Backstopped definition
Examples of Backstopped in a sentence
Interest Offering Shares, Backstopped Shares and Backstop Consideration Shares issued in connection with the Share Offering have been, as of the Election Deadline and the Implementation Date, conditionally approved for listing on the TSX or such other Designated Offshore Securities Market acceptable to the Majority Consenting Noteholders, subject only to receipt of customary final documentation.
The Administrative Agent shall have received reasonably satisfactory evidence that the repayment of all Indebtedness (other than the Backstopped Letters of Credit) of the Acquired Company shall have occurred.
For purposes of clarity, in all cases the aggregate Backstop Commitment of the Backstop Parties shall be equal to the full Backstopped Amount subject to the Backstop Commitment Limits for participating Backstop Parties, as applicable.
This Agreement, the Purchase Agreement, the PIPE Warrants and the Backstopped Warrants embody the entire agreement and understanding between the parties hereto in respect of the subject matter contained herein and therein.
In particular, the Company is undertaking the Rights Offering in reliance on the Investor’s commitment under Sections 2.1 and 2.4 hereof to provide the Company with funds up to the Backstopped Amount as contemplated by this Agreement and the 2004 Investment Agreement, including, without limitation, Sections 2.1 and 2.4 hereof.
The Administrative Agent shall have received reasonably satisfactory evidence that the repayment, with proceeds of the Loans hereunder, of all Indebtedness (other than the Backstopped Letters of Credit) of the Acquired Company shall have occurred .
There are no restrictions, promises, warranties, or undertakings, other than those set forth or referred to herein or therein, with respect to the registration rights granted by the Company with respect to the PIPE Securities, the PIPE Warrant Shares, the Backstopped Securities, and the Backstopped Warrant Shares.
All rights and claims of contribution, indemnification, and reimbursement under this Section 9.18 shall be subordinate in right of payment to the prior payment in full of the Facility Obligations (other than contingent indemnification obligations and Letters of Credit which have been Cash Collateralized pursuant to Section 2.09(b) or Backstopped).
The obligation of ▇▇▇▇▇▇▇ Sachs under Section 2.6(b) to procure the issuance of the New Letter of Credit is subject to the further additional condition precedent that ▇▇▇▇ shall have provided evidence reasonably satisfactory to ▇▇▇▇▇▇▇ Sachs that the Saudi Letter of Credit and the Backstopped Saudi LOC have been cancelled.
The Company will take any and all other steps and proceedings that may be necessary in order to qualify the distribution of the Rights and the Common Shares issuable upon the exercise of the Rights (other than the Backstopped Shares) in the United States and to comply with US Securities Laws.