Backstop Commitment Fee definition

Backstop Commitment Fee means the 1,500,000 Company Shares issued to Sponsor (or its designee) at Closing pursuant to Section 1.04 of the Backstop Agreement.

Backstop Commitment Fee means a cash commitment fee in the amount of US$2,190,000, which is payable in accordance with the Backstop Commitment Letter and shall be applied by the Initial Backstoppers to purchase the Backstop Commitment Fee Shares.

Backstop Commitment Fee means a commitment fee, pursuant to and as consideration for the obligations of the Backstop Parties under the Backstop Commitment Agreement, equal to 5% of the Rights Offering Amount and the Plan Investor Equity Raise Amount, in the aggregate, earned immediately upon the Subscription Commencement Date and payable by the Plan Investor on the Effective Date as set forth in, and subject to the terms and conditions of the Backstop Commitment Agreement.

Examples of Backstop Commitment Fee in a sentence

• The Backstop Commitment Fee shall be fully earned, nonrefundable and non-avoidable upon entry of the BCA Approval Order, and shall be paid by the Debtors, free and clear of any withholding or deduction for any applicable Taxes, on the earlier of the Effective Date or the valid termination of this Agreement pursuant to Article IX, or, if the Backstop Commitment Fee becomes payable pursuant to Section 9.4(b), within the time specified therein.

• None of the Company Group Members is a party to any Contract with any Person (other than this Agreement) that would give rise to a valid claim against the Commitment Parties for a brokerage commission, finder’s fee or like payment in connection with the Rights Offerings, the sale of the Unsubscribed Shares or the payment of the Backstop Commitment Fee or the Termination Commitment Premium.

• The provisions for the payment of the Backstop Commitment 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.

More Definitions of Backstop Commitment Fee

Backstop Commitment Fee shall have the meaning set forth in Section 2.2(d).

Backstop Commitment Fee has the meaning set forth in Section 3.1.

Backstop Commitment Fee means the fee in connection with the Share Placement to be paid to the Backstop Noteholders pursuant to the Backstop Agreement as follows, subject to dilution on account of the MIP: (i) 0.23% of the shares of the New Common Stock to be issued and outstanding on the Effective Date payable to the Backstop Convertible Noteholders in the form of series C New Common Stock, and (ii) 0.02% of the New Common Stock to be issued and outstanding on the Effective Date payable to the Backstop Senior Noteholders in the form of series B New Common Stock.

Backstop Commitment Fee means a commitment fee equal to 1.0% of the total Backstop Commitment Amount as of the date on which the Debtors execute this Backstop Commitment Letter that shall be paid in New Common Stock, which amount shall be determined using the Backstop Price.

Backstop Commitment Fee means, to the extent approved by the DIP Orders or any other order of the Bankruptcy Court, an aggregate fee to be paid on the Effective Date to the Backstop Parties in consideration for the Backstop Parties’ commitment to backstop New Money DIP Loans, which fee shall be equal to 5.0% of the New Common Stock, subject to dilution by the Management Incentive Plan.

Backstop Commitment Fee means a commitment fee equal to 3% of the aggregate purchase price for all Direct Subscription Shares and Backstop Shares (each as defined in the EPCA) to be purchased by all Backstop Parties pursuant to the EPCA, which shall be paid in Additional Shares (if the Rights Offering is consummated) or Cash (if the transactions embodied in the Plan are not consummated).

Backstop Commitment Fee means a commitment fee equal to 3% of the Backstop Amount,which shall be paid in Additional Shares.