Backstop Transfer definition
Backstop Transfer means, following the consummation of the Backstop Acquisition, the acquisition, directly or indirectly, by a Permitted Succeeding Holder of 100% of the outstanding Capital Stock of each of the Parent Guarantor, the Issuers and the Guarantors; provided that immediately prior to the occurrence of such acquisition and immediately thereafter and giving pro forma effect thereto, the Consolidated Parent Net Leverage Ratio would have been 6.25 to 1.00 or less. Notwithstanding the foregoing, only one Backstop Transfer shall be permitted under the Indenture after the Issue Date.