Backstop Commitment definition
Backstop Commitment has the meaning set forth in Section 2.2(b).
Backstop Commitment means the agreement by the Backstop Party pursuant to the Backstop Rights Purchase Agreement to purchase all of the Rights Offering Shares in excess of the Sopris Senior Notes Commitment that are not purchased by the Rights Offering Participants as part of the Rights Offering.
Backstop Commitment means the PropCo Preferred Backstop Investors’ commitment pursuant to the Backstop Commitment Agreement to backstop with Cash the exercise of the PropCo Preferred Equity Put Right in an amount equal to (a) $250,000,000 plus (b) the PropCo Preferred Equity Upsize Amount.
Examples of Backstop Commitment in a sentence
Notwithstanding anything to the contrary herein, nothing in this Agreement shall require any Commitment Party to purchase New Notes in an aggregate principal amount in excess of such Commitment Party’s Backstop Commitment Percentage multiplied by the Maximum Offering Size, in each case as of the date of this Agreement.
If any Other Noteholder does not exercise its right to purchase such Subscribed New Notes on the Closing Date, the Commitment Parties will cooperate with the Company to determine each Commitment Party’s Backstop Commitment with respect to such unpurchased Subscribed New Notes.
More Definitions of Backstop Commitment
Backstop Commitment means the commitment of each Preferred Backstop Investor to acquire the number of Preferred Stock equal to the product of
Backstop Commitment means a “Commitment” as defined in the Backstop Commitment Letter.
Backstop Commitment means the commitment of each Preferred Backstop Investor to acquire the number of Preferred Stock equal to the product of (i) each such Preferred Backstop Investor’s Backstop Percentage and (ii) the Unsubscribed Shares.
Backstop Commitment means the Backstop Parties’ commitment to backstop the Rights Offering on the terms and conditions set forth in the Restructuring Term Sheet and the Backstop Agreement.
Backstop Commitment means the commitment, on the terms set forth in the Backstop Commitment Agreement, of the Backstop Parties to backstop the Rights Offering.
Backstop Commitment means, in respect of each Backstop Party, the commitment set forth on such Backstop Party’s signature page to the Backstop Agreement or a Backstop Consent Agreement, as applicable, which commitment may be reduced in accordance with and subject to the terms and conditions of the Backstop Agreement and this Plan;
Backstop Commitment means, with respect to any Backstop Party, the commitment of such Backstop Party, subject to the terms and conditions set forth in this Agreement, to purchase Unsubscribed Securities pursuant to, and on the terms set forth in, Section 1.2(a) hereof; and “Backstop Commitments” means the Backstop Commitments of all of the Backstop Parties collectively.