Backstop Financing definition

Backstop Financing means the backstop for the Exit Financing provided by the Backstop Parties.
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Backstop Financing means the backstop financing to be provided by an affiliate of Fortress Credit Corp. pursuant to the Backstop Agreement. “Backstop Notes” means the senior unsecured convertible notes in an aggregate principal amount of up to $120,000,000 to be issued by KORE
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Backstop Financing means any backstop arrangements and/or private placements of equity securities of the Purchaser which is permitted by Section 5.3 (including any such transactions which are permitted by Schedule 5.3) or to which the Company has consented pursuant to Section 5.3, other than a Bridge Loan.
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Examples of Backstop Financing in a sentence

  • Immediately prior to the First Merger, it is anticipated that the PIPE Investment and, if applicable, the Backstop Financing will be funded, shares of Pubco Common Stock will be issued to PIPE Investors and, if applicable, the Backstop Notes will be issued to the lender(s) providing Backstop Financing.

  • However, CTAC does not intend to seek additional shareholder approval or to extend the time for the exercise of redemption rights if the Backstop Financing is utilized or the minimum cash condition is waived.

  • The decision to utilize the Backstop Financing or waive the minimum cash condition, which each of CTAC and KORE is entitled to make in its sole discretion and independently of each other, will depend on a number of factors, including the total number of redemptions, and the amount of freely available cash at KORE and its subsidiaries.

  • In the event that the Backstop Financing is utilized, or the minimum cash condition is waived by both CTAC and KORE, CTAC intends to promptly notify its shareholders by issuing a press release.

  • Cash proceeds from the Business Combination totaled approximately $467.5 million, which included funds held in Artius’s trust account and the completion of the concurrent PIPE and Backstop Financing.

  • Absent utilization of the Backstop Financing, if more than 59% of CTAC’s public shareholders duly exercise their redemption rights, and if KORE and its subsidiaries have no freely available cash at Closing, the business combination will not be consummated unless the Backstop Financing is utilized or the minimum cash condition is waived by both CTAC and KORE.

  • Absent utilization of the Backstop Financing, if more than 59% ofCTAC’s public shareholders duly exercise their redemption rights, and if KORE and its subsidiaries have no freely available cash at Closing, the business combination will not be consummated unless the Backstop Financing is utilized or the minimum cash condition is waived by both CTAC and KORE.

  • Absent utilization of the Backstop Financing, if more than 59% ofCTAC’s public shareholders duly exercise their redemption rights, and if KORE and its subsidiaries have no freely available cash at Closing, the business combination will not be consummated unless the Backstop Financing is utilized or the minimum cash condition is waived by both CTAC and KORE.

  • This Commitment Letter, the Term Sheets and the Fee 12 Letters supersede all prior understandings, whether written or oral, between us with respect to the Facilities, the Consent Solicitation, the Amendment and the Backstop Financing.

  • Additionally, in the event that the Required Consents are received, the commitments of the Commitment Parties in respect of the Backstop Financing shall automatically terminate.


More Definitions of Backstop Financing

Backstop Financing means the backstop financing to be provided by an affiliate of Fortress Credit Corp. pursuant to the Backstop Agreement.
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Backstop Financing means the potential issuance and sale of up to $20 million of shares of Tiberius Common Stock in a private placement to certain officers of Tiberius and their related company, the Gray Insurance Company, pursuant to the Backstop Subscription Agreements.
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Backstop Financing means the backstop financing to be provided by a prospective lender to help satisfy the minimum cash condition at Closing. “Backstop Notes” means the senior unsecured convertible notes in an aggregate principal amount of up to $120,000,000 to be issued by KORE
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Related to Backstop Financing

  • Co-financing means the financing referred to in Section 7.02 (h) and specified in the Loan Agreement provided or to be provided for the Project by the Co-financier. If the Loan Agreement specifies more than one such financing, “Co-financing” refers separately to each of such financings.

  • Exit Financing means the financing under the Exit Facility.

  • Backstop Agreement has the meaning set forth in the recitals to this Agreement.

  • Bridge Financing has the meaning set forth in Section 6.14.

  • Alternative Financing has the meaning set forth in Section 5.14(b).

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

  • Backstop Commitment Agreement means that certain Backstop Commitment Agreement, by and between CEOC and the PropCo Preferred Backstop Investors party thereto from time to time, as the same may be amended, amended and restated, supplemented, or otherwise modified from time to time in accordance with its terms, the form of which shall be included in the Plan Supplement.

  • securities financing transaction or 'SFT' means a repurchase transaction, a securities or commodities lending or borrowing transaction, or a margin lending transaction;

  • Debt Financing has the meaning set forth in Section 5.7.

  • Securities Financing Transactions means repurchase agreements, reverse repurchase agreements, securities lending agreements and any other transactions within the scope of SFTR that a Fund is permitted to engage in;

  • Refinancing Transactions means the issuance and sale of the Notes pursuant to the Offering Memorandum, the incurrence of indebtedness on or about the Issue Date pursuant to any Credit Agreement and/or the repricing, refinancing, amendment, restatement or supplement, in whole or in part, of any Credit Agreement and the redemption (including any satisfaction and discharge in connection therewith) of all of the Company’s outstanding 7.875% Senior Notes due 2019 and the payment of fees and expenses in connection therewith.

  • Backstop Parties means, collectively, the Initial Backstop Parties and the Additional Backstop Parties.

  • Equity Financing means the next sale (or series of related sales) by the Company of its Equity Securities to one or more third parties following the date of this instrument from which the Company receives gross proceeds of not less than $1,000,000 cash or cash equivalent (excluding the conversion of any instruments convertible into or exercisable or exchangeable for Capital Stock, such as SAFEs or convertible promissory notes) with the principal purpose of raising capital.

  • Financing Transaction means a transaction in which a licensed provider obtains financing from a financing entity including any secured or unsecured financing, any securitization transaction, or any securities offering which is either registered or exempt from registration under federal and state securities law.

  • Bridge Facility means the Commitments and any Advances made thereunder.

  • Concurrent Financing means the various third party financing arrangements the Company is executing pursuant to the agreements described on Schedule 2.1(c)(i) (the “Concurrent Financing”) separate and apart from the transactions contemplated by this Agreement.

  • Subsequent Financing shall have the meaning ascribed to such term in Section 4.12(a).

  • PIPE Financing has the meaning set forth in the recitals to this Agreement.

  • Closing Date Refinancing means the repayment, repurchase, redemption, defeasance or other discharge of the Existing Debt Facility and termination and/or release of any security interests and guarantees in connection therewith.

  • Next Equity Financing means the next sale (or series of related sales) by the Company of its Preferred Stock following the Date of Issuance from which the Company receives gross proceeds of not less than $1,000,000 (excluding the aggregate amount of securities converted into Preferred Stock in connection with such sale (or series of related sales)).

  • DIP Facility means the debtor-in-possession secured financing facility provided to the Debtors by the DIP Lenders pursuant to the DIP Credit Agreement as authorized by the Bankruptcy Court pursuant to the DIP Facility Order.

  • Exit Facility means a credit facility that will be entered into by the City, the Exit Facility Agent and the other financial institutions party thereto on the Effective Date on substantially the terms set forth on Exhibit I.A.119.