premium in an amount equal to $3,000,000, which represents 6% of the Rights Offering Amount, payable in accordance with Section 3.2, to the Commitment Parties (including any Replacing Commitment Party, but excluding any Defaulting Commitment Party) or their designees based upon their respective Backstop Commitment Percentages at the time the payment is made (the “Commitment Premium”). The provisions for the payment of the Commitment Premium, the Termination Fee and Expense Reimbursement, and the indemnification provided herein, are an integral part of the transactions contemplated by this Agreement and without these provisions the Commitment Parties would not have entered into this Agreement.

Appears in 2 contracts

Samples: Backstop Commitment Agreement (Penn Virginia Corp), Backstop Commitment Agreement

AutoNDA by SimpleDocs

Premium Payable by the Company. Subject to Section 3.2, in as consideration for the Backstop Commitment and the other agreements of the Commitment Parties in this Agreement, the Debtors shall pay or cause to be paid a nonrefundable aggregate premium in an amount equal to $3,000,0004,375,000 (the “Commitment Premium”). The Commitment Premium shall be payable, which represents 6% of the Rights Offering Amount, payable in accordance with Section 3.2, to the Commitment Parties (including any Replacing Commitment Party, but excluding any Defaulting Commitment Party) or their designees based upon in proportion to their respective Backstop Commitment Percentages at the time the payment of the Commitment Premium is made (the “Commitment Premium”)made. The provisions for the payment of the Commitment Premium, the Termination Fee and Expense Reimbursement, and the indemnification provided herein, are an integral part of the transactions contemplated by this Agreement and without these provisions the Commitment Parties would not have entered into this Agreement.

Appears in 1 contract

Samples: Backstop Commitment Agreement (Chaparral Energy, Inc.)

Premium Payable by the Company. Subject to Section 3.2, in consideration for the Backstop Commitment Commitments and the other agreements of the Commitment Premium Parties in this Agreement, the Debtors shall pay or cause to be paid a nonrefundable aggregate premium in an amount equal to $3,000,00015,345,000, which represents 66.0% of the Rights Offering Total Commitment Amount, payable in accordance with Section 3.2, to the Commitment Premium Parties (including any Replacing Commitment Party, but excluding any Defaulting Commitment Party) or their designees based upon their respective Backstop Commitment Percentages at the time the such payment is made (the “Commitment Premium”). The provisions for the payment of the Commitment Premium, the Termination Fee Premium and Expense Reimbursement, and the indemnification provided herein, are an integral part of the transactions contemplated by this Agreement and without these provisions the Commitment Parties would not have entered into this Agreement.

Appears in 1 contract

Samples: Equity Investment Agreement (Vanguard Natural Resources, LLC)

Premium Payable by the Company. Subject to Section 3.2, in consideration for the Backstop Commitment Commitments and the other agreements of the Commitment Premium Parties in this Agreement, the Debtors shall pay or cause to be paid a nonrefundable aggregate premium in an amount equal to $3,000,00015,345,000, which represents 66.0% of the Rights Offering Total Commitment Amount, payable in accordance with Section 3.2, to the Commitment Premium Parties (including any Replacing Commitment Party, but excluding any Defaulting Commitment Party) or their designees based upon their respective Backstop Commitment Percentages at the time the such payment is made (the “Commitment Premium”). The provisions for the payment of the Commitment Premium, the Termination Fee Premium and Expense Reimbursement, and the indemnification provided herein, are an integral part of the transactions contemplated by this Agreement and without these provisions the Commitment Parties would not have entered into this Agreement.27

Appears in 1 contract

Samples: Investment Agreement (Vanguard Natural Resources, Inc.)

Premium Payable by the Company. Subject to Section 3.2, in consideration for the Backstop Commitment Commitments and the other agreements of the Senior Commitment Parties in this Agreement, the Debtors shall pay or cause to be paid a nonrefundable aggregate premium in an amount equal to $3,000,00015,345,000, which represents 66.0% of the Rights Offering Total Commitment Amount, payable in accordance with Section 3.2, to the Senior Commitment Parties (including any Replacing Commitment Party, but excluding any Defaulting Commitment Party) or their designees based upon their respective Backstop Commitment Percentages at the time the such payment is made (the “Commitment Premium”). The provisions for the payment of the Commitment Premium, the Termination Fee Premium and Expense Reimbursement, and the indemnification provided herein, are an integral part of the transactions contemplated by this Agreement and without these provisions the Commitment Parties would not have entered into this Agreement.. Section 3.2

Appears in 1 contract

Samples: Investment Agreement (Vanguard Natural Resources, Inc.)

AutoNDA by SimpleDocs

Premium Payable by the Company. Subject to Section ‎Section 3.2, in consideration for the Backstop Commitment and the other agreements of the Commitment Parties in this Agreement, the Debtors shall pay or cause to be paid a nonrefundable aggregate premium in an amount equal to $3,000,00012,000,000, which represents 6% of the Rights Offering Amount, payable in accordance with Section ‎Section 3.2, to the Commitment Parties (including any Replacing Commitment Party, but excluding any Defaulting Commitment Party) or their designees based upon their respective Backstop Commitment Percentages at the time the payment is made (the “Commitment Premium”). The provisions for the payment of the Commitment Premium, the Termination Fee and Expense Reimbursement, and the indemnification provided herein, are an integral part of the transactions contemplated by this Agreement and without Agreement. Without these provisions provisions, the Commitment Parties would not have entered into this AgreementAgreement and incurred the administrative expense and expended the resources and capital to do so.

Appears in 1 contract

Samples: Backstop Commitment Agreement (Bonanza Creek Energy, Inc.)

Premium Payable by the Company. Subject to Section 3.2, in consideration for the Backstop Commitment Commitments and the other agreements of the Senior Commitment Parties in this Agreement, the Debtors shall pay or cause to be paid a nonrefundable aggregate premium in an amount equal to $3,000,00015,345,000, which represents 66.0% of the Rights Offering Total Commitment Amount, payable in accordance with Section 3.2, to the Senior Commitment Parties (including any Replacing Commitment Party, but excluding any Defaulting Commitment Party) or their designees based upon their respective Backstop Commitment Percentages at the time the such payment is made (the “Commitment Premium”). The provisions for the payment of the Commitment Premium, the Termination Fee Premium and Expense Reimbursement, and the indemnification provided herein, are an integral part of the transactions contemplated by this Agreement and without these provisions the Commitment Parties would not have entered into this Agreement.

Appears in 1 contract

Samples: Equity Investment Agreement (Vanguard Natural Resources, LLC)

Time is Money Join Law Insider Premium to draft better contracts faster.