Examples of Backstop Lenders in a sentence
The Plan provides for distribution of (a) New Holdco Common Stock to holders of Allowed Claims in Class 4, the Exit Term Facility Backstop Lenders (or their respective designated investment advisors, managers, affiliates, related funds or managed accounts) and the Exit Term Facility Lenders (or their respective designated investment advisors, managers, affiliates, related funds or managed accounts) and (b) New Opco Common Units to New Holdco (collectively, the “Plan Securities”).
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Following the Closing Date, the Company shall use commercially reasonable efforts to assist the Backstop Lenders in connection with the primary syndication process (the “Syndication”) for the assignment of a proportionate share of the Term Loans and Commitments in accordance with the RSA.
For the avoidance of doubt, only the Backstop Lenders are entitled to their pro rata share of the backstop fee (as described in the DIP Fee Letter).
The volume levels are based on the number of transactions carried out and apply per month and participant.