Commitment Premium definition

Commitment Premium has the meaning set forth in Section 3.1.

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Commitment Premium means a premium equal to (i) 6.0% of the committed Rights Offering Amount, payable to the Backstop Parties in New Common Stock (issued at the same price as the Rights Offering Shares), or (ii) 4.0% of the committed Rights Offering Amount, payable in Cash if the Backstop Commitment Agreement is terminated for any reason other than by the Debtors due to the failure of any Commitment Party to complete the Rights Offering in violation of the Backstop Commitment Agreement, in each case in accordance with the Backstop Approval Order.

Commitment Premium as defined in Section 2.8(b).

Examples of Commitment Premium in a sentence

For the avoidance of doubt, to the extent payable in accordance with the terms of this Agreement, the Commitment Premium will be payable regardless of the amount of Unsubscribed Shares (if any) actually purchased.
The Commitment Premium 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 Closing Date as set forth above.
The provisions for the payment of the Commitment Premium, the Termination 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.
For the avoidance of doubt, any such increase in the Commitment Premium will result in an overall increase in the Commitment Premium and not in a reallocation from other Commitment Parties.
The provisions for the payment of the Commitment Premium 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 Commitment Premium

Commitment Premium means the premium payable to the Backstop Parties in consideration for the commitments of the Backstop Parties under the Backstop Purchase Agreement, which premium shall be equal to 7.5% of the maximum Rights Offering Amount ($6,375,000) and shall be payable in the form of New Interests based on the Per Share Purchase Share (or, in the case of any Priority Backstop Party that elects to make Exit Term Loans to the Reorganized Debtors, in the form of additional Exit Term Loans).

Commitment Premium has the meaning set forth in Section 3.1. “Commitment Premium Party” means each Senior Commitment Party (including in its capacity as Incremental Senior Commitment Party) and each Joinder Commitment Party that is an Exit Term Loan Party. “Commitment Premium Share Amount” means, (a) with respect to a Joinder Commitment Party that has backstopped its Required Exit Term Loan Share by the Required Exit Term Loan Commitment Date, the number of Common Units equal to the product of (i) the quotient obtained by dividing (A) such Joinder Commitment Party’s Commitment Percentage by (B) the aggregate Commitment Percentages of the Joinder Commitment Parties, taken as a whole, and (ii) the quotient obtained by dividing (A) the Joinder Commitment Premium Maximum Amount by (B) the Per Unit Purchase Price; (b) with respect to an Incremental Senior Backstop Party, the number of Common Units equal to the product of (i) the quotient obtained by dividing (A) such Incremental Senior Commitment Party’s Incremental Commitment Percentage by (B) the aggregate Incremental Commitment Percentage of the Incremental Senior Commitment Parties, taken as a whole, and (ii) the quotient obtained by dividing (A) the Incremental Senior Commitment Premium Amount by (B) the Per Unit Purchase Price, and (c) with respect to a Senior Commitment Party, the number of Common Units equal to the product of (i) the quotient obtained by dividing (A) such Senior Commitment Party’s Commitment Percentage by (B) the aggregate Commitment Percentage of the Senior Commitment Parties, taken as a whole, and (ii) the quotient obtained by dividing (A) the Senior Commitment Premium Amount by (B) the Per Unit Purchase Price. For the avoidance of doubt, any Commitment Party that is both an Incremental Senior Commitment Party and a Senior Commitment Party shall be entitled to receive its proportional amount of the Senior Commitment Premium Amount and the Incremental Senior Commitment Premium Amount. “Commitment Schedule” means Schedule 1 to this Agreement, as amended, supplemented or otherwise modified from time to time in accordance with this Agreement. “Commitments” means, collectively, the Rights Offering Backstop Commitment and the 4(a)

Commitment Premium means a fee of 6% of the Rights Offering Amount, payable to the Backstop Parties in New Common Stock as more fully set forth in the Backstop Commitment Agreement.

Commitment Premium is defined in Section 2.02(b)(ii).

Commitment Premium has the meaning assigned to such term in Section 2.07(b)(i).

Commitment Premium means the premium payable to the Backstop Parties in consideration for the commitments of the Backstop Parties under the Backstop Purchase Agreement, which premium shall be equal to 7.5% of the maximum Rights Offering Amount ($6,375,000) and shall be payable in the form of New Interests based on the Per Share Purchase Price (or, in the case of any Priority Backstop Party that elects to make Exit Term Loans to the Reorganized Debtors, in the form of additional Exit Term Loans).

Commitment Premium has the meaning set forth in Article IV.E of this Plan.