Apollo Backstop Amount definition

Apollo Backstop Amount means 58.27553% of the Backstopped Amount, which certain Affiliates of the Apollo Sponsor have agreed to fund pursuant to the terms of the Apollo Equity Commitment Letter and Apollo Sponsor has agreed to fund pursuant to the Arrangement Agreement;
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Apollo Backstop Amount shall be equal to the number of Shares validly redeemed by public shareholders of Artius (other than Apollo Backstop Provider and its affiliates) in connection with the Transaction, up to a total of 3.0 million Shares, at a price of $10.00 per share (the “Maximum Apollo Backstop”); provided, that if the Company enters into Other Backstop Agreements (other than with strategic investors and their affiliates who have not on or prior to the date of this Agreement executed a subscription agreement in connection with an equity investment in the Company connection with the Transaction and otherwise, as determined by the Company in good faith (“Strategic Investors”)), the Apollo Backstop Amount shall be reduced, dollar-for-dollar, by the amount by which the aggregate commitments under Other Backstop Agreements (for the avoidance of doubt, not including Other Backstop Agreements entered into with Strategic Investors) exceeds $20 million (until reduced to zero); provided further, that the Company may reduce the Apollo Backstop Amount at its sole discretion (regardless of Redemption Amount levels or commitments under Other Backstop Agreements). Irrespective of whether the Apollo Backstop Amount shall be reduced (even if reduced to zero), the Maximum Apollo Backstop shall be equal $30,000,000 for purposes of Backstop Premium Letter (as defined below), dated the date hereof, by and between the Company and Apollo Backstop Provider. The Maximum Apollo Backstop shall be allocated to each Apollo Entity in the amount of Shares set forth in each signature page hereto corresponding to such Apollo Entity, and any reduction of the Apollo Backstop Amount as described in the first sentence of this Section 2(c) shall reduce each Apollo Entity’s allocation proportionally.
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Examples of Apollo Backstop Amount in a sentence

  • Subject to the terms and conditions hereof, at the Closing (as defined below), Apollo Backstop Provider hereby agrees to subscribe for and purchase, and the Company hereby agrees to issue and sell to Apollo Backstop Provider, upon the payment of the Purchase Price, the Backstop Shares in an amount equal to Apollo Backstop Amount (as defined below).

Related to Apollo Backstop Amount

  • Backstop Agreement means that certain backstop commitment agreement by and among the Backstop Parties, Valaris, and the other Debtor parties thereto, as amended by that certain amended backstop commitment agreement, dated February 5, 2021, by and among the Backstop Parties, Valaris, and the other Debtor parties thereto, as may be further amended, supplemented, or modified from time to time, setting forth, among other things, the terms and conditions of the Rights Offering and the Backstop Commitments, attached as Exhibit 2 to the Restructuring Term Sheet.

  • Backstop Commitment has the meaning set forth in Section 2.2(b).

  • Rights Offering Amount means $50 million.

  • Make-Whole Acquisition Stock Price means the price paid per share of Common Stock in the event of a Make-Whole Acquisition. If the holders of shares of Common Stock receive only cash in the Make-Whole Acquisition, the Make-Whole Acquisition Stock Price shall be the cash amount paid per share of Common Stock. Otherwise, the Make-Whole Acquisition Stock Price shall be the average of the Closing Price per share of Common Stock on the 10 Trading Days up to, but not including, the Make-Whole Acquisition Effective Date.

  • Acquisition Amount means, for an Acquired Receivable for which the Acquisition Amount is to be included in Available Funds for a Payment Date, the excess of (i) the present value of the Principal Balance of the Receivable as of the last day of the Collection Period immediately preceding the related Collection Period (calculated using the Discount Rate on the basis of a 360-day year of twelve 30-day months and assuming each amount is received at the end of the Collection Period in which the amount is scheduled to be received) over (ii) all cash collections and any other cash proceeds received by the Issuer on the related Receivable from (but excluding) the last day of the Collection Period immediately preceding the related Collection Period to the day on which such Receivable becomes an Acquired Receivable.