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by and among the Commitment Parties and Hornbeck, as may be amended, supplemented, or modified from time to time in accordance with the terms thereof and subject to the Consenting Creditor Approval Rights, setting forth, among other things, the terms and conditions of the Equity Rights Offering and the Backstop Commitments.", "snippet_links": [{"key": "dated-as-of", "type": "definition", "offset": [50, 61]}, {"key": "commitment-parties", "type": "definition", "offset": [93, 111]}, {"key": "from-time-to-time", "type": "clause", "offset": [171, 188]}, {"key": "in-accordance-with", "type": "definition", "offset": [189, 207]}, {"key": "subject-to-the", "type": "clause", "offset": [230, 244]}, {"key": "consenting-creditor-approval-rights", "type": "definition", "offset": [245, 280]}, {"key": "terms-and-conditions-of-the", "type": "clause", "offset": [321, 348]}, {"key": "equity-rights-offering", "type": "clause", "offset": [349, 371]}, {"key": "the-backstop-commitments", "type": "clause", 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the terms thereof and the Restructuring Support Agreement, and which shall be subject to the consent rights of the Required RSA Parties on the terms set forth in the Restructuring Support Agreement.", "snippet_links": [{"key": "entered-into", "type": "clause", "offset": [50, 62]}, {"key": "dated-as-of", "type": "definition", "offset": [67, 78]}, {"key": "july-24", "type": "definition", "offset": [79, 86]}, {"key": "pursuant-to", "type": "clause", "offset": [94, 105]}, {"key": "backstop-commitment-parties", "type": "definition", "offset": [116, 143]}, {"key": "agreed-to", "type": "clause", "offset": [149, 158]}, {"key": "the-rights-offering", "type": "clause", "offset": [168, 187]}, {"key": "from-time-to-time", "type": "clause", "offset": [219, 236]}, {"key": "in-accordance-with", "type": "definition", "offset": [237, 255]}, {"key": "the-terms", "type": "clause", "offset": [256, 265]}, {"key": "restructuring-support-agreement", "type": "clause", "offset": [282, 313]}, {"key": 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"Backstop Commitment Agreement", "size": 238, "id": "backstop-commitment-agreement", "examples": ["Reference is made to that certain <strong>Backstop Commitment Agreement</strong> (as amended, modified or supplemented from time to time, the \u201cAgreement\u201d) by and among Caesars Entertainment Operating Company, Inc., a Delaware corporation ( \u201cCEOC\u201d), and each of the Preferred Backstop Investors party thereto from time to time.", "Capitalized terms used but not defined herein shall have the meanings assigned to them in the <strong>Backstop Commitment Agreement</strong>.", "Notwithstanding anything herein to the contrary, the termination of this Agreement by a Consenting Creditor under Section 34 hereof shall not be deemed a termination of this Agreement for purposes of the <strong>Backstop Commitment Agreement</strong>.", "In consideration for entering into, and conditional on fulfilling the obligations under, the <strong>Backstop Commitment Agreement</strong>, the Backstop Parties shall be entitled to receive on the Effective Date a fee equal to 5% of the New Capital Offering Amount, which fee shall be applied by the Backstop Parties to acquire additional New Second Lien Notes on the Effective Date.", "Purchase Option Each First Lien Noteholder shall have the non-transferable option to purchase their pro rata share (based on their holdings of the First Lien Note Obligations) of 50% of the Preferred PropCo Equity, with such purchases proportionally diluting the Preferred PropCo Equity purchased by the Preferred Backstop Investors (as defined in the <strong>Backstop Commitment Agreement</strong> to be attached hereto).", "Company and the Backstop Parties shall enter into the <strong>Backstop Commitment Agreement</strong> as at the date of this Term Sheet, pursuant to which, among other things, the Backstop Parties shall agree to backstop and consummate the New Capital Offering to the extent that Second Lien Noteholders do not subscribe for their Pro-Rata Share of the New Capital Offering Amount.", "Upon termination, the Debtors shall have no ongoing obligations or liabilities under the <strong>Backstop Commitment Agreement</strong>, except for the Debtors\u2019 indemnification obligations; provided that such termination shall not relieve a party of liability for any pre-termination breach, or (subject to entry of the BCA Approval Order) relieve the Debtors of any obligations with respect to the Backstop Commitment Premium (to the extent payable pursuant to the terms hereof) and/or the Expense Reimbursement.", "Each Holder of Secured First Lien Notes Claims that has exercised its PropCo Preferred Equity Put Right pursuant to the PropCo Preferred Subscription Procedures shall have the right to put all, but not less than all, of such Holders\u2019 Pro Rata share of the PropCo Preferred Equity Distribution to the PropCo Preferred Backstop Investors for Cash pursuant thereto and consistent with the <strong>Backstop Commitment Agreement</strong>.", "On the Effective Date, the PropCo Preferred Backstop Investors shall have the right, pursuant to the PropCo Preferred Equity Call Right and consistent with the <strong>Backstop Commitment Agreement</strong>, to purchase for Cash from each Holder of Secured First Lien Notes Claims up to 50% of the PropCo Preferred Equity Distribution received by each such Holder.", "As consideration for their commitment to subscribe for such Backstop Notes, the Investors shall be entitled to receive the payments as set forth in, and in accordance with the terms of, the <strong>Backstop Commitment Agreement</strong>."], "related": [["backstop-commitment", "Backstop Commitment", "Backstop Commitment"], ["commitment-agreement", "Commitment Agreement", "Commitment Agreement"], ["incremental-commitment-agreement", "Incremental Commitment Agreement", "Incremental Commitment Agreement"], ["backstop-agreement", "Backstop Agreement", "Backstop Agreement"], ["equity-commitment-letter", "Equity Commitment Letter", "Equity Commitment Letter"]], "related_snippets": [], "updated": "2026-04-05T05:49:25+00:00"}, "json": true, "cursor": ""}}