Equity Commitment Documents definition
Examples of Equity Commitment Documents in a sentence
As more fully set forth in the Equity Commitment Documents, the Equity Commitment Parties shall purchase an aggregate of (i) up to $4,415,941,666.67 of Reorganized Hertz Parent Common Interests and (ii) up to $1,500,000,000.00 of Preferred Stock (in each case subject to adjustment pursuant to the terms of the Equity Commitment Documents).
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Following approval by the Bankruptcy Court of the Disclosure Statement and the Rights Offering Procedures, Hertz Parent shall conduct the Rights Offering in accordance with the Rights Offering Procedures and Equity Commitment Documents.
Additionally, certain of the Equity Commitment Parties shall receive premiums in an aggregate amount of $163,500,000.00 of Reorganized Hertz Parent Common Interests, as more fully set forth in the Equity Commitment Documents.
On the Effective Date, in accordance with the Equity Commitment Documents and subject to the terms and conditions thereof, the Equity Commitment Parties shall fund the New Money Investment in exchange for Reorganized Hertz Parent Common Interests and Preferred Stock.
The consummation of the Rights Offering is conditioned on the satisfaction or waiver (in accordance with the Equity Commitment Agreement) of all conditions specified in the terms of the Equity Commitment Documents.
The Administrative Agent and the FILO Agent shall have received true and correct copies of the executed Equity Commitment Documents, in substantially the same form as the drafts thereof provided to the Administrative Agent and the FILO Agent prior to 12:00 noon, New York City time, February 6, 2023 (except for changes reasonably acceptable to the Administrative Agent and the FILO Agent).
The foregoing allocations may be adjusted before the Effective Date solely in accordance with the Equity Commitment Documents.
Event of Default arising under Section 7.01(d)(i) of the Credit Agreement as a result of the Company entering into the limited waiver to the Equity Commitment Documents (as defined in the Credit Agreement immediately prior to the Fourth Amendment Effective Date) pursuant to the Preferred Warrant Waiver, dated as of March 22, 2023, by and between the Company and HBC Investments LLC in breach of Section 6.11(iv) of the Credit Agreement.