Back Leverage definition
Back Leverage means the (1) incurrence of indebtedness by the Purchaser (or an Affiliate thereof) to (A) finance a portion of its purchase of the Shares, (B) finance a return of capital with respect to its investment in the Shares, or (C) refinance or replace indebtedness described in this clause (1), and (2) granting of Liens by the Purchaser to secure payment of such indebtedness, including on Shares held by the Purchaser (or each Affiliate of the Purchaser to which Shares are transferred pursuant to Section 5.3(b)(1)).
Back Leverage means: (i) incurrence of indebtedness by the Lead Investor (or an Affiliate thereof) to (A) finance its subscription of its Applicable Subscribed Shares, (B) finance a return of capital with respect to its investment in its Applicable Subscribed Shares or the Conversion Securities converted therefrom, or (C) refinance or replace indebtedness described in this clause (i), and (ii) granting of Liens by the Lead Investor to secure payment of such indebtedness, including on any of its Applicable Subscribed Shares or any Conversion Securities held by the Lead Investor Parties.
Back Leverage means the (i) direct or indirect incurrence of Indebtedness by Apax (or an Affiliate thereof, including any entity directly or indirectly holding such Registrable Securities) or the Restricted Holders or the Significant Co-Investor, in each case, with respect to the Registrable Securities (and including to refinance or replace Indebtedness described in this clause (i), and (ii) granting of Liens by Apax, the Significant Co-Investor or the applicable Restricted Holder to secure payment of such Indebtedness described in clause (i), including on the Registrable Securities held by Apax or its Permitted Transferees, the Significant Co-Investor or the applicable Restricted Holder but which granting of Liens will not be, solely during the Apax Lock-Up Period, (x) on more than 20% of the Registrable Securities Beneficially Owned by Apax (and its Permitted Transferees) as a percentage of the Registrable Securities Beneficially Owned by Apax on the Closing Date, or (y) on more than 20% of the Registrable Securities Beneficially Owned by the Significant Co-Investor (and its Permitted Transferees) as a percentage of the Registrable Securities Beneficially Owned by the Significant Co-Investor on the Closing Date, as applicable.
Examples of Back Leverage in a sentence
The Holders may not assign their rights and obligations hereunder (other than by operation of law); provided that a Holder may assign its rights and obligations hereunder to an Affiliate of such Holder and to any Person that has acquired the Notes or Ordinary Shares in connection with any foreclosure of any Notes or Ordinary Shares pledged in connection with the Back Leverage (as defined in the Purchase Agreement).
Notwithstanding the foregoing, in no event may a holder of Series A Preferred Stock convert any portion of the outstanding Shares of Series A Preferred Stock prior to earlier to occur of (A) the consummation of the CIS Spin-Off Transaction and (B) the Spin Cut-Off Date, provided that this restriction shall not apply with respect to any holder of Series A Preferred Stock that is a lender or other counterparty providing any Back Leverage (as defined under the Investment Agreement).
More Definitions of Back Leverage
Back Leverage means, with respect to any Investor, the: (a) incurrence of indebtedness by such Investor (or an Affiliate thereof) to (i) finance a portion of its purchase of the Convertible Securities, (ii) finance a return of capital with respect to its investment in the Convertible Securities (or Conversion Securities), or (iii) refinance or replace indebtedness described in this clause (a), and (b) granting of Liens by such Investor to secure payment of such indebtedness, including on the Convertible Securities and any Conversion Securities held by the Investor Parties.
Back Leverage means the (i) incurrence of indebtedness by a Purchaser to (a) finance a portion of its purchase of the Notes (b) finance a return of capital with respect to its investment in the Notes or (c) refinance or replace indebtedness described in this clause (i), and (ii) granting of liens by a Purchaser to secure payment of such indebtedness, including on the Notes and Common Stock of the Company held by such Purchaser.
Back Leverage means the (a) incurrence of indebtedness by the Investor (or an Affiliate thereof) to (i) finance a portion of its purchase of the Preferred Stock, (ii) finance a return of capital with respect to its investment in the Preferred Stock, or (iii) refinance or replace indebtedness described in this clause (a), and (b) granting of Liens by the Investor to secure payment of such indebtedness, including on the Preferred Stock and any shares of Common Stock held by the Investor Parties.
Back Leverage means any (i) bona fide loan or lending transaction entered into by the Investor (or, after the Restricted Period, a Permitted Transferee thereof) to (a) finance a portion of its purchase of the Series B Preferred Stock, (b) finance a return of capital with respect to its investment in the Series B Preferred Stock or the Company Common Stock issued upon conversion thereof, or (c) refinance or replace any indebtedness described in this clause (i), and (ii) granting of Liens by the Investor to secure payment of such indebtedness and related obligations, including on the Series B Preferred Stock and any shares of Company Common Stock held by the Investor Parties.
Back Leverage means, with respect to any Investor, the: (a) incurrence of indebtedness by such Investor (or an Affiliate thereof) to
Back Leverage means, with respect to any Investor, the: (a) incurrence of indebtedness by such Investor (or an Affiliate thereof) to (i) finance a portion of its subscription of the Preferred Shares, (ii) finance a return of capital with respect to its investment in the Preferred Shares (or Conversion Securities), or (iii) refinance or replace indebtedness described in this clause (a), and (b) granting of Liens by such Investor to secure payment of such indebtedness, including on the Preferred Shares and any Conversion Securities held by the Investor Parties.
Back Leverage means the (a) incurrence of indebtedness by the Investor (or an Affiliate thereof) to (i) finance a portion of its purchase of the Preferred Stock, (ii) finance a return of capital with respect to its investment in the Preferred Stock, or (iii) refinance or replace indebtedness described in this clause (a), and (b) granting of Liens by the Investor to secure payment of such indebtedness, including on the Preferred Stock and any shares of Common Stock held by the Investor Parties. "beneficially own", "beneficial ownership of", or "beneficially owning" any securities shall have the meaning set forth in Rule 13d-3 of the rules and regulations under the Exchange Act.