Initial Backstop definition

Initial Backstop means the backstop provided by the Initial Backstop Parties for the Initial Backstop Amount.
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Initial Backstop means the backstop commitment to the New Loan provided by the Initial Backstop Parties for the New Loan Amount.
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Examples of Initial Backstop in a sentence

  • The current Board will determine one of the nominees to the New Board, provided that such nominee is an Independent Director and is acceptable to the Initial Backstop Parties and the Additional Noteholder Committee.

  • Upon the Confirmation Date, the Debtors shall pay all reasonable and documented unpaid fees and expenses of the Consenting Noteholder Advisors (as defined in the Restructuring Support Agreement), the Rowan Ad Hoc Group fees (as defined in the Restructuring Support Agreement) (other than those fees and expenses incurred in pursuing the Harris County Litigation), and the professionals retained by the Initial Backstop Parties (as defined in the Backstop Agreement) incurred prior to the Confirmation Date.

  • You glory be shocked to know the salary whereas the bodyguards of these.

  • To the extent any condition, term or provision of the Backstop Commitment requires the consent, satisfaction or approval of the Initial Backstop Parties, the Initial Backstop Parties agree to the extent practicable that they will exercise their discretion with respect to such consent, satisfaction or approval in consultation with the Additional Noteholder Committee.

  • On or before July 18, 2008, the Company, together with the Initial Backstop Parties, will announce by way of press release, which press release will be incorporated by reference herein, the proposed directors for the New Board.

  • Amount Purpose $2,200,000 East Central Bazetta Sewer 1,650,000 Lakeshore Drive Sewer910,000 State Road Sewer 740,000 Champion Water Tower625,000 Little Squaw Creek Interceptor Sewer 610,000 March Avenue Sewer360,000 Digester Air System Sewer Project 110,000 Sampson Drive Sanitary Sewer $7,205,000 Total 6-month Notes On March 24, 2009, the County issued $2,990,000 of 12-month notes at a rate of 2.50 percent, maturing on March 23, 2010, in anticipation of the issuance of bonds for the following purposes.

  • Through the Effective Date, the Debtors shall pay currently in cash all reasonable and documented fees and expenses of the Consenting Noteholder Advisors, the Rowan Ad Hoc Group (other than those fees and expenses incurred in pursuing the Harris County Litigation), and the Initial Backstop Parties.

  • The Participation Shortfall (if any) shall be funded pro rata by the Initial Backstop Parties and the Additional Backstop Parties based on the Initial Backstop Parties' and the Additional Backstop Parties' respective proportions of the sum of the Initial Backstop Amount and the Additional Backstop Amount.

  • For the avoidance of doubt, neither the RCF Agent Advisors, the Consenting Noteholders Advisors, the Rowan Ad Hoc Group, nor the Initial Backstop Parties shall be required to file any interim or final fee application with the Bankruptcy Court with respect to any invoices.

  • For the avoidance of doubt, neither the Consenting Noteholder Advisors, the Rowan Ad Hoc Group, nor the Initial Backstop Parties shall be required to file any interim or final fee application with the Bankruptcy Court with respect to any invoices.

Related to Initial Backstop

  • Backstop Agreement has the meaning set forth in the recitals to this Agreement.

  • Backstop Commitment Agreement means that certain Backstop Commitment Agreement, by and between CEOC and the PropCo Preferred Backstop Investors party thereto from time to time, as the same may be amended, amended and restated, supplemented, or otherwise modified from time to time in accordance with its terms, the form of which shall be included in the Plan Supplement.

  • Backstop Commitment has the meaning set forth in Section 2.2(b).

  • Backstop Parties means, collectively, the Initial Backstop Parties and the Additional Backstop Parties.

  • Next Equity Financing means the next sale (or series of related sales) by the Company of its Preferred Stock following the Date of Issuance from which the Company receives gross proceeds of not less than $1,000,000 (excluding the aggregate amount of securities converted into Preferred Stock in connection with such sale (or series of related sales)).

  • Closing Warrants shall have the meaning ascribed to such term in Section 2.1(a)(ii).

  • Concurrent Financing means the various third party financing arrangements the Company is executing pursuant to the agreements described on Schedule 2.1(c)(i) (the “Concurrent Financing”) separate and apart from the transactions contemplated by this Agreement.

  • Equity Financing means the next sale (or series of related sales) by the Company of its Equity Securities to one or more third parties following the date of this instrument from which the Company receives gross proceeds of not less than $1,000,000 cash or cash equivalent (excluding the conversion of any instruments convertible into or exercisable or exchangeable for Capital Stock, such as SAFEs or convertible promissory notes) with the principal purpose of raising capital.

  • First Closing Date shall refer to the time and date of delivery of certificates for the Firm Shares and such Optional Shares). Any such time and date of delivery, if subsequent to the First Closing Date, is called an “Option Closing Date,” shall be determined by the Representatives and shall not be earlier than three or later than five full business days after delivery of such notice of exercise. If any Optional Shares are to be purchased, each Underwriter agrees, severally and not jointly, to purchase the number of Optional Shares (subject to such adjustments to eliminate fractional shares as the Representatives may determine) that bears the same proportion to the total number of Optional Shares to be purchased as the number of Firm Shares set forth on Schedule A opposite the name of such Underwriter bears to the total number of Firm Shares. The Representatives may cancel the option at any time prior to its expiration by giving written notice of such cancellation to the Company.

  • Shares Acquisition Date means the first date of public announcement by the Company or an Acquiring Person that an Acquiring Person has become such.

  • Closing Date Purchase Price shall have the meaning set forth in Section 2.1 hereof.

  • Series Closing Date means the date designated as such in the Series Term Sheet.

  • Commitment Agreement means the written agreement that may be required at EDTI’s sole discretion between a Customer and EDTI whereby the Customer both authorizes the design and construction of new or expanded Facilities and agrees to pay all cancellation costs if the project is cancelled or if the Customer fails to sign an Electric Service Agreement prior to the energization of the new or expanded Facilities;

  • Exit Financing means the financing under the Exit Facility.

  • Underwriting Agreement means the Underwriting Agreement, dated ______ __, 19__, among the Trust, the Depositor and the underwriters named therein.

  • Alternative Financing is defined in Section 6.14(d).

  • Subsequent Financing shall have the meaning ascribed to such term in Section 4.12(a).

  • Initial Bond Issue means the issuance of the Initial Bonds. "Initial Bonds" means the Bonds issued on the First Issue Date.

  • Amendment Closing Date means the first date that all the conditions precedent set forth in this Amendment are satisfied or waived in accordance herewith.

  • Initial Closing Date shall have the meaning assigned to such term in Section 1.2 hereof.

  • Subsequent Closing Date means, with respect to each Subsequent Closing, the date on which such Subsequent Closing is deemed to have occurred.

  • Closing Date Refinancing means the repayment, repurchase, redemption, defeasance or other discharge of the Existing Debt Facility and termination and/or release of any security interests and guarantees in connection therewith.

  • First Equity Financing Price means (x) if the pre-money valuation of the Company immediately prior to the First Equity Financing is less than or equal to the Valuation Cap, the lowest price per share of the Equity Securities sold in the First Equity Financing or (y) if the pre-money valuation of the Company immediately prior to the First Equity Financing is greater than the Valuation Cap, the SAFE Price.

  • First Amendment Closing Date has the meaning assigned to such term in the First Amendment.

  • Incremental Facility Closing Date has the meaning set forth in Section 2.14(d).

  • Subsequent Financing Notice shall have the meaning ascribed to such term in Section 4.12(b).